Nano marketplace is actually something I am personally most excited for Nano community. I’m very passionate about this because Nano marketplace creates use cases for NBT holders, something that really differentiate us for other tokens.
In the past, we have said multiple time that creating marketplace itself is easy, but creating marketplace that people use are not easy.
In crypto world, everyone seems to try to create new NFT marketplace, but still there are only few that is being used, such as Opensea, Looksrare, or Magic Eden. Most NFT marketplace has only very few users.
In non crypto world, there are also lots of marketplace, but only few has lots of users. In Indonesia, only around 5 marketplace has lots of users (Tokopedia, Shopee, Bukalapak, Blibli, Lazada). The rest gets only abysmal traction.
So when we decided to create Nano marketplace, we will start with something simple. Something that we know will have good traction. We will pilot this for Indonesia users first, because that’s where most of our users are located.
See below picture from our pilot for Nano marketplace.
Figure 1. Connect wallet to Nano marketplace
Figure 2. Use NBT to get items on marketplace (first for prepaid telco balance, electricity, and internet package)
As you see from picture above, we started simple. Very very simple. Not because we cannot make comprehensive marketplace, but because we want to something we know has a good use case.
As a start, we will allow users to get prepaid telco balance, electricity, and internet package. And during the pilot period, we will use our treasury to make sure the price to get those items using NBT is always 5-10% cheaper than if people purchase it on market in Indonesia. So even if people are not keen on crypto as investment, they will still want to buy NBT because it allows them to get telco balance, electricity, and internet package cheaper than anywhere else in Indonesia.
We started with these 3 items because of the following
- More than 90% of Indonesians use prepaid telco balance. Telkomsel alone has more than 50 million telco users, most of them on prepaid telco balance. Offering this simple proposition allows NBT to be exposed to majority of Indonesian
- Electricity token and internet package is also consumed by tens of millions of users. We hear a lot of adoption of crypto, but these items already achieved critical mass and we want them to adopt NBT.
- These items are purchased regularly, sometimes even daily! This is important because it means NBT usage is not concentrated on specific occasion, but can be used on daily basis.
And to make it even better, during pilot stage, all NBT received on Nano marketplace will be burned forever, reducing total supply of NBT permanently and continuously reduce selling pressure of NBT as Nano marketplace acquires more users.
We started with these 3 items because we want to prove we can create marketplace that people want to use, but we will not stop here. Following is what is on our pipeline next:
- Incorporating other items on our marketplace, from healthcare to game voucher to crypto-based assets such as NFT. We will do this only when we know there is interest to use our piloted Nano marketplace first.
- Loyalty on Nano marketplace. We also want to make sure we have good loyalty program for those using Nano marketplace. So rest assured that the more you use Nano marketplace, the more rewarded you will be.
That’s it for today. We will publish Article 4 soon, and the article will explain how we plan to launch lots of feature until Nanovest Summit 2 and launch of Nanovest full app.
Tommy, on behalf of Nano team