ICO Project NairaX (NIRX)
Tokensale Start: 31/08/2019
Tokensale Finish: 31/10/2019
NairaX is a decentralized e-commerce platform in Africa. The only branch of the company is in Lagos, Nigeria. NIRX Block Payments plans its launch in most African countries, and then around the world. The project team is developing a unique AI-Escrow system - for security of transactions on the platform.
Business Model Overview NairaX (NIRX)
1. The validity of income
The project will receive income from the sale of developed software products and services on the platform. Sellers will be able to access the platform’s functionality and create virtual storefronts for a small fee. Also, entrepreneurs will be able to access the analysis of sales, advertising and promotion of their products - using the services of the platform. Software is under development for existing and newly established e-commerce companies so that they can start using NIRX tokens on their website as a valid payment method.
2. Number of currencies accepted
The project accepts 4 liquid currencies, namely: BTC, ETH, LTC, USD.
3. Token emission
In the project there is a limited number of tokens. A total of 10,000,000,000 NIRX tokens will be released (p. 25 White Paper).
4. Discount on the purchase of tokens
The project has no discount on the purchase of tokens.
In the flow chart provided, the project objectives are shown until 2020 (p. 24 White Paper). The distribution of tokens will occur as follows: 5% - “Research and development of the project”, 5% - “Project partners”, 35% - “Reserved for holding a tokensale”, 52% - “Company reserve”, 3% - “CashDrop” ( p. 26 White Paper).
6. SOFT CAP / HARD CAP Ratio
The project has an excellent SOFT CAP / HARD CAP ratio, which is a plus to its investment attractiveness. The values of SOFT CAP and HARD CAP are $ 10,000,000 and $ 15,000,000, respectively (p. 29 White Paper).
7. MVP availability
A mobile application in Google Play and the App Store will soon be developed and available.
8. Risk assessment and insurance
At the same time, however, there are no risk assessments according to international standards, as well as any risk insurance methods, for example, Escrow, which increases the risk of loss of capital of potential token-holders.
Criteria of accordance to the international standards of business-planning of UNIDO and EBRD