Nimbus | Project Overview
Today I will tell you about the wonderful project Nimbus. So let's start!
The Nimbus Token Platform allows businesses to fund their projects via pre-sales so they can greatly expand their operations, hire new workers and develop new products. Unlike other cryptocurrency platforms, team have found a way to use blockchain technology for any product or service. For the first time blockchain technology can be used to raise money for small business projects and for crypto entrepreneurs, to grow their altcoin collection. Technology blockchain in the near future will be in demand.
A good advantage of this project is the following fact. To give the NIM token long term viability, the buyer of product tokens have an immense amount of flexibility. If they don’t like the product token they bought, maybe the store is not performing well, or they are not excited about the product offered, they can barter for another product token from another store, or they can hold onto the token until the token market changes, or they can get a pro rata refund for the token, based the sales the store has logged. Combining this flexibility, with smart contracts, will make the NIM token a more useful cryptocurrency. This new, radically disruptive idea opens up vast sectors of the economy to tokenization and blockchain technology. It democratizes business in ways that hasn’t been accomplished yet for goods and services.
In this model team use a different type of token that they call product tokens. The most different aspect about product tokens is that their value is derived from the sales a specific store generates. Whereas Bitcoin is a store of value based on scarcity, NIM tokens are a store of value based on actual commerce between a store and a customer. As the cryptocurrency world stands right now, cryptocurrencies are seen as a digital asset that can be easily used for digital goods. There isn’t a place where a mom and pop bakery can expand their business by using cryptocurrencies. The Nimbus Token Platform changes that.
Owners of NIM tokens can open stores, sell stores, raise money, expand businesses, issue their own branded tokens (NIM.FranksDeli) or use their NIM to run stores for others. And of course the stores benefit from the privacy and security that can come from cryptocurrencies and smart contracts. Every time the store makes a sale, part of the sale (sale token allotment) goes into the product token wallet in the form of ETH. Also, if any NIM were leftover from the crowdsale, an amount of NIM is mined from each sale and goes into the store’s wallet. All of the above is one of the features of this project.
NIM VS NIMX
The platform uses two types of tokens, NIM and NIMx; each with its own specific purpose. NIM are the utility tokens that is sold during the token crowdsale. If any NIM were leftover from the crowdsale, those tokens will be available to be mined whenever a store on the platform logs a sale. NIM are also required to open a store on the platform.
NIMx are the product tokens. Every store on the platform has a unique token ID. NIMx (or NIMy or NIMz) are used to denote different product tokens in the whitepaper. Actual unique token IDs could look like NIM.MillerAvocados, NIM.LocusJets, or NIM.ArizonaSpa. Platform users could barter NIM.MillerAvocados product tokens for NIM.ArizonaSpa or any other product token on the platform exchange. They can also be traded on the platform exchange for NIM, which can be traded openly on third party exchanges. It's very cool!
The Nimbus Token Platform has a disruptive ecosystem geared towards building businesses and selling their products.
The platform is a place where businesses can launch a token sale to raise funds for their business needs.
At the crowdsale, NIM tokens are sold to fund the development of the platform. Once the platform is launched, only NIM tokens can be used to open stores on the platform and launch pre-sales of unique product tokens.
When stores log sales, customers can trade the store’s unique product tokens on the platform exchange. At the same time, if any NIM were leftover from the crowdsale, NIM from the pool are available to be mined and placed into the store’s wallet.
As NIM are consumed to create stores, stores also mine the NIM back out of the pool, when they log sales. This creates the product token cycle; sale, produce, reward and exchange. In this cycle, stores sell a token so they can grow, stores produce goods or services, customers are rewarded with products and product tokens are bartered with others on the platform.
Team predict a minimally viable product to be available in Q3 of 2018 with more features coming online the rest of that year. New v2.0 features could conceivably be seen on the platform during Q2 of 2019.
The Nimbus project surprises with its idea and vision. Online stores will gain popularity in the future. This project has a very strong and good team with the well-known JOHN MCAFEE. In my opinion, the project has a chance of success. I want to wish good luck to the team.
My Name on BountyGuru: Nikita Grig