Blockchain Streaming may Revolutionize Online Music Sales

DJ Gareth Emery thinks the way musicians get paid royalties from online music sites is mired in outdated technology and wants to use Blockchain to get artists what they deserve.

Streaming services need an upgrade

According to Emery music streaming sites like Spotify and Itunes domination of online distribution suck up an undue amount of revenue, have too much influence on which artists flourish, and who never gets to be known.

“Careers can get made or broken by being in those playlists,”

So he launched Choon in a bid to right those wrongs and bring accounting transparency and fair financial distribution to an industry that has continually put the artist last.

Emery’s solution is two-fold, firstly Choon’s playlist selections will be human free. Depending instead on an algorithm to build playlists in order to eliminate bias and cronyism at the basic level.

Second is to update the process of assigning and paying royalties to artists based on how frequently their music is streamed and that is where Blockchain comes in.

Choon’s goal is to simplify the accounting process to the point where artists can easily track how often their music is played, what their royalties are and even get paid on a daily basis if they want.

“(the) way of doing royalties and accounting was basically designed in the days of jukeboxes and sheet music and has been grandfathered in across every new innovation”

The open nature of the Blockchain based system created to power Choon is such that the DJ says he would be happy to have others build from it, even Spotify if they want. Thanks to the transparency of the system Choon will pay 80% of its revenue back to artists as royalties. The potentially bad news is that the 80% royalties are artists will receive are going to be paid out in Notes.

Good royalties, bad Notes?

Not surprisingly a company built on the back of Blockchain plans to pay artists in its own Ethereum based cryptocurrency called Notes.

The streaming service plans on launching Notes as an ICO after which it will become freely tradable. Emery understands that a lot of artists may be deterred by being paid in an unproven cryptocurrency at a time when the market is going through some volatile adjustments.

It’s no surprise that the service will launch more on the level of SoundCloud than Spotify with about 400 artists who own their music. To this Emery says he’s not interested in attracting the stars of today, he wants the hit-makers of tomorrow.

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The Indian government isn’t looking too kindly on cryptocurrencies, but the country has certainly caught on to the potential applications for blockchain and associated technology.

Blockchain technology is becoming a favourite in India, Asia’s third-largest economy, for solidifying information, sharing records, and preventing tampering. In his budget speech on February 1st, the country’s Finance Minister Arun Jaitley said the following: “The government will explore the use of blockchain technology proactively for ushering in the digital economy.”

Stripping away the financial application, blockchain is essentially a bookkeeping platform that can be accessed by anybody on the internet but at the same time is owned by nobody. “Once you have a blockchain, the big spreadsheet in the cloud serves as a recordkeeping system that can’t be forged and can’t be reversed,” said Nicolas Cary, the Co-founder and President of Blockchain (the company).

In some cases, such as in the southern Indian state of Andhra Pradesh, the technology is already being applied. The government there is working with Swedish startup ChromaWay to set up a blockchain based land registry system that allows people to collateralize property, receive loans, and invest in that asset. Tracking property ownership using blockchain allows people to avoid disputes, frauds, and errors, while also lessening the administrative hassle of registrations and title transfers. Andhra Pradesh’s neighbour, Telangana, is also digitizing its property documentation system.

Registries around the world are currently laid-out in one of three ways: on paper, in a database, or as digital files in machine-readable form. The latter of these three is where most land registries ultimately hope to end up. According to August Botsford, Chromaway’s chief security analyst: “It’s more efficient, and you can do more with your data, including analytics and automation,” (this according to Quartz).

Beyond land registries, blockchain can also help put a stop to other fraud, such as identity theft. To reduce the chances of getting hacked, a growing concern in India, the platform can manage digital IDs. Currently, if you pay for something online, you turn over unencrypted personal information that gets stored all over the web. With blockchain, only encrypted, relevant information will be released — and only when necessary.

A step ahead of other states in implementing the technology for land registries, Andhra Pradesh also entered into a partnership with Swiss cybersecurity firm WISekey, making it a frontrunner in securing citizen’s data as well.

Most people associate blockchain with cryptocurrencies – but its uses extend far beyond this. Blockchain is so much more than just Bitcoin.

The blockchain is being adopted by more and more businesses. In many cases, it is completely transforming old business models and pumping new life into companies. IBM is only one example of this. In as little as three to five years, the number of businesses using blockchain is expected to increase exponentially.

What Actually is Blockchain?

Essentially, blockchain is a huge decentralized ledger of transactions. It is maintained by many decentralized sources, meaning there is no centralized authority (such as a bank or government).

As a result, transactions that are recorded in the blockchain are secure and irreversible.

This transparent method of tracking transactions is quickly proving to be one of the most exciting revolutions of the century. There is no end to the list of applications it can be used for.

How Can Businesses Make Use of Blockchain?

There is a huge variety of applications for blockchain. Some examples of potential future blockchain applications include:

  • Audits – Blockchain offers a permanent, immutable transaction record. It is guaranteed to be accurate, which makes it easy to create an easy-to-follow trail for audits.
  • Voting – Using blockchain for voting allows votes to be moved along the blockchain in an accurate and secure way – much like how cryptocurrencies are transferred. Immutability and transparency are both a necessity for election results, and using blockchain could strengthen their validity.
  • Smart Contracts – Using blockchain to implement smart contracts will enable organizations to handle large sums of money automatically, without divulging sensitive information.

Even a quick glance into the technicalities of these examples demonstrates how blockchain isn’t just a revolutionary advancement in technology – it’s a complete paradigm shift that changes who is in control.

How Can We Implement Blockchain in Businesses?
There are already several companies racing to be the first to bring blockchain to the business landscape. One of these companies is Jelurida.

Jelurida is the company behind the popular Nxt Blockchain Platform – an advanced open-source platform. It was one of the first blockchains on the market, meaning it offers many functionalities that newer companies are still yet to implement – such as a marketplace, a voting system, and a shuffling functionality for anonymity purposes.

Nxt was the first 100% Proof-of-Stake (PoS) that is completely scalable for businesses and requires no power consumption.

This is huge news – especially at a time when the Proof-of-Stake mechanism is becoming more and more popular. Vitalik Buterin, the creator of Ethereum, recently released a rough implementation guide outlining the planned transition from Proof-of-Work to the Proof-of-Work/Proof-of-Stake hybrid.

There are many reasons why more and more blockchain startups are making the transition. The switch has only become more urgent following the China ICO Ban, amidst fears that the next ban will fall on crypto mining factories.

Following Jelurida’s success with Nxt, they are going full steam ahead with their next project – Ardor – a scalable blockchain platform for businesses

Jelurida’s platforms allow businesses to leverage the power of blockchain to build their own smart contracts. They are even more secure than Ethereum for this purpose, and they are also easier to adopt. This is because they are built in Java, and will not require business employees to learn new programming languages, such as Solidity or other blockchain languages.

This dramatically cuts the learning curve and saves time and money for companies who want to get started using blockchain technology.

Ardor’s platform design even allows businesses to make their own ICOs and collect their funds directly in whichever currency they require.

When Can Businesses Start to Implement Blockchain Technology?

Given how much blockchain technology is going to disrupt our conventional methods, it could be quite a while before we see mass adoption. However, many experts have agreed that the mass adoption of blockchain technology is becoming inevitable.

After 1 year of testing, Ardor will be released on January 1st. This will be a huge step forward in enabling businesses to adopt blockchain technology in an easy, scalable way.

It is very likely that 2018 will be the first year we start seeing successful blockchain-based businesses.

When most people think about high-tech innovation, the former Soviet bloc is probably one of the last places on Earth that springs to mind. However, Belarus is making efforts to change that. Thanks to a progressive piece of legislation that was signed into law last Thursday, President Alexander Lukashenko is hoping that the brightest minds and most innovative companies from the fintech and blockchain space will choose to call his nation home.

The law legalises cryptocurrency transactions amongst other provisions. It’s hoped that these will drive private sector growth in a State that has been burdened with an overbearing bureaucracy that was left behind after the fall of the communist regime in the early 1990s. By liberalising the economy, it’s thought that the nation will be able to attract greater levels of foreign investment. In somewhat poetic language, Lukashenko spoke of his plans to create an environment suitable for technological innovation earlier this month:

“All smart and intelligent people know what stability and order are… They’re all trying to reach that shore. We’re prepared to arrange a dock and even a harbour.”

The presidential decree will make it legal for citizens to participate in initial coin offerings, as well as for companies planning them to run their operations from Belarus. It will also legalise all cryptocurrency transactions, as well as giving those making them a tax break for the next five years.

In addition, provision is being made to allow companies relief from the often-confusing Belarusian legal system. Instead, they will partially be governed by English law. Denis Aleinikov, a partner at a Minsk-based law firm and main author of the law, spoke to Reuters about the hurdles foreign companies encountered, prior to the change in legislation:

“We regularly faced legal problems. When a Western company buys a Belarusian company they try to structure the deal outside Belarus… Investors don’t want to deal with Belarusian legislation.”

It’s hoped that the decree will provide a haven for fintech companies who are often trying to innovate in unsure legal climates around the world. The security provided by a friendly legislative will surely prompt greater innovation. This will be mutually beneficial to the companies, their employees, the industry at large, and the government of Belarus. Anton Myakishev of Microsoft Belarus elaborated:

“It gives the industry the possibility to make a leap forward in its development and allows foreign capital the possibility to come to Belarus and work in comfortable conditions.”


The global prediction market is growing at a very fast rate, and this is due to the increasing level of information available over the various fields of predictive outcomes that make up the industry such as the prediction markets and sportsbooks.

A largely redundant system

Despite how widely the awareness surrounding this industry has spread, the huge potential therein and the flexibility that it could offer to participants is yet to be achieved mainly because of the current structure of the industry. For instance, the centralized nature of traditional betting platforms implies that users deposit funds while earning no interests and more or less leaving such funds dormant for long periods of time. Also, on these platforms the rates at which betting odds are renewed or refreshed do not represent real-time data efficiently, therefore participants are deprived of the opportunities to have the best odds per time.

Another setback that comes with the existing system is the process of scanning various sportsbooks to find the best line, which is time-consuming. This process, combined with the liquidity issues discussed above, leads bettors to spend time doing monotonous, inefficient work, with a fraction of their working capital available.

Unleashing the resident potential

By implementing blockchain technology, BlitzPredict is focused on releasing the numerous underlying potentials of the betting industry to make for an efficient and trusted practice amidst improved beneficial opportunities for participants.

Such issues of trust and liquidity are still lingering among participants in the betting industry, sports betting “experts” aren’t held accountable for their predictions. Experts can lie about their track records and claim they bet at numbers that never existed. As it stands, being a successful sports betting tout is more an exercise in marketing than in accurately predicting the results of events. Also, the rivalry that exists between different analytics groups who compete independently toward the same goal, instead of cooperating makes for a non-progressive industry.

By providing a suite of smart contract tools for users to better interact with sportsbooks and prediction markets, a transparent and trusted ecosystem is being introduced by BlitzPredict. On this platform, users will be able to set up smart contracts to execute when specified criteria are met. The goal is to bring the power of an advanced betting syndicate’s tools to our users.

The blockchain efficiency

While also functioning as an aggregator of sportsbooks and prediction markets, by constantly refreshing the odds like a stock market ticker, it will be ensured that users will always get the best odds available for a given bet. Blockchain implementation streamlines the process to make prediction markets as simple to navigate as traditional sportsbooks.

One of the utmost desires of users of blockchain products is how efficient the platforms exchange process can function, especially in the spontaneous prediction market, where players want to cash out and take profit as often as they can. The Bancor protocol that is implemented by BlitzPredict enables users to convert their tokens without waiting for any third-party buyer or an external exchange. This same protocol further provides liquidity and low rates for users of the platform.

Achieving independence

The ability to function from an independent angle is a key character in the prediction market. This can only be possible for participants when they are equipped with sufficient analytical tools that will help them understand the market direction in real time. This is one of the rare benefits that the platform offers by incentivizing sports analytics experts who contribute to the platform and work to create powerful predictive models.

The secure and streamlined implementations of blockchain protocols will onboard casual users to partner operations, bringing users with no previous blockchain experience to the low-vig, high-volume options in the space, and deliver a beautiful, easy-to-use experience.

Nowadays, Bitcoin is dominating cryptocurrency and financial headlines. Everyone wants a piece of the blockchain action, including large multinational banks like Goldman Sachs, who may have a cryptocurrency trading desk in place by June 2018. However, Bitcoin isn’t the only cryptocurrency worthy of investor attention. A quick perusal of the entire market shows that many coins are having an excellent 2017. One coin in particular, Qtum, has seen an 850% plus price increase since its launch in May earlier this year.

Now, these rapid gains may lead some to cry “bubble”, but it is much more than a shell coin with no real potential. Rather, Qtum is an open source blockchain project started by a Singapore-based company. Its goal is to combine a fork of the Bitcoin Core with the Ethereum Virtual Machine and a Proof-of-Stake protocol.

This unique hybrid system allows the network to run smart contracts and decentralized applications (dapps) on a similar infrastructure, giving businesses and developers an environment that is easy to work with. In essence, the platform will bridge the gap between blockchain technology and business by becoming the public blockchain for businesses. The goal is to penetrate various industries like telecommunications, finance, logistics, and manufacturing with the objective of increasing operational efficiency and output.

The New and Better Ethereum?

Currently, the Ethereum network is the leading smart contract system that many companies and dapps use as their basic infrastructure. Unfortunately, the Ethereum network is riddled with deficiencies.

First, the network’s Proof-of-Work protocol hurts scalability and results in high energy costs. Though the team has announced they will be switching to the PoS consensus, no firm date has been given for the hard fork. Second, Ethereum code and smart contracts are not as secure as originally thought. Although The DAO fiasco has been put to rest, the network still isn’t as secure as it should be. Third, and perhaps most importantly, the Ethereum network struggles to scale as blockchain bloat becomes an increasingly large problem. With more data and transactions being logged every day, many fear the Ethereum blockchain is just too cumbersome.

Business and developers who want to make use of smart contracts can instead consider the Qtum blockchain. It de facto has a leg up on the Ethereum blockchain because it already uses Proof-of-Stake for consensus. This alone will help the blockchain scale and reduce bloating. Its x86 virtual machine (VM) allows it to effectively execute smart contracts, even those that are too complex for Ethereum’s VM. The existence of a fast, more streamlined blockchain coupled with a powerful VM is a major win for developers.

What’s more, unlike Ethereum, the network is constantly backwards compatible. Thus blockchain technology can be implemented by a wide variety of users, further decentralizing transaction verification and theoretically allowing applications to run forever.

Because Qtum is based on both the Bitcoin and Ethereum blockchains, Bitcoin-based and Ethereum based applications are able to port quite easily. For developers, this provides a tremendous layer of flexibility that neither the Bitcoin or Ethereum blockchains can provide. It also opens up a whole array of opportunities for businesses who would be otherwise limited by blockchain incompatibility.

In an additional effort to make the platform more appealing to businesses without prior blockchain experience, the platform permits smart contracts to be coded with well-known programming languages like C, C++, and Java. What’s more, because of the platform’s structure, it is easy for businesses to create their own tokens and smart contracts customizable for their business applications.


The establishment of a simple payment verification (SVP) protocol is built into the codebase, so smart contracts can be executed from lite wallets which can be installed on mobile devices through dapps. This gives businesses the ability to conduct operations on the fly without having to always run expensive network setups.

In light of these features, it’s no wonder Qtum’s price has been on a tear. The platform is a revolutionary public blockchain that provides businesses with true utilitarian value.

In the digital age identity is a nightmare. There’s no other way to put. We’ve all been through password hell. We’ve all had alerts on our phones telling us we’ve just requested to change our password when we didn’t or received unsolicited phishing emails trying to get information under false pretenses.

There have been solutions offered up to end the pain but none are total solutions.

You can store all your passwords behind one master password for example, but you are still relying on a password. You back that up with two-factor authentication, until someone gets hold of your phone number by nefarious means and is able to launch a porting attack where a criminal tricks your phone company’s customer service staff into sending the access code to a device under their control.

And for corporations, the problem of securing customer identification data and other information they store can be equally burdensome.

VALID puts you in control

Enter VALID, the brainchild of Swiss digital identity and e-government services provider Procivis.

VALID is what’s known in the trade as a provider of self-sovereign identity, which is another way of defining an individual or corporate entity that has full control over their digital identity and which they can store securely locally to them, such as on a smartphone. If digital information is the new oil that greases the gears of our economies, then putting consumers in control of their identity is going to be crucial for both the identity holders and data consumers.

Marketplace makes your data your asset

And as valuable as security is, that’s not the end of the story. Putting your data for your own benefit is where things get more interesting.

If we can gain control over how our identities – and the information associated with those identities – are used, it holds out the prospect of empowering every individual citizen to decide for themselves who uses their data and a mechanism to demand a payment in return for that usage.

VALID has brought into being a marketplace to connect self-sovereign identities with data consumers, such as advertisers, who would like to access that data.

Regulation makes VALID a necessity

This might sound all very blue sky and in the future. Actually, the opposite is the case as the question of managing identities is already a pressing regulatory concern in Europe. In May 2018, that’s to say in just six months’ time, the European Union’s privacy regulation framework, the General Data Protection Regulation (GDPR), comes into force.

GDPR confers on individuals the right to know who is using their data, to get a copy of that data and requires companies sending marketing materials to consumers to have explicit permission to do so from the targeted persons.

For companies, record keeping on all its interactions with customers, present and future, becomes mission critical. If a company does not have an accurate audit of its customer base it could damage its ability to conduct its business.

In the UK policy think tank Reform produced a report in December urging the government to use blockchain technology to help citizens secure their interactions with public bodies. Specifically, Reforms argues that decentralised ledger system ‘control of public service identity can be moved from government to the individual.’

Well-positioned in Europe… and the world

Procivis and its VALID marketplace are well-positioned to provide the solutions that companies, individuals and governments will need. The identity specialists already work with governments around the world to help them execute plans for digital identities.

Its eID+ electronic identity system was accredited by the Swiss government on 4th December 2017 with its official launch planned for Spring 2018 following the successful completion of pilot testing. The backbone of the ecosystem is a blockchain-based digital identity solution

The three-step approach of VALID is comprised of verification of self-sovereign ID, a digital vault for your sensitive personal information securely encrypted and the marketplace where you can monetize your personal data. At the centre of that ecosystem is a mobile wallet for individuals and a web interface for the data consumers, which could be public bodies or companies.

Initial token offering in January 2018

VALID will be launching its initial token offering (ITO) in January 2018 after further discussion with early-stage backers, who include Eva Kaili, Member of the European Parliament and president of Bitcoin Association Switzerland and serial entrepreneur Malik El Bay, former chief executive of, the blockchain-based pioneer that provides a solution to maintain the data integrity of supply chains. El Bay led Modum’s token sale in which it raised $13.5 million.

Partners include Swiss law firm with an international footprint Froiep, crypto trading platform, mobile wallet and community hub Lykke and German-based Queo, a group of companies offering services in IT and software consulting, brand management, project planning and more.

The aim of VALID is to make your data your asset and with your help they will do just that. There are other players in the field, such as uPort for example, but none has government accreditation I the way VALID does. For more information on the VALID wallet, marketplace and token, check out the whitepaper and join the Telegram channel.

SophiaTX’s Token Generation Event (TGE) has officially come to a close. The project, led by CEO Jaroslav Kacina, has made some noise in the blockchain world as of late. A true testament to that was proven in the first round of their TGE when they generated 30,000,000 SPHTX tokens in just over 24 hours.

That first round set the bar pretty high and the team seems to have rose to the occasion, raising a total of $23,470,356.50 (according to coinmarketcap rates on Monday, December 18, 2017), despite BTC hitting new all time highs, some major exchanges having transaction problems, and the Ethereum network being bogged down.

The total amount of tokens generated came out to 49,145,275.140035644 SPHTX. One of the unique features of their TGE was that all 150 Million SPHTX tokens will be distributed (not burned) as promised to all participants on a pro-rata basis. Even more good news comes Friday, when their token, SPHTX, will be listed on QRYPTOS, then EXX exchange, and more coming soon.

Their TGE is finished, but SophiaTX is just getting started! Team announced an Early Adoption Program, where those who register can become one of the first to get their hands on SophiaTX and see how it can transform their business or project. This incredible opportunity is open for registration now on their website.

2018 is going to be a busy year for us and we look forward to the road ahead. As we begin the year, we will focus on optimizing our Testnet Blockchain and web browser, as well as converting our proof of concept into many use cases and business scenarios, which we are very excited about.” explains Jaroslav Kacina, CEO of SophiaTX and Equidato Technologies AG.

According to SophiaTX’s timeline on their website, 2018 will bring the release of their wallet, marketplace and development platform, along with the launch an SDK (software development kit) ready for business integration. Year 2018 will see a lot of SophiaTX innovations including IoT integration, a mobile application, advanced encryption, a full web client, and more. The team also announced they plan to publish many more updates showing their progress throughout various stages of their evolution.

We immensely appreciate all of your support and thank you for helping us achieve an outstanding result from our TGE. The team here at SophiaTX will remain busy in 2018 and beyond, putting the funds we raised to good use ensuring only the best quality products for our clients.” said Jaroslav Kacina.

About SophiaTX

SophiaTX is a blockchain platform and marketplace for businesses of all sizes, and the first open source platform to primarily integrate blockchain technology with enterprise applications such as SAP, Oracle, and others. 74% of transaction revenue worldwide touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B collaboration and communication.


This year, a large number of decentralized social networks have been created: some of them are already functioning and some are undergoing different stages of testing. The real battle for users is just beginning, and the content creators can yet again feel their value, being rewarded for their work. The era of decentralized Internet is gaining its momentum.


In 2016, the world’s first decentralized blockchain-based social network was launched. Now Steemit is considered one of the most important blockchain projects.

Roughly speaking, this resource is in some ways similar to Reddit, with the only difference is that users can get real profit in the form of Steem cryptocurrency for creating interesting content. And the entry barrier is minimal: it’s enough to just create an account and start making money.


Due to the geographical limitations of Steemit in Eastern Europe, the platform was forked creating the Golos project. The main difference with Golos is that it is designed specifically for Russian-speaking users: the platform’s developers believe that users who do not speak English have very few chances to participate in the daily distribution of awards for Steemit. The economic model of Golos is at the moment the same as in Steemit.


It would be strange if there was no project of a decentralized Ethereum-based social network.

The social network Akasha has similar functionality and capabilities as Steemit, at least at the alpha release stage. It allows users to publish articles, vote for the articles they like, post comments and, in the long run, get paid for it. But, unlike Steemit, transactions on Akasha are quite expensive, because they use gas, as in any other Ethereum-based application. And this is the main drawback of the Akasha platform.


In the development stage, the project looks quite attractive to ordinary users. It includes possibilities of social networks, such as Instagram, as well as instant messengers, it has a Steemit-like earning model, but payments for likes are paid in the two most popular cryptocurrencies:  BTC and ETH.

Users can feel confident using the app, knowing their data is protected through the blockchain, which stores all of the information in a decentralized network.

As a digital transformation leader, e-Chat builds distributed platforms and next-gen capabilities like machine learning, IoT, and speech/image recognition. Our unique blend of user-design, data disciplines, and understanding of the customer journey delivers a richer user experience, easier consumption, and powerful emotional insights.

As a result, we can say that decentralized social networks are only in their initial stage of getting attention. The above-mentioned services are likely to be one of the first major blockchain applications. Maybe they will be able to go as far as changing traditional media and how they work.

Yes, right now these platforms are small, slow, and expensive. But once viable strategies are identified, Twitter, Facebook, and Instagram can begin to worry about their future.

It is quite common to find yourself being an owner of the bunch of stuff you don’t really need. If it’s the usual junk, you can just take it to the flea market and make a bit of cash out of it. But if it’s digital junk, the situation can get really complicated. If there’s no specialized selling platform, it’s gonna be a pain in the rear for you. You are not gonna face this problem with NAGA.

NAGA has developed an entire marketing ecosystem that allows you to sell digital things or exchange them for Apple shares or anything else that you’d like to invest in on the financial markets. A couple of clicks – that’s all that it takes. Of course, this works not only for in-game skins but for all types of goods that can be sold or exchanged inside the Switex platform. The exchange is performed through the NAGA Wallet by using NAGA Coins.     

Basically, the company’s main goal is to merge the financial markets, cryptocurrencies, and the digital items market, so that the sales transactions can be conducted in the most convenient way possible. Moreover, this has to be achieved within a strict legal framework. NAGA has a history here after having gone public on Frankfurt Stock Exchange in July. To do this, the company passed through all the necessary inspections and got all the licenses needed in Germany. Besides, the important NAGA feature is that its popularity is supported by the substantial sales of tokens. There is considerable demand for NAGA services, so the platform will be able to receive profit directly after the ITS. And, as they say, there is no business without profit. One should avoid companies that don’t have a clear monetization system.  

Anton Kryvko, big data scientist and technology evangelist definitely thinks so. According to him, among the dozens of other offers on the markets, NAGA is an outstanding one:

“NAGA’s idea to exchange virtual currencies for services and goods, in general, is not a novelty. A lot of local startups try to create something similar with their own social network and virtual currency that, potentially, could have been exchanged for goods, but generally they failed. NAGA seems to be way more perspective. It has already issued the working product and taken the obligations to serious investors (backed by FOSUN Group). This decreases the risk that the project might “suddenly” disappear, as often happens after an ICO is conducted.   

Potentially, it looks really good, taking into account that NAGA offers workshops for traders and great cashback bonuses too. The project’s success will ultimately depend on the amount of people, who use it. But given the rates of NAGA token sales, it already has a wide community that is more than ready to support it.”

Above all, NAGA aims at not only making the item trade less complicated but also making it accessible to everybody who avoided it earlier. People tend to avoid the trades because of an immense bureaucracy embedded into the contemporary financial systems. Now you don’t need to go to the bank and fill in tonnes of papers before entering the markets. All you need is your enthusiasm and NAGA tokens, which can be used to buy and sell whatever you like.

Halyna Herasym, a grad student at San Diego State University, plays DOTA 2 several times a week. She rarely uses the dropping in-game skins:

“After spending more than 3000 hours in DOTA 2 I realized that I own a great deal of useless stuff. I am just not a great fan of all the cosmetic items, moreover, I usually find them really annoying. I would have sold all the equipment by now, but the platforms, that allow the transactions with the in-game items are usually unreliable, extremely inconvenient, or, sometimes, both. So, as a gamer, when I found out about Switex I was really thrilled. It would be really handy for people like me, since it’s convenient and reliable. Can’t wait till it is be launched, so I can get rid of all the items I own and spend the resources on something more useful”.   

It is hard to predict the way NAGA and similar platforms will influence the market in general. Nevertheless, we can be certain about one thing: they will make life of many people way more comfortable. Now gamers know not only “what to sell”, but also “how to sell”.

Join NAGA’s Telegram, that has more than 10,000 active members, to stay tuned.