Elysian Onboards Over 10 New Brands for Ecommerce Platform Through a Partnership with iFashion Group
If you’ve been following the ICO space, you’re well aware that is has evolved rapidly over the past year and a half. When the concept of an ICO (or an alternative method of crowdfunding) first came into existence, it opened up a wide range of investing options to a large group of relatively uneducated investors. The burden of proof and due diligence requirements traditionally mandated by venture capitalists, family offices and syndicated funds disappeared overnight, with the only requirement for most startups being a whitepaper and working website.
Although this presented enormous possibility for young startups looking to raise capital in the space, it obviously had its drawbacks as many project failed to produce and succeed — even with the significant capital raised (irregardless of the scams). Casual crypto investors started to wise up to the fact that a simple business plan and a flashy website wasn’t enough, and many projects started looking to legitimize the ICO space by securing seed capital to help them build out an MVP before looking to raise additional capital through ICO investors.
Elysian went one step further.
As of today, not only have they developed a working MVP, but they have also secured their first confirmed customers for the Elysian Ecommerce platform. Elysian has worked out a signed agreement (Memorandum of Understanding) with iFashion group, a venture platform group focused on acquiring and partnering with Ecommerce ventures, primarily in the Southeast Asia vicinity. iFashion has a significant group of SME’s and brands which will go live on the Elysian platform from day 1 of their MVP launch. This will act as an immediate revenue generator for Elysian, opening up their platform to a variety of iFashion’s existing customer base. 10–20 SME’s & brands, who are currently under the iFashion umbrella, will be brought onto the platform through this agreement. iFashion will also advertise news of the partnership to its existing customer base of over 200,000 members.
On top of the initial deal which will provide Elysian with zero day customers, the partnership with the iFashion group will also provide a few additional items which will benefit the Elysian project and Elysian token holders.
- iFashion will drive news of the partnership through its social media and will launch a PR campaign regarding the partnership.
- Elysian tokens will be accepted at megaxstore.com and all items purchased with Elysian tokens will enjoy a 5% discount.
- iFashion will leverage its professional network to potentially lead to further investment through several high net worth individuals.
- iFashion will airdrop 10,000 MGX tokens to Elysian token holders.
- iFashion will act as primary advisors on the Elysian advisory board, adding significant experience in the Ecommerce space.
With several other technology partners already in place, this opportunity will allow for immediate customer acquisition and open the doors to an existing Ecommerce community and Southeast Asian Market. Taken at face value, the immediate customers will be a huge benefit to Elysian post-TGE, however the exposure alone makes this deal one that will act as an ideal kick-off point and drive repeated long term revenue for the Elysian platform.