The new emerging field of cryptocurrency technology is anxiously searching for a genuine purpose to solve problems and deliver value to the marketplace. It must find solutions that the end-user needs, wants, and is willing to pay for.
This genuine purpose, or “Utility” is required to take the next steps towards mainstream adoption.
Utility also solves a critical problem with cryptocurrency price volatility. Currently, almost all buyer demand is coming from speculative trading. This is the most emotional demand that changes radically based on the latest news. It’s understandable why cryptocurrency prices are drastically rising, dropping, and crashing when they are completely dependent on the whims of emotional speculators.
“The successful coins and tokens of the future will generate most of their buyer demand from utility.”
The Nexxus Token has real utility as the internal currency of Nexxus Rewards. Nexxus Tokens are used to reward shoppers for their patronage of Nexxus merchants.
Buyer demand for the Nexxus Token is created with every shopping transaction. Merchants gladly pay the money used to purchase Nexxus Tokens in exchange for the valuable services provided by Nexxus Rewards to help them get and keep new customers.
HERE’S HOW IT ALL WORKS
Merchants decide what percentage of the sale they will offer as a reward to the shopper based on their profit margins. Low margin businesses like a gas station or grocery store may be able to only offer a 1% — 2% reward. High margin businesses like a hair salon or a dry cleaners may offer 15% — 20% or more. The reward goes directly to the shopper.
Merchants also pay a small marketing fee for the valuable Nexxus Reward services. The marketing fee is a match of their reward percentage up to 5%. If the merchant offers a 1% reward then their marketing fee is only 1%. If they offer a 20% reward then their marketing fee is only 5%. The marketing fee is the gross revenue to Nexxus Rewards and among other things is used to pay for shopper referrals and to fund the charities for their assistance with shopper acquisition.
For example; A Church refers Shopper #1 who refers shopper #2 who makes a $100 purchase from the Merchant that is offering a 10% reward.
1. The Merchant collects $100 from Shopper #2 using any acceptable payment method.
2. The Merchant enters a rewards transaction for Shopper #2.
3. The Merchant pays $10 that is used to purchase Nexxus Tokens for $1.00 from the public exchange for the shopper reward.
4. The Merchant pays $5 for the marketing fee.
5. Nexxus Rewards gives Shopper #2 a $10 shopping credit that they can see on their mobile app to be redeemed like cash at any Nexxus merchant.
6. Nexxus Rewards gives 10% of the marketing fee as a referral reward of $0.50 to the referring Shopper #1 in the form of a shopping credit redeemable like cash at any Nexxus merchant.
7. Nexxus Rewards gives 20% of the marketing fee as $1.00 in cash to the referring Church.
During the IEO Nexxus Token sale, all NXR token purchasers are given a Buy-Back option for all or part of their purchased tokens.
When Nexxus Rewards purchases Nexxus Tokens from the public exchange to give to the shopper as a reward for a shopping transaction, it first looks to satisfy any Buy-Back options.
1. Holders of Buy-Back options are contacted in the order they purchased the Nexxus Tokens during the IEO.
2. They are given the option to accept or refuse the one-time offer to sell all or part of their Nexxus Tokens to Nexxus Rewards for $1.
3. If they accept the offer, they are given specific instructions to place a sell order for the specified number of Nexxus Tokens for $1.00 each.
4. Nexxus Rewards identifies the sell order on the public exchange and buys the order for $1.00 per token.
The list of Buy-Back option holders is managed in priority order based on the Nexxus Token purchase date during the IEO.
REAL UTILITY DELIVERS REAL PROFITS
The Nexxus Token has real utility as the internal currency of Nexxus Rewards. Buyer demand is created from every shopping transaction and is not dependent on speculative trading.
The purchasing power for Nexxus Tokens comes from merchant money they gladly pay to Nexxus Rewards for helping them get and keep new customers.
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