3 Ways to Survive in a Competitive Market
X Infinity is a Fintech company based in Singapore founded by a blockchain enthusiast, Eddie Chong. The company is dedicated to development of the X Infinity wallet application. It serves purpose in achieving its vision to enable blockchain assets to be used by anyone in the real world.
There are a number of ICO projects that have similar concepts and the company is aware of its competitive environment in the crypto market. Despite that, X Infinity retains its value of commitment to offer the best cryptocurrency wallet. To realize that vision, strategic positioning is essential for the marketing initiatives. It distinguishes the quality of the product and how it will differ from competitors. Here are 3 ways X Infinity keeps afloat in this grueling market.
1) Identifying market drivers
Looking at X Infinity’s vision, the company conducted a research to get insights over the crypto market. The outcomes of the research have identified a number of market drivers. This include rising numbers in online transaction, advancement of technology streamlines the payment gateway, rising number of cryptocurrencies and expensive fees.
Referring to the market drivers, X Infinity sets up its own principles to promote the use of cryptocurrency in daily life. As a result, their missions are to provide a crypto friendly application that is convenient for the user, with small transaction fees, accessible anywhere and support cross chain payment.
2) Competitive Pricing
X Infinity puts the competitors under pressure with their pricing strategy. X Infinity wallet application can be downloaded for free. There are no registration fees and the user can immediately make transactions through the application. There will be no charges to transfer XIF from one to another. Unless, it is transacted into a different platform or using different cryptocurrencies then there will be small fees incurred. But rest assured, it will be just transaction fees. There are no hidden fees such as pin changes fees, registration fees and monthly account management fees.
3) Minimum Viable Product (MVP)
X Infinity developed a Minimum Viable Product (MVP) before they made the announcement for the official date of the main sale. Typically, the creation of prototypes comes after the main sale due to the insufficient and/or limited access of fund allocated for the research and development of the project.
Competitive advantages positioned X Infinity ahead of the competitors
The strategy crafted by X Infinity was well executed. It sets apart the company in the competitive market. Strategically, it positioned the company ahead from the others. The company’s competitive advantages have caught the attention of the audiences in the crypto market. The ICO have successfully accumulated funds and reached its investment target.
For more information about X Infinity wallet, please go to X Infinity’s official website: http://www.xinfinity.io
