Nova Token update — April 2019
Good day all,
Welcome to the monthly Nova Token update. Going forward, at the end of every month a detailed update on the progress of the Nova Token project will be published in the effort to provide a new level of transparency and direction for where we are going and how we are putting it all together. The Nova Token Telegram group is still the place to talk and discuss all things Nova however Medium is the preferred online watering hole for more formal, project-level updates going forward. So, grab a cool beverage, kick back and let us begin.
Marketing:
The main focus for Nova for the better part of 2019 will be on marketing the platform and the token, areas that Nova suffered from due to the heavy focus put on development. This is not a bad thing given that most projects are purely marketing and end up being nothing more than vaporware from the development perspective. Thankfully, Nova is in the opposite position where it finds itself with a tremendous amount of solid development work already put in relative to the marketing and awareness of the project.
To this end, the next six months of the project will have the majority of its focus on creating awareness in and outside of the cryptocurrency space. The largest stumbling block for the project, like most blockchains currently, is funding. To help remedy this, a dedicated effort is being put into creating awareness of the platform and token. The volume and price of Nova (NVT) is thus vital to the long-term survival of the project so that funds can be raised to help further development, build up the project team and begin to filter down into the collective unconsciousness of the crypto-gaming community. To help make this happen we have several angles we are taking.
Bounties:
Starting in the month of May, Nova will be running two bounty programs to help create awareness of the project while also putting some NVT into the hands of resourceful community members and followers of the platform. There will be a social media bounty program to help spread awareness and in lockstep we will have a content creation bounty program, with the goal of getting content curated and published online to spread the message about Nova. This is by far the projects weakest area so the bounty programs will be aggressively targeting this. Full details on both bounties including rules, timelines and payouts will be coming soon next month so hang on and get ready to start earning more NVT.
Exchanges:
Currently, Nova (NVT) resides only on ForkDelta which is simply too obscure an exchange to effectively create a true market for Nova. A dedicated focus has already begun on getting Nova listed on both more centralized and decentralized exchanges, with the initial effort to get listed on some medium-sized exchanges. This, of course, takes both time and money however we are speaking with several well known and well run exchanges about having NVT listed in the near future. This step is vital in creating the required on-off ramps for NVT to begin seeing more volume and eventually the price rise in value. This is where much of the funding for the project will be coming from so getting listed on 3 to 5+ quality exchanges before years end is a goal we are looking to aggressively achieve. As progress is made here we will keep the community updated so they can have a new place to buy / sell NVT.
Partnerships:
Another area of focus for the project, Nova is in the process of forming some long lasting and deeply strategic partnerships. During a bear market like this, teaming up with other similar-minded projects and companies that can help us grow long term is one of the best uses of our resources. Non-fungible tokens (NFT’s) are quickly becoming an established niche in the crypto industry and is experiencing tremendous growth right now. This means a lot of new players are entering the space and Nova is working aggressively to not only be on the radar of these projects but where possible, forming a strategic partnership with them. This can range from speaking with upstart gaming and NFT-focused DAPPS to crypto-gaming resources right down to media and press.
We currently are in the process of forming multiple partnerships which takes some time and legal resources to make official. As we progress down this path we will be letting the community and World know about these developments as soon as everything is ready behind the scenes. It is far to say that forming partnerships is one of the priorities for the Nova project right now as it brings both increased market awareness and offers us resources to utilize down the road once development is complete and we go live.
Social media:
Without a strong and consistent social media presence, most projects today will die a slow death. Nova has daily engagement starting up across many platforms including Facebook and Twitter, with Telegram being the main area of day-to-day communication for the project. A LinkedIn page is being created and this platform, Medium, will be used for formal updates going forward. The social media bounty program kicking off in May will also reinforce this for us.
Company:
A new legal entity in the form of a company is in the process of being established for Nova. This is vitally important as we are beginning to foster partnerships with other players in the NFT and crypto-gaming arena and to do this effectively a company must be established. This process will be complete soon and we will let the community know once that has taken place. This corporate vehicle allows us much flexibility in how we operate internally and how we are perceived externally. It also shows a level of professionalism and competence as in 2019 the blockchain space has matured to prime-time in terms of business.
Funding:
As part of the effort to create traction for Nova, the project is also looking at funding options. This effort is being picked up where it left off previously at the end of last year given there is a renewed effort and focus for Nova. The establishment of the new legal entity is also a stepping stone in allowing this to happen as it provides us and any future investor(s) with a plethora of more options to work with together. We will eventually reach a point where funding is not a major need for the project however until that day comes daily efforts are being made to secure funding to carry us through 2019 and beyond.
Conferences:
Conferences are still the single best way to gain both exposure for the project in terms of marketing but also in forming long term, strategic partnerships. To this end, Nova is going to be having a presence at the following events this year with more to be added as time and funding allows:
- Magic Crypto Conference, May 10th-11th
- Etherreal Conference, May 11th-12th
- Pocket Gamer Connects, May 13th–14th
- Consensus, May 13th-15th
We have several conferences lined up for the summer and fall however the focus currently is the next month or two so we will be busy (and busy is good!)
Development:
As mentioned above, Nova’s strong point is the amount of time and effort already put into the Nova SDK. Between the NFT creation tool, tournament organizer and in-game marketplace, we have a lot to offer games that are looking to bootstrap themselves to mobile while introducing blockchain to the mix.
As the market cap of NVT increases, funds will be allocated to conclude work on the platform so that we can begin plugging into DAPPS of all kinds within the eco-system. In terms of development direction, these are conversations the project is having now and will continue to assess the best path to take as the industry matures over the next half year. Ensuring we get the right mix of development talent versus costs is going to be one of the keys to success here as development will either market or break your project in terms of resources.
Website:
A new and improved website for NovaToken.io is being put together currently to reflect the new direction. Once this is ready we will roll it out and begin making use of it more than the current version is currently. Decisions like staking NVT and project members roles, legals and other matters are being looked at now so that when the website rolls out a polished and clear message is being communicated.
With the official separation of NovaBlitz we now have a sole, dedicated focus on the platform itself and this too will be clearly communicated. Stay tuned for the new website roll out which is in the works currently. A detailed road-map for the next year will be included to help newcomers to the project to better understand what we are doing and why we are doing it.
Community:
All of the above is all well and good however without community involvement, it really does not mean much. One of Nova’s best resources and secret weapons is in fact its dedicated community. The IQ for NFT’s and crypto-gamig is sky high in the community and the project will begun to actively work with and collaborate with community members who are in a position to help out and provide assistance. Going forward you will see more outreach being conducted by members of the project to help utilize all of the resources we have. With a set amount of funding to work with, every single contribution that we can realize from the community is going to get us that much closer to competing head-on with competitors like WAX and Enjin.
It is fair to say that Nova’s future success will be predicated upon how well it leverages its community and how strong the community support and engagement is over the course of the next six months.
Closing thoughts:
The project and community has been through quite a bit lately, between the now 16-month long bear market and the uncertainty of the project itself. A big ‘thank you’ to Paul is due for his continued efforts in keeping the project alive and helping bring in the required resources to make that happen.
An even bigger ‘Thank You’ to the Nova community for your dedication and support during this all. Many projects in the cryptosphere have already folded their hand of cards and left the table long ago, this industry is simply not for the faint of heart. We will be working diligently to ensure your faith and loyalty in the project is not put to waste and we all on the Nova project look forward to working with you closely as we take our rightful place atop the blockchain and crypto-gaming mountain.
Until next month, keep your friends close and your NVT even closer!
