Abhishek hosted a live AMA session with the community on 6th June. He answered questions from the community while addressing the road ahead for the company.
Abhishek highlighted five major aspects — progress of Nucleus Vision, nCash utility, global business expansion, the recent partnership with Eleven01, and team expansion, during the session. Here is a rundown of the AMA:
Nucleus Vision Progress Update:
Nucleus Vision has made considerable growth with several major milestones achieved. The company has expanded its ecosystem to 15 leading brands, including Nautica, US Polo Assn., GAP, Unlimited, and Gini & Jony among others. Association with these brands has opened up ways for the company to deploy the ION Sensor technology in 30,000 stores across the country.
Nucleus Vision is a data-driven company and has created a strong & secure data pool with access to over 140 million cellular users. Using the vast information available, the ION sensors in the partner-stores have identified more than 400,000 customers. Analyzing the shopping behaviour of these customers, Nucleus Vision technology pushed about 13,000 offers, which resulted in a massive 24% redemption rate.
Following the success of these pilot projects, Nucleus Vision is shifting gears with a strong business model, which includes a fixed monthly subscription fee from retailers and monthly revenue share of sales through coupon redemption.
nCash Utility:
Answering the questions about the utility of nCash, Abhishek shed some light on the future actions of Nucleus Vision. As part of these plans, the company will roll out an interoperable loyalty program in the later phases of partnership with the brands. Under this loyalty program, retailers will reward their customers with nCash tokens. This will greatly increase the utility of nCash as people can use the tokens across the Nucleus Vision ecosystem.
Global Business Expansion
Amidst concerns over the state of blockchain and cryptocurrency regulations in India, Abhishek reassured the community that Nucleus Vision is a global company with its horizon expanding to international markets. He emphasized the plans to expand operations of the company to the North American and European markets by 2020 and later to other markets including Japan and Sri Lanka. The company has already expanded its footprint to the Korean market with its partnership with ZOYI Corporation and StarFeed.
Partnership with Eleven01
Recently, Nucleus Vision has made an announcement on the exclusive Eleven01 airdrop for nCash holders. While the community is curious about the partnership between the two pioneering blockchain companies, Abhishek stated that he wanted the Nucleus Vision community to get a benefit from this partnership and decided to give away his advisory tokens as an airdrop.
Team Expansion
As Nucleus Vision is growing bigger with its wings spread to the international markets, the company is planning to add fresh talent to each team including hardware, software, and marketing. The company also considers hiring interns and community managers from the community to amplify community management activities. More details will be announced soon.
In his closing lines, Abhishek Pitti thanked the extremely supportive community for their love and trust in what Nucleus Vision does to create a new-age retail experience. He also spotlighted on the ongoing talks with the government of Telangana and other public and private stakeholders about hosting the next season of International Blockchain Congress (IBC).
You can watch the full AMA here:
Team Nucleus Vision is working relentlessly to drive sustainable business growth and deliver immense value to the community and retailer-partners.