Fiat Payment
TL;DR: By the end of October users will be able to buy NXTT with credit or debit cards through the Next Earth platform. This technology will be available not only for NXTT but to all Launchpad projects as well, strengthening our position as a true crypto gateway.
Fiat Payment
We introduced land buying with debit or credit cards earlier this year. Now it’s time to introduce fiat payment for buying NXTT too. This is a crucial step in attracting token holders from Web2, because with fiat payment and a proper custodial wallet solution, we can have NXTT holders who are not well versed in crypto. As we kickstart mainstream marketing, this’ll higher maximum conversion rates and ROI for a much larger audience.
This means that in order to make this happen we need two things: fiat payment processing technology and custodial wallets. As tested with land buying, our partner Wert is delivering the fiat payment widget. This is working well and Wert takes care of all the important licensing requirements for us — since they’re handling fiat, not us.
The second issue in question is custodial wallets. There are still a couple options we’re exploring including Venly (used by Sandbox and others). This will mean that within the Next Earth app, you’ll see a Next Earth wallet even if you haven’t connected your own wallet (or you don’t have one). On this wallet you can see the lands you bought, the tokens you own and if you connect let’s say a Metamask wallet, you can withdraw to your own.
The way this works in reality is a bit complicated because we wanted to make sure all payment is handled through our smart contract system.
This is an incredibly important step because not only we can finally attract Web2 users but this technology will also be available to all our Launchpad projects. As you can see, these developments will strengthen not only the Next Earth economy by attracting new users, but also strengthen the market positioning of our Launchpad with added value and services in a plug and play way.
Over the longer term, this will slowly move us away from just being a “crypto project” and position us as a Metaverse project that is available to everyone. This is critical in order for us to become a true crypto gateway. Because what many people often forget is that cryptocurrency and blockchain is back end technology. Most consumers will never know they’re using crypto even once it takes over the world. They don’t have to, the value is in the smart contract system that ensures fairness, transparency and immutability.
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