Now that GA is approaching (Well, I hope, anyway) we have to start looking forwards to the marketing of Nash as well. I’m very curious what the growth engineer is doing, since we have not heard about this much yet, and what the employees responsible for marketing are doing.
I just really hope the marketing will be powerful and persuasive to get people to try Nash. The lottery didn’t turn out to be great and don’t think it will a second time, so I do hope that is not planned.
The main problem is that in crypto space you win if you have better marketing instead of better tech. This is quite obvious looking at the coins from Justin Sun, the binance launchpad hype, the central exchanges where for some reason everyone is fine with holding their assets, even after all the hacks and other shady things happening.
My fear is that Nash will not be able to get a foothold in this space, simply because users wont be interested enough or see enough importance in Nash.
Made this topic as a primary concern to discuss that I have about the project and therefore my investment in NEX. My other concern being that competition isn’t standing still, and is always improving and building for the future (and future regulation) as well.
Will nash be in time to get a foothold in this space, and/or have enough marketing to persuade users to give Nash a try and stick around?
Guys, when you’re building a house, you’re getting wet from the rain till the last moment.
Giving up on Nash now is like running a 100 meter race and giving up after 99 meters (oh wait… ).
Ok, enough with the cheesy metaphors: what was previously built - the matching engine, the refined UI, unprecedented trading pairs*, the mobile app, MPC API keys, all the tech and tools which will allow Nash to scale but are hardly visible for the us - all this forms the foundation upon which Nash will build from now on. It was extremely costly to build (we’re talking years of development) but it’s solid now. What comes next is the interesting part for the community: growth. And Nash has already been working on a solution for some time:
A customizable trading bot for the community to provide volume
Nash Pay
Iterating on growth method (lotteries, referrals, giveaways, contests and much more I’m sure) with the help of a freshly-hired growth engineer.
Forget marketing, marketing will be a bonus! Once this starts rolling out, growth will steadily catch on, then snowball. And who cares if it takes a few extra weeks to get there. Yes, I know you fear the bull market will not start without Nash being ready, but remember that a bull market does not last 2 weeks, more like a few months and it hasn’t even started yet.
I understand that the community might be getting impatient, but remember that Nash sets itself ambitious quarterly goals and is approximately aligned with those objectives.
About BTC pairs:
I don’t agree at all with this. They didn’t care till now because they didn’t have a choice. Just like they didn’t care about poor UX until Nash comes along.
BTC is slow and cumbersome. Requiring 6 confirmations instead of 1 is a slight downside I admit, but remember that volume does not come from the small time user who trades 0.1 BTC and wants to transfer it back to his personal account. It comes from algorithmic traders and institutions who leave their funds on exchanges all day since they are trading all day. To those people, remaining in control of their BTC far outweigh having to wait 1h more.
“Giving up on Nash now is like running a 100 meter race and giving up after 99 meters”
Im glad you agree with this being the last meters till Nash needs to start to win, and I fully agree with that. I don’t expect explosive growth either, but improvement in volume does need to start to happen after GA is out. (And GA shouldn’t be months away either)
However, i completely disagree that marketing will be a bonus. People don’t care about Nash, because in their mindsets, it’s just another DEX. Countless of those available that all claim to be revolutionary. This way of talking and promoting made people numb to hearing it over and over. They don’t care anymore, or in fact get aggitated by hearing about Nash. Nash needs to jump out there and show it’s not a shitty product/service. It needs to convince people to try Nash.
This could be done on several ways, but that’s part of marketing. Good posts, ads, referal program or getting people to talk about Nash.
Furthermore it is sad that NEX doesn’t move in a bull market, but thats okay, since i’m betting on dividends from a exchange. A exchange wins in both a bear and a bull market. With dividends, NEX will gain value as well.
Finally I also disagree about Nash Pay. Nash Pay is great, but there are also quite some simple to implement solutions already for merchants and stores. And yes, also solutions that convert to fiat for the merchant. Nash Pay is certainly interesting if you can pay really fast from the trading contracts, and the cheap conversion-only cost is also nice, But I do not forsee Nash Pay gaining big traction until the exchange itself gains traction. When Nash succeeds, their other services start to succeed.
That may be all and also have a technical purpose. But you can’t expect that from a normal user because he can do it on every website, just not on NASH. And the UX can be good there. Ultimately, this is part of user experience.
I am not sure about how soon GA ( I believe this is the phase where a bunch of new users will come to Nash), but I noticed below when traded in nash recently. These were minor for me as I am biased, not sure how new users will feel.
submitting/matching order - amazing and no complaints. At one point of time I think i did’t see 100% filled even after price dipped and needed a refresh (not sure if I navigated to a different tab)
Transferring USDC from personal to trading - it took a lot of time to initialize, i was not sure what’s happening but in the end it initialized and everything went fine as expected
Transferred 1000$ usdc to trading, is $1.34 fee shown normal ?
moving neo from trading to personal . why is there gas fees (i know its negligible but wondering i have not seen gas getting used anywhere)
All these above actions needed me to enter password and 2fa, need to see if there is any option i have selected causing. I don’t think i did a refresh… but I felt at one point it logged me out quick
I personally would like to know how the Fiat Gateway is doing, as the Audit was expected a few weeks back. Being in the UK and having no Gateway is a huge blocker for me and others. When you have to go to another exchange to get into the crypto space, why would people not want to just stick to the initial exchange.
Once that is done, and marketing comes online that is when volume needs to pick up. Not concerned till then, would like to know progress more frequently though.
Good marketing and a bad product win from good tech and bad marketing
You suggest tokens from Justin Sun (TRX) or Binance launchpad hype is “winning,” but the evidence depicts continued depreciation and loss for a majority of speculators not in the initial private sales. The above strategy has never worked in driving long-term user adoption.
For anyone who put $ in the security token offering, the most promising news was hearing the team to implement this methodology. I have worked on a number of projects that have avoided using a MVP and the results are ugly - abysmal adoption, no peer to peer promotion, and substantial development capital gone to waste.
Now imagine a product that has user needs built in, addresses retail and institutional pain points, and is turning the corner for full promotion.
I imagine the transition from MVP to general availability (GA) is happening in the ‘Visionaries’ curve. The promotion for Nash is fairly unknown, and I imagine this is the source of frustration for many speculators. Give the team another few months to promote and flex using their channel partners.
And regarding Marketing
From this blog post the team was active at the following:
Romania Blockchain Summit - Fabio on panel: “Will blockchain come with an alternative to fiat?”
Sponsored OWASP Allstars - Other sponsors included Google and Microsoft
Sponsored ACM - Advances in Financial Technologies -Other sponsors included Gnosis, Calibra, Facebook
The point here is marketing is about generating name recognition in the industry (vs acquiring users). Nash team members didn’t participate as attendees for key shows; they were on panels as leaders and industry experts.
Nice charts! While i definitely agree on mvp being good, this is crypto, and in crypto people feed on hype and rumors to buy and sell. Unfortunately most of the brains is missing or central exchanges wouldnt be storing these billions.
Good to see nash is doing meetings ofcource and agreed that this also falls under marketing. Not really possible thanks to covid 19 anymore but hopefully that goes away in a half year or so.
But yeah, still a lot of unknowns, and I am of opinion that the competition is fierce, every project trying to convince people they are revolutionary and the best.
So complex for me. It sounds like is something hard to do but nothing else that my brain can comprehend . I do get the vibe that Nash is just going to build until is successful and will not take away from the future. I believe in you Nash. You have my support.
I CAN ADD THAT THE BODY LANGUAGE AND THE APPROACH OF GETTING TO THE MARKET IS SOMETHING THAT I LOVE ABOUT NASH LEADERS. THE LANGUAGE USED IN AN INTERVIEW IS NOTHING LIKE ANYONE ELSE I’ve seen IN THE INDUSTRY. You have my trust, even if I don’t understand technical terms I understand your intentions and I respect you for that. I keep meeting new people and share your vision with everyone
Please refrain from using all caps sentences: it’s offensive and hard to read. Use bold instead if you must.
If you need help understanding some technical terms or achievements from Nash, my advice is to ask precise questions - like you’re doing above - here or in the Telegram channel. There are plenty of people who’d be happy to explain.
As for “GA”, it means “General Availability”. You can read more about it on this thread:
).
. I do get the vibe that Nash is just going to build until is successful and will not take away from the future. I believe in you Nash. You have my support.