Very much off topic as everything I thought to ask has already been answered sufficiently, but can we readdress the brand refresh?
I’m assuming it was the new management that was the driving force behind it, and quite frankly I still can’t take the Nash app as seriously as an financial app as I could when it was Nathaniel leading the design. Just a personal opinion I know, but the very loud and hugely contrasting colours do not say trustworthy financial app to me. The old Nash colour scheme was much better. I don’t suggest changing the design, just changing the colour scheme back to the old Nash colour scheme would be good, or at least just tone the colours down a bit?
Also I still don’t understand why that woman on the website is lovingly gazing up at the Nash logo with her hair blowing in the wind and resting on her chin, its a bit much and its imagery I would not associate with a financial app. If it was a photo of her using the app, sending crypto to friends or buying things in a shop with her virtual Nash debit card then it would have made more sense.
1.Further will the partnership with primer.io would continue or these partnerships will also be terminated.
2.The kellogg led management team was from the payments industry and their vision had payments embeded in their thinking. Founders are mostly from a different school of thought. Dont you think that this decision would change company’s direction dramatically which we may not be able to handle.
3.Marc was the CMO, however he did not get a chance to perform as our product itself was not ready. I feel the marketing position should have been retained as the main goal before the company is marketing compared to anything else.
4.Are there no last words from kellogg led management. Were they released abruptly or was it a planned process streching over a month or so.
5.Launchpads strategy as mentioned above is a history. There are so many launchpads that don’t have any traction. I don’t think launchpad is a good way to move forward.
As a long-time Nash fan and supporter, my trust and belief in the future success of the company are waining, however, I plan to stick around for a while longer and continue to use and support Nash.
My questions are as follows:
I am an Australian and do not have access to all the Nash services and products. How long do you estimate before I will be able to use Nash for more than just storing my Bitcoin and the occasional swap? (Which I literally only use to buy more NEX.)
I would love to have access to the Earn product and more specifically use the Fiat ramps to buy my Bitcoin, but alas, I am forced to use a competing company to buy my Bitcoin and then send my Bitcoin to my non-custodial Nash wallet…
Nash is not really making any profit out of me, even though I have been here since the STO and want to use Nash for everything…
Do the remaining founders have any plans to reengage and connect with the community to drive and contribute to more community engagement?
I cannot speak for everyone, however, I personally don’t feel like I “know” any of the remaining founders, especially not in the same way @canesin and sometimes Ethan (@unignorant ) engaged with the community.
What plans do you have to increase community engagement?
Related to the question above, is there any chance of a modified (less costly) version returning of the trading leagues and or competitions? I feel like community engagement has not been the same since…
Back in the day, Nash started the “Inside Nash” video series and podcast. do you have any plans to bring something like that back?
I wish the team the best of luck moving forward, I appreciate your time and thoughts and look forward to hearing from you.
MARKETING
One of the previous replies mentions 6 months until most offerings in place.
I understand that there is or was some pilot marketing
When will actual marketing start in 6 months or sooner or later.
I mean full steam marketing growing business make or break time. Not just one country. Marketing all of Europe.
Maybe England if the powers that be in the old country get their act together and give Nash a license.
“Now the important thing is Nash built everything in the Q3 Q4 roadmaps and market it without dependencies of the whole crazy Crypto space or further external funding.” “Its already done not work in progress”.
Is this really the case? Development work has been completed even for Q4 goals? If so then thats great news. Does this mean we just need quality assurance testing?
ETA on GBP fiat ramps?
Nash described the L2 as a “Non-custodial exchange” rather than as a DEX, presumably because the matching engine is not decentralised. Considering that, what are your thoughts about Fabio’s idea of a non-custodial CEX? It would still fit the original description of a “Non-custodial exchange”.
I’m not suggesting another pivot, rather to run it in parallel. Mobile app for defi, and a non-custodial CEX for advanced users via the website. We already have our own fiat ramps, and if the licences Nash currently have would be applicable and suffice (it would be non-custodial after all) and the partnership with Woo Network is already in place to provide liquidity, then is it feasible?
You could also integrate some bots, split the trade fee 50/50 between buyer and seller to prevent the majority of people just running maker bots and set the max fee anybody pays to 0.1%, inline with market leaders. Would be great if the liquidity mining program came back as well as opposed to the leagues, so traders would know exactly what their rewards would be for a particular amount of volume and their rewards would not affected by the volume other traders do.
Thank you starting the questions yesterday. It really helped to calm the storm quickly.
I have another question if you dont mind.
What do the industry leaders Flybridge, NGC, and Maven do to support/help Nash in their growth?
I see these names as VC seeders but would they have any input on these salary decisions for their investments? Are they supportive? Is it not worth a few thousand to help stabalize and protect their investments?
I know its likely you cant share much detail, but can you elaborate on how they fit into todays Nash?
Thanks for the update. As an STO investor. I have truly believed in project and the founding team. My request is to keep focus on the product the brings prosperity to the Nash community. I wish everyone all the best
A big thank you to @Kellogg@Rob_F and Marc for everything helping Nash mature. Really wanted to see Marc flex his marketing with all products up and running, and the team as a whole leverage their networks to bring future partners to Nash. Genuinely wish you guys future success in your next endeavors.
Questions from a long time supporter:
What happened to all the future partnerships and discussions with other parties mentioned in your 2021 strategy shift? I seemingly recall 10-15 active discussions for some of Nash’s products (e.g white label fiat ramps). It feels like AVAX/POLY were big announcements, but now, nothing (omitting ANCHOR).
Considering the economic climate, the leadership change sucks, but is not surprising. To my point above about networks, didn’t the executive team open a lot of potential opportunities by means of networks? No disrespect to the remaining active founders, but you guys don’t have the 15+ years in fintech experience.
Regarding UK licensing, I’m confused by why it’s taking so long to get the green light. Nash has shared that it’s all about compliance from day 1. Is it due to Nash being non-custodial? Is Nash just sitting in the dark waiting or is there a plan to acquire the license imminently?
I have some doubts about “earnings” being in the focus of Nash. With the bankruptcy of Anchor, various DeFi hacks, bankruptcy of other lending platforms such as Celsius (I know it this does not translate to Nash for several reasons but it does affect the overall image of the crypto lending market) coupled with low APYs what makes you think common people would accept all those risks and put their hard earned savings into experimental, volatile and generally risky markets for low yield return?
People have been burned and they will think twice before engaging in crypto lending programs DeFi or otherwise. I have a few referrals that used Anchor over Nash and even though they didn’t lose money in the end (due to Nash paying out everybody), I was extremely embarrassed in front of the friends whom I on-boarded to Nash and even though they are very grateful for the Nash bail-out they will not use any earnings programs again and I don’t blame them.
Earnings is an OK option for Nash to feature but because of all the circumstances described above I don’t see it as something that has mass adoption anytime soon. Not for any fault of Nash but because of the larger context.
Nash, being a regulated and non-custodial fiat ramp with IBAN support is great for B2B partnerships and engaging with traditional companies that want to explore crypto. I think the real potential is in the B2B since Nash has the most benefits in this space. ICOs through Nash that @LucianoEngel mentioned is a great idea, perfect for Nash. Both the end customer and the company have the MPC wallet security, non-custodial approach, all regulations are met and the customer doesn’t even have to hold crypto (since Nash supports IBAN accounts) so the end consumer can interact with the ICO company directly with fiat. Similar partnerships should be explored for different scenarios, especially with traditional, non-crypto companies (gaming, webshops, booking agencies, and million other examples).
Will “earnings” be in the focus of Nash’s path to profitability?
If you plan on expanding services, can you provide a rough estimate of the expected % of revenue streams? For example, in 2023 you expect 50% revenue to be generated from earnings, 20% from various B2B and white-label partnerships, 10% from the L2 and 20% from all other services.
Good evening, The crypto world is expanding fast, I see projects out there with 1 tenth of what we have built, be successful and have many users, we are / have created something that for now people dream of building / have just started building , when will we start doing brutal marketing / Screaming to the whole world that we already exist ??
I kinda side with @Garda , the earnings side of things has taken a huge blow. To be honest after the Anchor debacle (kudos for Nashed on how they handled things), it will be a long time before I put my money in an earning protocol.
I"m wondering if Nash has plans for innovating in the DeFi space, even (hopefully) teaming up with TradFi players or traditional companies (interesting article on this topic) that want to get their feet wet in Defi?
Ethan and Fabio (who, let’s be honest, left like a thief in the night) are advising other projects and doing their own thing, but aren’t their technical skills important in this bear market building phase? They are helping other projects, while the start-up they co-founded is still a baby not able to walk comfortably on its own. Maybe, I’m not seeing this clearly, but when you raise money for your company, investors are usually expecting the founders to see this hellish startup phase all the way through. I would strongly advise the Lex Fridman interview with Brian Armstrong (Coinbase) as I gathered from the interview, there were barely enough hours in the day, let alone time to advise on other projects. Brian Armstrong’s advice for startups: " If you’re pre- product market fit, the best advice I have is, action produces information, keep trying things instead of debating things endlessly” More detail inside the interview
These are some quite big news, mostly impacting the long term perspective of nash. In this regard I do have two questions, one regarding the product side and one regarding the marketing side.
The product offering at the moment is quite strong in its horizontal scale. There is a Fiat on/off ramp, there are fully function wallets for multiple chains, there is a dex integration for multiple chains, there is a earnings market place, there is the L2 exchange and there is an IBAN offering (with cards in a later iteration) in the near future. Are future efforts planned to further introduce new products, like f.e. NFTs with a market place or Nash Link, or is it planned to vertically scale existing products, like expanding the ramp and wallet? This question aims at the mid to long term perspective.
What is the current state in marketing? Are there test campaigns running in any country at the moment? We received the last marketing update back in April. What is the progress on this field of the company? A status update on how marketing efforts would be great, no matter if totally positive, neutral or negative. Just honest information for the community.
Oh and hello community forum, long time not seen. Will it remain active in the future?
Thanks for opening up this AMA after this strong announcement.
I have 3 questions;
a start-up may need different leaders in different stages of growth. Are you planning (or open) to hire a new CEO, COO, CMO, at a later stage? I think Kellog and Rob had skills that were an addition to the skills of the founders and employees → hopefully you stay open for reflection/own weaknesses and evaluate constantly what is needed to make nash a succes.
Are some of the VC’s (like Maven11) involved in this decision? Are they still involved in the project and advising/supporting Nash?
I think Kellog, Rob and Marc had a huge network that can help the company grow, especially on the Dutch market… How do you plan to stay involved in the (Dutch) business networks?
Once you have most of your planned offerings live in 6 months time, will some dev resources switch back to the L2?
How could the past issues with the L2 be remedied (issues like crypto stuck between trading and personal wallets, liquidity, sometimes huge gas fees making it financially unfeasible to move crypto between the wallets, the apparently complicated and time consuming task of implementing new chains, etc)?
What plans do you have for the L2? Even just tentative plans or just loose ideas at this point?
Key management is only reason I still use Nash app. Furthermore the product is not competitive in terms of experience and quality. You acknowledge this ?
There was once a vacancy for a UX role on premise. Updates on this ?
It was once stated Nash has over 100K users. Can you take this honest opportunity to tell us the real number ?
Why do most employees seem to have math academic backgrounds and is there so little art, creative backgrounds ? You think the team could even work together with such different profiles ? Nash still a B2C fintech app ?
What did Resoluut give you and do you feel like you are capable of feeling and implementing it ? (Still does not look like it. What you gonna do about it ? )
The wallet section in the app didn’t receive an update for a long time. Will we see a revamp of the wallet section soon ? It would make sense to me if this comes together with the (new) card flows. Am I right ?
How is Nash dealing with production incidents handling ? How much incidents do you receive each release ?
Finally Much thanks to the Founders who still stick around.
Good luck everybody <3
Further will the partnership with primer.io would continue or these partnerships will also be terminated.
We continue to work with primer
The kellogg led management team was from the payments industry and their vision had payments embeded in their thinking. Founders are mostly from a different school of thought. Dont you think that this decision would change company’s direction dramatically which we may not be able to handle.
Please read our vision statement from 2021. We remain on track to realize that vision.
