Since the start of 2022, we have been focusing on adoption, and building towards two key results:
While our patent-pending proof-of-receipt model changes e-commerce delivery entirely, the effective data capture has been limited to package arrivals, which are typically infrequent events, so daily active use is capped.
Increasing our total user count has also been limited mostly to those who can navigate wallet security and gas fees. These are major inhibitors for inexperienced users. So we needed to remove those blockers altogether, in order to open a wider door for anyone.
Version 2.5 makes it super easy to create a wallet, and removes the pain point of acquiring gas, so users can download the app and begin earning immediately. Additionally, with the features detailed in the next section, we expect to stimulate weekly and even daily use, by providing continuous content and engagement points, that make earning fun and rewarding (literally!)
We believe these features move us towards achieving our key results in Q2-Q3 and beyond. Our hope is that more users across the globe will enter the world of cryptocurrency, and earn the value their data creates via the PackagePortal app. Finally we are confident that these features and a growing user base will best demonstrate the value of our post-purchase engagement platform, so that e-commerce merchants will come to see us as an oracle of ethically-acquired consumer data.
We’re excited to announce that we’ve shipped version 2.5 today! Once approved by app-stores (in a day or two), you will receive a notification for the update, which includes these 4 big features:
First, we made it easy to create a crypto wallet — which is notoriously difficult. This release enables users to login and tap a button to create a wallet with login credentials, via Web3Auth.
Next, we made it easier to claim tokens. Transferring to and from crypto wallets is often a difficult user experience. Many times, the interactions must be in a desktop browser with an extension. Moreover, you must ensure you have sufficient balances in your wallet to pay transaction “gas” fees, which are not easily attained. This update allows OneTap Wallet integration and the ability to claim rewards right in the mobile app, without a browser extension. We also updated our smart contract to use metatransactions to extract the gas fees needed for token claims and swaps. Now, users can have a seamless path to earnings.
Developments on the business side of things continue to advance as well. We’ve got a number of new relationships formed, with integration talks being scoped out. One particular partner is an e-commerce service provider with over 1000 major retailers as clients. Nailing the details and specs for that integration would instantly put us in front of over 120 million shoppers.
Also, our funding round officially opens with the start of Q2 and is set to close by the end of the quarter. We’ve already had some soft commitments leading into the round, so we are confident we can close and reach our goal, enabling us to return our full attention to developing an impactful business and product line.
You may also remember some details shared in the past around our work with US regulators. We have reached the final stretch in that process and expect to see an approval of sorts that would result in PackagePortal obtaining documentation that is the first of its kind for any crypto company in the nation. This should be made public sometime in Q2.
Oftentimes with many crypto projects, price is a leading indicator; meaning it’s based purely upon speculation as folks ponder “what this could be and do”. That speculation drives early adoption and grows networks which catalyze when real value is added, just as we’ve seen modeled in BTC, ETH, and dozens of other digital assets.
But in our case, the token price is more of a lagging indicator…out of date as it were. In the first scenario, price floors are based off of assumption. But in the latter case, price floors are based off of utility, supply and demand. Having V2.5 released drastically increases the value and reach of our platform. Markets will soon be forced to learn “what this is and does”, and we’ll be able to watch their discovery in candlestick form.
In order to enable discoverability, one of our objectives is interoperability. Moving into Q2 with v2.5 shipped, allows us to focus energies on that front. A new ERC contract is forthcoming, as are other crypto based integrations. Also, we remain in contact with a handful of exchanges and will look to begin listings in Q2.
Finally, PackagePortal’s roadmap calls for NFTs. We’ve already made some headway on that front, and are working with an ecosystem partner to bring utility and fun to them upon launch. We have their release slated for H2 of this year, and expect them to come fairly early in Q3 if things go according to plan. I hope to share more on that next month.
By J.G. Whitley, CEO
You may recall that we were recently nominated for an international UX Design Award. While that is a very prestigious honor, and we’re grateful to be in the discussion and represent the crypto space in that arena, what I’m even more excited about is how V2.5 evolves that user experience even further.
Mobile-first DApps aren’t very common as it is, simply because the technology overall is still in the infancy stages. But our team has successfully created one of the few mobile DApps in existence (with real world applicability). And now we’ve gone even further than others by removing the biggest pain points to new user adoption; wallet and gas management. As such, releasing V2.5 sets off fireworks in my mind’s eye.
Continuing to work with our design firm, Wondr, has allowed us to add more beautiful aesthetics to all the new backend functions listed above. One could liken this release to the metamorphosis a caterpillar undergoes during chrysalis, emerging as a majestic monarch butterfly, no longer grounded and able to roam the skies freely. By increasing usability and decreasing user friction, the platform can begin to spread its own wings and lift off into the atmosphere, floating above the noise and predators left behind on the forest floor.
With this release, we are closing out the first quarter of the year in grand fashion. We continue to push the industry ahead, shipping evolutionary products and services with immense value capture, accompanied by an incredibly frictionless and smooth user journey. I couldn’t be more pleased with our progress so far in 2022, and we still have 75% of the calendar year to fill out with more cool features and integrations. The PackagePortal team is keeping a heavy foot on the gas. Stay tuned!
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