We also prepared an extremely extensive go-to-market. Both an overall one as one specific for our pre-order campaign that will start in April. Here below is an excerpt of the planning.
As a side remark, some of our important actions include: We have just signed an advisory agreement with Michael Terpin, one of the top 100 impactful people in blockchain worldwide, known a.o. for losing 24MUSD in a personal hack, but also known as CEO of Transform Group PR, the largest PR firm in the industry, having launched many of the top profiles. Today, we are working with Transform to launch NGRAVE.
Our vast network in the crypto space allows us to liaise with a multitude of influencers; influencers are very important in the crypto space.
Our close contacts with several of the leading news outlets, that give us great deals on campaigns, resulting in higher conversions for less investment.
Our pre-order campaign starting mid-April, for which we are working together with the industry’s finest. We were also leveraging several events but these have been cancelled due to the Covid-19 virus’ impact.
Content marketing including high quality video, tutorials, product explanations, and more.
A. Technological roadmap: We have been able to greatly finetune our technological roadmap for the next 4-5 years. More details can be found in section 2. In 2020 we will focus on fully deploying the B2C solution. By the end of the year, we will start first pilots and business requirements elicitation for B2B.
B. Market assessment: As a result of the feasibility study, we have come to the conclusion that our solution is required now more than ever, and that the market is in great need of a solution that innovates not only vastly on security, but also on the actual user experience. It needs to become easier and more convenient to invest in digital assets and cryptocurrencies.
The product suite is the only comprehensive end-to-end solution that provides answers to current-state low quality backup solutions (mostly paper-based) by introducing the GRAPHENE, the industry’s first encrypted and recoverable backup.
The mobile application of NGRAVE can be replaced in a plug and play mode by any cryptocurrency exchange, software wallet, and even beyond crypto use cases for authentication purposes, or even general password management.
C. Business model Assessment: Given the above, and taking into account the overall expectations of industry growth by Reuters, BCG, McKinsey, Finoa Research, and Orbis Research, it is clear that the market for hardware wallets will greatly grow (expected multiple of 40X in the next five years).
D. Product cost/benefit analysis: We have researched the options of Middle-East and China partners versus more local partnerships and we realized the pricing differences weren’t that different (they mostly are when real scaling starts into the hundreds of thousands of units). Therefore, given the proximity of local partners in Belgium, we decided to go for these local partnerships as it will greatly enhance our ability to manage quality and overall risks in the supply chain.
With a BOM of 107EUR all-in for the NGRAVE ZERO, and around 45EUR for the NGRAVE GRAPHENE, we can achieve good profit margins, which can be improved later on by decreasing the overall impact or the BOM cost when we scale.
E. Business plan: Given the above, we believe we can reach 100MEUR in revenue by end of 2024, provided we can sufficiently invest in the business and cater for capacity constraints.
