On December 24, 2021, CEO Mark from NSUR Coin took part in an AMA session with @Cryptotech_Community on telegram. This is part 2 of a three part series providing a deeper look into NSUR’s Merchant Network, partnerships the company is involved in and team members.
Revenue is a critical component for every project and company. How do you generate revenue and what is the income model of your company?
Yes, revenue is a very important aspect for all projects! We completely agree.
We have a robust revenue model in different aspects of the coin, but at the core it comes down to community building and working with our community members and partnerships to generate profit for the organization.
Every time you interact with a partner of ours in our NSUR Merchant Network, we have an opportunity to generate revenue which is used to fund operations
Talk to a doctor, get a prescription shipped to your house.
Shop at our merchants and buy your home and auto insurance with our partners
All will generate revenue for the token.
With this revenue, we will fund operations and perform open-market buy & burn of supply.
We will also be participating in the success of other projects when we launch the Protected Launchpad
This all makes us special, but we have big opportunities with the partnerships we have already formed.
Could you tell us a little bit more about the NSUR Merchant Network?
The NSUR Merchant Network is the name we have given to our vetted retail partners. We have launched our platform with ~10 retailers inside of this network, and we are in the process of expanding. You can find the application here: https://www.nsurcoin.com/BecomeMerchant.
As a customer, you are able to buy goods and services through the NSUR Merchant Network. All you need to do is visit our website to see all of the retailers accepting NSUR Coin, and then you will be redirected to their website to shop. You can then use your NSUR Coin to pay at checkout.
What are the product categories you’re concentrating on?
Initially, we are focusing on the health and wellness category. We have plans to rapidly expand into other categories as we grow the network.
How do you intend to recruit more merchants into the Merchant Network?
Our plan for onboarding more merchants is to start with our community of ~200k users and to source new merchants from our current pool of customers, while simultaneously reaching out to retailers through a marketing campaign that is tailored to explaining why they should join us. This includes everything from emails to calls to face-to-face meetings, which we have already had dozens of in the past few weeks.
Visit www.nsurcoin.com/shop to see what you can buy with NSUR.
Please explain how to purchase from the NSUR Merchant Network.
For the first phase of this development, a list of merchants are available on https://www.nsurcoin.com/shop. As you visit their websites and in checkout, you will be presented with an option to pay with NSUR. It’s pretty simple. Scan a QR code or copy an address and the backend system handles the rest, just like any other shopping experience.
In the future, we will be expanding this marketplace to include additional functionality, including product / category listing search, language localization and eventually embedded merchant services.
We want to allow companies from all over the world to have access to our customers and give our customers a benefit as well.
What is your goal for the crypto marketplace?
Our goal is to onboard as many merchants as possible (who sell quality goods and services), starting with merchants in the health and wellness industry and expanding into other product categories from there.
Our marketplace is pivotal to showing users that crypto can be used in the real world. Therefore we have worked with our partners to make checkout on websites as easy as possible for NSUR users. We believe in the coin driving real world value and this is extremely important to provide users access to products and services everyone at some point in their lives needs. As more people adopt crypto as a form of payment, this marketplace will grow significantly.
Many projects appear to be successful based solely on their Whitepaper and Roadmap, but face numerous challenges when attempting to carry out the project’s mission and ultimately fail. How do you plan to get your project over every stumbling block?
We are a tech company at heart, we have an experienced block chain development team and experienced web devs. On top of this, we have a great network of partners and advisors that are helping us guide development to overcome any obstacles in our path. Our goal is to underpromise and over-deliver on all aspects of our project and partner with specific subject matter experts when the needs arise.
One example I have is, while we are strong in the insurance side, we do not know everything. With this in light, we have partnered with experts in the field with greater than 50 years of experience, and through this process have been able to work with the very first company to be approved to write policies for loss of value in crypto.
We have a deep bench of experts we can draw on and they are very eager to help and be a part of the team!
Do you believe the team’s qualifications and experience will be sufficient to support the project’s long-term development?
There is a strong team behind NSUR.
Leading the team is me, Mark Peters. I am the CEO. Mark specializes in finance and has an MBA in investment finance from SCU Leavey School of Business. He has spent his career working for insurance and fintech companies. Mark designed and developed NSUR’s Value Protection Program along with NSUR’s insurance and crypto legal advisors. Over the last 15 years, Mark has raised over $250M in debt and equity investments for his companies. Mark has brought his company investors many positive outcomes, including taking Vocera Communications public in 2012, and has over $1.3B in acquisition exits over the last 4 years, yielding an average multiple return of 5x. Mark is also well versed in public company finance and building strategic partnerships.
Our COO is my sister, Rosemary Peters. Rosemary specializes in strategy and project management. She has an BSc in Engineering and an MBA from London Business School. She has spent her career working leading and operationalizing strategy projects for technology and consumer companies, including Samsung. While working in Samsung, she largely focused on building out and implementing their online sales strategy across the globe, including their approach to marketplaces. She is overseeing and operationalizing activities related to launching NSUR. Rosemary enjoys playing with her dogs, spending time outdoors and listening to mystery podcasts.
Jorge Arteaga is our CTO. Jorge is an engineer with eight years experience in systems engineering and development. He has a long background in cryptocurrency, website development, marketing systems and project management, he is leading the team developing NSUR’s website and utility platforms. He also worked closely with our expert engineer who crafted NSUR Coin’s Smart Contract.
We are in the process of hiring our CMO and CFO – they will be announced soon!
In addition to smart and dedicated team members, we also have a strong team of advisors.
Can you tell us more about your advisors?
We have a strong network of advisors that we have onboarded based on the relevance to our project. For example, we have insurance, fintech, crypto and marketing advisors. Going through each of them one-by-one would be a bit overwhelming, so let me share the bio with you of our leading crypto advisor, Erik Bethel.
Erik is currently a Distinguished Fellow at Chamber of Digital Commerce. Erik is a financial professional with more than 25 years of private equity and investment banking experience in Latin America and Asia. In 2018, he started a two-year term representing the US to the World Bank. At the World Bank, Bethel promoted a number of initiatives including spearheading the use of new technologies such as AI and blockchain and streamlining World Bank operations. He is currently a Distinguished Fellow at Chamber of Digital Commerce. Erik is a recognized expert on Chinese investment and financial activities in the Latin American region, including having a deep knowledge of cryptocurrency and blockchain. He began his career in New York covering Brazil, Colombia, and Mexico. Subsequently, he moved to Mexico City as an investment banker and later to Shanghai, China as a private equity professional. Erik graduated from the United States Naval Academy, where he was an Olmsted Scholar, a Cox Fund Scholar, and a Battalion Commander. He later earned his MBA from Wharton, where he was a Milken Scholar.
You have finished part 2 of this series. Click here to go to part 1, which focuses on “The World’s first Protected Cryptocurrency”. You can also skip to part 3, which focuses on “The Future of the NSUR”.