As previously announced, NXTprivacy will be issuing a cryptocard asset, but it turns out that it sold out before I could even issue it!
The BTCD community came up with 25000 BTCD and NXTprivacy is making matching amount for the entire inventory, but I announce it here so people will know what the asset is. I am not sure if anybody will sell it on NXT AE, but as I have learned this always seems to happen.
Current price ratio is ~27:1 so 25000 BTCD is matched by 675000 NXT, which makes its sale price = 1.35 NXT per asset
The following is the asset description, very short and generic:
Issuer ID: NXT-KKNV-8EPK-W2S4-96VTK Asset number 7110939398145553585
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NXTprivacy is proud to issue the cryptocard asset which will distribute 1% of processed transaction volumes to the assetholders. This card does not require any personal information. All of the processing and handling is outsourced to coinomat.com. Please check NXTprivacy.org for the latest details on fees and limits. Standard ATM fees will apply for cash withdrawals.
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The initial text for the NXTprivacy.org site is:
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We're launching debit card program for easy withdrawal of NXT and BitcoinDark funds through ATM's worldwide and online payments.
Key facts:
- The card is issued by a European bank with a good card programs track record
- This a no-name card; we would need your address for card shipment though
- Card issuance and delivery cost $40 and naturally can be paid in NXT or BTCD
- The monthly transaction volume with one card is limited by $10,000. Multiple cards can be ordered
- Online payments using the card are free, withdrawal fee through ATM is charged by the issuing bank and is 3%
- NXT and BTCD conversion is made according to the current respective exchange rates.
- Processing is carried out by coinomat.com exchange service.
The card will be launched in September 2014.
Our goal in making this card program is to provide an easy bridge for crypto to fiat conversion. In future withdrawal of other cryptos, including Bitcoin, will be possible.
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Once it is distributed, then it could start trading on NXT AE, actually nobody can stop this, so it should have some immediate liquidity
James
P.S. For those worried about the need for postal address, we will also be arranging having the cards available at tradeshows on a cash basis, so you can meetup with the NXT booth and pay cash and grab a random card from the box of pre-issued cards. Then register the number at public internet shop.
How is that asset work? I don't understand: "NXTprivacy is proud to issue the cryptocard asset which will distribute 1% of processed transaction volumes to the assetholders".
There is only two assetholders now:
https://nxtblocks.info/#section/assets_exchange/stakeholders/7110939398145553585
Both assetholders seems to be own by you.
Is what I say true?
At the moment the asset was issued 100% was in NXTprivacy, but this is just due to not having completed the distributions based on people's deposits.
NXTprivacy issued the asset, I am waiting to distribute 50% to the BTCD peoples, but they all need to make NXT accts. 10% is in JLH as is typical, so NXTprivacy will end up with ~30%. I expect 10% to go to another party.
So, if by "you", you mean JLH asset holders and NXTprivacy holders, then 10% + 30% will be in those assets.
This adds value to the NXTprivacy asset as it will get 0.3% of cryptocard transaction volume. It also helps coinomat boost its processing volumes. JLH gets another asset. While I could have done this personally, I have committed to do my best to increase the value of my assets in their respective areas and I use my best judgement when structuring each deal to properly place them in the right asset. When the NXTprivacy assets are finished selling, then the remainder will go to NXTventure assetholders as a dividend.
I hope this makes sense. Also note that I am not asking for anybody to invest in cryptocard, it was just a notice about what the asset was.
James