Effective immediately, the Fabric Token platform will expand to provide user-friendly interfaces for other viable blockchain use cases. We will still keep working on TokenGen, Fabric Store, and Fabric Flow, but we will also start looking for solutions desperately needed by the industry.
UI for blockchain
Our first endeavor in that regard will be to create products from two very key components of TokenGen – KYC and contract management. We are still discussing which one to focus on first, but it will most probably be the KYC feature since it needs much less modification to be split into its own product.
Of course the KYC feature will still be available on TokenGen, but through this split, people who are looking only for a KYC solution, not specifically for their ICO, will be able to manage their campaign through our product.
Same goes for the TokenGen contract management feature, though it will need to be modified a lot more since it currently works only with TokenGen smart contracts. The names for these products are still to be picked up, but we will update the community accordingly as soon as we have a concrete plan of action.
The Fabric Token will continue to be the integral payment method for all products we add to the ecosystem, but we are looking into ways to balance the ineffectiveness of forcing people to use a new digital asset for purchases as opposed to well-established fiat payments.
One way we could do it is to add other payment methods, but apply a substantial discount on purchases through FT. While the freemium pricing model we introduced to TokenGen with the last major update helped a lot and has improved the conversion rate of payments through FT, it might not be enough to create the necessary revenue that will be needed to grow the company at the rate we want.
Another thing we are discussing is some sort of a re-structure/expansation of the usage of the Fabric Token throughout the ecosystem in a way that will make the digital asset more lucrative.
Of course, the best thing would be to get a listing on a quality exchange, however, that is currently a difficult task since quality exchanges charge obscene fees and we just don’t have the budget for it at the moment. However, we are still doing our best to get something done, meanwhile focusing on development as a means to create an ever-growing demand for FT.
If you are following our project closely, you might remember that we mentioned we were working on a side project as a means to start generating revenue for the company. In fact, we have been working on this project since December last year and it is finally at a stage where we can reveal it to our community.
The project is very simple – it is a blockchain news website called ChainBulletin. We have already trademarked the name and have written close to 300 articles.
While the website is not yet generating revenue, it is steadily gaining traffic. Articles we have written have already been shared by notable crypto news websites and influencers. We are quickly establishing the brand as the new standard for blockchain-related news coverage, standing out from a sea of low quality content present on most media outlets focused on decentralization.
Writing is something that we are relatively good at and we all enjoy following the progress of the blockchain industry anyway. That is why we decided that launching a crypto media outlet is the best and fastest way to create a stable source of revenue for the company, which will subsequently be used to fund other ventures we get involved in.