Dear NV Community,
Together, we are facing a truly unprecedented situation. The global coronavirus pandemic is affecting all of our families, our businesses, our communities, and our way of life. During this time, I wanted to reach out and update you on how we’re approaching the situation at Nucleus Vision.
First and foremost, our hearts go out to anyone who’s been impacted by the virus, either directly or indirectly. Our thoughts are especially with those who are sick, to whom we extend our heartfelt wishes for a full recovery. And we’re truly inspired by the selfless healthcare workers around the world who are on the front lines working tirelessly to care for people in need.
Second, at Nucleus Vision as like other companies, we’re focused on the health and safety of our employees, families and communities and hence have been sending out positive messages which we are doing with our limited workforce.
All of our employees have been strongly encouraged to work from home. This shift has been relatively smooth and we continue to deliver the highest levels of performance, availability, and security. During this time, we will continue to pay our vendor service providers, who are an important part of our family. We’re also asking our teams to work with customers through digital channels as much as possible.
Our last update to the community was through our newsletter on 1st Feb 2020. We have had a meaningful effort on building the product, managing ops, and doing business development to get more paying customers. The performance of the technology has proven incredible and 3x better than any industry benchmarks. Our outdoor Click Through Rates (CTR) are 7 % (Google is 0.7%), Indoor conversion rate (CVR) is 9% (Google is 0.6%) and finally our cost per mille (CPM) is $8 (Google is $2). This is certainly a great start and we expect that our value proposition will grow more and more meaningful for our customers.
We’re postponing some of our in-person events while turning others into virtual events. This no doubt is proving to be a learning for us as like other companies. As our business is based on the deployment of our sensors powered by Bellboi Technologies we are continuing to provide real time data and analysis at the various outlets where we have our sensors.
As stated before following a series of successful pilot projects with renowned retail brands, the company is now entering into a commercial contract with a couple of partners. Along with brick and mortar stores, Nucleus Vision is entering and having serious discussions with shopping malls and gas stations. The company has identified 157 shopping malls across India.
These shopping malls accommodate 32,000 stores of 227 brands. We have already placed sensors in a couple of malls in Maharashtra and Gujarat earlier this year and were well on course to complete other cities and states when the pandemic virus hit us in India and now we are waiting patiently for trade and commerce to start again before we can truly show the power of the sensors powered by Bellboi to not only the retailers but the public too.
We have successfully incorporated our sensors with a leading oil and gas company and have been present in over 6 cities across India. Further deployment again has been delayed due to the pandemic. We have been praised for our IoT-based O2O Attribution (Patent no. 10334426) and Single Sign-on (Patent No: 10397787), which will play a major role in creating a seamless retail customer experience from all brands and investors and we continue to gather more patents going forward.
Thirdly, the prominent investors that are looking to get a piece of India’s nascent crypto space include Tim Draper, a venture captial investor who obtained thousands of Bitcoin from 2014’s Silk Road auction and was one of the early investors in our company.
I met Tim Draper early this year before the pandemic, in Bangalore and he said that he has “met several Bitcoin and crypto startups” from India and that he “hopes to be able to fund a number of them.” He also recently showed his excitement for the move by the Supreme Court of India in striking down the Reserve Bank of India’s ban on financial institutions providing crypto related services, tweeting, “A Renaissance for India. Now crypto is legal.”
It is evident that the recent interest from investors and companies toward India’s crypto market is as a result of the March 4 ruling by India’s Supreme Court. The ban that had previously been placed by the Reserve Bank of India on all crypto-related bank services was declared unconstitutional, much to the reprieve of the country’s crypto community. However, in addition to the court ruling, industry watchers and experts believe there is more to India than a seemingly positive regulatory environment.
Various advisors on emerging technologies believe that what makes India a good market for a crypto renaissance is the fact that the country is home to nearly 190 million unbanked individuals. This is definitely a comforting angle in the midst of all the negativity.
This has also helped us now operationalize our solution for customer NCASH CRM and loyalty program for creating a universal retail currency. We continue to work with legal and regulators to clarify the details on the feasibility to launch it soon. The Supreme Court in India has not given a clear indication on the road forward but we are extremely positive about the future. I will emphasize that we are here to change the future of brick-n-mortar retail and merge it with online through our intelligent communication protocol. This is a paradigm shift in 11,000 years of retailing. We are here to stay and make this happen. This we have been doing for 6 years and I will assure you that there is no other company in the space that can claim the amount of traction we have so far. We believe it is a challenge worth pursuing and dedicating our future to. I want to acknowledge that we have not shifted our focus, but made progress, and continue to deliver astounding results in the field of changing advertising and retail. There are several major updates that are underway and in progress and we will share these with the community as they materialize.
Lastly, I do believe this moment reminds us that we’re all connected like never before. We’re called upon to be our best selves, with patience, understanding and compassion. On behalf of all of us at Nucleus Vision, we’re committed to being your partner and persevering together in all the days and years ahead.
As we go forward, we’ll be sure to keep you updated, maybe not as regularly as before but will be available nevertheless and know that we always value your questions, ideas and feedback.
Together we will get through this pandemic and again strive to great heights as we have done before. I thank the community personally for still believing in NV and NCash and hope that we all win the battle against Corona.
Stay at home, Stay Safe.
This is not an investment advice. Please do your own research before investing in any avenue. The information contained in this post is for informational purposes only. The information provided in this post is provided “as is” without any representations or warranties, express or implied. Nucleus vision and its affiliates makes no representation or warranties in relation to the information on this post. You should take independent advice from a professional or independently research and verify, any information that you find in this post and wish to rely on, for the purpose of making any decision. Through this post, you may be able to link to other websites which are not under the control of Nucleus Vision. All news and updates provided by Nucleus Vision is an accumulation of Nucleus vision and its affiliate. We have no control over nature, content, and activity on those sites. The inclusion of any links does not imply a recommendation or endorsement of the other website, its products or views.
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