Product futures are potentially paradigm-changing for consumers and indeed businesses alike. While technologies that could support their basic functions are nowadays no longer at the bleeding edge, we are cognizant of the budget requirements for launching product futures as a new consumption model—the cost of promotion, making it known so to speak, amounts far above what a startup could manage.
In this context, we have decided to launch a traditional marketplace first. This sequence enjoys two advantages: First and most apparently, we can bring onboard users, in particular consumers, who will find the introduction of product futures, when they are introduced, a welcoming addition to their traditional purchases. We also stay true to the spirit of “flexibility in consumption” that we so aspire to champion. In other words, we are fully aware of the fact that product futures as a way of consumption cannot be applied to all categories of goods and services. The possibility to inform our users of the advantages of this pending addition also serves to prime the market.
Secondly and out of necessity, this traditional marketplace would provide a testing ground for our concept. Different as they may be, the full IdeaFeX marketplace is designed to serve roughly the same customers. By informing them of our launch sequence while offering them the same services existing alternatives do at significantly lower cost, these customers have the opportunity to vote with their own money: If they are interested in the new consumption model and find premium branding in e-commerce a paradoxical concept, buyers and sellers are welcome to adopt IdeaFeX.
The general timeline will therefore look like this:
- Q4 2019: Launch of traditional marketplace completely commission-free
- Milestone 2: Introduce success-fee-based premium-listing
- Milestone 3: Public testing of non-tokenized and tokenized product futures
- Milestone 4: Launch of product futures
We will closely monitor the performance of our marketplace and adjust our launch strategy accordingly.