NAU is a platform that combines social, mobile, and local platforms into one convenient solution. Find out how it works – and what you need to know about the token sale – today in our review.
What Is NAU?
NAU, found online at NAU.io, is a platform that aims to connect customers and retailers directly using blockchain technology.
Customers can use the platform to redeem special offers from retailers. Meanwhile, any user can be their associated affiliate partner. By inviting other users (like friends, family, and social media followers) to NAU, the user will receive 95% of what the advertiser pays in tokens for each offer redemption.
“This is absolutely disruptive for the current market paradigm,” explains the NAU whitepaper. In today’s system, middlemen share the advertising money, while users have almost zero motivation to recommend and share within their circles of communication. By creating direct customer-retailer connections with most of the money left within this interaction pair, NAU aims to create a new reality for both consumers and retailers.
In other words, NAU aims to combine social, mobile, and local rewards platforms together into a convenient solution where users earn genuine rewards.
NAU has been in development since July 2017. An official beta is scheduled for release after the main token sale round is completed.
How Does NAU Work?
With NAU, advertisers can create an offer (like a discount, a buy one get one offer, or a bonus item), then pay at least 1 NAU token each time someone redeems that offer.
95% of the reward goes to the user who has invited the redeeming customer to NAU. This approach encourages users to share the NAU application within their social circle. Each user is someone’s follower, creating a sort of multilevel marketing-style commission structure where everyone participants in rewards (although it lacks the multiple levels of referrals).
Users will access the system through Android and iOS mobile apps that allow users to locate and redeem offers based on their geolocation. Offers are divided into 5 basic categories, making it easy for users to find the offers that they’re most interested in.
Why does NAU use blockchain technology? NAU uses blockchain for transparency, security, and reliability. Anyone can check the number of tokens paid by the advertiser for each sale. Anyone can also verify that the affiliate received 95% of this amount. There is no hidden token emission.
NAU uses a private blockchain built on MultiChain technology. Transactions within the blockchain are visible to anyone through the proprietary public monitoring service. Anyone can also start his own monitoring service by setting up a node.
Why didn’t NAU choose a public blockchain? They wanted to avoid paying mining rewards and transaction fees “as these rewards do not match the microtransaction model within NAU.”
NAU will generate revenue by charging 5% of each transaction of tokens from advertisers to users, then 0.5% of each transaction between wallets.
Meanwhile, advertisers and agents (who are working on behalf of advertisers) can use tokens to purchase push-in contracts to the segmented audience. These parties can also spend tokens to receive the “Featured” badge or to access other marketing tools within the platform.
Finally, NAU will have APIs that allow third parties to access the platform. Those third parties are expected to include advertising network representatives, publishers, and exchange platforms.
Who’s Behind NAU?
NAU is led by founder and CEO Yaroslav Shakula, who has 15+ years of experience as a project lead, co-founder, and CEO of multiple projects in internet marketing and advertising (notable projects include Creara and Sape).
Other key members of the team include Egor Bruskin (Co-Founder), who founded LeadBit Group, and Max Gavriuk (CTO), who has 15 years of software development and management experience.
NAU has local headquarters in Germany, the Philippines, Colombia, Russia, and Ukraine. Each of the local offices is responsible for signing agreements with agents and advertisers along with the local influencers that will execute the initial platform app promotion. The local offices opened in September and October.
The NAU Token Sale
The NAU pre-sale began on October 1, 2017. Tokens are priced at $0.04 per token during this round with a 300% bonus. Only qualified investors spending over $50,000 were permitted to participate in this round.
The public round of the token sale began on November 1 with a 120 hour token sale, with the next round scheduled for November 10 to December 11 (the main token sale round). Tokens range from $0.04 per token to $0.08 per token during the crowdsale.
There will be a maximum of 1 billion tokens available for sale. The tokens are ERC20 tokens that will be released at the end of the main round of the token sale. 20 million additional tokens will be distributed between project advisors (12 month lockup period), 10 million tokens are reserved for the advertisers’ promotion fund (10 tokens will be credited to each new advertiser), and 10 million tokens to the users’ promotion fund (1 token will be credited to each new user). An additional 5 million tokens are reserved for the bounty program.
At the conclusion of the token sale, 24% of the overall number of tokens sold will be released and locked on a separate smart contract. These tokens will be available by 1% each month starting from the 7th month after the completion of the token sale.
The ERC20 tokens released during the token sale cannot be used in the NAU platform (remember, it’s based on its own private blockchain to avoid mining fees and transaction fees). However, the ERC20 tokens can be exchanged 1:1 with the native NAU tokens from the moment the official beta is released.
The company has a soft cap of $5 million and a hard cap of $48.5 million for this token sale.
NAU is a platform that connects retailers with customers through special offers, with most of the rewards going to customers instead of middlemen. The platform allocates 95% of the offer’s cost to the person who referred the user to the platform. This is designed to foster participation over time.
To learn more about NAU and how it works, visit online today at NAU.io. The token sale for NAU is taking place from November 10 to December 11.