The slightly unfortunately-named Nuggets bills itself as a consumer-centric blockchain platform that uses cryptocurrency-based technologies to provide tools for users to login to websites, verify their identity, and to make payments online, all without exposing their private data to third parties.
What is Nuggets?
While the Nuggets ICO is being handled by ICO capital raising company Argon Group, Nuggets itself is an independent company co-founded in August 2016 by Alistair Johnson and Seema Khinda Johnson. Both Johnsons – it’s unclear if there is any family relationship between the two – both have decades of experience in tech development for large-scale companies such as Microsoft, Disney, and the BBC.
The core product – the one that the NUG ICO will be crowdfunding – is a highly-secure e-commerce platform that allows customers and merchants to interact with each other and make purchases of goods and services. While this is not unique, the ability for each Nuggets user to control just how much personal information they’re willing to divulge – up to and including no information at all – is indeed on the revolutionary side.
The platform, which is scheduled to launch in the 1st quarter of 2018, will use the NUG token consumptive. Users will be able to gain the token when signing up, referring others to the site, login, pay for goods or services, or verify your identity on the Nuggets site. In this way, the Nuggets developers see the NUG token more of a utility coin than an investment or speculation opportunity.
Consumer use of the Nuggets platform, which will be available on iOS and Android devices, is to be free. Merchants will be subject to small fees for using the platform.
About The Nuggets ICO
The Nuggets ICO for its NUG token is currently underway. NUG tokens can be purchased via Bitcoin, Ethereum, or fiat currency through TokenHub.
NUG tokens are set at a price of USD $0.016 per token during the public ICO. The launch will last for 30 days from November 14, 2017 or until the maximum number of available tokens has been sold.
The minimum purchase price of NUG tokens is set at 0.01 Ethereum or its equivalent – around $3 USD at the conversion rates at time of writing. This means that a minimum purchase would net approximately 187 NUG tokens at that conversion rate.
If you’re highly passionate about personal privacy and enjoy the blockchain’s ability to provide transparent transactions but safeguard personal details through its encryption processes, Nuggets is something you’ll want to look into. This goes double if you want to use the platform for e-commerce.
We feel that Nuggets is likely going to be moderately successful as a privacy-centric online platform, especially with widespread adoption. As an investment opportunity, however, it’s likely not going to be one of the biggest new coins to provide an ROI – not only is there any information about adding the NUG token to an exchange, discussion of such a move is actively forbidden by Nuggets!
Combine this reticence to discuss adding NUG to an exchange with the fact that it is designed to be a consumptive utility token and it seems obvious that Nuggets is not trying to position its token as a money-making opportunity outside the Nuggets ecosystem.