I already watched the video and it's quite amazing presentation. So based on the video, there is a lot of project that is offering the same service like Modex. A project that is eliminating the middle man so that the customer will save their time, effort and money and will receive accuracy, transparency and efficiency in return. I am wondering why there are still many projects arise or created in the same purpose/idea even if they knew that they will have a lot of competitors? Because as far as I know in every business, as much as possible they will avoid the competition for them to acquire more investors and customers. I'm just wondering.
The short answer is that there is room for hundreds (if not thousands) of service providers who provide similar services, in all fields out there.
Yeah I understand that a lot of people needs this kind of platform that is why you said that there is a room for this, but how do you manage the competition in the market? Do you have any strategies that will make this platform become popular in the market?
A few examples from the whitepaper:
https://www.modex.tech/documentation/whitepaper.pdfPage 25A major component is allocated to a marketing pool for a grass roots cryptocurrency “giveaway” program, to help communities around the world bring cryptos into their daily lives. This activity will facilitate the adoption of smart contracts, blockchain applications, and crypto’s working together. Our fund allocation plan below will outline how we will handle funds raised in more detail.
Page263. Marketing
a. Traditional Marketing:
● Online and offline
● Advertising
● Inbound marketing
Page33Modex’s product philosophy and marketing philosophy mirror one another, as both closely track social trends. Our marketing approach is all about community engagement and empowerment, through an organized ecosystem of developer tools, consumer applications, and incentives. Given that there are a number of other great organizations who are working to address the very real liquidity challenges (e.g. Comit, Bancor, etc), that we can simply partner with, Modex can focus its efforts on the smart contract marketplace to bridge the gap between businesses, developers, and real-world users. The applications and smart contracts empowered by the Modex marketplace will increase blockchain adoption and our team has previous experience working in this space.
