metadata: {"type": "project", "title": "MapX", "logoImg": "bafkreielg7hanh6kv3ttvvis3rkbk76iogbyclwhmowysgfdcyerxy5lum", "website": "https://walk-up-site.vercel.app/", "bannerImg": "bafkreiacz73rh64yz6i535x5vwct622dbzbrzvkt4naefaawnvuiffesr4", "createdAt": 1713608104485, "userGithub": "gitjeet0401", "credentials": {}, "description": "Businesses often find it difficult to market themselves to drive foot traffic. According to the US Bureau of labor statistics, traditional businesses find it hard to market themselves to consumers\n\nAbout 20% of small businesses fail by the end of their First Year.\n\nBy the end of their fifth year, 50% go under;\n\nAnd by the tenth year, that number rises 70 to 80%. Traditional marketing methods have limitations such as high costs and being time-consuming. These problems can be solved\n\nThe outbreak of the COVID-19 pandemic has devastated businesses worldwide. These businesses include restaurants, theme parks as well as shopping malls. Prolonged lockdown and safe-distancing measures drastically decreased the foot traffic and revenue of these businesses, forcing them to shut down or pivot.Individual Struggles to maintain active lifestyle impacting both physical and overall well-being\n\nIndividual struggles to maintain an active lifestyle ,impacting both and physical and overall well-being Consequently, this struggle not only hampers their physical fitness but also contributes to a sense of imbalance in their overall state of wellness, prompting a need for effective strategies to achieve a more harmonious and active lifestyle\n\nA next-gen geo-tagged playground where players meet opportunities offered with a timeless technology. Map-based gameplay with capabilities to engage players and provide market visibility to communities and businesses.\n\nThe next generation of web building blocks are here\u2014 foster relationships between you and your customer .Tokenizes business offerings into a format that is hard to resist for the target group.Pokemon Go has proven that it can flock people into places to \"Catch them all\". MapX is aiming to offer businesses the exact same effect. Build communities by gathering people together.\n\nTarget audience\n\nCrypto Projects, Firms and Communities.\n\nOur main audience is crypto projects, firms and communities. They can choose to mint NFTs that Crypto projects are tied to physical locations, allowing players to collect them at the location. These NFTs can have future economic or sentimental utilities. This serves firms and as a marketing tool to help engage their respective communities, at the same time providing a communities element of gamification to their project.\n\nOur audience can also choose to mint NFTs for special events at certain locations. An example will be the Kaiju Kings community meetup in Singapore. Holders of the Kaiju Kings NFT were invited to a party with free food and drinks. Thus, these event NFTs can provide additional incentives for crypto communities to gather at a location. We foresee the increase of crypto adoption in the future, thus the emergence of communities big or small. Retail businesses\n\nOur secondary audience is retail businesses. They can utilize the MapX platform as a Retail marketing tool to drive foot traffic. They do this by issuing NFT vouchers. This can be done by Businesses setting up a redemption point in or near their stores. All they have to do is to shake their phone with the Encrypt app on tablets or smartphones and a token will be marked as used. This reduces the operating costs associated with needing to have a spare tablet or smartphone.Consumers can then spend the NFT effectively \u201cburning\u201d it. On top of NFT vouchers, businesses can also issue NFT collectables as well as art pieces. Compared to traditional marketing tools, Encrypt provides several advantages to businesses.\n\nGuarantee foot traffic/high conversion rate.\n\nSince consumers have already made the effort to redeem the NFT vouchers physically, they are Guaranteed foot highly likely to spend those vouchers on the spot. A scenario is that hungry players would traffic/high scan the MapX app for possible food deals, and redeem the NFT voucher that would bring the highest utility/suit the player\u2019s taste preferences.conversion rate. They would then use those vouchers on the spot to purchase from businesses.\n\nThis guarantees foot traffic to the store Minimally, players would be exposed to the underlying brand and its products. Optimally, players will be converted to customers through sales. Having physically been to the store also reduces consumer resistance. This can be in the form of difficulty navigating to the store or a mismatch between product expectation and reality. Low Cost and Effective Marketing.\n\nMapX promotes businesses for free through the browse function. This is where users can search the map for possible NFTs to redeem. In MapX pricing model, businesses are charged for minting new NFTs. Since voucher redemption is highly correlated to conversion, businesses essentially are only charged for successful conversions. This was associated with traditional marketing.\n\nTime-efficient\n\nProviding an existing pool of users who are ready to venture out and collect NFTs. Thus providing businesses with potential consumers to be converted\n\nLow cost and effective marketing. \n\nTraditional marketing tools such as newspapers, TV and online advertising often are costly. Costs up to\n\nthousands of dollars. Their effectiveness is also inconsistent and is determined by several factors. Factors such as Ad quality, product type and Ad timing. The complexity of advertising often requires seasoned marketing\n\nmanagers who understand consumers deeply. They are able to create Ads that ultimately resonate with the underlying targeted consumers. Small businesses often do not have the expertise to achieve effective marketing,resulting in resources wasted without achieving promotional goals.\n\nAlternatively, they can hire Ad agencies or marketing consultants at a higher cost. MapX promotes businesses for free through the browse function. This is where users can search the map for possible NFTs to redeem. In MapX\u2019s\n\npricing model, businesses are charged for minting new NFTs. Since voucher redemption is highly correlated to conversion, businesses essentially are only charged for successful conversions. This reduces the cost wastage\n\nassociated with traditional marketing.\n\n \n\nTraditional social media marketing through content creation is\n\nhighly time-consuming yet does not guarantee effectiveness. It is difficult to garner followings on Instagram, Facebook and Youtube. It often requires months or years of effort, carefully curating content to attract followings. MapX solves that problem by providing an existing pool of users who are ready to venture out and collect NFTs. Thus providing businesses with potential consumers to be converted.\n\n\n\n\n\nArtists\n\nArtists can use MapX to tokenize both physical as value well as digital artworks. They can then give these artworks away or auction them off through the platform . MapX offers an intuitive user interface\n\nPlayers\n\n\nPlayers are users who collect NFTs using the MapX app. They would first download the MapX app in the app store and then create an account. Afterwards, a crypto\n\nwallet is automatically generated. Players can then venture outside their doors in search of NFTs. They would open the map interface where NFTs are displayed as\n\nicons. They can then select the NFTs they wanted and travel to the NFT location for redemption. Upon reaching the redemption point, they can shake the phone to\n\nredeem the NFT. MapX provides several advantages to players compared to traditional promotion platforms.\n\n1) Transferable vouchers: Traditional E-vouchers are often restricted to the person intended. Oftentimes, these vouchers are left unspent due to neglect, resulting in\n\nwastage. The tokenization of vouchers using NFTs allows players to transfer, buy and sell these vouchers. Sometimes players might not want to spend the redeemed\n\nvouchers, they can then sell them for monetary profits in the marketplace\n\n2) Non-perishability: Traditional physical vouchers are susceptible to damage,\n\nmaking them a hassle to store. Once damaged, these vouchers are often voided as\n\nwell. NFT vouchers are stored digitally in the player\u2019s wallet, making them\n\nnon-perishable unless the player chooses to delete the app from their smartphones.\n\n3) Transparent: NFTs minted can be traced and observed by everyone. This gives a\n\nlevel of transparency that is not available otherwise.\n\n\nBusiness value\n\nAn average restaurant consumer spends $28.43 per visit in the US. The average\n\nprofit margin for restaurants is 3-5%, resulting in an average profit of $0.85 to $1.42\n\nper consumer per visit (Reimer, 2021). Consumers also have a chance to be converted to loyal customers who have an average lifetime value of $14,099 in a study done by Starbucks .\n\nAn average retail store consumer spends $40 per visit in the US. The average profit margin for restaurants is 0.5-7.5%, resulting in an average profit of $0.2 to $2.8 per\n\nconsumer per visit . Consumers also have a chance to be converted to loyal customers who have an average lifetime value of $22,200 . These benefits are massive compared to the cost of minting NFTs which is just one MapX token per\n\nNFT.\n\nWhitePaper:-https://drive.google.com/file/d/15jyT2yhWLm5WPAW7BLD5euPTLBiJzyd1/view\n\nCryptoRunner APK:https://drive.google.com/file/d/10IB1WL2KcvLi1MQmlxjPwgGcDtmhRzph/view?usp=sharing", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "WalkUPLabs", "projectTwitter": "mapx25"}
name: MapX