SUMMARY

We develop, operate, and maintain crypto products and services including applications and platforms.

PROBLEM

Crypto space is highly fragmented and have low UI/UX satisfaction score. It is very difficult for a newbie users to ramp into crypto and participate in the ecosystem such as buying/selling NFTs.

SOLUTION

Our product suites solve this by providing a seamless experience to everyone in crypto including users, developers, and financiers.

It enables users to be able to participate in the crypto space within a few seconds. For developers, they are able to be in crypto space and deploy products within a few days with the help of our API & database.

PRODUCT

We have twelve(12) products that are operational. These includes:

Products: Web3 wallet with a user friendly UI/UX

Web3 wallet's purpose is to see crypto coins balance, transactions, send and receive cryptos, sign and review message signatures, and also sign smart contract transactions that have been decrypted.

TRACTION

We have more than 100,000 users aggregated across twelve products and our aggregate revenue from 2019 to 2021 is more than RM 4,000,000 with an accumulated profit from 2019 to 2021 amounting to RM 1,972,432. There are two actions that contributed to this increase. First, it is, we did not monetise some transactions in the blockchain i.e. did not take any cut from the transaction or protocol fees, this makes transactions in the blockchain becomes cheaper hence we were basically subsidising fees to encourage growth. Secondly, we took advantage of the DeFi and NFT 'summer' by spending more on marketing

We manage to ride on the crypto space rise due to Covid restrictions. We expect that Tiktok will be the new defining media that will assist us in growing our user base at a later stage.

CUSTOMERS

For most of B2C products, our target market is the Gen Z and millennials and geographically to be located in South East Asia.

We are targeting this group because they are “meme” based and able to take action when organised in the right way. See wallstreetbets subreddit as an example of the meme generation forcing large funds to go bankrupt.

Our customer acquisition plan is to enlarge our outreach programme but focusing on Tiktok. We intend to become a meme and viral media factory and sway the meme generation to become our users.

BUSINESS MODEL

Our business models can be separated by each of the products. The list includes:

• Transaction fees

• Subscription fees

For all the products the way our revenue is generated is:

• Nama – USD10, USD100, USD1000, USD1,000,000 charged per initial sale depending on the length of the characters of the domain. Then users are charged USD10 per year to maintain the domain. If the domain lapsed, the ownership will be auctioned off where the minimum price set is USD10.

• Pasar NFT – 2.50 % of all transaction’s value when a sale is completed. Creating a NFT token will cost around USD1 as of this date.

• Bayar – 1.00 % of all transaction’s value with a minimum charge of USD0.01 per transaction.

• Jebat – A subscription of USD 1 per month and advanced process package may cost more than USD 1,000 per month depending on user’s requirements.

• Free Data Network – Company takes 5% on every successful transaction on the network.

• Hub – Company charges per API call made to the platform, where the minimum package is 50,000 calls and costing USD 10 per month.

• Simping – Minting i.e. uploading the asset to blockchain is free. 5% fee is deducted from the transaction’s value for every transaction.

Business goals:
We intend to get more than 1 million users by end of 2023 to be on our platform where the Lifetime Value(LTV) of each user is about RM 300. This should translate to a revenue of RM100 million by 2023.

Expansion plan:

Since our business is digital and hence we are not restricted geographically. We will not introduce new products although we will increase the variation of our existing products to increase revenue per user per product.

Financial planning:

The product is profit-making, and the cashflow from the product will be utilised towards increasing outreach through marketing efforts.

Marketing strategy:

The marketing strategy will be mostly on creating content for the Tiktok platform and supplement it with real life events that includes collaborations with microinfluencers. We expect to spend more than RM 500,000 on the marketing efforts by end of 2022.

Financial Forecast in The Next 5 years:

We built revenue models based on historical data based on the rapid growth of DeFi and NFT in 2020 and 2021 and the limbo in 2022. The idea is to build products, and get nano and micro influencers to peddle the products where their revenue is dependent on selling the product. We are turning all the products to have MLM elements in it where we utilise the nano and micro influencers to drive revenue growth. We built best and worst case scenarios and the number that we have built or presented is actually only 20% of the best case scenario's numbers as we do not want to be too optimistic.

The formula is revenue growth is the result of influencer marketing spending multiplied by the marketing efficiency multiplier. Marketing spend is easy to be measured, just calculate the amount of money spend on overall content strategy and each influencer but the marketing efficiency multiplier is harder to calculate and have to be measured on a daily, weekly, or monthly basis. The multiplier is the marginal revenue generated from the specific influencer divided by the amount spent on the influencer including content creation on the influencer and also the direct compensation given to the influencer. We have the numbers for the past activity, what we are tweaking is actually to increase the amount spent on marketing and also to increase the efficiency multiplier further.

Our actionable items include to produce content on a larger scale and involving more influencers. Now from 1-2 content per day on a single platform ie Tiktok and 11-12 influencers, we would like to scale to 4-5 content per day on Youtube, Twitter, Tiktok, Instagram, and Facebook and connecting with more than 200 influencers.

Furthermore, our strategy is basically to clone any apps in the crypto market BUT focus on the market it better through content is king strategy and localising it to fit local markets and produce it to target more niche markets. For example, cloning StepN but not only for the sneaker market but also targeting golf, cycling, hiking, boxing, yoga, bodybuilding, and all sports possible.

MARKET

We are in operating in the general crypto space and since the submarkets are highly fragmented and diverse, we will attempt to dissect based on the products.

At the moment, we are holding less than 0.01% of the market share in the industry in terms of value even in the SEA region.

We intend to capture just 0.1% of the market share in the SEA region in 2022 which translated to a potential revenue of USD70 million.

Our expansion plan is to utilise various micro influencers in each of the specific geography and submarkets and create awareness and “softsell” i.e. when supporting the influencer, users can participate in the process by buying NFTs that have a minimum price of USD 0.01

COMPETITION

As a conglomerate offering a product suite, we do not have a similar kind of competitors but for all of our products, we do have a clear sense of who our competitors are.

1. Nama – Our single competitor is ENS, who is controlling 99.99% of the market. Our USP is that we are way cheaper(10x) and we are able to integrate with any blockchain, not just Ethereum. Our weakness is that we do not have clear branding compared to them.

2. Pasar NFT – The biggest platform is OpenSea which is making USD1 billion per year in revenue while a local player is Pentas. Our USP is that we are able to operate on multiple chains, unlike Pentas which is only on BSC. Our weakness is that we do not have clear branding compared to them.

3. Bayar – Biggest payment processor that is capable of doing crypto transactions is Stripe. Our USP is that our product is ready and can be used within the SEA market where Stripe does not work on, for now.

4. Jebat – There are no competitors for this in web3 as it goes against the decentralisation ethos of web3. However, Metamask by Concensys is building a institutional friendly web3 client platform.

5. Wallet – There are various competitors including Metamask, Trust, Phantom wallets. Our strength is that we are able to work natively with omnichains.

6. Free Data Network – Nova Labs which raised 200 million recently is our biggest competitor. Our USP is that Nova Labs has no deployments outside consumer premises whereas we do target large areas and corporations as clients.

7. Hub – Infura is the de facto service provider. Our USP is that we are the only provider that can provide omnichains access.

8. Chat – There are no competitors for now. Etherscan’s team is building the same product but usage has been low.

9. Scan – Etherscan is the biggest blockchain explorer. Our unique USP is that contract ABI, transaction data and events data are customised based on the contracts deployed and approved by the Scan team unlike Etherscan where their data richness is very minimal.

10. Token Guardian – Coverage in crypto news have been mainly in English. We intend to diversify this by creating contents in Malay/Indo, Chinese, Thai, Tagalog where contents are customised based on the language of the users. Coin Desk is the biggest news source at the moment.

11. Firefox – There are no research agency specific to NFT. There are large firms in the token space such as Coin Gecko but NFT space is very nascent. Our focus is on NFT and the price actions happening on the NFT space.

12. Simping – There are no large competitors already existing in the space. Currently users rely on OpenSea. Our USP will be that is a 1-click for users to mint and sell their own NFT.

FUNDING

We are planning to raise RM 5,000,952 RCPS with 10% dividend per annum.
Our expected valuation is RM 31,790,000, where our trailing P/S will be 6x.
The amount raised will be used for:

VISION

COMPANY

History of business from the date of incorporation

The company started with research & design in hardware, firmware and Internet of Things (IoT) in 2011 up to early 2015. The company slowly to expand in late 2016 with customise software development for Transport Management & Tracking system served to appointed logistic company by Petronas Chemical Group. And thereafter, the company was granted the  MSC status in 2017 and the revenue growth RM200k to RM5mil in less than 2 years from 2019 with 60 employees with 5 offices across Kuala Lumpur, Perlis, Kuantan and a representative office in Pulau Penang.

FOUNDER

Afeez Aziz

Graduated in Bachelor of Degree in Engineering from University of Warwick, UK. Passionate about new technology and won the technology award initiated by Malaysia government (TERAJU) in 2015 and being appointed as one of the jury for the Malaysia Entrepreneurship programme. At the same year, the company leading has been selected as the potential technology company in Malaysia and sponsored by Tech in Asia to exhibit in Tokyo, Japan. In 2016, Afeez and the company has been invited by the Ministry of Economy, Trade & Industry Japan to showcase the Internet of Things (IoT) solution to assist agriculture and manufacturing industry in Chiba, Japan.

In 2017, Afeez and the company were invited to present the energy trading solution to the energy companies in the event held by Asia Utility Week at Bangkok, Thailand. In 2018, Afeez has been invited as a speaker in TMT Finance Asia in Singapore. And Afeez are also one of the core speaker in PyCon Malaysia to introduce and promoting the Python programming language to the ecosystem in 2019 and 2020.

With the forward thinking and open mind, Afeez carry the mission to bring new technology solutions all over the world with his expertise and he always believe that the technology can make the world a better place.

TEAM

DISCLAIMERS

“No shares will be allotted or issued based on this document after six months from the closing of the offer period.”

“This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.”

“This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.”