Twitter: @JinkouNFT
Discord: discord.gg/jinkou
Greetings chiefs!
As I said in the last write-up, for the next few days we will witness some great projects going for mints one by one, and stoned frogs wonderfully commenced that journey, with 8400 NFTs being minted via individual wallets. The volume in Magic Eden in the last 24-hours is well above USD 12 Million. And to make sure it stays this way, Jinkou is going for mint on the 23rd of April.
Jinkou is web-3 based ecosystem which aims to allow people to directly pay via cryptocurrency for any purchases being made or any service being availed. It plans to onboard merchants across the globe using its j-terminal service which will allow them to accept payment in cryptocurrencies.
Apart from J-terminal, they have also planned services like J-Pay and Jinverse which we will talk about in the latter part.
The mint information is as follows:
Supply: 5858
Price: 2 Sol
Time: 4:30 pm UTC (WL1) | 5 pm UTC (WL2) | 7 pm UTC (WL3) |
8:30 pm UTC (Public)
Now let’s take a deep dive into its roadmap
The entire roadmap of Jinkou is based on 3 pillars:
Strategic Web 3 adoption and Penetration:
The main aim here at this stage is to onboard merchants across the globe to use their solutions which will allow consumers to pay via their cryptocurrencies. What are the solutions being offered?
They have worked upon 3 Solutions:
J-Pay: J-pay is a Multichain Crypto Payment Gateway which can be integrated with popular commerce platforms such as Woocommerce and Shopify. This feature will allow consumers to have J-pay as an option to pay for their purchases on the checkout dashboard of the various e-commerce platforms. It is like using your Net-Banking but with crypto. I have seen a lot of people talking about the fact that discord should use payment as crypto as an option so that they will be able to pay for their nitro subscription via their cryptocurrencies and not by their parent’s credit card and this might be one of the solutions that can help resolve this issue.
J-Terminal: It is a Multichain Payment Terminal system that can be easily used in in-store and retail commerce spaces. This feature replicates the same procedure of how a consumer pays while he/she goes shopping physically. Here the merchants will have to install the J-terminal tool in their shop just like any credit card accepting machine and that is pretty much it. They even have a beta app ready which the consumers will use to make the payments after scanning the QR Code in the J-terminal.
They have even posted a video showing the process on their Twitter:
https://twitter.com/JinkouNFT/status/1502419345867255815?s=20&t=H0JIBRtIoO2skI7AqvH38g
The project has managed to onboard the following merchants who have started using J-Terminals
1. TerraForm Labs HQ, Singapore
2. The Project, Thailand
3. Hog’s Head, Thailand
4. Hom Hostel & Cooking Club, Thailand
5. Drinka Coffee, Malaysia
6. Awatara Boutique Resort, Indonesia
But the one question that arises here as this may take time for mass adoption:
And to take care of that the team has mentioned that soon they are going to release their app in both Playstore and Appstore, which will make the process of using the service of J-terminal easier, as it will allow the merchants to use their smartphones as a medium to accept the payments instead of using a J-Terminal machine.
Jinverse: As you have already guessed by the name, jinverse is the metaverse of Jinkou which will provide a multiverse buying/shopping experience to consumers. Here you will be able to directly make your real-life purchases using Jinkou’s service while being in a metaverse.
In all this are there any benefits to the holders?
Well, they have currently announced 2 benefits.
- Holders will get paid based on the fees collected by the merchants as a charge.
- 50% royalties from the secondary market sales will also go to the holders as a form of passive income.
The team has mentioned that additional benefits to the holders will be announced once Jinverse goes live.
Art: This is one of the points about the project that shows how professional the team is and how thoroughly they have studied the Solana NFT Marketplace before launching the mint. One thing that has happened in the past with Utility NFTs is that most of them have failed to realise the importance of how their JPEGs look like. Since it is an NFT that the people are going to spend their money on, they expect something cool to show off in their wallet which they can use as their PFPs.
Jinkou noticed this mistake of its predecessors and they worked upon an art which looks good and it shows they have put work into it. Apart from the art, the interface of the website looks great as well. It is easy clean and adds that professional touch that the project stands on.
Engagement: The team launched its discord on the 10th of March, and till now they have managed to build a strong discord of around 26,000 members. The engagement is not as strong as I expected, since the supply is around 6,000. They are clocking an average of 200 reactions on their announcements posts and on their sneak peeks.
They have been fairly active on their Twitter as well and have around 13,000 followers with an average engagement of 50–100 likes per post.
One thing I found missing is that they don’t have any big sol influencers in their Discord or someone who has tweeted about them, owing to the fact that they are bringing something that will help in developing the Solana Ecosystem.
To conclude, I would say that I liked the fact that the team has developed the beta app and has shown the first looks of it before the mint, and has also managed to onboard merchants who are ready to use their product. Apart from that, they have mentioned that 200+ ready merchants will start using the J-terminal service soon.
Apart from this the fact that they have built such a good art for a utility NFT project also speaks how they don’t want to leave any stone unturned to impress the Solana NFT Community.
One thing that I found missing in the project is the actual utility that will allow the users to hold onto the project in the long run. They have mentioned that they will add additional utilities as soon as their metaverse gets launched.
Also adding to the fact that they have a supply of around 6,000 NFTs the hype and the level of engagement they are getting is kind of low as compared to other projects with the same level of supply but since the volume on Magic Eden is at such heights we never know when the hype kicks in and the project gets sold out, so keep an eye onto that.
The project looks great fundamentally and I think they will do great in the long run if they will be able to deliver on what they promise.
I would rate the project 3/5 based on the concept and the art, the project deserves to be in the 3.5 category, it's just the current utilities that are stopping me from giving that score.
As always DYOR.
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Thank You!
