🌟🌟🚀[ANN][PRESALE] Snapup -Big announcement is Here 🌟 🚀

[Rigorous]

This question came up during the Q&A:

"Are there different prices depending on the location of the customer?"

And I answered something like "the customer's location is irrelevant because Snapup buys the product from the manufacturer and delivers it through dropshipping, therefore Snapup's location decides the price."

But after applying a different point of view I realize it could be profitable for Snapup to do geographical arbitrage, by buying products from the cheapest location (eg. China as opposed to Estonia) and displaying a different base list price based on the user's location. Has Snapup thought about this opportunity?

[1714241290]

1714241290

[1714241290]

1714241290

[1714241290]

1714241290

[Elkmar]

I want snapup to expand to Africa.  If you  can add African countries to the target area,  it will skyrocket. Covering alot of demographic and wider geographical area will be of help for the success of snapup..  If I may ask what is the age group and gender.  I will like to know the range.  

They planning launch their store worldwide! But first country ll be in Europe..

Well there's nothing said about launching snapup worlwide ...

It will be first in europe, then they plan to launch it in India and south east asia markets in 2020 ...

[snapup]

This question came up during the Q&A:

"Are there different prices depending on the location of the customer?"

And I answered something like "the customer's location is irrelevant because Snapup buys the product from the manufacturer and delivers it through dropshipping, therefore Snapup's location decides the price."

But after applying a different point of view I realize it could be profitable for Snapup to do geographical arbitrage, by buying products from the cheapest location (eg. China as opposed to Estonia) and displaying a different base list price based on the user's location. Has Snapup thought about this opportunity?

At the beginning, products will be bought and shipped in the nearest location to the customer who has been assigned a Snap for that product.
This will allow our customers to receive the products in the quickest way possible and help build a positive brand awareness for the Company.

We want to offer a premium experience to all the people who join our platform, and want the shipment to be handled by the best retailers, that also offer great customer support in case any problem arises with the shipment or with the product itself.

Having that said, as you can read in Chapt. 7 of our whitepaper "How will the value of Snapcoin increase?" We expect our partnerships with retailers to become more advantageous for us as the volume of our annual turnover increases.

Hope this answers your question

Alex - CEO @ Snapup ltd.

[onlytemporary]

This question came up during the Q&A:

"Are there different prices depending on the location of the customer?"

And I answered something like "the customer's location is irrelevant because Snapup buys the product from the manufacturer and delivers it through dropshipping, therefore Snapup's location decides the price."

But after applying a different point of view I realize it could be profitable for Snapup to do geographical arbitrage, by buying products from the cheapest location (eg. China as opposed to Estonia) and displaying a different base list price based on the user's location. Has Snapup thought about this opportunity?

At the beginning, products will be bought and shipped in the nearest location to the customer who has been assigned a Snap for that product.
This will allow our customers to receive the products in the quickest way possible and help build a positive brand awareness for the Company.

We want to offer a premium experience to all the people who join our platform, and want the shipment to be handled by the best retailers, that also offer great customer support in case any problem arises with the shipment or with the product itself.

Having that said, as you can read in Chapt. 7 of our whitepaper "How will the value of Snapcoin increase?" We expect our partnerships with retailers to become more advantageous for us as the volume of our annual turnover increases.

Hope this answers your question

Alex - CEO @ Snapup ltd.

The bolded part above is probably the most important aspect of snapup. Good customer support goes a long way, it instills a lot of confidence in the consumer.

[no-ice-please]

Ok but mathematically you can't purchase products at a lower price in the long run. If you participate in thousands of events, at some point your losses should be averaged with your savings and overall result in paying the original price of the product. When you save, someone has to pay, and when you pay, someone can save.

Would anyone from the team mind commenting on this? It is not precisely true to say that you could shop premium products at lower prices. Someone has to pay for your benefit, and in the end the community in aggregate didn't save a penny. In the long run, even an individual shouldn't be able to save money. Correct me if I am wrong please.

You can see in the whitepaper that the revenue per product is higher than its cost, because of the participation fee and winner's contribution. Theoretically you would be correct, except there's a way to push luck in your favor through the karma system. Anyway, the main thing to remember is that is designed around the sensation of winning a super discount. That is something worth in itself. And that psychological effect makes it a perfect investment.

Well, the expected value for any single individual participating in events should approach zero with zero = original product of the price under the assumption of an individual's participation converging ∞. This is not a new economic model. 

You have a chance to buy it cheaper just like you have a chance to win 1000 in a lottery. You may end up spending more or less than the original amount in participation fees before you win the prize.

Besides, "the product" is a malleable concept, it's the combination of the tangible and intangible. Why is a 120 g of peas in a cute tin can more expensive than a pound of peas in a bag? Why do people buy coconut water? Why do we happily keep paying the Apple premium?

The point I am making is that I can't seem to find a "new economic model". There is no new economic model. It's a lottery with some extra spice called "Karma". A lottery is not a new economic model, is it?

So nobody wanted to respond to that. I guess I can't be too wrong with my analysis Anyway, good luck with your project, I just don't like bold claims like "we present a new economic model". Why stretch it so far if you have a cool blockchain based product to offer?

[germsite]

I understand the system, gamifying the shopping experience while distributing the discounts. If this takes off then it will be huge.

In your whitepaper I found the words "chance" and "win". It has an element of lottery, which is a game of chance. Therefore, considering the various gambling laws across the world, are you planning to get licenses?

Its not a  lottery, its just auction. Ebay also gambling servece? I dont think so...

This is not correct. On eBay, price is the sole determination factor, which has nothing to do with luck. In snapup events, there is a PIN that ensures the luck factor to be introduced into the drawing. It is a lottery after all.

How exactly works this pin system? I thought that this is lottery with Karma system build-in

Exactly, it is a lottery. It cannot be compared to eBay at all like someone here has done before.

[Rigorous]

Exactly, it is a lottery. It cannot be compared to eBay at all like someone here has done before.

There is a small auction element in the Snapup algorithm.

Long story short: The more you are an active user on the platform, and the closer to 20% of the retail price of the product you are willing to pay, the higher your chances are to be the assignee for that Snap.

However I cannot imagine that element will be long-lived. I think Snapup will fast realize everybody will bid 20% to get the highest chance. Because why would a customer lower the chance to win by say 50% just to get a 10 percent point higher discount on an already amazing 80% discount?

Unless there are different motives, for example that it adds an element of skill so that it's legally not a pure gamble. But there are better alternatives for that, eg. a simple puzzle.

[toolucky98]

Will the ico money also be used for marktplace products?

I am sorry, I don't think I got the question right, can you elaborate a little bit more on that?

Thank you

Alex - CEO @ Snapup

Maybe he want to buy marketplace products with your token/coin?

[toolucky98]

I want snapup to expand to Africa.  If you  can add African countries to the target area,  it will skyrocket. Covering alot of demographic and wider geographical area will be of help for the success of snapup..  If I may ask what is the age group and gender.  I will like to know the range. 

They planning launch their store worldwide! But first country ll be in Europe..

I hope this will very quickly spread to all countries, especially my country in southeast asia.
Maybe it could happen before 2020

[germsite]

Exactly, it is a lottery. It cannot be compared to eBay at all like someone here has done before.

There is a small auction element in the Snapup algorithm.

Long story short: The more you are an active user on the platform, and the closer to 20% of the retail price of the product you are willing to pay, the higher your chances are to be the assignee for that Snap.

However I cannot imagine that element will be long-lived. I think Snapup will fast realize everybody will bid 20% to get the highest chance. Because why would a customer lower the chance to win by say 50% just to get a 10 percent point higher discount on an already amazing 80% discount?

Unless there are different motives, for example that it adds an element of skill so that it's legally not a pure gamble. But there are better alternatives for that, eg. a simple puzzle.

Thank you Rigorous for steering the discussion into the right direction! Exactly what I am thinking. But as far as I can see, those things didn't really get discussed, did they?

[sserugh]

After some more reading I understand your economic model a bit better. But to those who pay without getting anything(correct me if I am wrong), how will you convince them to continue paying? I mean, some people will pay and pay and pay, and loose a lot compared to just buying the products that they want?

I Did not get an answer to this, and i think it's one of the more important questions. I mean if you have no plan here then you could just advertise this as a lottery with the prices that you really want to win. Maybe not the worst idea

Hello, thank you very much for joining and for taking your time reading our whitepaper. This is a great question and I will be very glad to answer it.
Our mechanism is calibrated to allow an healthy turnover in the victories and keep the interest high both for the ones who are, and for the ones who are not yet being assigned the products.
furthermore, our business model and our margins allow us to distribute incentives among participants. This, combined with the current state of our competitors, and the technological advances we want to bring in the market, makes us very confident on the power of our value proposition

Alex - CEO @ Snapup ltd.

Trying to wrap my head around what you actually wrote here. I must say the answer is a bit of a politicians answer, I mean, not the clearest and most direct. So could you please be a bit more specific in your answer?

[sserugh]

Correct me if I am wrong here, but basically u will sell products in a lottery, with prices/stuff that the buyers really want. So if a lottery can work(even thou everybody knows in the long run the majority loose), then this should as well

[Trrrt]

Its not only a lottery system. You can see it like that, cause you have not 100% chance to win premium product in each case. But it will be based on will intention to determine your change to have the snap. But if you don't win you will improve your karma, or a system like that. So if you lose a lot of time you will improve your chance to win each time you lose.

[cryptosamuri]

I am really looking forward to the official launch of this platform and to be able to get the products that youll be offering. I can see the SNP tokens going way up in value and to get a 20 % bonus on them now is awesome that makes any thing you buy with them almost free.  I am getting extra just so when my teen asks me for the next greatest tech I have them handy that way i get the tech at a discount and walk away from my teen the hero , well an even greater hero anyway.

[pynetx]

I like the part where user don't necessarily have to know about cryptos. Because not everyone is aware about them.

This is the best way for them to be introduce into crypto and interact with it, bidding using crypto is like an introduction to trading as well.

Yeah, that way everyone can be part of the crypto revolution.

And that's the key for mass adoption. If something is simple and gives you fun, people won't be complaining about "crypto stuff"

Snapup seems to simplify the whole crypto process for mass adaption.

[Bambulee]

Let's join the snap up program and get the 20% presale price 

[chichidori]

Gonna snap me some coins and build some karma to use it in the items that i like to get, bigger karma more chances to win. 

[magisterr]

Let's join the snap up program and get the 20% presale price 

pre-sale ll beginning in 11 days...

[zhongzy]

Let's join the snap up program and get the 20% presale price 

pre-sale ll beginning in 11 days...

glad to know that , there is a lot time to keep watching , hope receive more good news from Snapup  team

[snapup]

Let's join the snap up program and get the 20% presale price  

pre-sale ll beginning in 11 days...

glad to know that , there is a lot time to keep watching , hope receive more good news from Snapup  team

We are working really hard to bring you guys the best crowdsale experience possible

We will start answering questions again as soon as everything is ready for the crowdsale.

For more information please visit our YOUTUBE CHANNEL. We've been releasing one videolog a day for the last couple of weeks
plus you will find the replay of the live q&a session.

Thank you very much