Watugot is going to be a market place for retail stores to compete against each other with exciting offers & discounts. Users will be able to see offers and discounts based on location, categories and keywords. Just like the pi community which is global, Watugot is also going to be global phenomena whereby allowing users to redeem pi’s for offers & discounts across the globe. It primarily aims at catering to the great downfall of the retail store fronts due to a variety of reasons ranging from e-commerce boom to the ongoing pandemic.
Users will be able to redeem pi at a considerably lower value against the discount offered and in course of time, users will also be able to earn pi’s from the stores.
Users will have the freedom to sign up stores from their neighbourhood on to Watugot and they will be rewarded a % of every transaction that will happen in that store with pi’s spent by other users against the discounts. They will also get a limited number of free transactions at other stores as well for every store sign up.
Watugot is a registered company in India and we have been working on this project for the last couple of years and was looking for a ideal cryptocurrency which could be used as a base currency to enable transactions and since pi network has a huge customer database globally, we can reach out our product to the market in a quick span of time and both teams could benefit mutually. Processes are in place to file for Trademark.
Add on features:
The app also has a feature for barter trade which will again be powered by pi currency and the transaction cost will be bare minimum. Users will be able to trade used and new goods against pi thereby not only creating value for pi but also increasing the pi community at large.
The app is almost complete as a product and we need to incorporate the pi sdk into our platform and conduct extensive testing so that we don’t leave any stone untouched.
We have a two co- founders, an investor, development team & financial advisors in place and we are going at a steady pace to get this accomplished.
Retail stores find it extremely difficult to conduct ad campaign and there is currently no good strategy in place where they can maximise their spend on advertising and by Watugot offering their free services to list retail stores on our platform, they get visibility to a larger audience of the likes of 10M+ users.
Plan of Action:
Watugot is a two step process in enabling pi being accepted on a mass scale. The first step is to enable it as a coin to avail discount and in moving forward accomplish the much larger task of accepting pi as the currency for day to day transactions against goods and services.
We have a whole lot of scalability plans in place as well which will be added in the coming months and years after the launch of the app.
Glimpse into scalability:
Same day shipping is a tough task. However with local stores being signed up on the platform, we can showcase their entire product line with live inventory, so that users can search for products in their nearby stores and place orders on the app. By signing up with a local delivery partner we can have the goods shipped to their doorstep the very same day.
*** Feasibility of this feature is being studied carefully.
The project is made for people and it will be grown by people as they will be the force to add the retail store fronts on the app and they will be rewarded accordingly for their time and effort.
We want to make life easier for people which includes both users of pi network and businesses.
FYI- There is currently no app on a global level allowing retail storefronts to showcase their offers & discounts for free and with a strong Pi community we can make the impossible, possible.
***We wouldn’t be able to share the operational and technical aspects of the project since this is a business model and it’s confidential.