Satoshi’s Index Becomes First Fintech Company to Use NFTs for Software License Ownership
The technology innovation uses NFTs to authenticate user ownership and permissions by recording software licenses of their product on the Ethereum blockchain
SEATTLE, February 21, 2023--(BUSINESS WIRE)--Satoshi’s Index, the Web3 fintech firm offering automated crypto investments, relaunches with an upcoming mint, updated platform, and a first for blockchain - offering ownership of a software license using blockchain-token technology.
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Satoshi's Index (Graphic: Business Wire)
Each NFT owner will receive unlimited access to use the firm’s financial dollar-cost averaging products and corresponding cryptocurrencies investment platform. The token authenticates ownership by verifying an email and corresponding wallet address to confirm that the user possesses the token. This is the world’s first recorded use of a token-gated SaaS platform in fintech, which uses individual NFTs to own, trade, and sell a software product.
The project will mint an additional 737 NFTs on February 23rd at .15 ETH each, in order to continue to scale and improve the product before raising outside capital investment. The firm, which raised start-up capital from their initial mint, has no current outside investment and remains totally crowdfunded by their several thousand strong Discord community, a group of crypto investment enthusiasts lovingly called ‘Satoshi’s disciples’. The verified holders also inform the product roadmap, voting on new features, exchanges, and trading strategies that will get added to the platform next.
Lennox Matsinde, co-founder of Satoshi’s Index, said: "Imagine a world where software is tokenized and you could own your Netflix or Spotify subscription. Then when you no longer needed it, you had the option to re-sell it on a secondary marketplace, at a price of your choosing. Smart contracts and blockchain technology unlock new and disruptive use cases like this, that have previously not been possible. The ability to sell software by both license and subscription has enabled us to expedite our growth without the push to raise outside capital. Our vision has always been to democratize and simplify crypto for the retail investor. However, the ability to also buy and sell the software license itself on the blockchain, has revolutionized how we think about software as a service."
The crypto trading platform, which tracks a user’s crypto investment history as well as the top performing cryptocurrencies by trading volume, has been completely rebuilt from the group up for improved navigation and readability. The platform plugs into a user’s exchange via API and executes dollar-cost average buys to diversify a customer’s portfolio. Satoshi’s Index is not a custodian of any crypto. All assets live in the user’s own exchange.
Kevin Villatoro, co-founder of Satoshi’s Index, said: "You can think of us like a crypto 401k plan. Everyone thinks crypto is a get rich quick scheme and bad actors have flooded the space with misinformation. We’re committed to bringing long-term, traditional investing strategies, education, and tools to the crypto space for the average investor. Anyone who wants to get behind that mission can OWN that promise with lifetime access to our trading tools with our NFT product."
For those that want to test the platform, the team has also built a simple subscription model which can be accessed traditionally via an email and credit card. Exact mint information below.
*Project Name:** Satoshi’s Index
**Mint Price:** 0.15ETH
**Date Of Mint:** Feb 23, 2023
**About Satoshi’s Index**
Satoshi’s Index exists to educate, innovate and democratize retail crypto investing. Satoshi's Index is a token-gated SaaS platform that enables automated portfolio management for crypto investors. Holding an NFT grants users unlimited access to the trading tools and platform. Users can also access the platform and trading tools via paid short term subscription. The index tracks the most popular coins by trading volume every month, allowing customers to instantly diversify across a basket of coins.
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