• Satoshi’s Index becomes the 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.
• The firm has no current outside investment and remains totally crowdfunded by their several thousand strong Discord community.
Satoshi’s Index Uses NFTs for Software Licenses
Satoshi’s Index is a Web3 fintech firm offering automated crypto investments, that is relaunching its platform with an upcoming mint, updated platform, and a first for blockchain – offering ownership of a software license using token-gated SaaS platform in fintech. It minted an additional 737 NFTs at .15 ETH each, in order to continue to scale and improve the product before raising outside capital investment. There is no current outside investment for this firm and it remains totally crowdfunded by its several thousand strong Discord community called ‘Satoshi’s Disciples’. They inform the product roadmap, voting on new features, exchanges, and trading strategies that will get added to the platform next.
The token authenticates ownership by verifying an email and corresponding wallet address to confirm that the user possesses the token. This allows them access to use the firm’s financial dollar-cost averaging products and corresponding cryptocurrencies investment platform. Each verified holder also informs the product roadmap, voting on new features, exchanges, and trading strategies that will get added to the platform next.
Tokenized Software Subscriptions
The project provides an opportunity for users to own their Netflix or Spotify subscription using smart contracts and blockchain technology which unlocks new disruptive use cases like this which have previously not been possible before now. The ability to sell software by both license and subscription has enabled them expedite their growth without having to raise outside capital too quickly or often.
Revolutionizing How We Think about Software as a Service
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…This has revolutionized how we think about software as a service.” They have created an opportunity for users to own their subscriptions as well as having the option re-sell it on a secondary marketplace at a price of their choosing when they no longer need it anymore.
Satoshi’s Index is leading innovation within Fintech with its use of NFTs providing authentication of user ownership while allowing access their financial dollar-cost averaging products & corresponding cryptocurrency investment platforms amongst other things such as owning & selling Netflix/Spotify subscriptions etc…