The Nexus Project aims to provide users with a path to trade in-game currencies and other digital assets used in different publishers' ecosystems. Currently, users have limited to no options when trying to move an in-game currency from one game to another, and a gamer who decides to switch from one MMORPG (Massively Multiplayer Online Roleplaying Game) to another cannot expect to take their in-game currency with them despite all of their efforts. To solve this problem, the Nexus Project has created an Algorand Standard Asset with the goal of facilitating these transactions.
Nexus is also in the development of an escrow smart contract that can secure any trade between two users. This smart contracts release is scheduled for Q1 2022 and will be one of Nexus ASA LLC’s main sources of revenue.
The Nexus Project team decided to work on the Algorand platform especially because of its transparency and fast transaction times. Previously, when users have attempted to convert in-game currencies, they may have faced the challenge of not knowing if they could trust or verify another player's wallet holdings. However, by first converting to Nexus (GP), a user can determine if another player has enough GP to facilitate an exchange. Therefore, the benefits of an asset on Algorand can lead to much greater accessibility and trust which, in turn can strengthen online gaming communities and trading platforms as a whole.
The maximum supply of Nexus (GP) is 10,000,000,000 (ten billion), and the creator wallet ID is 5W3K7JJLHLFPQF7Y2JOOGATKHP46N3HNCZPYYO2XGKPTJ2P7B3KU6GPR54. The original funding for this project comes from the creator, u/GregoryMyLlama on Reddit and Discord (Jacob Woodrow). This creator wallet has been published here so that anyone has the opportunity to verify and track transactions. During the early stages of development, it is worth noting for the sake of transparency that the team has been conducting "airdrops" to seed the asset among users in preparation for the future release of the platform. These airdrops are NOT released with the assumption of adding liquidity on any form of exchange. Any additional funding during initial development will be through donations from the community, although the Nexus Project's team will never actively encourage our community to donate nor provide rewards to donors. All donations are strictly voluntary, and anyone participating in the Nexus Project's development who solicits donations from the community will be removed from the project's development.
Since wallets on the Algorand platform are transparent, there is increased accountability for the holders of Nexus (GP). If any user of the platform misuses or attempts to misuse the asset, funds can be restricted or blacklisted, and any wallets interacting with the funding may also be banned from the system. The Nexus Project team considered using a "clawback" function of Algorand to combat scams and misuse on the platform, but after input from the community, the team decided against this due to concerns about security risks through the clawback function.
As of February 7th 2022, the Nexus Project's team consists of the project leaders, Jacob Woodrow (President) and Joshua Woodrow (Vice president). Nexus also has a volunteer staff consisting of four community members that hold events and answer questions regarding the project.
As of February 7th 2022, There have been 73,233 transactions involving Nexus (GP). Nexus is a traded asset on the Tinyman platform with 32,660.68 Algorand in the pool paired with 235,000,000 (GP). Nexus is also providing the option for its holders to Stake the Tinyman Liquidity token via AlgoStake.
Aside from facilitating in-game transactions, Nexus will provide a platform for users to find each other and connect via an ‘ASA marketplace’. The marketplace will support different categories of digital assets, and eventually physical assets.
Any information requests can be sent to Support@Nexusasa.info or you can directly reach out via Reddit or Discord. A document form of this Whitepaper can be requested by contacting the Email listed above.