While online shopping may be simple and straightforward, there are still issues that the industry must deal with. Shopping online still has issues with transparency, untrustworthy merchants, and high transaction fees. Even though there are some digital assets that are linked to retail, the majority of cryptocurrencies are still digital assets linked to retail that are untrustworthy.
This leads us to the Kardvin token (KRN).
Kardvin is attempting to establish itself as the first digital currency for worldwide online shopping. By merging the transparency of blockchains with physical retail in the digital metaverse, Kardvin hopes to provide the first ever full retail digital metaverse for retail consumers and the first digital metaverse for Kardvin.
This guide will provide you with the breakdown of the most important details of this project and its system, as well as the future goals of this project.
What is Kardvin (KRN) Token?
At its foundation, Kardvin is not a standard cryptocurrency, it is a retail utility token for the Kardvin platform. In its White Paper, Kardvin states that it is a global marketplace that is based on blockchains that connects seamless consumers and retailers in the United States, Europe, and China.
The goal is to use the platform to streamline international trade. Using blockchain, Kardvin will be able to provide better prices, lower fees, and faster deliveries than traditional ecommerce.
Ticker Symbols
It is important to understand what token you are looking to research. For example, the ticker symbol KRN is also used by KRYZA Network, an unrelated project on CoinMarketCap and CoinGecko that has a circulating supply of approx 222 million. When buying or researching, always confirm the project name and contract address so you know you are dealing with the right Kardvin ecosystem.
Ecosystem of Kardvin
We make a distinction between speculative meme coins and Kerdvin’s focus on retail. The following are the 4 tenets of the ecosystem.
1. The Merchant Credibility System
Kardvin has earned the right to be considered a meme by banking the internet’s trust currency. Because of the system’s reputation, merchants are able to store, manage, and review the records on the blockchain, and buyers can control their own records to trust. Since the information on the public ledger is immutable, merchants can’t edit or erase it. Because of the traditional review systems, transparency is brought back where it is so often removed, and is a major means of manipulation.
2. Kardvin Pay Gateway
Credit card processing fees are often large enough to impact merchant profits. These costs to the merchant are typically passed on to the consumer. With the usage of KRN, merchants can facilitate seamless, low-fee, completed transactions. This system does end-to-end global shipping so that the payment and logistics are aligned within the same system.
3. The Virtual Mall (VR Shopping)
The “Virtual Mall” is, perhaps, the most innovative component of Kardvin. The company intends to build a 3D shopping experience that is fully immersive and can be used with a VR headset. Users will be able to browse and shop at fully integrated and operational Digital stores. With the ability to virtually try on clothes and have the items shipped to their actual address, the experience will be unparalleled. These transactions will be conducted with KRN in the metaverse.
4. Kardvin Currency Exchange Protocol (QCEP)
The QCEP is part of the ecosystem and provides the necessary liquidity to operate efficiently. This protocol is designed to enable the exchange of KRN for other crypto assets (such as Bitcoin and Ethereum) at reasonably priced rates. With this, merchants and consumers can freely enter and exit the ecosystem, and the shop and spend at their own discretion.
Real-World Use Cases
The impressive capabilities of a theoretical model are, of course, models. What can it do for a user in their daily life?
For Small Retailers
Small retailers, particularly e commerce businesses, face competition from the large e commerce businesses as they are unable to spend the money to advertise to increase their visibility. The large e commerce businesses’ selling platforms take a cut of the total sale reducing the profitability of selling to the end consumer. The use of Kardvin enables smaller merchants to sell their products at the same time as larger vendors. The architecture of blockchain enables small businesses to sell their products as easily as large businesses because of the relatively inexpensive scalability of blockchain as compared to traditional large business infrastructure.
For Global Shoppers
International shopping has its challenges. On transaction currencies, added fees are incurred in addition to longer shipping times. With the use of KRN, a customer in the U.K. can now shop from a supplier in China without the concern of paying transaction fees as KRN is the means of payment. Kardvin has also simplified international shopping by managing shipping.
Roadmap and Future Potential
At present, Kardvin is in the Initial Coin Offering (ICO) and presale phase. Notable activity is derived from these phases.
Strategic Partnerships
So far, Kardvin has confirmed interest from large players in the retail and finance sectors. The aim Kardvin is to have large retailers, who are also large-scale international freight forwarders, integrated into the Kardvin marketplace alongside smaller retailers.
Exchange Listings
Upon finishing the presale, the roadmap aims to list KRN on the first centralized exchanges. Getting on these platforms would help us get the first access to customers on exchanges like Binance, Kraken, or Coinbase.
The Shift to Web3 Retail
The adoption of Web3 retail also plays into the hands of Kardvin. In their most recent previews, Kardvin is one of the first to offer a digital marketplace complete with meta/VR commerce and crypto pay support.
How to Acquire and Store KRN
The means of acquisition of KRN will also change as the project progresses through its presale and into public trading.
During Presale:
Users will have to visit the official website of Kardvin, complete their site registration as a user, and then they will be able to exchange a number of established cryptocurrencies like (USDT, ETH, or BTC) to a number of KRN tokens.
Post Launch:
The KRN tokens will most likely be listed on the biggest crypto exchanges as soon as the public presale is over.
Storage:
Since KRN will be a crypto asset on the blockchain, it will have to be kept in a crypto wallet that will support KRN. You will only know what kind of tokens will KRN support (Ethereum or Binance Smart Chain) once it has launched. Still, Standards wallets like Meta Mask and Trust Wallet, or a Ledger (which is the most popular option for long-term asset safety) will be a good choice for a crypto wallet.
Is KRN a good investment?
Kardvin Token has a good case for retail’s use of blockchain. It has high fees, trust issues, and a divide between VR and real world shopping, addressing several market pain points.
Investors need to do some research.
- Check the contract: You need to ensure that what you are getting is the correct KRN token.
- Risk: Early stage ICOs are more risky compared to more established tokens.
- Roadmap: The success of this project is heavily dependent on the team’s ability to build the Virtual Mall and deliver on the retail partnerships.
If the team at Kardvin is able to execute this, we will think about e-commerce in a completely different way.
