WHAT IS MEGAX? MEGAX is a movement centered around a millennial–driven retail token and developed for a fresh, emerging retail network. It was formed due to the need for a growing pool of independent, exciting, and eclectic brands to reach their targeted market -the exponentially-growing and constantly-shifting millennial generation.
MEGAX was formed due to the need for a growing pool of independent, exciting, and eclectic brands to reach their targeted market -the exponentially-growing and constantly-shifting millennial generation (consumers born between 1982 & the early 2000’s). This is a generation marked by a swelling interest and competency in communications, media and digital technologies. The millennial generation is unlike any other that has come before it. Due to the amassed advancement in technology, millennial babies were born into a society obsessed with new and ground- breaking technologies. The children of this generation were raised with access to virtually anything they desired, or anyone with whom they wished to communicate - all at the mere touch of a button. As social media platforms such as Facebook, Instagram, and Snap- chat surfaced, millennials discovered the ability to create profiles and virtual expressions of themselves to the web of this wide, voyeuristic world. Through this, a “me” generation was created. Although every individual is different, millennials carry certain similar characteristics. They are strong–willed and opinionated, while being extremely indecisive at the same time. They change their minds as rapidly and frequently as the shifting of their thoughts and ideas. And so, it follows for them always to demand more. Their swift and fast–paced minds prevent them from finding satisfaction in the current and conventional means of e-commerce. As a result, the retail industry is falling behind.
STAKE Decentralized ownership of retail tokens by millennial consumers SYSTEM A broad and growing network of more than a thousand independent, hip, & trendy retail stores and brands adopting the retail token as an alternate payment as well as expense VIRALITY A self-propagating system riding on the network effects among the digital generation of both the brand owners and their loyal following TECHNOLOGY Digital wallet and hardware for a secure payment and exchange with fiat currency. Seamless and quick transactions for retailers
MEGAX will power and ride on a proven retail concept: engaging millennials is our specialty Prior to the creation of MEGAX, iFashion had already established an existing network of more than 1400 independent brands, with a combined reach of more than 2 million consumers and end-users. It has successfully run offline millennial-themed retail events, attracting over 600,000 consumers in only a few days. Within its own assets and brand offering, iFashion has successfully run 4 leading e-commerce brands and marketplaces in the fashion and lifestyle space, with in-depth expertise from supply chain, to marketing, and to fulfillment. iFashion understands the intricate and fragile needs of both brands and millennial consumers alike. MEGAX is also ensured to generate a secure and convenient means of exchange for millennials to pay at the point of sales. With 10 years of payment technologies experience, Ffastpay (product of MC Payments, a technology partner) will partner with us in launching MEGAX.
As the millennial generation emerges, so does a new age. The future of retail is rapidly approaching – and millennials have seized control. Individuals raised in a hyper–technologized world, millennials’ minds have been immersed in and formed by social media from its very inception. Social media has supplied a platform for them to cultivate and voice their opinions and ideas. They need to be online and connected with people constantly. They want access to goods –even if they are halfway across the world. They know what they want, and they want it now. And so, they want their future experiences to coincide with the immediacy of this way of life. MEGAX seeks to fulfill these desires – whether subconscious or not. Millennials are becoming increasingly self- centered about their needs and desires. As a result of the “me” generation, millennials stand up to fight for their thoughts, ideas, and methodologies.
THE MILLENNIAL RETAIL PROBLEM The current retail industry has failed to move, change, and develop at the rapid pace that the millennial generation demands –causing a substantial loss in overall market share. Rather than attempting to fight the trend with awareness campaigns or customer retention tools, we seek to dive right in and further the movement. It’s time for brands to stop ignoring millennials’ needs, and instead pave the way for them to participate in retail on their own terms. The development in cryptography and blockchain offers a fascinating promise -the ability to provide a token owned and controlled entirely by the holders, a truly decentralized ownership. By combining the technological benefits of block- chain with a network of trendy independent brands, all subscribing to the same vision of a collective millennial narrative, MEGAX has created much more than just a new, innovative product. We have created a movement fashioned and wired specifically for the millennial. The initial participants of the movement will act as a force paving the way for our vision. Similarly, the MEGAX team will tend to and groom these initial leaders with strong retail support, along- side fervent brand and technology development. Through a growing web of brands and consumer adoption, we intend for our network to spread the movement rapidly. In time, MEGAX will mature into a full-fledged millennial influence, capable of directly dictating retail flow and focus. As the consumer takes back control and determines its own direction, vibrant brands will benefit by participation. MEGA X will act as an exclusive retail movement. Non–participants will no longer be part of the conversation. As millennials regain sole influence, brands will come and go based on their frequently varying opinions, wants, and desires. It will be transparent and open for everyone in the network to witness. A glorious retail phenomenon.
MEGAX is much more than just a coin/blockchain. It’s much more than even a mere introduction of a new product. In its entirety, MEGAX is a millennial movement. The optimal path forward is to start fresh, offering originality and individuality, thereby creating a movement that millennials can latch onto, direct, and call their own. Prior platforms such as Bitcoin and other altcoins have lacked in areas such as scaling, and have coincidentally failed to stimulate substantial adoption.
MEGAX will fill these gaps, as well as present the seamless and fast transactional speed that the current Internet-bred generation requires and expects. In our efforts to build an efficiently flowing retail ecosystem, we aim to instill two key aspects. Primarily, it is of utmost importance to ensure a new and transparent ledger. Each and every transaction will be able to be seen by any MEGAX holder. In addition, we wish to encourage ownership in MEGAX, therefore allowing a monthly share of transacted volume for MEGAX users. We want our platform to be controlled solely by the entire network of millennials participating in the MEGAX movement.