Subscriptions are becoming the most popular payment model in the digital world and even the biggest companies are changing their business model (like Photoshop). Subme.Cash has a plan to change the way the subscription economy works.
Sumbe is a project combining the world of cryptocurrencies and the thriving subscription economy that wants to change the way we approach the e-commerce market. Subme aims to make it easier to manage subscriptions like Spotify or Netflix from a single app and apply the subscription model to selling physical or financial products. The project has already raised over $1.5 M in private sales and the first public sale, and on July 29th the final round of SUB token sales begins. To participate, sign up for the whitelist on the Subme.Cash website.
The Cryptonomist had the opportunity to talk to the founder, Adam Larsson, about the future of the crypto industry and the subscription market.
Adam Larsson is a serial entrepreneur, originator of Subme. AsCEO of Workeo he sourced top talent for leading IT & Blockchain companies. CEO of Explorey S.A., an e-commerce management company with unique products.
The idea behind of the project
Hi Adam! Can you tell us more about how the idea of Subme was made?
Adam Larsson (AD): Subme.Cash was born out of the frustration that many of us probably feel when trying to unsubscribe from SaaS products. In my case, the problem was cancelling my Tidal (music streaming) service. The process is not easy, and by confirming the termination of the subscription, we are taken to a survey, the completion of which means that we want to return to subscribing to the platform. It’s terribly complicated. Our lives would be much easier if we had one app where we could manage all our subscriptions in one place.
On the other hand, Subme came about because while running my companies Kavaha and Workeo where I have learned the value of the subscription market. In addition to the convenience of the consumer getting the product they need on an ongoing basis, subscriptions are highly desirable from the manufacturer or retailer side. They allow you to plan future investments and estimate future revenue because they are governed by different laws than a one-time purchase. We would like to revolutionize the subscription market by offering people the opportunity to subscribe not only to SaaS products but also to physical or investment products.
What products will you be able to subscribe to on the Subme platform?
AL: Subme in the long term wants to offer the ability to subscribe to almost any product or basket of products that we buy on a recurring basis. The first products on the platform will be from the food industry (especially superfoods), and then we will open up to the fitness industry, cosmetics, books and introduce influencer baskets. The next step will be to introduce the possibility of investing in the subscription model – as it is widely known, one of the best ways to invest in Bitcoin is the Dollar Cost Average strategy. It is difficult for the user because it requires regularity – we want to change that.
What are influencer baskets?
AD: Influencer baskets are a set of products selected by a person or organization (e.g. a football club) that we can order for ourselves or for a gift. For example, dietary supplements used by Anna Lewandowska, or fan kits selected by a football club.
The crypto world and the subscriptions
You have an interesting business model, however, how does it all add up with crypto?
AD: The crypto world offers many opportunities that are related to the freedom of capital and the world-changing nature of this industry. By partnering with the biggest cantor in Central Europe Bitcan, we will be able to offer subscription sales for crypto. The Subme Cash ($SUB) token will be integrated into the platform and allow exposure to the company’s profits – at the end of each quarter, 5% of the company’s revenue will be dedicated to buying from the market and burning SUB tokens. This way $SUB will be a deflationary token.
All members of our team have been involved in the crypto market for years, not only as investors. Bartek Bilicki as a blockchain developer worked with many well known crypto projects and created trinity.io. Michał Adamski, was part of BeInCrypto and worked with GamerHash, DIA or BlockStamp.
Will Subme users have to undergo KYC?
AL: By partnering with Bitcan, we will be able to provide the platform without having to verify ourselves in most cases. Of course, there are a lot of restrictions here, but the crypto/fiat transactions are going to be made between crypto exchange and Subme, not individual and the retailer, making the whole process easier.
How will the project be affected by the bear market, which caused many altcoins to fall to the bottom within the last few weeks?
The project itself and the fulfillment of tasks from the roadmap are fortunately not affected by the market, although of course it’s nicer to work during the bull market. Subme is an idea based on real business and as such does not have to worry about price fluctuations. The same is true for investors in Subme Cash – they get long-term exposure to the profits of Subme, which will buy $SUB tokens from the market.
In my prediction, the crypto hype will return after the vacations – although unfortunately it may be related to the next waves of COVID-19 and reckless actions of central banks and governments.
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