Nxttycoin is the ownership mechanism for the Nxtty encrypted messaging Android app (the iPhone version is in development and should release soon). The Nxttycoin price rose in anticipation of the app’s release, but the app has failed to catch on in the Google Play store. Consequently, the Nxttycoin price has fallen almost 50% in the past month.
Nxtty struggled during its first month in the Google Play store. According to Google Play estimates, the app has between 1,000 and 5,000 downloads–quite low considering widespread desire for encrypted messaging (especially within the cryptocurrency community).
Nxtty developer Landomata acknowledged in a BitcoinTalk post that Nxtty has performed below expectations during its early days.
Our 1st month in the playstore has taught us many lessons and has forced us to take a hard look at ourselves. We have to look at our performance to see why and where we have faltered. We must also be open to criticism and change. Nxtty is great tech but our marketing to the average user is weak I accept that. Based on the numbers we are able to get and retain the crypto crowd but we are having a hard time attracting & retaining the average user…After long hours of looking at our strengths & weaknesses and talking to various marketers the general conclusion was that although one of our strength is having a crypto base another is our messaging & social platform API.
Landomata also floated the idea of launching a new app based on Nxtty.
So we would like to ask the feedback on our idea to launch another app based on Nxtty. This new app (called Sexy) requiring minimal changes to current Nxtty version will be targeted to average users as an anonymous & secure way to meet new people.
Landomata cautioned that Nxtty just wanted feedback on the idea–Sexy is not currently in development. However, the fact that Nxtty seems ready to put the current app on the back-burner in favor of a new project (albeit one based on the current crypto messenger) troubled community members (Author’s note: Landomata clarified in the article comments that Sexy would complement the Nxtty app–Nxttycoin users would have ownership of both platforms).
Meanwhile, the Nxttycoin price has been in decline for the past several months with no bottom in sight. In the past month alone, the Nxttycoin price has declined from 689 to 349 satoshis–a decline of 49%. Nxttycoin now has the 34th-highest market cap among crypto-assets with a total valuation of ~$856,000.
Do you think Nxttycoin will recover? Comment below!
Disclosure: The author downloaded the Nxtty Crypto messenger and received the 2,500 Nxtty new user bonus.
Images from Nxtty and Shutterstock
Last modified (UTC): December 2, 2014 19:54