London, UK, 6 Sep 2021, ZEXPRWIRE, Gone are the days when you had to rely on developers for development. Phenom has made it feasible for customers to influence their own growth by building a common Ecosystem on a distinct blockchain.
This is a game-changer because businesses spend a significant amount of money on product development, which is generally just one item. This lowers the return on investment since the majority of expenditures are dispersed over product maintenance and making improvements. This leads to a product failing after a year or two, and the competition gaining ground.
To stay afloat and profitable, most businesses must provide more than one product or service in order to ensure that when one product is down, the other can fill in. This helps a company maximize the lifetime value of each customer. When a firm offers more goods or services, it broadens its product Ecosystem and guarantees that the brand will endure over time.
A few businesses have built their own Ecosystems, and they are known for having a lot of advantages. Phenom recognized the need and filled it by creating an Ecosystem after completing a number of projects. The initiatives had a high demand, making sense for the firm to establish an Ecosystem.
The Phenom app, for which the firm is currently developing, will allow you to rent free smartphone resources for computing power, data, and storage in exchange for tokens. Following successful testing of the core product and refinement, the business determined to establish an Ecosystem in which its customers would have a say in their progress.
Active users are rewarded for active engagement in the Ecosystem to ensure a healthy degree of participation. The Phenom Ecosystem includes the network, chain, token, Phenom App, pay, exchange, and game. All of the initiatives are linked to one another.
The Ecosystem is built on the blockchain, which is a decentralized ledger. This implies that it may be used to connect many different devices and contribute to the system’s processing power via decentralized consensus. This network is also known as Phenom. Users improve transaction speeds and network efficiency by contributing to the network.
The PNT token is the network’s currency, which is used for all transactions. Rewards, payments, investment, and system validation are all done using tokens. The Phenom pay payment method is used for storing, transferring, and using tokens.
The Ecosystem also features the Phenom Exchange, a decentralized exchange that does not require third parties to connect buyers and sellers. Users can now trade cryptocurrency assets on favourable terms as a result of this.
The chain in the Phenom Ecosystem maintains a registry of all events in the Ecosystem but in chronological order. There is transparency to all activities because of the blockchain foundation. Thus, nobody can alter the network’s records.
The Phenom game ensures that all activities in the Ecosystem are gamified. The company’s most recent innovation is the Phenom League, an in-app gaming platform that lets users interact with one another through games. The company’s products are engaging and educational, which has made it a favourite of many people.
The company is working hard to ensure that users can enjoy different products of blockchain projects. It is already miles ahead in terms of product release, updates, and user popularity. In terms of product release, Phenom has already announced the development of the incredible Phenom Metaverse.
The Phenom Metaverse is essentially a virtual universe that is connected to the Phenom Platform Ecosystem and its goods. The Phenom Metaverse will be a futuristic method of communication. Phenom wants to link popular devices such as iOS/Android mobile phones, and smartphones via a decentralized network.
It’s a mobile app that acts as a gateway to the Phenom space station, where users can explore 3D digital environments, take part in activities and communicate with other players.
The Ecosystem has already released five items in one year, with three under beta testing. Because the Phenom network is decentralized, it has attracted a large number of individuals interested in blockchain innovation. So far, 35,000 users have joined the company from 40 countries in less than two quarters, which is a good indicator.
The primary objective of the Phenom Ecosystem is to provide consumers with successful goods that are simple to use and have a transparent technological basis. All the products in the system are linked, ensuring that users get the most out of their purchases.
Clearly then, Phenom developed an Ecosystem in which users can interact and engage with one another effectively. Furthermore, the company has a vibrant community of people dedicated to growing the Ecosystem.
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