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As cryptocurrency experiences a new wave of widespread adoption, we have noticed a new trend taking hold - retail solutions. Blockchain technology presents previously unexplored possibilities in the retail space, just like it does in other sectors, and one of our top picks to capitalize on this retail revolution is a trading platform called Digital Dollar Store ($DDS).
Shopping has been a hugely successful business and in 2020, the total global retail sales reached $23.36 trillion. However, the true retail experience has changed dramatically since just a generation before. Earlier people used to walk into a shop or in case they wanted to stretch their limits, then they would buy from a mail-order catalog. Recently, technological advancements in all industries, mainly the retail industry, have created a brand new world of possibilities.
What is Digital Dollar Store?
Launched on February 13th, 2021, the Digital Dollar Store (DDS) is a futuristic platform that will enable modern-day shoppers to spend their cryptocurrencies and make purchases via prime e-commerce platforms.
Consumers can shop online on the Digital Dollar Store platform using their cryptocurrencies and purchase products from major e-commerce platforms. DDS acts as a link between the digital world of crypto and the real-world of the consumers. This enables a seamless shopping experience for consumers using digital assets. Furthermore, consumers aren’t even required to create a separate account on these commercial websites to shop online.
Why is it Different?
$DDS has three use cases built into its system which is currently on TestNet:
Unified Marketplace
Peer-to-Peer (P2P) Marketplace
Non-Fungible Token (NFT) Marketplace
The Digital Dollar Store is the first platform to support a unified e-commerce marketplace, an NFT marketplace, and a P2P marketplace in one place, essentially creating a one-stop trading platform.
The unified marketplace, as the name suggests, is how DDS creates a bridge between the digital world of crypto and the real-world of the consumers. Essentially offering a unified, secure marketplace where crypto is king.
The P2P marketplace is how DDS will create a fully realised trading center on-platform, allowing direct transactions to take place between one party and another. Lets let that sink in for a minute….excited yet? If you’re still on the fence, here are some of the benefits of a P2P blockchain marketplace:
Practical: For a vendor, it’s extremely easy to set up an online store and not spend on renting or related expenses. Even artists are at an advantage as they can put their artwork on sale for as long as someone purchases it.
More options: This approach creates an opportunity for hundreds and thousands of vendors to sell their products and buyers get plenty of options to choose from in one place. Additionally, it’s convenient to sell and buy products from anywhere in the world.
High profit: Since there’s no middle man involved, the vendor gets to choose how much he would want to sell his products for while keeping the price cost-efficient and still make a good profit.
Cost-effective: As buyers are directly connected with the vendors, they don’t end up paying an insignificant amount of fees in commission.
If all of that wasn’t enough, DDS will also release an NFT feature. NFT is very hot right now, and is how cryptocurrencies are linked to real-world objects for shared value application: Non-fungible tokens (NFTs), also known as ‘nifties’, are the digital portrayal of scarce assets. These are distinctive in nature, with diverse properties that can be discerned from each other. For example, a plane ticket is a nonfungible asset. Plane tickets might look similar to other tickets but each store information of different passenger names, seat numbers, destinations, and departure times. Such characteristics make the NFTs irreplaceable and even impossible to swap.
So how does this work within the DDS platform? Simple - you will be able to trade them on-platform. This is the next natural progression for NFT’s, and one we are very excited to see!
When Is It Released?
The token launched on February 13th, 2021 so we are still early on this one.The platform is currently available in TestNet and is on-track to release in a number of days.
Here’s a little snippet of what they have coming soon:
Further audits
Mainnet
NFT marketplace
E-commerce marketplace
P2P marketplace
Marketing(not even started)
BSC bridge
How Does the Chart Look?
Honestly, it’s one of the most bullish looking charts I’ve recently set eyes upon. Check it out:
$DDS hit a high of just over $7, and has been consolidating until now. If you look to where we currently are, $DDS broke out from the descending wedge confirming the end of the consolidation period, and indicating it is ready for the next leg up now. Notice how, after breaking out, it returned to test the wedge and bounced up again creating the most recent green candles? This is an incredibly bullish signal. I would be expecting huge upside from here, especially considering platform launch is days away, along with multiple audits, BSC bridge and all the other features I’ve mentioned in this article.
If you are interested in the RSI and MACD, notice how the MACD crossed to break the wedge - bullish. RSI is at 60 (anything over around 45 is bullish). I personally am making an entry here now that the breakout is confirmed.
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This is not financial advice, but is the opinion of the author, please do your own research before making any financial investment.
CeltyCrypto
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