In March 2021, MinePlex — a new-generation mobile crypto bank — launched a product called the MinePlex Marketplace. This marketplace gives users the ability to buy products they can’t afford straight away through the simple act of Commodity Staking. Say you want to buy the latest iPhone or MacBook Pro, but it’s too expensive right now. Making a purchase through commodity staking solves that problem. In this article, we take a closer look at commodity staking, and how it solves the problem of making high-end consumer products more affordable. What is staking? In the cryptocurrency sector, staking is a way of investing in new blockchain technologies, coins, tokens and currencies. Investors agree to commit a fixed amount for a fixed period, usually when investing in a new coin or token. Crypto and blockchain startups launch these tokens through private and public token sales (e.g. an ICO), often raising millions to fund future growth roadmaps. However, unlike with crowdfunding, equity or debt-based angel and VC financing for startups, crypto investors almost always get returns for staking a percentage of the required investment. Crypto investors don’t need to wait in the hope for a startup to achieve an exit event or at least start generating a profit before getting something back for the initial and any follow-on investments. When crypto investors ‘stake’ a cryptocurrency, token, or blockchain-based startup, there are usually a ...
