Nucleus Vision’s CEO, Abhishek Pitti, has posted a quick succession of responses via their official Medium blog to a string of tweets shared through the Nucleus Vision subreddit.
Accusations have been made against Nucleus Vision (NCASH) in regards to their advertised list of retail partnerships. Primary points of contention were the implied agreements with global lifestyle brand Nautica and designer sportswear mainstay Tommy Hilfiger.
Alleged screenshots were shared that seemed to show that many of the brands who appeared in Nucleus Vision advertising were unaware of any partnerships formed with India’s premier cryptocurrency.
The CEO’s first response provided the explanation that the promoted partnerships were in fact with retailers and franchisees of those global brands, primarily brick-and-mortar shops that stock their products, not the brands themselves, and that this was obviously a source of confusion.
Considering such retailers to be the primary target market of the Nucleus Vision platform, this may be understandable. A quote from their website reads:
Nucleus Vision is an end-to-end technology solution that captures and provides previously inaccessible data to retailers and other ‘brick-and-mortar’ businesses through its proprietary blockchain and real-time sensor technology.”
A second blog posted a day later outlined a four-stage operation to combat the allegations and prevent further confusion, including investigating legal opinions on possible action to take against those who, they claim, spread rumours with intent to abuse the market.
The Nucleus Vision website has also been updated to reflect the state of all partnerships with a declared intent to clarify all business between retail partners and their global head offices before further advertising is conducted.
The public crowdsale of their ICO, planned for early 2018, was cancelled after the proposed US40mln hard-cap was reached with funding received from a long list of notable blockchain investment firms, including Alphabit Digital Currency Fund, Kenetic Capital, FBG Capital, BlockAsset and Turiya Ventures. The hard-cap was also lowered by US20mln after Ethereum’s massive price-rise at the end of 2017.
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