About Us
What We Do?
Nigel Mamon | Founder of Sparqoverse
The founding objective of Sparqoverse is to create an alternative commerce platform that isn't entirely reliant on our current infrastructures.
Our non-traditional and inventive methods of creating and integrating essential systems that uphold commercial operations are what we mean by our infrastructure rails. These innovative pathways deviate from the usual models and frequently question conventional standards to tackle present-day issues like global currencies, trade obstacles, data confidentiality, inclusiveness, and a lot more. By adopting Sparqoverse’s unconventional infrastructure rails, individuals and groups can chart new courses that lessen current challenges and establish the groundwork for a future that is both flexible and fair.
We constantly inquire about how we can extend our efforts and foster a more significant influence. This endeavor commences with completely re-envisioning the potential scope of a platform and industry. Our aspiration is to exemplify that an alternative platform can expand its reach, generate profits, and contribute positively to the world, all while refraining from imposing additional costs and stringent regulations. Our journey has taught us that realizing this objective demands imaginative thinking, emphatic understanding, and continuous innovation.
Q&A With The Founder
What motivated you to build Sparqoverse?
Being an entrepreneur who introduced both a parking application and a worldwide e-commerce platform, I encountered immense dissatisfaction with the payment options at my disposal for handling transactions. Apart from the exorbitant charges they impose, I gradually comprehended the substantial influence wielded by these service providers in terms of immobilizing your funds. Devoid of any prior intimation, they possess the capability to arbitrarily suspend your deposits, a situation that can prove catastrophic for your business. Regrettably, I personally underwent such an incident of deposit freezing.
What is Sparqoverse? And, what makes it different?
Sparqoverse represents my concept of a "Marketzone." I've taken inspiration from the idea of a special economic zone (SEZ), which is a designated area with distinct business and trade regulations compared to the surrounding country. The purpose of this concept is to address the challenges of disjointed commerce by establishing a zone and expanding its online influence from local to global levels.
What sets Sparqoverse apart is its reliance on a singular payment method and digital currency. Through the implementation of a unified payment system, both members and creators of these marketzones gain enhanced control over their resources. This shift also leads to substantial cost benefits, marking a significant departure from the norm
It sounds like a complex idea. What are the important areas of Sparqoverse?
The concept is intricate due to its incorporation of three essential components that will interlink to enable the functioning of the marketzones. Initially, it's imperative to create a cohesive token (Qron) capable of conducting transactions, characterized by reliability, confidence, and worth. Subsequently, Sparqoverse needs to craft its online services, empowering marketzone creators with the necessary resources for establishing their enterprises. Lastly, the task involves enrolling members and facilitating their integration into marketzones spanning various regions.
What industries are connected to Sparqoverse?
At the moment, our primary efforts are directed towards the development of two significant sectors: Consumer and Financial. Within the consumer domain, we are involved in various areas of significance, including but not limited to e-commerce, hotel & leisure, and entertainment. Conversely, in the financial realm, our strategy revolves around furnishing members and marketzone creators with banking and payment solutions that prioritize service quality over excessive fees.
How will Sparqoverse navigate different regulations in different regions?
Prior to delving into the concept of Sparqoverse, I extensively studied the strategies employed by other startups during their initial launch to revolutionize industries. One recurring trend I observed was that these startups aimed to revolutionize the industry in a single bold move, often without adequately considering the potential adverse consequences of such a transformation. This oversight, especially concerning the displacement of jobs and disruptions in local governance, seemed to be a common occurrence. While it's natural for entrepreneurs to initially focus solely on their mission, it's imperative to also factor in the eventual repercussions that might arise.
At this early juncture, I have already invested a significant amount of time and effort into researching the regulatory frameworks and guidelines that Sparqoverse will need to navigate. My strategy involves a gradual approach, breaking the process into stages, and fostering constructive conversations with various governmental departments and officials to work towards a mutually beneficial compromise.
You talk about members and marketzone builders. What benefits do they get in building and using the Sparqoverse platform?
Let's divide my responses into two sections. Firstly, one advantage that creators within the MarketZone will encounter is the platform's dedicated focus on implementing regulations within the special zone. These regulations encompass safeguarding brands against issues like piracy, patent infringement, and trademark violations. Such regulations will notably assist consumer brands in safeguarding the products they offer. The second advantage pertains to payment processing. Being a business owner myself, I am intimately acquainted with the frustration of encountering excessive fees when managing funds. Another benefit that MarketZone creators will enjoy is the streamlined processing of regional transactions through a unified system.
Regarding members, the most apparent perk they will gain is the simplified process of engaging in peer-to-peer or business-to-peer transactions. Although the process might not appear drastically different from the current norm, users will eventually discern the distinction over time. Nonetheless, the most noteworthy aspect will be the pricing of goods and services. Thanks to the operational cost savings that MarketZone creators will accrue, there is potential for slight price reductions to be extended to consumers.
How do you plan to signup members and builders, locally and globally?
The strategy I follow is straightforward: begin by targeting market zones where there's a demand from users, and then gradually broaden the range of upselling opportunities. This approach mirrors the way I initiated GParkPass in New Jersey. The demand for budget-friendly parking spots exists among car owners residing in urban settings as well as suburban commuters who drive into busy city districts for work. I catered to both homeowners and commuters, establishing a strong foundation of monthly users through the provision of parking spaces. Subsequently, we expanded our services to encompass various other areas of interest.
What's Sparqoverse's biggest challenge at this very moment?
Like any entrepreneur embarking on a business venture, the primary hurdle lies in acquiring sufficient funding and necessary resources. Unless one has a track record of prior achievements, having successfully built and exited ventures, obtaining additional resources to fuel the mission becomes an even more formidable task. In my situation, I kickstarted Sparqoverse by utilizing the foundations of the first two businesses I established, integrating them within the Sparqoverse framework. While I could only stretch my personal resources so far, I took it upon myself to acquire basic web services skills to initiate certain aspects rather than immediately hiring external help. Despite not having a background in computer science, my expertise lies in finance and the stock market, which requires me to exercise significant patience as Sparqoverse gradually takes shape through its deliberate development process.
If Sparqoverse's resources are limited. Why not try to fund raise like other startups do?
Absolutely accurate! Many startups are enthusiastic about securing funding, even if they're merely at the ideation stage or haven't launched a Minimum Viable Product (MVP) yet. It's a positive scenario for those startups that can manage to secure early-stage funding, as it provides them with the necessary runway to refine their product. The approach varies case by case, contingent on the industry one is operating in; some industries indeed demand substantial initial capital.
From a financial perspective, fundraising becomes a full-time endeavor. This rings particularly true in my case since I lack meaningful connections within Silicon Valley or the venture capital sphere. Despite the perception that my affinity for Wall Street (stocks, IPOs, M&As) and my industry acquaintances might facilitate connections, there exists a stark contrast in priorities between Wall Street and Silicon Valley.
Additionally, I was prepared to stake a significant portion of my own resources to push this venture forward, aiming to gauge its potential without external funding but relying on organic revenues. Eventually, as momentum and growth demand accelerate, rounds of funding will be necessary. Entrepreneurs sometimes overlook the fact that seeking investment translates to relinquishing equity and a degree of control over their vision. At this stage, I'm not ready to surrender that aspect of the business, especially considering that, given the nascent stage of the concept, I might end up yielding more control. Once I perceive Sparqoverse's value to be more solid, with substantial traction and an improved bargaining position, I'll consider exploring fundraising options to propel the venture to the next tier.
If all you've envisioned for Sparqoverse works, how do you see your product will be part of people's lives?
I view Sparqoverse as more than just a mere product; it's a thriving community that people aspire to join. My vision for Sparqoverse extends beyond its digital presence or the services it provides. I am committed to creating a space that transcends the online realm, fostering a sense of belonging rooted in shared cultures and values among its members. In today's world, characterized by global diversity, conflicts, disagreements, and animosity often take center stage. Despite the enormity of the task, my aspiration for Sparqoverse is to provide an experience—achieved through your engagement with the platform—that can bridge these divides and pave the way for a more harmonious way of life.