Celebrating Upstream’s rapid growth in user acquisition since November and the significance of more than 5k unique Upstream wallets
By Fernanda De La Torre
Upstream has recently reached a significant milestone of 5,000 users and counting that have joined our trading community!
This achievement comes at an exciting time for Upstream, a MERJ Exchange market, which has made great progress in recent months. Since the beginning of the year, we’ve welcomed three dual listing issuers — Nutriband (Upstream: NTRB), Jupiter Wellness (Upstream: JUPW), and Creatd (Upstream: CRTD) — to our blockchain-powered market. This is only the beginning. Upstream is maintaining a strong pipeline of dual listing applicants from Nasdaq, NYSE, CSE, and other markets from around the world which supports our mission to bring global access to public securities.
As a Web3 market, Upstream issuers are also taking advantage of our digital coupon NFT strategy to turn shareholders into customers and customers into shareholders. Issuers may launch digital coupons to their shareholders to reward them, drive buzz towards initiatives, and bring new potential customers in.
As the only regulated market for creating and selling NFTs to a global community, Upstream’s NFT market has also played a role in building our trading hub. We’ve worked with musicians, athletes, universities and our issuers to successfully launch more than 55 NFT campaigns, with 301,635 live NFTs on Upstream’s NFT market as of March. These NFT campaigns showed off Upstream’s unique methodology to make NFTs accessible, utility-focused, and low cost for the masses. We powered campaigns launching ticket NFTs, NFTs that enabled fans to redeem for physical merchandise and experiences and are actively working on larger NFT/Web3 strategies to continue ushering in the new wave of digital collectibles.
Significance of 5k unique Upstream wallets (a blockchain-perspective)
The level of transparency provided by Upstream’s blockchain-powered markets is a key benefit. Upstream is proud that our 5,000 users represent 5,000 unique Upstream wallets.
In addition to enforcing transparency with direct access to Upstream’s market, real-time trading using on-chain orderbooks, another prevented predatory market practice enforced by blockchain technology is wash trading.
Wash trading is an illegal practice where investors buy and sell the same financial instruments at the same time in order to manipulate the market.
Dune Analytics research suggested that over $30B on the NFT trading volume on Ethereum in 2022 was wash trading¹, meaning a wallet address selling an NFT was the same wallet address buying the NFT, or same wallet owner.
Upstream and the 4M lines of code backing it has sophisticated back-office wash trading protection.
When users download Upstream and enter a password, an Upstream wallet with a unique keystore is created for traders to hold and protect their digital assets on their smart device. When a user wishes to withdraw funds from their Upstream account, a user must complete a short KYC check to verify their identity. Funds are also only ever able to go to the bank account a user has entered during KYC, which protects both the user and the community from bad actors attempting to transact with multiple wallets.
We’re thrilled with the progress we’ve made in recent months; with the addition of three dual listing issuers and successful NFT campaigns, we’ve reached our 5k user milestone. We’re excited to continue our goal of welcoming the future of trading.
Upstream is actively accepting dual-listing applications from NASDAQ, NYSE, OTC Markets & international issuers that are seeking to offer their shares to a modern-day investor pool that accepts USDC cryptocurrency and traditional payments. Learn more at: https://upstream.exchange/GetListed or reach the team at firstname.lastname@example.org.
For our growing investor community, we are just getting started on introducing unique issuers to the platform to browse. Download today at https://upstream.exchange.
This communication shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted.
Commemorative NFTs are for utility, collection, and display only.
Redeemable NFTs and Commemorative NFTs are not securities and may be bought and sold globally, including by U.S. and Canadian persons.
U.S. and Canadian persons are not permitted to purchase Upstream-listed securities but are permitted to sell securities they currently own, that have been listed on Upstream, for liquidation purposes only.
If funding Upstream with an ACH or wire bank payment, users must complete Upstream’s in-app KYC process to get their new, FDIC-insured, Upstream U.S. bank account details via email. Users may then initiate a funds-transfer from their bank or financial institution to this new U.S. Dollar bank account. If you haven’t completed KYC yet or didn’t select ‘Bank’ as the ‘Deposit From’ option when you completed the process initially, then please go through KYC again selecting the ‘Bank’ payment method. Users may complete the simple KYC process by tapping the settings icon and the KYC option inside the Upstream app.
This communication contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) difficulties in obtaining financing on commercially reasonable terms; (ii) changes in the size and nature of our competition; (iii) loss of one or more key executives or brand ambassadors; and (iv) changes in legal or regulatory requirements in the markets in which we operate. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.