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How the Marketplace Works
You’ll notice that each product in the Marketplace is priced in Navigate points. Today, the exchange rate is fixed to where 1 USD is equal to 6 points. With 600 points, you can redeem $100 USD in gift cards. This fixed exchange rate will eventually transition into a floating exchange rate following our public token listing (which will be at a later date). At that time, the market will determine what 1 NVG8 token is worth, and this will ultimately dictate how many NVG8 tokens you need to redeem certain gift card values. Be sure to connect with us to stay tuned for more information on our public listing!
At Navigate, we take security and compliance very seriously. That’s why we have chosen to limit redemptions in Navigate Marketplace to only those who earn Navigate points through Navigate Maps contributions. Since NVG8 tokens have not yet been listed publicly, currently, the only way to obtain Navigate rewards is via contributions. However, even following our public listing, only Navigate contributors will be able to redeem gift cards or other rewards in the Navigate Marketplace. In other words, to gain access to gift cards in the Marketplace, you must first contribute to Navigate Maps! This design is intentional as the Navigate Marketplace is built to provide utility to platform contributors, while also preventing individuals from solely buying NVG8 tokens on the open market to redeem gift cards.