NXT-ID (NXTD) – Upcoming Release of Wocket(TM) Taps Into Ramping Demand for Digital Wallets and Currencies
SoundView Technology Group: New research note points to recent industry developments as important drivers to adoption of the upcoming NXT-ID (OTCQB: NXTD) Wocket.
Over 7 million consumers have watched a marketing video for a new digital wallet with a very limited feature set. Consumer interest in this product area is high and accelerating.
The commercial development of new digital currencies like Bitcoin has continued despite extreme price volatility. Industry leaders from companies like PayPal have acknowledged the value and viability of the new currency. At the same time mainstream venture capital firms like Andreesen Horowitz have stepped up their efforts to find “major bets” to make in this new market.
These industry developments increase our confidence and enthusiasm for the NXT-ID (NXTD) Wocket™ both as a digital wallet and a potential secure storage option for Bitcoins. As we outline in our note, the Wocket has a much more robust design in terms of security and usability.
We see the following as key advantages for the NXT-ID Wocket:
Security: Using a secure chip the Wocket can store 100s of cards and digital records. Authentication is multi-factor and includes biometrics. Cards go into the Wocket directly without involving unsecure intermediate steps.
Usability: The Wocket includes an ultra-lower power touchscreen display in addition to the dynamic magnetic stripe as both a UI and QR-code mechanism. A combination of power management, in-wallet charging and standard battery means that consumers won’t have to fear a “dead wallet.”
Flexibility: Rather than being tied to a phone or platform the Wocket can be paired with any device either locally or in the cloud when secure protocols are available. This dynamic pairing is a key feature of the NXT-ID approach and is a powerful and highly differentiated aspect of their technology.
NXT-ID is an early stage technology company going after a large market. Based on initial traction and a conservative intrinsic valuation (IV) model show a fair value of $11/share we see the company continuing to benefit from intensive investor attention to this space.
Our full report is available for download here: http://s3.amazonaws.com/Published_Research/NXT-ID_NXTD_NOTE_DEC_2013.pdf
About SoundView Technology Group:
We are an independent advisory and research firm specializing in emerging technologies as they reach commercialization. Our proprietary research and modeling work provides valuable information for company management teams and investors in these emerging opportunities. We regularly publish our findings across a variety of channels including all the major retail and institutional information outlets. SoundView is based in Boston, Massachusetts with locations in New York and Connecticut.
About NXT- ID Inc. – Mobile Security for a Mobile World:
NXT-ID Inc.’s (OTCQB: NXTD) innovative MobileBio™ solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers’ mobile platforms. NXT-ID’s wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/ , http://3d-id.net/
Visit the company website at: http://nxt-id.com/
Stay tuned for further announcements about the WOCKET at the company website at: http://thewocket.com/