Ghost Reporter: Today, we're delighted to have the Business Development Team for an in-depth interview. Kicking off the questions, being a newly conceived team, what do you plan to achieve?

Biz Dev Team: Our main objective is to build and nurture relationships that will bring value to our project and holders.

Ghost Reporter: Everyone loves value! So how is the team structured?

Biz Dev Team: We have a flat hierarchy, so it's easier to bounce ideas off each other. We’re currently looking for opportunities in various product categories for the Greymarket and working out the best way to connect with suitable merchants.

Ghost Reporter: Aside from finding Greymarket partners, what else is the team working on?

Biz Dev Team: We’re also actively looking for location partners to host real-life activations where we can meet our community and introduce The Phantom Network to new audiences.

Ghost Reporter: I’m looking forward to some fantastic meet-ups! What’s a typical day like for the team?

Biz Dev Team: We meet about three times weekly to provide updates and brainstorm new ways to onboard more partners. When not in meetings, we’re constantly reaching out to web2 merchants and web3 projects as well. Cold outreach is time-consuming as we need to wait for responses (often getting ghosted), and it’s challenging to onboard suitable partners who see the potential of our platform.

Ghost Reporter: Onboarding new partners is no easy feat. What do you feel is PxN’s value-add to web2 businesses, and how will onboarding them benefit our holders?

Biz Dev Team: The PxN platform will be usable by anyone around the world who owns crypto. This means our web2 partners will have access to a new large consumer base.

Our platform also facilitates transparency, mitigates default risk, and reduces friction between buyers and sellers through token-gated verification. Users will also enjoy cost savings on purchases as all transactions will run on our bespoke layer two blockchain, which has very low fees.

Currently, Ethereum will be the currency of exchange, while $PXN tokens are required for transactions on our platform. Holders will benefit from a vibrant marketplace because there will be demand for $PXN tokens generated only by the Ghost NFTs.

Ghost Reporter: Why do you think the Greymarket is essential for web3?

Biz Dev Team: Online marketplaces and shops that accept crypto payments are pretty obscure and not easily searchable on search engines.

One of the ways to spend your crypto is through credit cards from crypto exchanges like Crypto.com and Binance. However, you need to reveal your personal information through a process called Know-Your-Customers (KYC) before you're eligible for one.

Many countries have little to no access to crypto credit cards. Even when they do, heavy restrictions are imposed on owning one, such as having an expenditure limit.

Most merchants and payment gateways do not accept crypto credit cards, depending on their country of issuance. For business owners, this means they can't use crypto cards for business operation costs.

With the Greymarket, we hope to solve the current commerce challenges in web3.

Ghost Reporter: This brings me to the next question. How would the Grey Market benefit merchants, and why should they list their wares on our platform?

Biz Dev Team: The cryptosphere is booming, and many people on the sidelines, including merchants and resellers, feel it would be nice to diversify into crypto but never did due to the complexity of getting into the web3 space.

Listing on the Greymarket creates an additional revenue stream for these businesses while allowing them to diversify their assets into crypto without much risk.

Ghost Reporter: Thank you for the detailed explanation. The last question is from the community. Are there any ways the community can help in finding and recommending partnerships?

Biz Dev Team: If anyone in the community has business contacts or products to recommend, we welcome them to reach out to us. We’ll consider the viability of the recommendations so don’t be disheartened if we’re unable to onboard your suggestions.

As much as we want to have as many merchants as possible on the Greymarket, not all recommendations will be suitable for the platform. We seek the community’s understanding of this.

Ghost Reporter: That was a great insight into how PxN is innovating in web3. Thank you for taking the time to give us a peek into what the Biz Dev Team is doing!

Biz Dev Team: It’s our pleasure. We hope to bring in as many partners so we can start shopping on the Greymarket!