Many, if not the overwhelming majority of crypto projects rely on the promise of something.

Whether they ask you to believe in a mainnet years away or an untested concept, crypto projects today reflect crypto’s “early days” status in selling the future rather than the present. The revolution is coming, but just isn’t here quite yet.

That’s certainly understandable. But it’s nonetheless refreshing to see a team launching with substance already in hand.

With Coinbates, that substance is particularly impressive.

Coinbates logo

It includes: a usable product and a long list of blue chip integrations.

Combine the team’s accomplishments with a prescient choice in field and you have a project ready to rocket.

Coinbates targets a field, ecommerce, widely seen as having a bright economic future. It then brings to that field a mature and well-executed product.

Crypto’s future, and, to be frank, its profitability for investors, depends on increased mainstream adoption.

Key among its hurdles is the preexisting need for some level of technological competence for adoption and many non-crypto people’s aversion to the riskiness of crypto. Coinbates aims to be the bridge to mass adoption and seems remarkably well positioned to succeed.

For those new to the project, a brief introduction.

From Coinbates launch website

Coinbates is an ecommerce rebates platform giving shoppers rebates in their preferred cryptocurrency (also known as crypto cashback) for the shopping they were going to do anyway.

Let’s break that down. Ecommerce is the future of shopping, a future that is already here. In 2017, Americans spent $453 billion retail shopping online, a whopping 16% more than the year before.

Tapping into this market is genius. Not only is ecommerce an incredibly large (and growing) market, but its demographics are spot on for crypto. Already somewhat tech savvy shoppers are exactly those likely to embrace (and also able to adopt) crypto’s internet of things vision. Coinbates’ targeting of the demographic of least resistance is a point in its favor.

Speaking of demographics, consider how big of an opportunity female-heavy ecommerce is. Crypto projects largely compete in a crowded field of those already in the crypto space, that is to say, men. Data from Google has crypto at an astonishing 96.57% of male participants. Projects which can tap into the other half open a whole new and near uncontested user base.

Let’s review. A large and continually growing field (ecommerce). A group of users with the technological predisposition to embrace crypto. A demographic which Coinbates can target with little competition but one with astonishing adoption potential. All in all? Bulls eye.

Consider what the team has already done.

The brands in the Coinbates merchant catalog span the entire blue chip array:

Macy’s

Microsoft

Sephora

Calvin Klein

DKNY

Bloomingdale’s

Canon

GNC

H&M

Asics

And more

Moreover, a working product is live today for shoppers to shop and get their first taste of the promising marriage between ecommerce and crypto. All this, before asking the crypto market for a dime. That takes something special.

Imagine the emails, the meetings, the always present “snags” the team went through to secure that enviable list of merchants for launch. Combine that with the honest and confidence approach in having a ready product before seeking financing. The resulting picture is a team that has well proven its willingness and ability to execute.

Let’s review again. Coinbates targets a large and fast rising ecommerce field with promising demographics where they will have little crypto competition.

To succeed in that field, the team has demonstrated their commitment to execution with both product and business development.

Now let’s add one more piece of the puzzle. A couple of years ago, leading (non-crypto) ecommerce cashback retailer Ebates was sold for $1 billion. $1 billion.

Coinbates’ sought initial valuation of its token (called BATES) is $20 million. It’s almost a trope at this point how projects cite a market with a big number, point out how small their valuation is, then ask people to just imagine how much they could be worth if their token was used by just X% of that big market. My job is to investigate what they’re not saying — the actual chance they can get to X%.

The rub with Coinbates’s token is it might already be worth the set valuation. That is, there is no need to bake in growth potential for BATES to be worth $20 million. Its merchant list and existing product are pretty much already there. Any growth is gravy. Or in an investor’s case, pure profit.

But at the end of the day, you’ve got do your own research and make your own decision.

And Coinbates makes that easy.

Click here to head over to their launch website and register for their beta and take a test drive of their crypto cashback shopping product for yourself. (no ref link)

Disclaimer: I own a small position in BATES tokens. I plan to hold these long term (6 months to 1 year). The preceding is my sincere opinion, I have not been paid to write this article. There are no referral links in this article. Do not refer to my writings as financial advice, do your own research and make your own decisions.