gBuy lets shoppers choose what they want to pay, then automatically purchases the item with their gold or silver when that price becomes possible
By Julius Ewudo, Cyber Era NG ASEAN Region Representative
What if you could choose the price you want to pay for your next TV, appliance or gift, then let your gold or silver do the waiting for you?
An Australian Bullion Utility Network, Liquid Noble has launched gBuy, which it describes as the world’s first bullion-powered shopping system of its kind. Customers find a product, choose the maximum price they are happy to pay and place an order using gold or silver in their Liquid Noble account. When the value of the reserved metal makes the purchase possible, gBuy places the order automatically.
Shoppers can also choose a price that allows an immediate purchase. But for someone willing to wait, gBuy offers a new way to put the changing value of their precious metals to work.
Consider a 65-inch 4K TV priced at about AU$1,055 today. At an illustrative gold price of AU$193.50 per gram, buying it immediately would take about 5.5 grams. A shopper willing to wait could instead buy about 4.9 grams for roughly AU$950 and place a gBuy order. That gold is reserved for the order while gBuy monitors the price.
When the reserved gold can cover the TV at the shopper’s chosen price, gBuy completes the purchase automatically. If gold reaches about AU$215 per gram and the TV still costs AU$1,055 at that point, that works out to approximately AU$105 less than buying it today. There is no need to keep checking gold prices, retailer prices or stock: gBuy monitors those conditions and acts when they line up.
“Gold has traditionally been something people buy and put away. We built gBuy so it can help them get something they actually want,” said founder and CEO of Liquid Noble Dan Dragon.
“You decide what a product is worth to you. If you’re happy to wait, gBuy watches for the opportunity and takes care of the purchase when your price becomes possible.”
gBuy is live in the Liquid Noble app, with products and services including electronics, appliances, books, clothing and gift cards. Thousands of eligible products offer free local delivery in Australia and the EU. Customers can cancel a pending order at any time, with no charge while they wait.
Australians can sign up and explore gBuy straight away. To place an order, they need to complete a short identity check.
