Craigslist & Facebook Marketplace Protection | nymbull

Streamlining Peer-to-Peer Sales with Remote Locking Technology

Engaging in transactions on online marketplaces such as Craigslist and Facebook Marketplace frequently necessitates arranging a meeting with a stranger for the exchange of goods and payment.

Considering the substantial user base of Facebook Marketplace – exceeding 1 billion monthly active users – Nymbull’s founder, Jackson Wegelin, posits that such direct encounters are unnecessary for person-to-person commerce. He estimates the typical sale duration, factoring in buyer interactions and instances of no-shows, extends to approximately one week.

Introducing Nymbull: A New Approach to Online Transactions

Nymbull, a company showcased at TechCrunch Disrupt’s Startup Alley, endeavors to mitigate these inconveniences and reduce the average sale completion time to just two or three days. This is achieved through a patented remote lock and accompanying sales platform, allowing sellers to list items on the Nymbull website and then share the listing link across their preferred marketplace.

The core concept is summarized as “lock it, list it, leave it.” Sellers acquire a specialized lock – resembling a bicycle lock – to secure items for sale at a location of their choosing, enabling potential buyers to inspect the goods. Upon buyer satisfaction, payment is processed via the Nymbull website, releasing the unlock code.

Secure Payments and Transaction Protection

The company utilizes Stripe for payment processing and provides chargeback protection for both the buyer and the seller, ensuring a secure transaction environment.

“Marketplaces have undergone significant development,” Wegelin observes. “Lockers are now commonly employed by pizza delivery services, for key exchanges in Airbnb rentals, and as Amazon pick-up points. This trend gained momentum with the onset of COVID-19, as individuals sought contactless transaction methods and prioritized social distancing.”

The Genesis of Nymbull

Wegelin’s inspiration for Nymbull arose in 2016 when he sought to sell a grill. Residing on a bustling street, he envisioned listing the grill and securing it to a tree, allowing potential buyers to examine it. However, his search for suitable remote locks proved unsuccessful.

From Concept to Patented Technology

As a prolific inventor – holding 70 U.S. patents as an electrical and mechanical engineer – Wegelin embarked on developing his own solution. A year later, he initiated the patent filing process for the Nymbull lock, ultimately securing four issued patents.

Current Status and Future Plans

Based in Ohio, Wegelin currently possesses 500 locks and is conducting trials on Nymbull’s website, with a full launch anticipated shortly. While pricing details are still being finalized, the company plans to implement a subscription model for sellers, with buyers paying a nominal fee per transaction.

Flexible Holding Options

Sellers will have the option to temporarily reserve items for a specified duration, with the ability to extend the holding period for a small fee, granting buyers additional time to make a decision. Buyers requiring extended evaluation periods can request a one- or two-day hold for a minimal charge.

Creative Applications and User Feedback

During testing, Wegelin frequently received inquiries regarding the application of the locking system to items of clothing. He experimented with methods such as threading the lock through sleeves and utilizing a hanger suspended from an over-the-door hook. Some sellers have also devised innovative solutions, like drilling holes in plastic containers to enable locking to fences.

Nymbull’s Vision for the Future

Wegelin’s ultimate goal is to establish Nymbull as a trusted intermediary between buyers and sellers, facilitating secure transactions without requiring direct interaction whenever possible.

“The lock fosters trust and allows buyers to verify the condition of the item before purchase,” he emphasizes. “There are numerous potential applications for this technology, including food pick-up, medication delivery, and unattended package retrieval.”