I wish we could use NFC on an Apple watch. It would have saved a lot of trouble. Unfortunately the read range of NFC is too short to work on a climbing wall. The climbers wrist will sometimes be up 12+ inches away from the closest point on the wall. This was the challenge that I ran into with our first prototype.
As for moat, I think we have some patentable IP (another potential large cost to file for that patent) and because our model hinges on a relationship with the climbing gym, the big guys would have to establish a salesforce to sell into these gyms, which I think for the size of the market would not be worth it for them. If we can solidify a decent market share it would probably be more likely that they'd try to buy us out rather than fighting for those relationships, but I'm not certain about that.
As for moat, I think we have some patentable IP (another potential large cost to file for that patent) and because our model hinges on a relationship with the climbing gym, the big guys would have to establish a salesforce to sell into these gyms, which I think for the size of the market would not be worth it for them. If we can solidify a decent market share it would probably be more likely that they'd try to buy us out rather than fighting for those relationships, but I'm not certain about that.