Fees on online marketplaces
One of the significant downsides of doing business through big online marketplaces like eBay, Amazon or even Aliexpress, is the enormous fees sellers have to pay the platform. Depending on different factors, sellers can end up paying up to 30% fees when utilizing these options. Hamster Marketplace aims to change of all of that, they are creating a decentralized marketplace focused on buying and selling electronic gadgets. By using the Emercoin blockchain technology, buyers and sellers will be connected directly to each other, transactions will be stored on the public ledger and fees will be 0%. The Hamster Marketplace will be using their own ERC20 token HMT as the medium of exchange on the platform. Here is a list created by the hamster marketplace project of comparisons between the Hamster Marketplace and other popular online marketplaces.
The industry of eCommerce & Hamster Marketplace
As the world became more and more digitalized, so did the way consumers purchase goods. The global retail E-commerce market made around 2.3 trillion dollars in sale in 2017, a number that is expected to reach 4.1 trillion dollars by 2020. Today almost everything can be bought online, even fresh groceries. Online retail has proven itself to be the store of the future, a Hamster Marketplace has built on. Not only are they creating a product around the future of retail, but they are also using blockchain technology and cryptocurrencies which many experts believe to be an intervention just a big as the internet. Hamster Marketplace also aims to create an ecosystem where users of the platform are able to connect with manufacturers and verify the quality of their products before doing business with them. The Hamster Marketplace has already created a token buyback system to potentially increase the value of HMT tokens when they go live on exchanges.
To fund their project, Hamster Marketplace is raising funds through an initial coin offering (ICO), selling their ERC20 token HMT. This token will act as the medium of exchange on the Hamster Marketplace platform. As it is an ERC20, new features could potentially be built into the token and marketplace if needed.
The token sale starts February of 2018 and is run until all tokens are sold or the team ends the token sale
1 HMT = 2 USD (Bonuses apply to different phases)
- Total amount of tokens issued is 10.000.000 HMT
- A maximum 7.000.000 HMT will be available for purchase during the token sale
- Hard cap is 14.000.000 US dollars
- Soft cap is 2.000.000 US dollars
All unsold tokens will be burned/destroyed
These are just some of the people behind the Hamster Marketplace project, to view their entire team, their advisors or learn more about each member, you can visit their website: https://hmstr.io/ or read their whitepaper here: https://hmstr.io/files/hamster_ico_wp_eng_final.pdf
The Hamster Marketplace project began back in 2017 and has made a plan for what they need to accomplish by when. Very noticeable is the fact that they strive to have at least 1900 vendors by Q3 of 2019, which means they are very determined to build a huge user base for this platform as fast as possible. Beta version of the platform is expected to launch in Q3 of 2018.
Here is a video made by the team, presenting the vision behind the entire project
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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