A major downside to a thriving and growing industry
In recent times, an entire culture has emerged around the act of collecting the rarest and most expensive designer clothes, shoes and limited apparel. You have probably heard the stories about people waiting several days outside a shop in order to get their hands on the latest limited apparel drop. Because of the increasing demand for these products, a ton of secondhand trades takes place in which people buy and sell directly with one another, often at an even higher price than the retail price of the item. However, a major problem in this market is that fake copies of valuable items are being sold by fraudsters as being the real deal. When copies are created in foreign countries in an unregulated environment, it can be very difficult to distinguish between the real and the fake, especially for people who aren’t experienced in the field. There is, however, a project that goes by the name of Seal, who is creating a solution to this very problem. Seal is creating a platform for authenticity verification, which allows you to use the Seal app to check any item that has the Seal chip embedded into it. Powered by blockchain technology, records and information of a specific item is kept secure, transparent and easily tradeable while being impossible to fake, duplicate or cheat. You will never be tricked into buying a fake or stolen item again with the Seal app & network.
The benefits of Seal for brands and businesses
There are a ton of obvious benefits for consumers when they have the ability to verify an item through the Seal app, but what is in it for the brand or business? As earlier mentioned, a Seal chip has to be embedded into an item in order for it to be verifiable on the Seal network. However, there is a range of benefits that strongly outweigh the extra work of embedding the chip. One of them is something that has never been seen before, the ability for brands and businesses to earn revenue when their items are sold second hand. When people are trading an item on the Seal network and therefore transfer ownership of the item, a percentage of that transaction go directly to the brand or business behind the item. This means that a valuable pair of sneakers, can generate additional income as many times as the pair of sneakers are traded peer-to-peer after it has been bought in retail. If this wasn’t enough, brands and businesses can create an even stronger relationship with their customer, as not only authenticity can be verified, but information and ownership can also be stored and verified on the Seal network.
To fund their project, Seal is raising funds through an initial coin offering (ICO), selling their ERC20 token SEAL. These tokens are going to be the native tokens of the Seal network and will be used to carry out transactions within the Seal ecosystem, whether it be for services or items.
The main token sale is live right now as of this writing
The token sale ends the 27th of May
1 SEAL = 0.08 USD
- Maximum amount of tokens minted is 1,200,000,000 SEAL
- A total of 492,000,000 SEAL will be for sale during the ICO
- Hard cap is 492,000,000 SEAL
- Soft cap is 36,000,000 SEAL
To view the entire team, learn more about them and their advisors, visit the official website at: https://seal.network/team.html or read their whitepaper here: https://seal.network/seal-whitepaper.pdf
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.
ANN Thread: https://bitcointalk.org/index.php?topic=2929809.0
My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1855321;sa=summary
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