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The Hamster Marketplace is a London-based project looking to change the world by being the first mainstream blockchain based marketplace. Focused “on selling unique gadgets from manufactures, including startups and local projects,” the marketplace is seeks $28,000,000 in funding through ICO sale of 14,000,000 HMT tokens, which will be based on the Emercoin blockchain.
Participants of the ICO will be able to use HMT tokens to get discounts on items offered by vendors on the marketplace, early access to testing of the platform, as well as buyback of tokens at a later date.
The other 6,000,000 tokens (20,000,000 in total) will be split between Bounty rewards (2.5%) and team, founders, project advisors, and early investors (27.5%) with the rest (70%) going towards the ICO.
Looking to compete in a sector dominated by online giants like Amazon, Ebay, and Alibaba, Hamster Marketplace looks to level the playing field. More money is moving online; Walmart and Targets combined capitalization of around $270 billion pales in comparison to Alibaba’s of nearly $400 billion, with Amazon worth even more at $470 billion, according to NASDAQ.
Retailers with larger marketing budgets, more sales, and more product diversification tend to have more favorable placings then startups or sole entrepreneurs where they are handling this responsibility or have lesser manpower.
Hamster Marketplace’s focus on specialized electronics and emphasis on the “bottom of the ladder” should bring forth new technology advances and discoveries, something that will benefit the consumer market in the long run. Not only will customers be able to purchase new and innovative gadgets, but smaller vendors will have access to a customer base they’ve never been able to reach.
The blockchain’s ability to harness big data in an efficient, immutable, and transparent matter allows for the removal of intermediaries, connecting manufacturers directly to customers. With this possibility Hamster Marketplace will be able to charge significantly lower fees than what’s possible through ordinary means, passing the savings onto the customer. Due to the streamlined process, deliveries will be faster than typically normal in the past.
Other features that the Hamster Marketplace will offer for customers include things like verified reviews, transparent quality control, price parsing to allow customers to find the cheapest offering of a product, as well as verification of manufactures in terms of product quality and production capabilities.
The ICO is expected to be announced during the last week of November, with launch of the marketplace to follow briefly. The first three quarters of 2018 will be devoted to the development of an alpha version as well as recruitment of vendors, with a public beta set to launch in the last quarter of 2018.
Hamster Marketplace targets to reach 3500 Vendors and 3.8 million customers, with work on the decentralization systems, in order to finally let the platform be completely controlled by vendors in 2020.
Hamster Marketplace is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.