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Blockchain retail platform Hamster Marketplace, after receiving $600,000 in private investments, will be launching a presale December 11th, that will run until the 31st.
Funds generated during the Token Generation Event, which can be bought with 10 different cryptocurrencies, including Bitcoin, Litecoin, and DASH.
The model of the blockchain platform Hamster Marketplace is developing allows retail to become democratic, providing retailers the ability to sell their products to millions of customers on a global scale, thanks to the Emercoin open blockchain voting system.
In the beginning, Hamster Marketplace will be geared towards investors, producers of niche electronics, as well as consumers looking to buy said products.
Multiple advantages compared to Amazon, Aliexpress, and eBay exist, with one of the most significant being that Hamster Marketplace will have a 0% commission, compared to Amazon’s 30%, AliExpress 8% with an additional annual fee, or eBay’s 20% with PayPal.
Other things the Hamster Marketplace has over the main giants in this space are verified reviews linked to the blockchain, enforcement of intellectual property which will prevent cheap imitations of products being sold, and the decentralized nature of the platform makes it resilient to downtime.
The HMT tokens that Hamster Marketplace will be selling in their Token Generation Event will be used as an early opportunity to join the platform, and be rewarded for early adoption when token value increases as merchants and consumers join.
All tokens will be generated in this ICO, with no more tokens generated after this sale. A soft cap will be held at $2 million, with 1,200,000 of the 14,000,000 HMT being sold at the presale at a 20% token discount for an effective rate of $1.40 per token.
70% of the tokens will be sold at the crowd sale, another 27.5% reserved for the team, founders, project advisors, and early buyers, with another 2.5% reserved for bounty rewards.
Funds collected during the pre-sale and official public crowd sale (scheduled for some time in Q1 2018) will be used to achieve the milestones Hamster Marketplace set for themselves, which can be seen on their roadmap at the official website.
The first three quarters of 2018 will be devoted to development of an alpha version of the market place, with the platform to be readied for public release in case of at least 300 involved manufacturers.
Q4 of 2018 will see the beginning of a public beta, where Hamster will be developing a system to manage decentralized platform for vendors. Hamster then looks to achieve in 2019 at least 2000 vendors and 3.8 million customers, as well as testing of the systems, and repairing to transfer platform management to vendors.