Blockchain based Hamster Marketplace, which is setting itself up as retail platform to rival those such as Amazon, announced its token presale, which launched on the 11th of December, 2017, and will run until the 31st of December, 2017. The HMT token powers the platform which will connect inventors, innovators and gadget producers with tech-savvy consumers.
After receiving $600,000 US in private investment, the decentralized retailer will allow millions of customers to access a range of one-of-a-kind products, while thousands of vendors worldwide will gain access to new markets. Hamster Marketplace is a non-profit trading platform which enables emerging producers and start-ups an opportunity to sell their niche electronics without the need for a third party.
Funds raised during the Token Generation Event and through the distribution of HMT tokens will be used by Hamster Marketplace to attract vendors and buyers to build out the decentralized trading platform. Initially Hamster Marketplace will be aimed towards inventors, producers of indie-electronics, and gadgets, and the individuals worldwide who are looking to access these technologies and inventions.
Verified reviews on Hamster Marketplace are linked to the blockchain to avoid tampering. Intellectual property of inventors is also enforced on the blockchain, ensuring no cheap imitations will be sold. Having no central point of failure the platform will be resistant to downtime and hacks.
The platform is expected to assist buyers by providing unique gadgets and electronics, long with selective offers without fake products and a price set by the manufacturers, avoiding price inflation by removing middle men. For producers, benefits are described as access to large audiences, as well as minimal costs for positioning and promotion.
In the token sale, investors will have the chance to buy Hamster’s native ERC20 HMT tokens. HMT will not be mineable, and Hamster will set a soft cap of $2 Million USD as the minimum level of funding to reach to continue development. In total 14,000,000 HMT will be created, with 1,200,000 of these tokens up for sale in the pre token sale at a 20% discount of $1.40 per token. Funds raised will allow Hamster to follow their roadmap, releasing the Alpha version in mid-2018 and the Beta version by the end of 2018.