NTOK (NTOK) ICO Review – ICO Token News

Overview

The NTOK ecosystem for tokenizing talents is an evolution of Tutor Ninja, a private tutoring operator serving thousands of users, into a blockchain infrastructure for continuing, lifewide education. The NTOK tokenization platform concept comprises online schools, an online aggregator of private tutor services as well as tutors and NTOK ecosystem partners’ services. The standard private tutoring approach secures selected tutor’s hours at a fixed price. The tokenizing talents concept in addition introduces rules of trading by based on blockchain Talent tokens, which are a sort of prepaid gift cards for the “Talented tutor” hours / lessons to be provided in the future. The Talent tokens may be an alternative utility to order a Talent tutor lesson. An ecosystem user may buy, exchange, or refund Talent tokens (based on blockchain) as well as use regular functions of a private tutoring infrastructure. The approach meets various expectations of tutors and students. The tokenizing talents functionality particularly provides an excellent opportunity for Talents to pre-finance their personal development and for Talent hunters to support Talents and earn on Talent token growth.

The education market is rapidly moving from offline to online. Tutoring, one of the biggest segments of the education market, is forecasted1 to reach US$227 billion by 2022. Currently, online tutoring accounts for only 3–5% of the tutoring market, but is expected to grow quickly and become mainstream in the fields of language study, preschool preparation, supplementary instruction for K-122 students and continuing professional education. Distance learning with a tutor will very soon become a regular teaching and learning method across a wide range of subjects and topics. School and university students, adults, and parents will choose distance learning with a tutor as a way of gaining new knowledge or valuable cultural experiences, preparing for exams, improving professional skills, or just learning for fun. Over the next few years more than 70% of the tutoring market is expected to go online, creating a dynamic market whose value may exceed US$70 billion in size.

Market overview

Tutoring is considered to be one of the largest education segments in monetary value terms. While in many other segments it is often difficult to persuade people that they need to pay for educational services or content, in the tutoring market everyone intuitively understands that they need to pay tutors for teaching. In addition, most people have had some experience of studying with a tutor.It is one of the oldest education segments and frequently the first resource that students seek out when they want to learn something. Tutoring exists both offline and online. Currently largely offline, it is poised for accelerated migration into online tutoring, stimulating major interest from educational technology investors. The world tutoring market is forecasted to reach US$227 billion by 2022. Currently, online tutoring accounts for only 3–5% of the tutoring market, but is expected to grow fast and become mainstream in the fields of language study, preschool preparation, and supplementary instruction for K-12 students. The company’s strategy is to enter new regions and become a true global business over the next 2-3 years. It is envisioned that the massive expansion will be driven by its products accessible via a user-friendly interface. The platform’s complete transparency and fairness to all users will be ensured by the innovative blockchain technology at the heart of the project. The company’s international expansion plans envisage South Korea, Japan and China as its primary target regions. The strategy for market entry is based on interaction with mature partners already engaged in similar business pursuits. Foreign customers and partners are also expected to become ICO token holders.

Description of the NTOK ecosystem

The NTOK-X Ecosystem is a global decentralized blockchain infrastructure for monetizing competencies, sharing experiences and raising funds for development and training with the help of Personal Token Sales. Within the ecosystem, the only payment vehicle used in transactions is the NTOK token. Talents may produce their personal tokens, based on the NTOK infrastructure3. Within the framework of the blockchain infrastructure, a personal token is a unit related to user’s time , which may be produced or refunded. Other users may purchase Talent tokens to resale them or exchange them for a Talent’s time in order to obtain a certain type of service. Buying a tutor’s time for training may be an example.

Services and Knowledge Domains

The ecosystem target model is assumed to support a wide range of services including freelance development or design, per-minute consulting, etc in future. The NTOK Alpha version is to maintain one domain, however the most important for the economical model of the project. An exchange of experience and knowledge will be available from the moment of launching the NTOK blockchain infrastructure. We anticipate the following areas may be the most requested and relevant educational topics in the short-term perspective. The list is surely open and will be expanded and supplemented with the development of the ecosystem.

Personal Token Sale

Users of the ecosystem may launch their own Personal Token Sale. It is the case when the user acts as a Talent, The other NTOK users may buy the Personal tokens for the core NTOK tokens. Non-NTOK users may buy the Personal tokens for crypto and fiat currency using special tools. When holders of the core NTOK verify and confirm the provided information. Moderation is recognized as successful if a Talent sells more than 10% of the total amount of Personal Tokens. Otherwise funds return back to Hunters. A holder of core NTOK has an access to the Personal Token Sale list to participate in the moderation.  At this stage, the remaining 90% of the Talent tokens are sold. A Personal Token Sale is considered as successful if the amount of Personal tokens sold exceeds Soft Cap. Otherwise, the funds return to Hunters. An NTOK gateway with external floors is used in the period since a Hunter may not be an ecosystem user as an option. To know current trend of ICOs, you can check ICO stats.