Hamster ICO Review – ICO Token News
What is Hamster ICO?
Hamster ICO is a decentralized marketplace that offers unique gadgets without the involvement of intermediaries and incurring extra costs. It allows for secure transactions for the consumers and manufacturers. The ecosystem revolves around Hamster tokens or HMTs, which can be purchased during an ICO. The marketplace aims to bring the benefits of decentralization to the online retailers, leveraging the innovations in blockchain technology which the developers believe are very much required and hope to be well received by the customers and investors.
Hamster offers a perfect platform for the smaller vendors looking to sell their niche and innovative electronic products. The platform has a unique value proposition for all such resellers. Being decentralized, it effectively eliminates the role of third-party actors and saves the vendors from the associated costs of the infrastructure maintenance, salaries and server fees. There will be a dedicated workforce to manage the decentralization of the platform that will be rewarded for its actions.
What problem Hamster ICO is to solve?
The problem with the traditional e-commerce giants like Amazon, Alibaba and eBay is that they cater to big-time resellers and manufacturers. These platforms only benefit those with a wide range of product diversification, more advertising budget and sales. Startups and small-time vendors with unique product offerings may find it extremely difficult to operate on these platforms as the costs will simply be prohibitive. The bigger players also benefit from a highly developed culture of specialization as they have the team of seasoned sales and marketing professionals, which small-time vendors of innovative products lack.
The platform offers multiple value propositions to the stakeholders, which are described below
It offers up to 20% commission for the first stage. Unlike Amazon that pays out on biweekly basis, Hamster pays out to the sellers immediately. It also provides the platform management facility to the vendors. The producers get large customer base who is interested in the purchase of niche electronic items. They are in the advantageous position of taking their sales and production to the next level with minimum costs for the product positioning and promotion.
The platform provides the opportunity to sell DIY electronic products. Universal assortment of goods and verification of the manufacturers is done on the basis of their product quality and production capacity. Defective goods are registered in a transparent manner and selection is simplified due to the absence of low-quality competitors. Point to be noted is that all these facilities are not available with Amazon, AliExpress and eBay. The technology fans get unique set of electronic and innovative gadgets. The platform offers new inventions and DIY products to the buyers. They also benefit from the selective offers on the genuine products at the manufacturer’s price, as no middlemen are involved in the selling and buying process.
Since there is no fabricated feedback, investors get the best opportunity to invest in the early stages of the platform development cycle.
Hamster ICO Participants
They will get discounts from the producers and first access to the testing of the platform.
The Problems with Online Marketplaces
With the rapid evolution of online retailing in the recent years, ecommerce giants have worked hard to provide enticing user experiences through the integration of payment, delivery and branding solutions. However, their backend retail processes are still done the old way, allowing the middlemen to take their cut, and keeping the price from dropping any further. The outdated business processes developed for offline retail force e-vendors require them to:
- Go through the complicated and time consuming business processes
- Freeze the financial resources in Accounts Receivable for long-term payouts
- Bear the delivery and storage costs
- Provide a large range of goods so that marketing costs can be justified
- Include the margin of the middlemen that increases the sale price of the product
How Hamster Solves These Problems
The recognition of these problems motivated Russian entrepreneur and electronics producer Denis Bulavin and his team to come up with a solution that could provide less resourceful and smaller companies to reach out to the prospective customers on a global scale through a platform that is cost effective and self-managed too. So, they came up with Hamster decentralized marketplace that allows the small vendors to sell their innovative electronic items in a cost-effective and seamless way.
The platform offers unique advantages to the sellers and buyers. The marketplace is accessible to small, niche and even novice producers of the innovative electronic items and gadgets. On the other hand, the buyers get unique goods that are hard to find in the chaos of other online stores. Since the prices will have only the minimum markup possible, the platform has the capability to sustain itself.
The Right Platform for the Vendors of Innovative Products
Vendors in young niche often experience hurdles as the target audience is scattered across different sectors. The instruments for accessing this sector do work, but to siphon out your share, you need to reach to the customers who manually search for your products. It simply means that marketing expenditure must cover an audience base several times larger than the target audience itself. The price becomes unmanageable for many sellers, especially those in the indie-projects, that’s the reason most of the producers stay local in a young niche market. They don’t have the resources to market the products on a global scale. Hamster addresses this problem of the vendors in a perfect way through its decentralized marketplace that provides global exposure even to DIY product manufacturers and also the well-established international players.
Hamster marketplace is a digital revolution in online retail, with special focus on electronics and electronic items. The decentralized, self-managed trading platform allows the small time vendors compete with the industry’s bigwigs in a healthy and fair manner. It filters unoriginal goods from the marketplace, eliminating the audience overlap in the process.
Innovations That Set It Apart
Hamster shifts the paradigm of marketplaces from the conglomerates and behemoths like Amazon and eBay, from their traditional centralized operational mode to a decentralized and freer trading platform. The platform brings the power back into the hands of SMEs in a true sense, which is the essence of a free economy.
Hamster offers a specialized marketplace for the vendors and customers with appreciation for the innovative products in the electronics industry. The issue faced by such vendors is that their niche and innovative products are often one-time and there are logistical and other issues to profitably sell them to the customers. So, it becomes pretty hard for such vendors to sell their products through the big time Ecommerce retailers as they have to compete with other commercial products that are mass produced and sold at low price to the people. So, these big online retailers and stores do not consider it profitable to carter to such vendors and products. They think as there are few customers for such products, they won’t be able to get much revenue through sales. By providing a right platform to such vendors, Hamster allows such manufactures to effectively market their products to the customers all over the world and earn profit too.
Unique Features and Value Proposition for Vendors
The platform allows for self-management of the business by the participants. The manufacturers of goods can run a trading platform of their own. This model is innovative in approach and unique to Hamster that no other marketplace has ever been able to provide till date to the product suppliers.
The marketplace is a decentralized project and works on non-profit mode. To achieve this goal, it follows the below tow principles in letter and spirit.
- The platform provides the opportunity to the producers to find the buyers on a global scale, without the involvement of the middleman. Delivery of goods is facilitated through the resources of the vendor, or through the partner services of the platform.
- Reliability of accounting the votes of the management decisions is guaranteed with the use of Emercoin blockchain for voting. The blockchain also ensures that spending calculations are transparent and the decisions of the management are secure.
Why the Marketplace Will Take Off?
The marketplace is exclusively for niche products to broaden the range of new ideas for the manufacturers and the buyers. Due to specialization, it will be able to attract the target audience and broaden the community of early enthusiasts who always look for niche electronic projects. Moreover, it offers a non-profit structure that allows for cheaper deals for vendors. The marketplace allows the producers of goods to occupy a niche which bigger marketplaces have already outgrown.
Tokenization of Hamster Marketplace
Hamster Marketplace Tokens or HMTs are digital smart contracts developed on the Ethereum platform. The tokens in pre-sale will be sold with 20% discount.
HMT Token Sale
Hamster ICO is slated for Q4 2018. The company token is represented as HTM token. Around 14 million HMT tokens will be available for sale to the investors and buyers. The company hopes to raise around $28 million through crowdfunding. Each token will be priced at $2. The tokens will be sold with discount during the pre-sale. The tokens are ERC-20 compliant.
The participants can swap ETH for HTM and USD through the leading crypto exchanges that support the transaction for the coin.
The funds raised will be used for:
- Attracting the vendors of selling innovative electronic items and gadgets,
- Launching and developing the platform.
- Attracting the buyers looking for innovative and unique items to purchase.
- Decentralizing the management of the platform with digital trust instruments.
HMT will not be mineable, and the company has set a soft cap of $2 Million USD for the crowdfunding. 1,200,000 tokens will be up for sale with 20% discount during the pre-token sale. The company has provided its roadmap in the Whitepaper about how the funds will be raised and utilized for its expansion and launching new projects. It is scheduled to release the Alpha version of the platform in mid-2018 and Beta version by the end of 2018.
The early investors to Hamster ICO will be offered attractive discounts by the producers. Moreover, they will be the first to gain access to test the functioning and features of the platform. The participants are welcomed to participate in the ICO of HTM tokens. A part of the funds collected during the ICO token sales will be used to build out the decentralized marketplace of the future.
How Is It Different?
The marketplace provides the customers access to a unique range of innovative, niche and one-of-a-kind products from all over the world that are hard to find anywhere else. On the other hand, vendors get access to a worldwide market and reach out to millions of customers to whom they currently do not have access to.
Hamster leverages on the ever-potent ability of blockchain to harness big data for authenticated and secure payments and transactions between the sellers and buyers. The developers have been able to cut down the fee significantly to use the platform by eliminating the intermediaries and payment processors, who slow down delivery in the traditional marketplaces and also add to the expenses of the producers. It’s essentially a vendor-controlled marketplace that effectively prevents unfair fees from being charged.
Team at Work
- Denis Bulavin: CEO
- Yegor Kotkin: Chief Operating Officer
- Xenofon Kontouris: CMO
- Kilian Kaminski
- Stan Polozov
- Oleg Khovayko
Hamster currently aims producers of the indie-electronics and niche gadgets. In the future, the company management may bring non-electronic goods in its gambit that have demonstrated clear potential for growth.
Hamster is a decentralized marketplace where the manufacturers can sell their products through smart contracts to the networked buyers all over the world. The management will regulate the quality of the products offered on the marketplace without charging any fee till the year 2020. Their objective is to provide better marketplace experience to the users than they get on other leading platforms like Amazon, eBay or AliExpress. Since Hamster integrates the prowess of blockchain technology into its decentralized platform and brings the focus on the originality and ingenuity of the products, it’s definitely a platform to look forward too, no matter whether you go to buy its tokens or not.