Blockchain-based commerce platform, Hamster Marketplace, is gearing up for its public introduction — formally announcing its development and the date of its ICO. The hope is that the platform will ultimately challenge entrenched actors within the space, such as Ebay, Amazon, and Alibaba.

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In the same vein as projects like Openbazaar, Hamster Marketplace aims to bring the benefits of decentralization to online marketplaces via blockchain tech —  improvements which it believes are well needed, and will be well received.

Funding for the project will come through funds raised via Hamster Marketplace’s ICO sale with the platform’s native token, dubbed HMPT Tokens — an ERC-20 based coin — will be available for purchase.

The Status Quo Vs Hamster Marketplace

A problem with centralised marketplaces like Ebay, Alibaba and Amazon is that they have increasingly targeted larger clients such large-scale manufacturers and resellers. These platforms benefit those with a larger advertising budget, more sales, and a higher amount of product diversification, based on SEO and analytics at work within the marketplaces.

In addition, larger companies already benefit from a more developed culture of specialization, possessing entire teams of sales professionals. Start-ups and independent traders likely handle this side of the business themselves, or with a significantly smaller teams of professionals.

The recognition of this problem has motivated the team behind Hamster Marketplace to provide a solution — something they intend on doing by providing smaller, less resourceful companies the opportunity to meet prospective customers through a common platform.

On Hamster Marketplace, millions of customers will receive a unique range of one-of-a-kind products and thousands of vendors from all over the world will get access to markets that they do not currently have a presence in.

Russian entrepreneur and electronics producer Denis Bulavin developed the idea for Hamster Marketplace, acting on a desire to create a platform managed by producers that caters to their needs.

How will the Market Function?

The function of the market will use the Blockchain to not only guarantee authenticity of all payments and transactions effected across Hamster Marketplace, but to directly connect vendors to customers, taking advantage of the blockchain’s ever-potent ability to harness big data, and seamlessly connect users. Hamster Marketplace will charge a significantly lower fee for use of its platform than traditional marketplaces, by cutting out intermediaries and payment processors, who have been traditionally expensive and often slow in delivery in the past.

Additionally, Hamster boasts the only Vendor-controlled market, preventing crowding-out or overrule with unfair fees or policies in the future from marketplace owners.

Hamster Marketplace will provide differing benefits to stakeholders, ranging from customers, to producers, and the participants in the ICO process:

For buyers and technology fans

  • A unique set of gadgets and electronics
  • Inventions, DIY, and products for any needs
  • Selective offers without fakes and at the manufacturer’s price

For producers

  • Large audience with a demand for niche electronics
  • Minimum costs for positioning and promotion
  • The ability to take their sales and production to a new level

For ICO participants

  • Early access to platform testing
  • Discounts from producers

Hamster Market ICO

At this stage, Hamster Marketplace is ready to announce the start of its ICO-campaign with a special range of bonuses for the participants. 14,000,000 HMT Tokens will be available during the ICO process, with $28,000,000 in funding being sought in total. Conversion rate will be $2/HMT, with participants able to swap their ETH for HMT, at the mutual exchange rate in USD. Upon completion of the ICO, unused HMT will be burnt to preserve the value of the tokens.

The early investors will be the first to get access to platform testing, as well as a number of discounts from the producers. Participants are welcome to take part in the ICO of HMT tokens, and will be able to find the start-date of the ICO by the end of November. Visit the Hamster Marketplace Website to subscribe to updates about the ICO.

Hamster Martketplace 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.

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