OpenCollectorsNetwork: The future protocol for one of a kind token.

fitsaintbig (26)in #blog • 6 years ago

The 21st century will forever be remembered as the century that ushered in one of the most disruptive technologies in the history of mankind: the blockchain. The breakthrough of this technological phenomenon continues to revolutionize all spheres of human endeavors. We live in an era that is increasingly influenced by technological advancements. Their roles and importance in our daily lives have become increasingly more meaningful and, in many cases, inseparable.

Existing blockchain technologies have been able to provide a decentralized platform for fungible tokens such as currency(e.g Bitcoin )

But so far none has been able to develop a decentralized platform which facilitates storing and interacting non fungible tokens such as company specific assets , products , users , services, income balances e.t.c.

The market for nonfungible tokens is virtually endless. If you look around you, almost all the things you see can be categorized: people, cars, streets, shops, products, art and so on.
This is a project determined to reinvent Blockchain usage

I honorably enjoin you to kindly seat tightly to enjoy this mind -boggling exposition of one of the best projects in the world to invest in a platform thay will contribute to the creation of the future with special interest in the IT industry as its main target which has a 9.27 trillion dollars market capitalization in the US alone and is among the fastest growing industries.

OpenCollectorsNetwork project defined:

Open Collectors Network is the first decentralized platform for where everyone can seamlessly own , create , customize , one interact withofa and kind trade tokens, individual tokens, on an open market, based on existing standard specifications.

The founders of Open Collectors Network consider themselves as getyourhands dirty programmers at heart. They love a good technical challenge and since the beginning of 2017 they’ve started looking into blockchain tech. How the different proof and the special structures, like IOTA & Raiblocks. The morofX work, all the hashes out there e read about the blockchain, the more they saw the beauty in it, and they knew that’s what they wanted to do from then on. But at some point, it hit them: all the coins out there were just currency, and like money, they’re fungible. Whereas in our daily jobs, working with things that are nonfungible writ ing code was all about : like the list of company products, users, roles, services and so on. The list of possible use IT industry depends on it, and if they cases for unique tokens is virtually endless: the entire converted to the blockchain, they’d get all the benefits decentralization brings: security, transparency, trust and the ease of attaching monetary value to something (virtual currency). With this in mind, they started investigating what exists out there and it seems not a lot . Just a newly created Ethereum standard (ERC721, with a couple of other ERC proposals). So that’s their vision: to create a decentralized open platform, based on existing standards, for nontokens, all the while making it easy for fungible the IT industry to join the blockchain revolution.

OpenCollectors network will be the first open platform making it easy for businesses to join the blockchain revolution with aim is to create the first decentralized platform which facilitates storing and interacting with non-fungible tokens

Why you should choose OpenCollectorsNetwork as your next investment option:

With Open Collectors Network, you have:

Transparency and trust
Seamless trading, selling and royalties
Bullet-proof security
Robustness
Scalability
Ease and cost-efficiency of attaching monetary value (virtual currency) to an asset

OpenCollectorNetwork platform functions based on our own utility token, the ECTO . It is needed to pay for creation and trading fees, while at the same time, offering multiple benefits such as

Discount: Discounts on the platform are directly proportional to the amount of ECTO tokens you are holding at the time. The more tokens you have in your wallet, the bigger the discounts

Periodical rewards: All fees collected in ECTO will be redistributed periodically, as rewards for our users, according to a specially designed prooffstake algorithm which takes into account relative activity on the platform and also the amount of ECTO tokens you are holding. Our company retains 13% of total ECTO supply, to be used as incentives for attracting strategic partners to our platform an d accelerate our growth, with special terms and conditions to be applied. Our token mechanics allow it to have greater demand over time, proportional to the amount of usage of our platform. An increase in popularity & usage of our platform translates

It is worthy of note that the OpencCollectorsNetwork platform currently has no competition , with regards to the possibility of creating tokens and in general, to the breadth of use cases possible on our platform. Although there are a couple of projects out there working with non fungible tokens, they are limited to trading already existing ones, like CryptoKitties, CryptoPunks or Decentraland. Our platform also supports these tokens, as they are based on the open ERC721 standard, but it can do so much m 5 Use cases ore than that.

Meet the wonderful team behind OpenCollectorsNetwork:

TOKEN METRICS , ICO DETAILS AND COIN DISTRIBUTION.

Main source of monetization is represented by the platform’s fees and we expect Open Collectors Network to sustain itself in maximum 6 months to 1 year from main launch. Other types of monetization, like premium user’s roles and partnership requests are planned for the future. Given this, 2018 will be considered year 0 and the assumptions used are representative for the financial forecast for Open Collectors Network. Any person purchasing Open Collectors Network platform’s services or ECTO tokens expressly acknowledges technical and market uncertainties. The economic model of the platform is based on the following formulas:

*Non-fungible token creation price, based on an initial fee of 100 ECTO
*Forecasted price of our ERC20 token, the ECTO *Number of registered users
*Number of businesses created
*Number of partnerships acquired/businesses created on the platform
*Platform’s trading activity, based on 0.1% fee

Gotten from the whitepaper is a pictorial/graphical representation of more details about ECTO token: