Multiven Open Marketplace: Quick Facts
The Multiven Open Marketplace (MOM) is the world’s first blockchain-based market for the global €4 Trillion Information Technology (IT) industry, providing businesses and individuals with the unprecedented ability to legally buy and sell IT products like software licenses, computers, video games, smartphones, routers, firewalls, switches, TVs etc. on a peer-to-peer basis, powered solely by smart contracts and one global medium of-exchange, the Multicoin;
The MOM is like Amazon or Alibaba for the IT industry, decentralised on the Ethereum blockchain, with the following core advantages over both. (1) Every transaction creates an immutable proof-of-ownership record on the blockchain. (2) The absence of intermediaries like Amazon, Alibaba and legacy OEM distribution sales channels equates to unprecedented lower costs of acquisition for consumers. (3) Put simply, shopping on the MOM incurs 0% commission hence whether you are buying a Nintendo switch for 100 MTCN or a telco company is buying a 30 Million MTCN core router, the only fees they will both incur is <€0.50 to mine the transaction.
The Multicoin (MTCN), an ERC-20 token that resides on the Ethereum blockchain, is the sole crypto-currency medium-of-exchange on the MOM Decentralised Application (DApp);
As the sole medium-of-exchange on the MOM, you will need Multicoins for all purchases;
Furthermore, to ensure that transacting parties are honest, both buyers and sellers will need to stake refundable Multicoins, equivalent to 2X the value of the asset, for all transactions;
Hence, the more Multicoins you own, the more you can transact on the MOM.
- Multicoin Token Auction Start Date — May 15, 2019;
- Multicoin Token Auction End Date — May 1, 2020;
- Total Multicoins Available for Sale — 700 Million
- Total Multicoins Available for Bidding Daily - 2 Million
- Minimum Bid Price per Multicoin on May 15, 2019 is €1.
- To learn more about the Multiven Multicoin Token sale, please see our Medium article
- If you have any questions, please post it on our telegram group at https://t.me/MultivenOfficialGroup