Cryptostarter is a blockchain technology-enabled-platform that allows campaigners to create their project tokens that one can redeem for a product. The tokens can also be used as a digital share of future organization or be traded. The platform creates a marketplace for tokens as the project tokens will be limited at the start and the price is bound to change as the platform grows. Some of the projects that will be acceptable on the platform have to do with technology, games, design, film & video, and infrastructure projects among others. This is how the platform works:
- An entrepreneur submits a project on the platform
- Project tokens are generated and listed on the exchange
- Tokens are bought and sold before the product is released
- Tokens get redeemed with a product when the product is released.
The users of the platform will be able to create two types of tokens. The product token where only one project can be redeemed at the end and the company project token where the token can be a representation of a digital crypto share of the crowdfunded startup company or the token can be used as a new cryptocurrency. The two types of tokens allow one to list the token in the Cryptostarter exchange and on other exchanges as well.
Current Crowdfunding And Cryptocurrency Market
Many creative products, technical developments, and artwork have emerged due to the help of crowdfunding systems. However, most of these systems operate in western countries, and some of the supported projects have not met the expectations of their supporters after launch. Additionally, cryptocurrency markets have significantly grown although many participants are unable to benefit from this growth. Some of the hindrances of this include the lack of local support for the cryptocurrency market and lack of knowledge on issues to do with cryptocurrency. While it is possible to use known cryptocurrencies to crowdfund one’s project, the lack of knowledge and effort to come up with an infrastructure for this process have not made this possible.
How Crytopstarter Tokenizable Crowfunding Blockchain Works
Cryptostarter seeks to combine crowdfunding and cryptocurrency in a simple platform in a bid to make crowdfunding accessible and easier to use by entrepreneurs and non-technical artists. The platform transforms crowdfunded projects to swappable and sellable tokens that are on a bitcoin and Ethereum protocol. This makes a product into a valuable future asset that will be sellable or swappable for other project tokens. The use of blockchain technology will enable users to access the platform from anywhere in the world. Additionally, Cryptostarter will also allow the use of local currencies for the convenience of withdrawal or investing of funds.
CryptoStarter CST ICO Details
The Cryptostarter token also referred to as IDEA-coin had its presale on 1st January 2018; the presale was giving out a 50% bonus. The ICO Will take place in April 2018. Anyone with the IDEA-coin on the platform will receive 3.5% rewards for every crowdfunding campaign on Cryptostarter. Those project owners who will register their projects on the platform before the launch of Cryptostarter will get access to the platform.