Hamster Marketplace, found online at Hmstr.io, is a decentralized trading platform run by manufacturers. Find out how it works today in our review.
What Is Hamster Marketplace?
Hamster Marketplace is a decentralized marketplace where manufacturers and consumers can make secure transactions. The platform promises to offer “unique gadgets without extra charges and intermediaries.”
The ecosystem revolves around HMT tokens, which can be purchased during the ICO in late 2017/early 2018.
The ultimate goal of Hamster Marketplace is to create a marketplace where thousands of vendors can get access to markets worldwide. Instead of appealing to larger manufacturers like Samsung and Apple, Hamster Marketplace aims to focus on niche electronics and unique gadgets from manufacturers, including startups and local projects. These companies might not have the resources to expand worldwide, or to open operations in a certain country. Using Hamster Marketplace, these companies can access new and profitable markets.
Hamster Marketplace wants to appeal to buyers and technology fans, as well as manufacturers seeking to expand niche products globally. Consumers receive a unique range of products at a fair price, while manufacturers access a global marketplace of customers.
How Does Hamster Marketplace Work?
Hamster Marketplace allows manufacturers and consumers to interact with each other over a transparent, decentralized environment. The marketplace is particularly focusing on niche manufacturers.
Today, niche manufacturers can sell their products on centralized markets – like Amazon, eBay, or AliExpress. However, these platforms don’t provide a great experience to niche manufacturers. As the Hamster Marketplace whitepaper explains, Amazon charges fees of up to 30%, while eBay charges up to 20%.
Depending on the platform, manufacturers might also not receive their money immediately. Amazon, for example, pays every two weeks.
Hamster Marketplace aims to provide a better experience with 0% commissions up to the final stage of the road map implementation (at which point the company apparently plans to implement a fee structure). The company will also pay sellers immediately, allow users to sell DIY electronics (something you can’t do on Amazon or AliExpress), and allow manufacturers to manage their own website.
The last stage of the road map, by the way, is scheduled to take place in 2020, which is when the marketplace will transition under the control of vendors and end its obligations to investors of the first ICO.
Customers, meanwhile, can enjoy a cheaper and more convenient experience. Hamster Marketplace will verify manufacturers in terms of product quality and production capabilities, so consumers can enjoy a protected marketplace. Consumers also have “the simplicity of choice, due to the lack of a large number of low-quality competitors,” explains the official site.
Transparent quality control, verified reviews, and price parsing for the best possible model are other advertised advantages of Hamster Marketplace.
Hamster Marketplace Features
Hamster Marketplace is advertising all of the following features:
- 0% fees up to the final stage of the road map implementation (scheduled for 2020)
- Access to buyers’ contact information for sellers
- Immediate payments to sellers
- The ability to sell DIY electronics
- A self-managed site by vendors
- Hamster Marketplace will verify manufacturers in terms of product quality and production capabilities, so customers are protected
- The simplicity of choice, due to the lack of a large number of low-quality competitors
- Transparent quality control
- Only verified reviews
- Price parsing for the best product
The Hamster Marketplace Token Sale
There’s a total supply of 20 million HMT tokens. 70% of tokens are allocated to the crowdsale. 27.5% are allocated to the team, founders, project advisors, and early investors. And 2.5% are set aside for bounty rewards.
HMT are ERC20 tokens set at a base rate of 1 HMT = $2 USD during the token sale.
Hamster Marketplace has set a hard cap of $28 million and a minimum amount (soft cap) of $2 million. Any unsold tokens remaining after the ICO will be burned. The company will also burn excess tokens to reduce their number at a continuing rate of demand.
Although the pre-sale was initially announced for earlier in 2017, it will be taking place towards the end. The pre-ICO date will be announced in the last week of November. You can participate in the token sale using most major cryptocurrencies.
Who’s Behind Hamster Marketplace?
Hamster Marketplace is led by Denis Bulavin (CEO) and Yegor Kotkin (COO).
The company is registered as Hamster Marketplace LLP in Birmingham, UK. Hamster Marketplace was formed in July 2016.
Hamster Marketplace Conclusion
Hamster Marketplace aims to change the way niche manufacturers sell tech products and gadgets to a global marketplace of users. The company aims to create a decentralized marketplace where niche manufacturers can sell products via smart contracts to a network of users around the world. Hamster Marketplace will regulate the quality of products on the marketplace while charging 0% fees until 2020.
The goal is to give manufacturers a better experience than they get on Amazon, eBay, and AliExpress, while consumers can access unique products they can’t find anywhere else.
To learn more about Hamster Marketplace, visit the platform online today at Hmstr.io. The ICO is scheduled to begin in late 2017/early 2018, although specific dates have not yet been announced.