Hot Token (HTKN) is a gamified token that aims to reinvent digital marketing. Find out how it works today in our review.
What Is HoToKeN?
Hot Token, found online at HoToken.io, provides merchants in Southeast Asia with cost-effective marketing tools. The blockchain-based platform creates a gamified ecosystem that sees itself as similar to “freemium” games – it’s free to use, but you’ll need to pay for more advanced features.
Hot Token, or HTKN, is the name of the token used in that ecosystem. The ecosystem itself is called HotNow.
The overall goal of Hot Token and the HotNow ecosystem is to help Southeast Asian merchants convert more visitors into paying customers. To do that, HotNow will offer loyalty programs, marketing systems, and even micro-lending systems that help merchants take full advantage of the new digital economy.
HotNow is an existing mobile app. As of December 2017, the app has 700,000+ downloads and 380,000+ monthly active users. They’re already a revenue-generating business in Southeast Asia. Now, with Hot Token, the company seeks to implement the benefits of digital currency into the platform. Hot Tokens will incentivize user participation in the platform while also allowing merchants to pay for ads and CRM tools within the platform.
What Problems Does HoToKeN Seek To Solve?
HotNow seeks to solve a number of major issues with its Hot Token and the HotNow ecosystem. Some of the identified problems include:
- Consumers are bombarded with irrelevant or “location-impractical” promotions, and consumers have learned to ignore irrelevant advertisements
- Asia’s population is young, social, and aspirational; they’re ready to spend money, but they’re also sensitive to price changes
- Merchants, meanwhile, are paying increasingly high prices for mobile marketing; HotNow attributes these problems to oligopolistic behavior on social networks and messaging platforms, where only a few major providers dominate the space and can set whatever prices they like
- Small and medium-sized businesses find it prohibitively expensive to market online
- Larger social networks and messaging platforms offer limited tools for identifying and targeting “high propensity consumers at specific locations and during optimal times of the day”; although some advertising platforms offer this capability, merchants do not have the technical capabilities to take full advantage
HotNow aims to solve all of these problems.
How Does HoToKeN Work?
HotNow is a mobile and web discovery app for goods and services. The goal is to give merchants more control over their marketing messages and marketing spend while giving users access to exclusive discounts.
HotNow reduces the amount of time customers spend searching for relevant goods and services. To do that, HotNow allows merchants to establish a better online presence – including implementing “billboard-like marketing messages” for free.
For a small premium, merchants can also deliver highly targeted marketing messages to relevant HotNow users.
As mentioned above, HotNow is an existing app: the app has several hundred thousand monthly users. They also have 50,000+ listed merchants. Shortly after launching in 2017, HotNow attracted Coffee World, Thailand’s second largest coffee chain, as its first major client. Baskin Robbins would later launch an exclusive campaign on HotNow.
Basically, HotNow allows merchants to deliver targeted, specialized, and exclusive offers to consumers in specific geographic areas – similar to any good ad network.
Users, meanwhile, can enjoy exclusive discounts on goods and services by using HotNow as a research and discovery engine. HotNow reduces the time and cost of searching while giving users the ability to learn about merchants and shops that they otherwise would not have discovered.
We know how HotNow’s ecosystem works – so how does Hot Token work? Let’s find out.
How HoToKeN HTKN Coins For Business Discounts & Deals Works
Hot Token, or HTKN, is the token that flows between consumers, merchants, and the HotNow advertising/marketing platform. Here’s the basic flow of goods:
- Merchants offer deals and promotions to users, then users pay using Hot Tokens
- Merchants pay for marketing and CRM tools using HTKNs
- HotNow rewards users with HTKNs when they contribute to network growth (like through game mechanics, social engagement, and a reward system)
- Users can complete “missions” in HotNow. Each mission will require members to perform a certain activity or a collection of activities that are deemed to contribute to the growth and sustainability of the platform. Some of the missions could include:
- Users invite new users to the network, and those users become active contributors
- Users use HTKN to access a promotion advertised by a merchant
- Users interact with the platform by promoting the app, rating a merchant, or viewing pages within the app
Meanwhile, merchants can also receive HTKN tokens as a reward. Merchants will receive rewards when they provide promotions “of outstanding value” to users. Merchants will also receive tokens when they receive higher rates or more attention from users, which suggests they’re offering particularly strong value to the platform.
Who’s Behind HoToKeN?
HotNow is being developed by Red Anchor Trading Corporation and is backed by Axion Ventures, a publicly-traded corporation (TSX: AXV). Axion Games Limited, formerly known as Epic Games China, is a subsidiary of Axion Ventures, Inc. They’re a successful PC and mobile game developer that has partnered with Epic Games (USA) and Tencent.
HotNow is headquartered in Thailand. However, the company seeks to expand to cities across Southeast Asia.
Key members of the Hot Token team include J. Todd Bonner (Chairman). Bonner is also the Chairman and CEO of Axion Ventures, Inc. and a Director of Axion Games. He’s a serial entrepreneur and an experienced investor who has been active in telecommunications, insurance, real estate, merchant banking, and tech.
Other listed members of the team include Nithinan Boonyawattanapisut (CEO and Founder), a serial entrepreneur, seasoned executive, and professional trader, VaroonAroonsit (COO), and Prachya Gorpaisarn (CTO).
The HotNow beta originally launched in February 2016, with the full version launching in March 2017. The Hot Token whitepaper, meanwhile, launched online in November 2017.
HoToKeN HTKN ICO Details
The Hot Token ICO began on January 21 and is scheduled to end on March 20, 2018.
During the ICO, 1 HTKN is priced at $0.10 USD. HotNow is accepting BTC and ETH during the token sale. The tokens are launched on Stellar.
There’s a total supply of 10 billion (10,000,000,000) HTKN tokens available to be minted. There’s a hard cap of 3 billion HTKN for the pre-sale and ICO combined. An additional 500,000 tokens will be locked for the network’s employees. The remaining tokens will be placed in HotNow’s reserve fund.
HotNow is an existing, revenue-generating Southeast Asian marketing app designed to help merchants interact with consumers. Merchants can offer exclusive discounts through the app. Users, meanwhile, can find the best local deals.
HotNow seeks to introduce Hot Tokens to incentivize participation in the HotNow ecosystem. Hot Tokens, or HTKNs, will be given to users who positively interact with the platform, for example. Users can pay merchants in HTKN for exclusive discounts, and merchants can spend HTKN on advertising on the platform.
To learn more about HotNow and the Hot Token ecosystem, visit online today at HotToken.io.