What Is Ravelous?
Ravelous is a cryptocurrency-based e-commerce platform that will provide users with the chance to buy and sell items online in exchange for cryptocurrency secure and straightforward. It is made to help people buy and sell products for crypto so that they can acquire coins without having to invest their fiat money.
The platform will hope to bring together the security and trust systems of the markets along with the ease of use and familiarity that is necessary to accommodate all customers across the globe.
How Ravelous Blockchain Ecommerce Marketplace Coin Works
Ravelous will support not only the community but also a full-fledged marketplace that supports:
- Shops- Shops also make up the structure of the market. The online shops are built on the platform's fundamentals, listings, and easily customizable to the like of the sellers
- Listings- The primary aspect of the Ravelous Marketplace is the merchant listings. Each listing is a product with its title, brand description, price, location, among other features
- Community governance- Each cryptocurrency that Ravelous accepts as payment into the marketplace will only work once it is voted in by the community
- Advertising- Ravelous will allow the merchants to advertise their product listings and shops by joining Ravelous Advertising portal. Sellers will be able to choose from a list of different ways of advertising including, search keyword listings, daily featured products, or personalized advertisements
- Prices- When creating the price listings, every seller will have to enter the cost of each item in the fiat currency they want and the cryptocurrency that he/she is willing to accept
Ravelous will provide buyers and sellers with a new token to facilitate the e-commerce network. The token will gain value from the initial token sale, and the base price will never decrease. Additionally, the Ravelous token expects to use the RAVE token as an intermediary for the e-commerce product sales and when the customer does not possess the seller's model of coins.
Additionally, the buyers and sellers can decide to only use the RAVE token due to its stable price value. The RAVE token works similarly to the gold standard principle to create a sustainable foundation for the Ravelous marketplace.
The concept with the Ravelous project may see merchants bid goodbye to the third-party marketplaces such as Amazon and eBay. Consequently, this could have the following implication:
- The growth of global e-commerce with no restrictions
- Sellers get the freedom to choose their model of payment without any constraint.
- The community model also gives members the freedom and control on what to include in the Ravelous Marketplace.
Ravelous RAVE Token ICO Details
- Start- 7th February, 2018
- End- 7 March, 2018
Parameters Of The ICO
- Ticker- RAVE
- Platform- Ethereum
- Model- ERC20
- Token distribution- 100M tokens
- Price rate- 1 ETH=4000 RAVE
- Hard cap- 11154ETH
- Soft cap- 100 ETH
- Minimum investment- 0.05 ETH
- ICO– 50%
- Team- 6%
- Reserve- 36%
- Bounty- 3%
- Airdrop- 5%
Overall, the Ravelous e-commerce project has a pretty interesting concept behind it with a radically new model of marketplace. However, there is concern on the lack of experience that the Ravelous team possesses. While age may not seem essential, the young developers could face hurdles when it comes to handling potentially advanced technical details of the global e-commerce marketplace in the long run.