Winnest announces dates for ICO and pre-sale

October 05, 2018
Chris Wheal

Winnest, the blockchain-based collaborative economy market with aims of disrupting the e-commerce industry to create a global marketplace driven by a social economy, has announced more details on its initial coin offering.

Winnest logo

Winnest logo

The Winnest ICO pre-sale will launch at 6pm on October 15, concluding at 6pm CET November 11, while the ICO will launch at 6pm November 15 and conclude at 6pm on January 10, 2019.

The Winnest project aims to eliminate the middleman from the ecommerce industry, creating a social marketplace that increases participant buying power and rewards users with a collectivized earning system.

Its platform is driven by the WNC token, a peer-to-peer (P2P) cryptocurrency designed to allow users to transact with one another without third-party fees. The Winnest project extends beyond a simple blockchain-based e-commerce platform, however. In addition to establishing a social marketplace where goods, services, and rentals can be offered and purchased with WNC, Winnest offers a comprehensive toolbox that provides consumers with “cashback” operations and users remuneration.

How Winnest works

Winnest platform participants can promote products and services from the Winnest catalogue, providing merchants with increased visibility via a gamified structure that rewards users for their contribution to the Winnest community.

Each WNC purchase on the Winnest platform generates an equivalent amount of TWNC loyalty tokens that are distributed to buyers, sellers, and promoters, establishing a collaborative remuneration model. Winnest says that users benefit from the platform’s synergies, thereby improving their buying power, network of followers, image, influence, and activity based on their participation.

TWNC tokens generated by the purchase and sale of products and services or by community-driven promotion can be used by platform participants to promote products, sponsor other products in order to benefit from network effects, or can even be converted directly to WNC tokens.

The Winnest ecosystem rewards participants via a hierarchical system of ranks that allow users to rapidly increase income based on network influence, incentivising promoters to communicate the goods and services offered by Winnest merchants to buyers through sponsored news feed space, social media recommendations, and banner advertising.

The project is driven by CEO and physicist engineer Thomas Kautzsch and supported by an international team of e-commerce, fintech and blockchain professionals. The Winnest token sale will generate 5,000,000,000 WNC, with 20% reserved for a four-week WNC pre-sale that will offer 40% bonuses for the first two weeks and then 30% for the subsequent two weeks.

 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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