Opporty the Ethereum powered service marketplace ramps up development with ICO
Latest posts by Dean (see all)
- IQeon decentralized gaming platform: can gaming broaden blockchain’s appeal? - February 21, 2018
- FarmaTrust review: using blockchain to fight fake medicines - February 20, 2018
- FarmaTrust tackling fake medicine in Mongolia with government partnership - February 18, 2018
Opporty is a blockchain-powered service marketplace for small and medium sized businesses and freelancers, built on top of Ethereum. An active market is already being established (see: https://opporty.com) with a wide range of listings for both business to business (B2B) and Business to Customer (B2C) services. But in order to ramp up development even further and reach out to new users, the company has announced the launch of an ICO token sale starting on December 27th 2017.
The Opporty Platform
Based around a directory of offer / request listings, the primary purpose of the Opporty platform is to connect service providers and potential users.
For businesses the aim is to simplify and reduce the costs of lead generation, while at the same time providing a single solution for negotiating terms and taking payment for completed work without the risk of non-payment.
On the other side of the equation, service users enjoy an easy to search portal for finding businesses in their local area, with the option of cryptocurrency payments with added consumer protection features.
Many blockchain based projects suffer a similar problem: a limited base of users who are already familiar with and comfortable using cryptocurrency. In order to get around this problem Opporty features an easy-to-use website based interface and the option to pay using fiat currency. Far from reducing the use of cryptocurrency within their ecosystem, the hope is that this will draw in new users who can be introduced to the use of crypto through rewards paid out in the native OPP token for completing specific actions (more on the OPP token below).
Through the use of Ethereum smart contracts, the platform is able to offer semi-automated escrow services to protect both business and customer from fraud and other risks. When a service provider and a customer connect through the platform they sign a smart contract. The cost of the service is then held in escrow by the smart contract itself, ensuring that no third party needs to hold the money. If the buyer is happy that the service has been provided as advertised they can then trigger the smart contract to make payment directly to the service provider. In the event of a disagreement, an escrow judge will be selected by Opporty’s self-regulated community based on their rating and reviews, and will then provide arbitration to resolve the conflict.
The token and ICO
A total of 1 000 000 000 OPP tokens will be issued to support the network. These are ERC-20 Ethereum tokens.
Starting on December 2017th 2017 a maximum of 400 million of these tokens will be made available during a phase I ICO sale which lasts until January 25th 2018. Investors and early adopters can purchase these tokens for a cost of 0.0002 Eth each. Any unsold tokens will be locked for one year and offered for sale during a phase II sale in 2018.
In addition to this, 50 million tokens will be put into a bounty rewards program, with 10 million OPP to be used during the phase I ICO sale.
The value of OPP is supported by regular buybacks of OPP by Opporty themselves from revenue generated by the marketplace.
You can find more information, view current listings, and take part in the ICO sale here: https://opporty.com/