PROBLEMS SOLVED BY ECRYPTOSTORE
Anyone and everyone with internet access can trade on the Ecryptostore platform, also buying and selling can be done easily with cryptocurrency because there is no need to exchange or transfer it to a fiat currency before buying or selling.
• The marketplace is safe and secure, the risk of fraud is reduced to its barest minimum.
• There are no fluctuations in market price and transactions are very swift when compared to other crypto services.
• Users are given tax invoice when personal goods are bought on the platform.
• Merchants do not have to go through the stress of building and managing an ecommerce store.
• Merchants are exposed to more clients as the platform offer a wider audience base.
TOKEN SUPPLY AND DEMAND
The following factors will determine the supply and demand of the FMT Token
• The number of sellers on the platform with certified Gold/ Power Merchant status.
• The number of sellers on the platform that has the instant payment settlement status.
• The number of sellers on the platform that makes use of FMT tokens for Audience Incentivised Gift Marketing.
• The rate by which users exchange or transfer FMT tokens to other crypto wallets.
• The amount of FMT tokens in every frozen account on the platform.
• The rate at which new sellers buy FMT token from the Token Reserve Pool.
CASUAL MERCHANT (UNVERIFIED)
Here, the merchant created an account with the provision of little details about themselves and their product. In order to reduce scam and fraud, buyers will pay for products purchased through escrow, the only exception, in this case, is if the merchant has enough FMT staked as collateral. The transaction limit is set at AU$1000.
CASUAL (VERIFIED SELLER)
Here, the merchant has provided enough personal details about themselves and their product, the merchant is verified as genuine person or company. Scam and fraud are reduced and no FMT token is needed as collateral.
GOLD MERCHANT (VERIFIED)
Merchants in this category have provided enough personal details about themselves and their product, the merchant is verified as a genuine person or company. This status (which is an upgrade from the casual verified seller) can be attained with a recurring subscription of $10 per month or if the merchant stakes over 250+ FMT tokens in their wallet.
POWER MERCHANT (VERIFIED)
Merchants at this level have provided enough personal details about themselves and their product, the merchant is verified as a genuine person or company. This status can be attained with a recurring subscription of $40 month, or if the merchant stake over 1000+ FMT tokens in their wallet.
COMPETITION AND MARKET POSITIONING
Ecryptostore is targeting two different markets with its platform, one is the ecommerce and the other is cryptocurrency. Presently, eBay, Amazon, and Alibaba are the three major players in the ecommerce market space, Ecryptostore is hoping to break their stronghold by attracting a small percentage of business from each of the current big-shot.
While cryptocurrency is new technology that is most people is gradually warming up to, the following factors which include the absence of general corporate strength, existing payment gateway partnerships and firm roots in the traditional fiat marketplace will discourage the main players in the ecommerce market space from joining the crypto space anytime soon.
Ecryptostore has the chance to put a strong foothold in the current cryptocurrency market as one of the pioneers thus positioning the brand to becoming the biggest thing in the crypto market arena.
Disclaimer: I earn FMT tokens to discuss with and educate others about FMT and Ecryptostore, and you can too! Anyone can join from now until August 15th. Let’s get the conversation started about buying and selling goods with crypto! Click here to join. Any quotations above cite the whitepaper directly. This is not financial advice, and you should do your own research before participating in any sort of investment.