The Preamble
A lot has been said about online product counterfeiting and how simplyBrand is using the SBA token as a fuel on a blockchain, artificial intelligence and crowd-source-based decentralized application to tackle the multi-billion dollar business and put the proliferation of fake products on e-commerce websites to a halt. While the counterfeiters only think about the economic gains, they end up constituting serious economic and reputation loss to the respective originals brands, possible economic loss and adverse health to users of such products and a complete nuisance to the global ecosystem by been a significant source of pollution. The good news is that a practical and innovative solution is on the horizon.
The SBA token
Just like the earth's ecosystem is powered by the sun, the simplyBrand's ecosystem is powered by the SBA token which is like a voucher that can be exchanged for goods and services on the decentralized platform. On one part, the token can be used by brands and third parties to purchase brand protection and information from the platform respectively and on the other part, it is also used to incentivize the human layer and the enforcement agencies part of the simplyBrand's ecosystem.
The incentivized parties can either choose to use their tokens to buy privileged goods provided by protection seeking brands or convert to other forms of money on digital assets exchange platforms. If you wish to further understand how the SBA token is used to drive anti-counterfeiting activities on the simplyBrand's platform, you can read this article on end of the road for brand theft as simplyBrand proffers solutions to online product counterfeiting.
There is no doubt that the token represents a store of value that is bound to appreciate as the fight against online product counterfeiting by simplyBrand goes mainstream and gets adopted by top brands in the world. Why do I think top brands would eventually buy into this innovative approach? It is quite simple, every serious brand currently has some activities to checkmate counterfeiters in their production and marketing lines. These activities which are quite capital intensive have somehow fallen short in achieving the set-out goals and objectives as more and more counterfeit products flood the online marketplace and counterfeiters keep smiling to the bank.
The mainstream adoption of the brand protection approach by simplyBrand will definitely create more demand for the SBA token which will drive the price up in the face of fixed supply. My economics knowledge might be a bit rusty but I certainly still remember the relationship between the demand, the supply and the price of a commodity. Little wonder that the pre-sale received 4.6/5 and 4.8/5 ratings from ICO Bench and ICO creed respectively.
The ongoing pre-sale
The first phase of the highly rated SBA token sales has started since 10th January, 2019 and a lot of smart minds are already taking the advantage of the bounties available for early investors to enrich their digital asset portfolios. The pre-sale process is divided into 3 programs namely;
The first mover program which is made up of 14 stages with bonuses being available for highest investors in the first 11 stages.
The simplyBrand Ambassador Program which is a form of a program that allows top 100 investors who have accumulated the highest amount of SBA token from referrals during the pre-sale to share a pool of SBA token on a referral contribution basis. This program becomes effective only at the end of the pre-sale period and the SBA pool to be shared depends on the total amount of ETH raised during the pre-sale.
The referral bonus program which places a bounty of 1,000 SBA token for every valid referral.
The SBA token is ERC20 compatible and has a total supply of 1,000,000,000 with only 16% of the total supply being available for pre-sale. 1ETH will get you 4,000 SBA token on the dedicated exchange and the token has a total hard cap of 40,000 ETH and a soft cap of 4,000 ETH. The pre-sale would end either when the available token is sold out or by 23rd of March and listing on exchanges would happen by 31st of March.
If you are still wondering why I am going to invest in the pre-sale of the SBA token, read from the beginning gain!
Disclaimer: This is not a piece of financial advice. Please do your own research before investing in cryptocurrencies or any digital asset. This blog post is done for entertainment and knowledge purpose only.