What is Open Collectors Network?
Open Collectors Network has a really interesting business model. Their platform will allow users to create “non-fungible” coins. While all coins will be based on the ERC-271 protocol and run on the Ethereum network, these coins will have a custom signature and be completely unique to their creators.
Non-fungible coins are completely unique to their creators, as opposed to traditional currencies such as Ethereum. If you are trading your Ethereum from a wallet, it doesn’t matter “which” token you trade, as they are all the same. However, with a non-fungible token, creators can put their own personal stamp on each coin that will serve as their “signature.”
- Trading Platform: Open Collectors Network would create the world’s first trading platform for non-fungible coins. Tokens that became very popular would increase in value and users would have a way to make some serious profits.
- Create Non-fungible Coins: Using Ethereum as a cryptocurrency is all well and good, but it’s not individualized. Open Collectors Network provides a way for an individual or an organization to put their personal stamp on each token.
- Multiple Real-World Applications: Non-fungible coins can be used in just about any application from online gaming to selling cars.
What Issue Does it Solve?
One of the biggest problems with the blockchain today is that it’s not very accessible or understandable by the general population. If you want to get them engaged and excited about blockchain, then you have to provide a way for them to engage with the network in a familiar manner. Open Collectors Network achieves this through allowing anybody to create their own coin on their platform with no programming experience whatsoever.
For instance, a car salesman could create his own special tokens that he could distribute to loyal customers for them to use on things such as free repairs, upgrades, etc. Another instance could be auction houses who price all of their inventory based on an individualized token that utilizes Ethereum’s secure ledger.
Token Sale Information
- Whitepaper: https://opencollectors.network/layout/OpenCollectorsNetwork
- Token name: ECTO
- Accepted payment: ETH
- 1 ECTO = 0.00015 ETH
- Hard Cap: 15,000 ETH
- Soft Cap: 3,000 ETH
Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1760890
- Brings Blockchain To The Masses: By creating a platform for anybody to create their own non-fungible cryptocurrency, Open Collectors Network is making cryptocurrency a fun and individualized for everybody.
- First Non-Fungible Exchange: Open Collectors Network would be the first non-fungible exchange in the world. If users create a popular token, then it can grow in value, and they can make serious money.
- ECTO May Not Increase Exponentially: If you are looking to make some fast profits, this isn’t the ICO for you. ECTO will most likely maintain a steady value over the years and isn’t expected to pump massively.
Open Collectors Network has a really interesting business model that has the possibility to make cryptocurrency “fun.” Anybody can go on the network, create an individualized token, and then trade it with their friends. This ICO is best seen as a long-term investment. It’s not expected to pump massively, although investors do stand to make a considerable profit if they invest in the presale.