01 Mar, 2018, 07:40 ET
MENLO PARK, Calif., March 1, 2018 /CNW/ -- Mavatar today announced the pre-sale II ICO launch of rights to acquire mCart tokens, which are scheduled to be available by May 2018 through Ethereum blockchain as an ERC-20 token. mCart will be a revolutionary decentralized platform that restructures the dynamics between shoppers, retailers and influencers in a way that will track and shorten the discovery to purchase cycle leveraging the power of blockchain technology. Using the smart contract capabilities of the Ethereum blockchain, mCart will create mCart-driven marketplaces and transparent shoppable content publishing platforms-as-a-service through which marketers will be able to leverage influencer marketing to transparently and verifiably promote products to shoppers, while giving each participant the right financial incentives to participate in the ecosystem.
Despite the fact that influencer marketing is one of the most effective channels for reaching shoppers and the fastest growing, the adoption and scaling of this channel has been full of challenges for both retailers and influencers. After years of development beginning with the founders' research in Stanford GSB, mCart technologies expects to be the leader in streamlining the process of closing the gap between online and offline shopping, sales and advertising for retailers, influencers, and consumers. mCarts can turn any type of content, from an Instagram post to movies and real world events and places shoppable. Through mCart, the retail marketer will be able to set budgets, reward to value ratio, dictate which influencers can participate and allocate the necessary funds leveraging blockchain and mCart cryptocurrency. The influencer will then have the ability to decide which offers on the blockchain they want to promote. When a shopper engages with an mCart offer, that shopper will be rewarded by mCart token for verification of the purchase. mCart will disrupt the traditional affiliate networks models, removing the middlemen and back office bottleneck of settling micro payments to influencers and loyal shoppers.
Mavatar long-term investors, management and advisory team include well-known names such as the former CPO of Facebook, former CEOs of Macy's and YSL/Apple EVP, former California Controller and ebay VP of marketing, Stanford professor, Oracle Blockchain VP, Edelman Managing Director and EVP, Zoosk founder & CEO, Polymath CEO & Ethereum investor, CEO of eaccess, former Rakuten CRO, ABC Head of strategy, among others.
The mCart token is scheduled to be deployed to the Ethereum blockchain in May 2018 as an ERC-20 token with a fixed supply of 100 million tokens. Mavatar is currently holding a token presale process, anticipating a launch and introduction of the mCart token before the end of the scheduled timeline. Of the 100 million total token supply up to 40% will be made available during the presale and an anticipated public ICO.
The ICO will occur in up to three phases, The first phase of the mCart Protocol ICO presale took place in December and included investments from CollinStar Capital PTY Ltd., Candou Angel Network LLC., Blockchain Ventures as well as other professional investors and entrepreneurs specializing in digital assets, cryptocurrency and Blockchain enabled infrastructure. The first phase raised 2200 ETH and paused after two weeks for the company to develop an in-house comprehensive solution for token pre-sales and post-ICO management, to ensure the maximum security. The second phase is now commencing and involves a presale of the right to acquire mCart tokens. The third phase, if conducted, would involve a public crowdsale of mCart tokens, and would be expected to take place commencing in the second quarter of 2018.
"CollinStar is one of the pioneer funds that have realized the growth potential of the blockchain industry, which we believe is set to disrupt and effects the world around us maybe even more than the Internet did decades ago. We're looking forward to continuing to work with our partners in Mavatar and their world-class advisory board – to harness the opportunity of closing the gap between online and offline worlds presented by mCart blockchain-based technology," CollinStar Executive Director, Jayden Wei said in a statement.
To join the mCart Tokens whitelist, visit the mCart protocol website here. You can also register for our LIVE webinar on March 1st, 2018. The pre-sale of the right to acquire mCart tokens in the U.S,. is being offered only to accredited investors on the basis of an exemption from registration under Rule 506(c) under the Securities Act. Prospective investors are advised to read the private placement memorandum and related documents before investing.
About mCart Protocol by Mavatar
mCart Protocol by Mavatar, is a decentralized influencer marketing attribution platform that addresses the needs of shoppers, influencers, and marketers by leveraging the smart contract capabilities of the Ethereum blockchain. Using these smart contracts, marketers and influencers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem. mCart platform is a smart, social, omnichannel, monetizable platform, which integrates seamlessly to the Retail eCommerce and provides all sorts of social sharing of shopping carts, price reduction notifications, latest and most up to date discount coupons, featured articles, store sales person chatting, AI backend and many more features, and gives monetary incentives utilizing mCart Tokens to the Market influencer and the shopper, once the proof of purchase has been posted. It will become like Uber in near future, instead of driving people to places, it will drive shoppers to Brick and Mortar shops by way of monetary incentives and socializing!
mCart by Mavatar Contact:
Email [email protected]
Phone number: 650-701-0007
SOURCE Mavatar Technologies
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