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Singapore based Runs.com has announced a presale for its upcoming eCommerce blockchain platform.
The company has already received $1,000,000 in seed funding from Panamax Capital, Beast Capital, and Columbia Angels. The presale allows everyday users to participate as well, with a 30% bonus for early birds.
There are two stages to the token sale, a presale and crowdsale where 75,000,000 tokens will be up for grabs. The presale ends in a little over a month, and so will the 30% bonus.
In total there are 180,000,000 tokens, with another 75,000,000 being reserved for the platform, 25,000,000 for the team, and 5,000,000 for a bounty program. Tokens are kept in a one year lock-in period for the team.
Runs.com was incubated in Columbia University’s Innovation and Entrepreneurship program, and will use proceeds from token sales to develop the blockchain framework, bringing transparency to e-Commerce.
35% will go towards growth and acquisition, 30% for technology, 25% for operations, 5% for admin, and the last 5% for investments.
Runs.com aims to build a global community, with immediate interest areas in 25 countries and 125 cities.
What separates Runs.com from other eCommerce platforms is the selling of experiences, rather than goods. The platform takes the industry standard SKU, which is used to track units for sale, and has replaced it with their own XKU.
The XKU, or Experience Keeping Unit, works similarly to a SKU, and can be assigned to physical and immaterial goods in one’s inventory.
Like a SKU it also reveals basic details about the product but it also adds 3 S parameters: story, source, and sustainability.
Speaking at the occasion Giri Devanur: Co-founder & CEO – Runs.com adds,
“There is a massive shift away from traditional e-commerce to experiences driven community commerce. No other company has managed to capture experiences and curate them in the past. With Runs.com we are looking to leverage the exciting Blockchain technology to allow people to share their memorable moments within the community. Initially, we will be focusing on Cricket, Cinema and Coffee enthusiasts around the world.”
This works especially well with Runs’ initial offerings of cricket, cinema, and coffee. More people are more conscious of where their coffee beans are coming from, and if it’s supporting fair trade farmers. Learning about a cricket team before watching that team play will make the consumer more engaged in the match, and reading a brief synopsis on a movie before watching it will give you a heads-up of what to expect.
Dr. Artit Wangperawong Co-Founder and Chief Technology Officer at Runs.com and Stanford alumnus stated,
“Blockchain technology is uniquely poised to disrupt a swathe of industries. At Runs.com, we’re developing the platform along with our signature XKU’s to address the needs of world commerce and to deliver the best experiences to people on one decentralised platform. We are committed to attracting talented individuals to join our team to make Runs.com the premier commerce platform across the world.”
These 3 parameters are displayed as blue lines added to a traditional UPC number, or barcode. Each parameter has a ranking from 0-9, with 0 being lowest and 9 being the highest rating. The platform is expected to go live in August, with build 2.0 in March 2020 and build 3.0 in March 2021.
To learn more about the platform, register for the presale, and read the whitepaper, visit their website. To get blog post updates, visit their Medium. To ask questions and discuss, check out their subReddit. Social media updates are made on Twitter and Facebook.