8th Continent is a social marketplace specifically built for China. This platform will be the first completely digital economy. Via the social marketplace, digital companies produce various digital goods and then trade these goods along with other assets using digital currency. 8th Continent has goals of equal opportunities, mutual benefits, transparency, and following free market trends. It will also take advantage of smart contract’s deterministic mechanism as part of the Ethereum blockchain.
A standout feature of 8th Continent is that it is a project ready for deployment. While many ICOs fundraise for a project that might not succeed in the future, 8th Continent already has a working system that has been tested during a successful pilot over the past several years. During this pilot period, the team made necessary improvements to the platform as the need arose, polishing their final product prior to the ICO. The marketplace will open on Aug. 8, 2018.
What Is the Zero-Sum Game Paradigm ?
One of the main goals of 8th Continent is overcoming the zero-sum game paradigm. This zero-sum game is the idea that total losses and total gains combine to zero. In other words, for one person to make a profit, another must lose. These types of environments can discourage users from participating for fear of losses or if they have lost in the past.
Instead, the 8th Continent Social Marketplace takes advantage of advertising to eliminate the zero-sum game issue. Each digital product will have a brand sponsor whose name automatically appears on the product every time. In exchange, the brand sponsors pay small advertising fees each time the digital products with their name are sold. That fee gets divided between the operator and users so the circulating funds on the social marketplace are higher than the total amount users invest.
What Else Should You Know About Branded Products?
If a user wants to sell a digital product, they can opt for an unbranded one instead of the branded versions mentioned above. There is also the option of becoming a marketer and selling those branded digital products to make some extra money.
What Other Advantages Does 8th Continent Offer?
The method behind 8th Continent Social Marketplace offers numerous advantages, beginning with the prevention of digital ad fraud. At the moment, companies seeking advertisements need to confirm that an ad publisher truly created their content and promoted their product. With 8th Continent, brands will actually be able to view the result of the money spent on digital ads. They can confirm that the ads in question truly occurred and their money was not just taken.
Advertisers and users alike will prefer the placement of ads within the 8th Continent platform over traditional online advertising. Instead of advertisements that distract from the overall user experience, the brand names are actually embedded into the natural environment of the product, providing an advertisement in a way that works with instead of against the user experience.
From an advertiser’s standpoint, this method is a useful way to confirm that users will see their ads. Branded goods are listed on the social marketplace with other unbranded items, meaning that users will naturally come across them and cannot filter them out. Instead, they will be automatically exposed to a company’s brand name. Additionally, the setup of 8th Continent allows both operators and users to make money.
Does the Marketplace Only Offer Digital Goods?
At launch, the 8th Continent Social Marketplace will only offer digital goods, but this will change in the near future. There will be integration with real-world products in 2019. Later in 2018, the platform will also see the opening of the 8th Continent Stock Exchange, which uses smart contracts. Digital companies on this stock exchange that reach the 8th level can get additional liquidity from the direct investors on the platform.
What Is ECB, and What Predictions Does 8th Continent Have for It?
ECB is the token behind 8th Continent. As such, it is key to using the platform. Those who want to trade on 8th Continent must hold ECB tokens. Because of that, the team foresees a strong increase in demand for the coin, which they feel will increase the price. Additionally, the circulating supply will always be the same as the quantity that existing and new users of 8th Continent buy without any token dumping.
When Is the ICO?
The 8th Continent ICO begins May 18 – June 8. There will be a total circulating supply of 88 million ECB, priced at 800 ECB per 1 ETH. There will also be a distributive crowdsale for 8th Continent users beginning Aug. 8, which is when the marketplace will open. This will have a total circulating supply of 800 million ECB, and the price will be the current value of ECB on the exchanges.
What Are Some Key Figures Related to 8th Continent?
Those familiar with traditional banking know that a transaction will take two to eight days. The Bitcoin blockchain reduced this to about 40 minutes, and Ethereum got it down to about two. 8th Continent does even better with instant transactions, so there is no need to wait. The transaction fees are also lower than the industry average, just 0.8 percent.
Only active traders can withdraw funds from the 8th Continent Social Marketplace. You must have 88 transactions and be active for 88 days. At this point, you can withdraw your profits in your choice of ECB, ETH, or CNY. Those who do not want to trade can instead invest tokens in the 8th Continent Equity Investment Trust. Each investment cycle is a year. After that, you can withdraw the funds and/or profits.
Conclusion
8th Continent has already developed a social marketplace and ironed out the kinks in the project over the pilot period in the last few years. As such, the marketplace should function seamlessly when it launches in August. This marketplace is a project to watch since it delivers the first completely digital economy. Those interested in the Chinese market should pay particularly close attention.
