Hello! I am Alex, CEO @ Snapup
In the next couple of days we are going to release a lot of content and material to further explain the platform because we've seen that people tend to get confused over what snapup is and isn't
I understand that the concept is fairly new, so let's reiterate on the Value Proposition:
Snapup is a platform to shop for premium products that offers an auction-like experience; But unlike traditional auctions, where the assignee is always the highest bidder, on Snapup the assignee is determined by our meritocracy based rewarding algorithm, The more active you are on the platform, and the higher you bid, the bigger your chances are to be the assignee for that auction. The bid is comprised between 10% and 20% of the Retail price of the product, and for each event there’s a maximum of 300 participants on average.
Our mechanism is able to estimate the amount of "desire" or "will" of a customer to obtain the product, via a point assignation algorithm.
Every action the users do on our platform is awarded KARMA points. Some examples might be:
1 - Joining a Snapup:
Joining a Snapup is awarded the most karma points because in doing that, you are helping other obtain huge discounts on the products, while of course, trying to get the benefit for yourself
2 - Inviting a friend to join
Speading the word is rewarded
3 - Buying Snapcoin
The more people buy Snapcoin, the more the value of Snapcoin raises, and the more Snapups our customers can join with their current amount of Snapcoin, since the price to join a Snapup is calculated on the EURO counterpart of the Snapcoin, at the current Exchange rate.
HOW DO WE BUY THE PRODUCTS?
There is no retailer offering us discounts. Snapups are like payed auctions. You pay an amount of Snapcoin to join a Snapup.
Snapcoin will also be immediately listed on all the major exchanges at the end of our ICO.
The revenue derived by the Snapcoins sold by Snapup both to investors on exchnges, and to customers on our platform, is used to purchase the products in FIAT currency for Snapup's Assignee.
Snapup is a Sharing Economy platform. This economic model allows people to make the most out of their money. Share their wealth in a mutually beneficial and meritocratic way.
Our mechanism is finely tuned to allow an healthy turnover in the victories, rewarding the ones who are most active but also leaving good chances for people that just joined. This mechanism is unique and we are waiting for patent approval over it.
COMPETITORS:
Alibaba and Amazon offer completely different services from Snapup. They are Online Retail Stores; Snapup is not set to compete with them.
In fact, Amazon will be one of our main Retailers.
SHIPMENT
Snapup doesn't hold a warehouse. We are a DropShipping Company.
Our partner retailers will handle the shipment of the products.
If none of our retailers is able to reach the Assignee, the order will be handled by our order-matching system
that crawls the web for the nearest, top-rated retailer able to ship the product to the Assignee.
IS SNAPUP LAUNCHING WORLDWIDE?
Snapup has no country barriers. Our mechanism is created to work worldwide from day 1.
There are no custom fees to be payed, since the products are shipped to the assignees from their LOCAL RETAILERS.
If the assignee resides in China, our order-matching algorithm finds a Chinese retailer that ships that particular product, and places the order, with the
credit card details of Snapup, and the Shipping Address of the Assignee.
We only place orders to TOP Retailres. If we don't find a retailer in the specific country, we look for nearby retailers.
EG. If a customer resides in Cyprus, we are going to ship from Greece or from Italy.
Of course we will allow ourselves the time to perfect this mechanism, officially launching in Europe first.
Operating in a country means we are actively seeking customers in that country, but if someone from outside of our official operating zome hears about Snapup
and wants to join, he can do it. And when he happens to be the assignee of an event, we will ship the product to him, just like all the other customers.
INVESTMENT
We are receiving the attention of big institutional investors that are most likely going to join our presale.
On that matter, we want to tell everybody that no special treatment will be reserved to anyone.
Tokensale will start on Monday August 28th at 12:30 UTC +00
We are doing this in order to allow everyone the opportunity to join our presale and benefit for the 20% bonus on our tokens.
In the next days we are going to release many videologs and news, and also the Open Sourced version of our Crowdsale Metrics System on GitHub.
If you are the manager of a company who's launching an ICO and want to learn more, don't hesitate to contact us privately!
Talk very soon!
Alessio Cozzolino
Great, this can answer almost all the questions lately.
Good to see that you go worldwide from day 1, well its not really hard if youre a dropship company
