CoinShare, a London, UK-based collaborative social shopping platform, has announced its Initial Coin Offering.
The startup has already raised over €2m in their pre start sale from local and international investors.
CoinShare plans to use the proceeds from the next to start token sale to finalize and launch their platform.
The token sale follows a 3 day launch event in Barcelona held in the first week of October, which has seen over 200 entrepreneurs and contributors participated attracted by the project. The event was organized by CoinShare’s parent company, Rocket21, which provides learning programs about Blockchain. Other events took place in Lugano, Milan, Rome, Turin and Madrid.
Co-founded by experienced entrepreneurs Luigi Maisto, Roberto Re, and Daniele Viganò, CoinShare is a blockchain-based collaborative social shopping platform that allows buyers to receive a CashBack in cryptocurrency for each purchase made and, by way of an addition, even for purchases within their own community.
The stores, both physical and online, have an interface to increase their customer base thanks to the community and accumulate and earn from purchases made by their customers in the stores of the circuit.
All participants in the CoinShare community are called “Sharers” and receive extra earnings every day thanks to an algorithm that rewards the most active participants.
With CoinShare, buyers receive a portion of the money spent in the form of credits in cryptocurrency. The greater the number of members in buyers’ community, the greater the chances of earning. They can generate gains from purchases, from those of their community, from the sales and affiliations of the stores that they will enrol in the circuit.
For sellers, the system generates a network of loyal customers who promote their store for free and increase their turnover. Thanks to CoinShare, a given business will have instant access to a community that already numbers over 350,000 members. In addition, a platform will support sellers in attracting and retaining clients via web marketing services for further promotion.
The token can be sold, exchanged in fiat currency and used within the platform created by the community, which leverages the blockchain to grant transparency and traceability. With already over 1.500 active stores in the platform, CoinShare aims to become a marketplace to acquire basic consumer goods such as oil, food, books, apparel, travels, sports activities, events, technology and other services.
The startup also supports Charity, an African project focused on collecting and recycling plastic through Blockchain technology. 1% of the procceeds coming from the ICO will help build a village in partnership with Progetto Famiglia, based on making houses via “Ecobricks”.
For further information on the ICO, go to CoinShare website