By
Kofi Ansah
September 20th, 2022
The rise of digital marketplaces has changed the way the retail industry is operated. Whereas before it was retail giants such as Walmart who used to dominate the market, now it falls short with a market capitalization value of $244 billion behind Amazon’s whopping $474 billion.
As little as fifteen years ago this would not have been the case. This has given rise to e-shopping over shopping in person. Since this industry is relatively new it remains open for new players to join the market.
Although in recent years customers have seen a great increase in customer support, accessible delivery options worldwide, and easy payment options, there are some issues with the current online marketplace.
Creating a Niche
Entrepreneurs and smaller brands trying to break through the ceiling undergo many issues due to antiquated processes developed decades prior for offline retail. Vendors can find themselves paying for the delivery to the storage facility, having to spend excessive time on procedures for agreeing on contracts, paying for marketing expenses within the sales channel, the list goes on.
Niche products have always been an issue to promote. The level of difficulty in promoting for a niche product is dependant on the age and the size of the niche. Whether it is a “fresh niche” with a target audience and a single retailer; a “young niche” which is broader and has been more identified however it remains unstructured or lastly, an ‘established niche’ which is much more grounded and structured than the former.
The Difficulties of Raising Capital
The most challenging stage for any entrepreneur or small company is the discovery or invention phase. Creating hype for a product costs a huge amount of money trying to get coverage to a wider audience leaving new producers penniless. Tech giants like Apple dominate coverage of the tech industry leaving startup companies with no way to get their product across.
Websites like Kickstarter have proven to aid start up companies. Many products have ‘gone viral’ giving them a seat at the table allowing them to grow as companies and sell their products worldwide. Kickstarter have successfully financed over 131,000 projects.
The question is however, how many companies have sold a second wave of products? Many never make it passed the first wave failing to build enough momentum. Creators need a more stable and consistent option.
Hamster Marketplace
Hamster Marketplace will be the solution to the issues stated above. Hamster Marketplace is a revolutionary, decentralized, non-profit platform that allows new producers and startup companies an opportunity to showcase and sell their unique electronic products to a hungry market without the need of a middleman. They launch their token presale December 11th allowing users to purchase their own Hamster Token.
The Hamster Marketplace project will let vendors who do not have the muscle to push their product onto current platforms like Amazon be accessible to millions meanwhile giving freedom to creators using the Emercoin open blockchain voting system to democratically control the outcome of their platform.
Companies dominating the current market like eBay and Amazon will not be able to provide the same transparency levels as the Hamster Marketplace due to blockchain technology. Intellectual Property of creators is enforced on the blockchain, guaranteeing users that there will be no cheap and copied version of their product on the market.
Hamster Marketplace has plans to go beyond the electronics market but for now wants to remain in that domain attracting buyers with a unique variety of gadgets and electronics alongside DIY products to fit the buyer’s need. For sellers it will give them a dedicated marketplace for their niche electronic products with minimal costs for advertising.
Hamster Market TGE
The funding for the Hamster Marketplace project will take place between December 11th and December 31st. Then ERC-20 Hamster Token labelled as the HMT token will not be a mineable token. The company has set a minimum level of funding at $2 Million USD, and in total 14,000,000 HMT will be created with 1,200,000 tokens available during the presale.
The token price will be set at $1.40 with a 20% discount during the presale. All the funds raised allow the company to follow their plan to create a fair and transparent marketplace for independent sellers. The Alpha version is set to be released by mid 2018, with the Beta following shortly after, by the end of the year.
