Open Collectors Network initial coin offering (ICO)

The Future Protocol for One-of-a-Kind Tokens



The possible uses cases for unique tokens is almost endless. We have several that are already implemented and more that we have thought about and working on. But more importantly, it's the ones we didn't think about that are most exciting: our platform is open to everyone and we expect innovative ideas to be implemented on top of our platform, especially since it abstracts away all blockchain related complexity.

3.7
8 8 expert ratings
3.9
3.6
3.7
3.3
View rating distribution
Starts in 10 months ago
2018-10-07 - 2018-11-04
Token
ECTO
Type
ERC20
Bonus
Available
Price in ICO
0.00015-0.00016 ETH
Platform
Accepting
ETH,
Soft cap
3,000 ETH
Hard cap
15,000 ETH
Raised
0
preICO start
Aug 5, 2018
preICO end
Sep 30, 2018
ICO start
Oct 7, 2018
ICO end
Nov 4, 2018
More on ICO
Report

About Open Collectors Network ICO

Open Collectors Network is the first decentralized platform for one-of-a-kind tokens, where everyone can seamlessly own, create, customize, interact with and trade individual tokens, on an open market, based on existing standard specifications.
The more read about the blockchain, the more we saw the beauty in it, and we knew that’s what we wanted to do from then on. But at some point it hit us: all the coins out there were just currency, and like money, they’re fungible. Whereas in our daily jobs, writing code is all about working with things that are non-fungible: like the list of company products, users, roles, services and so on. The list of possible use-cases for unique tokens is virtually endless: the entire IT industry depends on it, and if they converted to the blockchain, they’d get all the benefits decentralization brings: security, transparency, trust and the ease of attaching monetary value to something (virtual currency).
 
Non-fungible vs fungible
Best way to explain how we understand this concept, and how it applies to our project, is by example. Imagine you printed 1000 flyers and are handing them out on the street. You don't care which flyer you hand out from the stack, because they are all identical: same size, same content, same purpose etc. This collection of flyers is said to be fungible and it's equivalent to current crypto currencies: if you send someone 1 coin, it doesn't matter which one from your wallet it is, any one coin will do.
But let's consider now, another collection: paintings by famous artists. Already, we can tell a difference: though all of them are paintings, if you wanted to buy one, you wouldn't just pick randomly. You like some more than others, some are more expensive and so on. They're unique (nonfungible), as they are all one-of-a-kind and it does matter "which" one it is. 
 
Use Cases


  • Public: Individuals or groups can tokenize unique things of value to them, for personal use.

  • Auction houses: maintaining their inventory on the public ledger to increase trust among its client base.

  • Virtual object marketplace for content creators: The ability to buy digital assets with the intent to use them within a game or within the development of a game is possible through leveraging the ERC721 standard. This means the marketplace offers the tools for game developers to sell their creations or use those creations for further game development.

  • Digital media and rights marketplace: It is worth noting that any digital media could be represented here. This could be a graphic, image, music, book, or anything else that one may want. For example, any artist, writer, musician would be able to sell their asset, as long as it was digital to anyone who wanted to do purchase the asset. Going further, digital rights relating to the ownership of the digital media can be bought and sold via the marketplace. The latter has the benefit of circumventing digital rights auction houses and significantly reducing cost of transacting and the fees related therein. Small creations, like a brand-name, or a logo can be directly held on-chain, whereas larger ones can be stored anywhere on the cloud, and only a hash of their value stored on the ledger. This brings the best of both worlds: cheap/fast storage and full accountability.

  • Trustless ICO investment pool: It is quite common lately for groups of individuals to pool together small amonts of virtual
    currency, in order to participate in the private sale stages of an ICO, where there is a mandatory
    minimum investment. Most use plain old Excel sheets to keep track of contributions and distribute
    tokens after the sale, by having an owner/manager do the transactions. Needless to say, this is
    less than ideal, and there’s been quite a few cases of things going bad. An ICO pool is certainly a
    non-fungible token, where its unique attributes are the token sale address and the token contract
    address. In fact, this will be our first implemented use-case. At the time of this writing, it is currently
    in testing phase.

  • Gaming platform: certain types of games, like Magic: The Gathering© or in-game collectibles like a Dragon Lore AWP skin in Counter-Strike©, can be held on the public ledger, increasing accountability and transparency for the owning company. It also makes it trivial to attach & value (virtual currency) to any item.
    Business sector: any freelancer or business can easily tokenize their personlized products (like a car, an article or hand-crafted items).

  • Discounts: partnerships with companies which can tokenize their products; let's take for example a user which lives and breathes Apple products; he will create/buy different Apple unique tokens, at which point he, or even we, can approach the company and obtain discounts for him as a reward.

  • Embedded: features like 'Facebook like button' that can be easily put up in place using only a script tag on your website.

  • User identity: Our platform aims to partner with a KYC solution, where after a user has his identity verified, a unique token for him is created on the blockchain. Whenever the user needs to verify his identity with another web site, he can use Metamask to sign a transaction verifying he is the owner of the token with all his information and the web site can double-check using our API. The same can apply for the more ordinary use case of logging into a website and it would work in just the same way as logging in with Facebook or Google, except it would be decentralized and you would own your credentials, not a 3rd party company.

  • BlockchainCollection: One of the most basic and common patterns in coding in general is using a collection of objects with different attributes. Standard ones include array, list, dictionary, hashmap and there are many open source libraries which provide specialized collections (think C++ Boost, .Net C5 etc). Our platform will provide such an open-source library with collections that store objects on the public ledger, bringing with it all the benefits of decentralization while abstracting away all blockchain complexity. All that would be needed is just a wallet capable of signing transactions.


Our idea incubator will allow literally anyone who has an idea or a need for interacting with something that is unique or rare, to share his idea or simply support others’ ideas that he likes.
 
ECTO token
Operations on the platform are done using our own coin, the ECTO. It is needed to ensure fair usage of the platform and avoid spamming and overloading of the Ethereum network, especially with regards to the creation and trading of unique items.
In addition, having ECTO in your wallet also offers several benefits, according to a special proof-of-stake algorithm: 

  •  Discounts for all operations. 

  •  Voting rights for features that the platform should implement first. 

  •  Airdrops given out periodically, in the form of ECTO airdrops, based on a combination of activity on the platform and the amount of ECTO you hold.


25% activity is measured in relation with the total activity by all users of the platform. 
75% ECTO stake refers to the amount of ECTO you have in your wallet at the time of calculation.
This mechanism will be fully implemented into smart contracts, for added transparency and accountability.
 
Token metrics

  • Total supply: 150,000,000

  • Sale supply: 97,500,500 ( 65% )

  • Advisors: 15,000,000 ( 10% ) - released in batches 

  • Founders: 15,000,000 ( 10% ) - vested for 12 months

  • Company: 19,500,000  ( 13% ) - used for partnerships & future ECTO related events

  • Bounty & Airdrop: 3,000,000 ( 2% )


 
Sale metrics

  • Soft cap : 3,000 ETH

  • Hard cap: 15,000 ETH

  • Funds allocation

    • Development: 37%

    • Partnerships: 30%

    • Marketing: 20%

    • Legal & Operations: 10%

    • Unforseen: 3%



Open Collectors Network reviews

Reinhard Berger
CEO Pecunio Blockchain Technologies
Rated on Feb 23, 2018
4
5
4
11%

Dan did a great job explaining the USP of their project.

After all, I have to upgrade the rating, since it seems a truly unique approach to me. Great Vision!

However you guys could do some extra pitching work. The project would surely benefit..

Overall, great potential when you are willing to dig a little bit under the surface.

Igor Karavaev
ico advisor and investor
Rated on Apr 28, 2018
3
2
2
8%
Amarpreet Singh
Blockchain & ICO Advisor | Fintech | Innovation | Machine Learning | AI | Speaker & mentor
Rated on Feb 27, 2018
4
5
4
4%
Shaf Madina Zaman
Founder - Crypto Society, ICO Advisor, Marketing Consultant, DayTrader, BlockChain Enthusiast,
Rated on Mar 18, 2018
4
5
4
12%

I see a lot of potential in this one, please prove me right. It could be a big one for sure

Vlad Skakun
Cryptocurrency Enthusiast | Senior Analyst at Venture Fund
Rated on Apr 5, 2018
3
3
3
5%
Eugene Podkovyroff
Investor, Decentralized Economics Researcher, Crypto Visionary, FinTech Pro, Startup Mentor and Advisor
Rated on Apr 7, 2018
4
3
3
11%

The team is interesting and contains several very skilled professionals. It may be strengthen on the Economic and Financial sides thought.

OCN has an interesting vision elements and some uniqueness in the market positioning.

My general concern is that both idea and the product are formulated in the extremely broad manner. That will likely cause fails with real customers and may stop from getting them at a reasonable cost. Neither of what is listed in the "Use cases" section of the WP won't qualify as a use case from the business standpoint (must be a realistic list of actions to achieve a goal of an agent), so we can't seriously consider them. And that is the problem with almost everything about this project: WP is shady, it has very little useful information, but mostly general or trivial data; tokenomics is not properly supported neither it is disclosed enough; legal overview is missing completely, go-to-market strategy can't be found etc.

Cem Goksel Ozargun, MA, PMP, CSM, PSPO
Blockchain Advisor, Blockchain Expert, ICO Investor, Product Manager, Project Manager, Trader, Lecturer, Jack of All Trades
Rated on Aug 3, 2018
3
3
3
12%

Platform for non-fungible item trading... Idea and the website are definitely very cool.

Regarding the token sale structure, I think the allocations are wrong.

Team: 10%, Advisors: 10%, Company: 13%.

You are already taking 33% of the contributions. I think that's a bit too much.

I also don't think the product will be successful in convincing people to use the platform.

Thus, my scores are:

T:3
V:4
P:3

PlumBot
ICO Analyzer Bot
Rated on Sep 29, 2018
0
0
0
37%


Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

Open Collectors Network ICO price

Price in ICO

0.00015-0.00016 ETH

Open Collectors Network (ECTO) crypto

Open Collectors Network coin

Open Collectors Network token
ECTO
Open Collectors Network type
ERC20
Open Collectors Network platform

Open Collectors Network (ECTO) value

Tokens for sale
97500000

Open Collectors Network investment info

Accepting
ETH,
Min. investment
0.1 ETH
Distributed in ICO
65%
Soft cap
3,000 ETH
Hard cap
15,000 ETH

Open Collectors Network whitepaper

Open Collectors Network team

Apply as an advisor

Sabin Girlea

Director of Operations

Advisors

Cristian Tamas

Senior Esports Manager

Advisors

Mike Boutwell

Founder cryptoadvisors.io

Advisors

Open Collectors Network milestones

1
April

WePower idea

2
December 2017

WePower idea

3
January 2018

WePower idea

4
March 2018

WePower idea

5
October 2017

WePower idea

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