CleverPlace Plans First Blockchain Marketplace with Cashback
With the blockchain revolution taking the world by storm, every day it is becoming more and more apparent that there are very few niches that cannot be tokenized and benefit from it. The team behind CleverPlace has recognized the need for a large, open-source marketplace on the blockchain. The existing marketplace ICOs are predominantly focused on crypto trading and they lack certain key mechanisms to incentivize buyers such as the cashback reward program, which has been used by credit card companies for decades.
CleverPlace is building a large marketplace, starting with the real estate market in France, where 70% of the platform’s commercial margin will be given back to the users as a cashback reward. Since CleverPlace is a community-based marketplace, it can afford to do this without impacting the final price, which means that the sellers will not have to bend over backwards to accommodate CleverPlace.
While this sounds like a great idea, let us go over some details and see how CleverPlace hopes to accomplish its goals.
There are two things that are particularly innovative about CleverPlace: the cashback mechanism and the fact it uses blockchain technology, with the utility provided by CleverTokens.
Why cashback? Simply put, it is a good way to make users want to use the service and purchase goods on the CleverPlace marketplace. Just like all other brokers, CleverPlace, too, will collect a commercial margin on the referenced products and services. The only difference is, CleverPlace will keep only 30% of that margin, while the rest will go to the buyers.
How will that work?
Customers will be rewarded with CleverTokens for using CleverPlace. When they make a purchase, they will be able to exchange the tokens they have for a cashback reward. Those very same tokens will then be given out by CleverPlace to other community members as rewards for using the marketplace – and the cycle continues. CleverTokens will also fuel a number of features on the CleverPlace platform.
CleverPlace & Real Estate
The French market of newly built real estate was chosen as the first market to be implemented on CleverPlace. The market was chosen due to its potential (turnover: 10 trillion USD globally, 60 billion EUR in France), as well as due to the fact that it lacks a major unified marketplace.
Instead of multiple websites with scarce information, incomplete offers, numerous intermediaries, and no online reservations, CleverPlace will offer all the information and utility that a buyer could want in a single platform. Apart from exhaustive documentation, detailed listings, direct offers instead of intermediaries, and online reservations, CleverPlace will support virtual tours (3D & augmented reality), and it will also reward its customers.
Thus, CleverPlace combines the potential of the French real estate market with the opportunities provided by online marketplaces. 350 000+ new housings every year with a marketing margin of 6-14%, taking full advantage of the Internet, which generates 80 billion EUR per year in sales in France alone.
CleverPlace – Why Blockchain
By launching CleverToken, CleverPlace will both disrupt the opacity of construction markets and provide rewards to its users.
CleverPlace will be a community marketplace, where members will review all products and services and vote on major changes.
Customers will benefit from increased transparency, easily comparable prices, a large marketplace (more than 2000 properties at launch), and a clear and immediate benefit in the form of cashbacks. The service itself will be free both for customers and suppliers, whose net price will remain unaffected by the cashback. They can also count on better financial turnover, advantage compared to the competition, faster sales, and greater proximity to customers.
Apart from that, CleverPlace decided to use blockchain primarily because all records are stored and distributed, which makes them impossible to tamper with, and everyone can check their validity.
Smart contracts are another key advantage, and they will allow CleverPlace users to identify other members, join the community, rate and comment, vote on key decisions, and make reservations.
The platform, on the other hand, will benefit from unparalleled transparency, automatic actions, simplified litigation management (the community resolves disputes), as well as features such as promotions and mentorships.
CleverPlace Token Specifics
The CleverPlace marketplace will be based on the Ethereum platform. As previously mentioned, the token will be called CleverToken (CLVR). A total of 600 million tokens will be created, but only 210 million (35%) will be sold during the two phases of the ICO. Of the remaining tokens, 52% (312 million) will be kept in reserve by CleverPlace, 10% (60 million) will be given out to contributors, and 3% (18 million) will be kept by the team. Only the tokens sold during the ICO will be used, while all other tokens will be frozen for a period of 3 years. The initial price of one CLVR token will be 0,00025 ETH.
The presale will take place between August 14th and September 10th, in two rounds, with 45 million CLVR sold in each round (90 mil. total).
After a waiting period of one week, the sale phase will start and last four weeks, from September 18th to October 15th. Each week will be a distinctive round, with 30 million tokens sold in each round. All buyers will be awarded a discount/hold bonus from 25% to 2,5%, based on how early they joined the presale or the sale. Buyers who join first will get higher bonuses.
To launch the platform, the team will have to raise 4 to 10 million EUR. However, if CleverPlace hopes to become the leading real estate marketplace in Europe, the ICO will have to be very successful, with $40 million EUR raised.
The money will go towards creating and deploying the platform, creating smart contracts, implementing various products and services, engaging the community, and promoting the platform.
Ultimately, within a year from now, the team will develop an open-source version of CleverPlace, which will function as a universal e-commerce platform to be deployed on any market, not just real estate. The core principles of CleverPlace will remain the same, with CleverTokens used to receive cashback rewards, and the tokens recovered redistributed to community members.
Even a moderate success will turn CleverPlace into one of the leading real estate marketplaces in France, and if the concept catches on and spreads to other markets, CleverPlace will become an e-commerce giant to rival Amazon, but with end-users, and not corporations, benefitting the most.
In case there are still some questions left unanswered, please refer to the following section, where we got the core members of the team to answer several questions that were of interest to us.
Q: What is the idea of the project? (include problems on the market and the solutions your project brings)
A: CleverPlace will introduce a new model for marketplaces that focuses on providing value to buyers by returning them cashback on their purchases.
Our goal is to build an open source platform that can be deployed on any given market, following our vision and using our token.
Q: What are your team’s strongest points that will help this project succeed?
A: We have 20 years in developing real estate, mortgages, software designing, etc., and our pilot market will be launched in the real estate development market.
Q: What is the current state of the project? Comment on your roadmap.
A: We will have a beta running in 2 weeks and a minimum viable product (MVP) in August. Next year the open source version will be started.
Q: Who are your partners and how does each of them contribute to the project?
A: Each partner is focused in a different area of our first market from VR designing specialized in real estate to direct marketing or mortgages. Every partner brings us full knowledge on an important part to be successful.
Q: Who are your advisors and why did you choose them?
A: David Szabo is the only blockchain advisor we have, he was at the start of cofund.it
Q: Who are your main competitors and what are your key advantages?
A: There is no real competition as we are completely changing the approach on real estate development at least.
Q: Describe the utility of your token.
A: It’s used to get cashback corresponding to 70% of the margin during a transaction.
Q: Why do you need blockchain for your project?
A: To give transparency and trust around prices, cashback and community reward.
Q: Who are your key strategic investors and why did you choose them?
A: Just starting that part so no major investor yet, so far everything has been paid for by the team.
Q: What is the highest bonus you allocated for your strategic investors?
A: We haven’t worked this out yet, but we won’t have a bonus higher to 50% in any case.
Q: Provide links to the main mentions of the project in the media. Also list all important speakerships.
A: As we’re just getting started we don’t have any.