Sydney, Australia, Wednesday 23 May 2018 – Ecryptostore recently launched a feature-packed ecommerce site and is currently in ICO pre-sale with the token that will power the platform, Free Market Token.
Co-founded by Nathan Burns, Austin Lewinsmith and Rafael Bergola – with significant business experience, including founding The School of Blockchain. Along with an all-star advisory team – including David Dabscheck CEO of GIANT Innovation and Joseph Chua the youngest CEO for SANYO in South East Asia, and a large and experienced development team with over 60 years’ experience between them, FMT and Ecryptstore is positioned to change the way we buy and sell goods online.
The Ecryptostore platform is operational and allows users to buy and sell goods and services globally with fiat or cryptocurrency. The iOS and Android app releases are expected in June 2018 along with version two of the platform.
The FMT token will power the platform’s payment system, enabling a peer-peer decentralised service, designed to protect both buyers and sellers. The platform forms a bridge between fiat and a variety of cryptocurrencies and is coupled with a powerful referral reward program to encourage network adoption, and incentivised merchant curation.
“The traditional ecommerce platform, a multibillion dollar industry, is currently dominated by a small number of juggernauts like Ebay, Amazon and Alibaba. Ecryptostore aims to capture a small percentage across this traditional space whilst positioning ourselves as a dominant leader in the ever-expanding cryptocurrency space”, says Nathan Burns, Co-founder.
Ecryptostore is the ultimate link between cryptocurrency and real-world application and provides a simple on-ramp and off-ramp for users. The platform has been designed to be simple enough for a first-time cryptocurrency user, yet powerful enough to support experienced enthusiasts and ecommerce merchants. The NEM-based FMT token is backed by the value of actual goods and services transacted through ecommerce; which is a trillion-dollar market annually.
The FMT token can be used on the platform (to reduce transaction fees), staked (to elevate seller and affiliate status) or exchanged on the platform (for goods or services). Importantly, by using FMT tokens, merchants can avoid the exposure of market price fluctuations and processing delay times associated with typical escrow services.
Think Ebay or Amazon for Crypto, where merchants are protected from price fluctuations with FMT. Merchants are paid in their desired cryptocurrency, able to cash in instantly by holding FMT in escrow until the transaction is complete.
A tiered subscription/preferred staking model provides a continual revenue stream for the platform and demand for the token. Ecryptostore aims to provide a gateway of fiat into crypto, enable buyer flexibility, encourage mainstream adoption and enhance the entire crypto ecosystem. This FMT token sale allows early adopters and supporters an opportunity to secure FMT tokens at a discount rate, open an Ecryptostore merchant account, reduce transaction fees, earn commissions on referrals, and buy/sell goods with cryptocurrency.
Ecryptostore is offering 250,000,000 FMT tokens for public sale with a hardcap of USD$12Million. Funds raised will be used to further develop and integrate the platform’s cryptocurrency payment gateway, provide liquidity for the buyer’s and seller’s protection service and expand features. Global expansion will commence via aggressive marketing and multiple language translations. The goal is to provide a stable platform where buyers and merchants can transact with cryptocurrencies in a peer- to-peer manner with the safety and protection of a central payment processing system.