By Maria Yavuz
A company intends to change the ways of traditional advertising by creating a platform called WeBuy.
The idea is to allow what the company calls “buyers” to decide when and how the sellers of different products can reach them on-demand.
Shopper in the center
WeBuy believes that annoying online ads are one of the problems of the modern advertising market. Instead of increasing the interest of potential buyers, they get the opposite effect. The company believes its product can change the way buyers and sellers currently communicate by putting the prospective buyer in the center of the process.
The company says that the potential buyers are able to choose whether or not they want to see an ad on the WeBuy platform. They create a SellMe profile and specify the products or services they might want to buy.
The feature called “SellMe” enables sellers to localize potential buyers who have expressed interest in a seller’s products. Users create a profile when they want to purchase something, and the information is then sent to WeBuy sellers. The sellers located in the buyer’s geographical area will receive the SellMe profile of the potential buyer and can then reach out to them. The company can communicate with the potential buyers in real time.
With no commitment needed to actually buy the product, the buyers get rewarded in WBY tokensjust for being contacted by the seller. The users are encouraged to create and manage their own Buyer Referral Network (BRN). The buyers invite stores to join the platform and, after accepting this invitation, the sellers join the BRN. Every time a seller pays for advertising on WeBuy, the user who invited this company will get a share of this payment.
The platform will be linked to the public Stellar network and the WeBuy blockchain. The sharing model is based on a smart contract. The users can verify their transactions by a cryptographic key.
The startup assures that users have full control of their privacy and the information about them is never revealed to the sellers or any third party. The data and the operation records will be stored on a public, decentralized blockchain.
Geolocation and targeting
WeBuy highlights that the platform allows the sellers to reach their audience faster. When the users choose to see the ads by themselves, it helps the sellers target the right market.
Moreover, the sellers get rewards of their own, too. They are encouraged to join BRNs through a special grant, which is valued at $500 in advertising credits.
“Revolutionizing the token sale format”
In Q1 2019, the company plans to release a full-scale pilot of the platform itself. The first version will have basic functionality. The launch of the platform’s full version is scheduled for Q2 2019, together with adding social network features, anti-fraud systems and full Stellar integration. WeBuy has also announced adding seller-extended features, such as desktop support, networks of stores, community-based stores, Know Your Customer identification and customer-relationship management. WeBuy plans aim at additional platform integration, including Google Home, WIX and Shopify.
The startup says it is revolutionizing the token sale format by creating Production Oriented Token Sale (POTS) instead of traditional initial coin offerings (ICOs). The company is currently generating and distributing WBY utility tokens. The token sale will be split into several sales based on crowdfunding. There will be specific tasks defined for every POTS stage, which needs to be completed during a certain time frame. Applying POTS is supposed to help reduce the challenges that the companies and their investors face during an ICO. For example, there can be a lack of transparency regarding capital spending or raising capital that is not directly related to the startup’s current business needs.
The total supply of the WBY tokens will be 1 billion. Eight million are already on sale on the Stellar Decentralized Exchange for POTS Stage 1. The users can buy WBY with fiat and cryptocurrencies.
The tokens will “belong to the public,” so the majority of WeBuy’s digital currency won’t be controlled by any legal entity. WeBuy aims to be “completely open source” and to operate autonomously.