What is CrowdToken?
iCrowdU created the CrowdToken to enable its business model, Consolidated CrowdFunding. Consolidated CrowdFunding gives people access to money from the crowd via a consolidation of any of the following products:
• CrowdLending = Lending money to individuals or businesses
• CrowdInvestment = Investing in businesses
• CrowdRoyalty = Purchasing a percentage of future revenues in businesses
• CrowdDonation = Donating money to businesses or projects
• CrowdPreSale = Purchasing (to be produced) products from businesses at a discounted price.
Consolidated Crowdfunding will be enabled upon completion of the iCrowdU blockchain, estimated in late 2019.
CrowdPromotion is the concept of offering the consumer and the producer the best value through the removal of intermediaries. As more units of a product are sold, the associated unit cost will drop.
Through CrowdPromotion, these savings are no longer lost on 3rd parties, rather they are redistributed back to both the consumer and the producer.
Following the promotion period, all products will move to the CrowdMarket.
The CrowdMarket will be the first phase of iCrowdU to go live and will offer users the chance to get great discounts on products through utilizing the CrowdToken. Initially, for every CrowdToken exchanged in a purchase, a 1% discount will be enabled, this will be applicable up to a maximum 15% discount per purchase.
Thus, the CrowdToken is the ultimate business model enabler for iCrowdU’s Consolidated CrowdFunding & the CrowdMarket.
iCrowdU has over 40 international investors and has to date raised approximately US $800,000 to help develop the organizational structure and website for iCrowdU, as well as to create and develop the CrowdToken blockchain solution.
iCrowdU (the creator of the CrowdToken) is registered in the USA and has wholly owned subsidiaries and banking facilities in Ireland, Hong Kong and China.