[ANN][ICO] SOMA - The Social Marketplace

[Yasemin]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

Hey , enough  .
You guys didnt realize it? SOMA >> SOcial MArketplace
But its also a guess 

SOMA doesnt sound like a girl name at all, I think its very neutral and probably abbreviation of social marketplace. I think its the perfect choice

[1714699502]

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[1714699502]

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[1714699502]

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[jonnytracker]

Google the name I think some Asian artist name will pop up . I know one Soma indian artist . Will not provide details though . It's crypto unrelated

[martinholly167]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

That is good news but i don't understand why anybody from Soma team comes here and makes an announcement about it and we are taking the news from their telegrams quote.

Anybody? Do you mean nobody?
Maybe they didnt hire someone to handle this thread page by page.

[Mystic90]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

I am happy to read that they will get burned! What caused the rumor to start that unsold tokens will be later sold on the marketplace?

[the_donald]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

That is good news but i don't understand why anybody from Soma team comes here and makes an announcement about it and we are taking the news from their telegrams quote.

Anybody? Do you mean nobody?
Maybe they didnt hire someone to handle this thread page by page.

well they should've done that. this thread is good for promotion of the project as well.

[Piggy]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce 

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

Im going to quote you one more time to make sure everybody read this, i was quite surprised about the contrary frankly.
I was just reading about the interactive item card they are implementing, users increase the value of their
published IIC’s by gaining social acceptance inside the platform.

They are also stating:

Through the social interactions known from the traditional social media platforms such as likes and followings, the “social value” of the IIC is increased. Thus, users are incentivized to
create high-quality content on the platform as they get rewarded for doing so.
IIC contains information inserted by the users in a chronological chain about the particular physical item, such as ownership data and the condition rating. IIC transforms information of the item on a
transaction-by-transaction basis. IIC will facilitate the information flow between the users, promote transparency and increase the overall trust of the community.

Cool stuff they are up to something here, they create a place where you sell and the community can help you and get rewarded for it!

[gliridian]

The concept of SOMA is nothing short of revolutionary in the so called Social Markets. However, I have some reservations regarding the use of IIC's brought up in the whitepaper. IIC or Interactive Item Card is used when a seller in SOMA will register his object (to be sold of course in the market), every registered object will have their own IIC, so when it is sold to the new owner, the new owner will have the IIC of that said object. Now, let's say the owner will use the object for quite some time let's say in a year, and that owner decided to sell it in SOMA again, that object still has the previous IIC. So the challenge now is the recognition of that product. SOMA team proposes using computer vision technology to compare new item photos with older photos to confirm that the item is the same and that it hasn’t been damaged. Any changes in the item’s appearance or quality is recorded on the IIC. However, how sure are we in that computer vision tech that they will arrive on? How accurate, secure and trustworthy is that tech? What are the effects it has for the buyers? What if this tech made a mistake? There are so many questions. I think this tech is still speculative. Does the SOMA team already have a prototype working computer vision tech? Because in order for this to work, I think they need to nail this one.

[Pajulapoiss]

The concept of SOMA is nothing short of revolutionary in the so called Social Markets. However, I have some reservations regarding the use of IIC's brought up in the whitepaper. IIC or Interactive Item Card is used when a seller in SOMA will register his object (to be sold of course in the market), every registered object will have their own IIC, so when it is sold to the new owner, the new owner will have the IIC of that said object. Now, let's say the owner will use the object for quite some time let's say in a year, and that owner decided to sell it in SOMA again, that object still has the previous IIC. So the challenge now is the recognition of that product. SOMA team proposes using computer vision technology to compare new item photos with older photos to confirm that the item is the same and that it hasn’t been damaged. Any changes in the item’s appearance or quality is recorded on the IIC. However, how sure are we in that computer vision tech that they will arrive on? How accurate, secure and trustworthy is that tech? What are the effects it has for the buyers? What if this tech made a mistake? There are so many questions. I think this tech is still speculative. Does the SOMA team already have a prototype working computer vision tech? Because in order for this to work, I think they need to nail this one.

I remember being confused about this very same thing. I havent heard of this computer vision tech before, but I have to tell you, I don't have much faith in this tech you are talking about, because it still leaves too many possibilities for a mistake or misinformation in the platform.


There may not be any visual damage on the product, but it may still be damaged, for an example: tv not working.

Maybe this tech could work for electronics that are smart, that would run hardware checks and save this data in the IIC. But u can't do that on a piece of furniture

What other options could there be, for verifying the sold object?

[Bambulee]

Thanks for the infos and
yes lets Burn the SOMA tokens

[lvsca]

Thanks for the infos and
yes lets Burn the SOMA tokens

better if all token that allocated on ICO sold out than we burn it.

[imtiazmahmood]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

That is good news but i don't understand why anybody from Soma team comes here and makes an announcement about it and we are taking the news from their telegrams quote.

Anybody? Do you mean nobody?
Maybe they didnt hire someone to handle this thread page by page.

well they should've done that. this thread is good for promotion of the project as well.

you can say that. but here keep investors coming and asking about what they needs for clarification, after satisfaction investors they investing. i am also investors here and i keep my eye on this soma project. me also invested and friends also.

[germsite]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Where did you actually find the information that unsold tokens will be sold after the ICO on the site? I can't even find it and always supposed those tokens will be burned anyway.

[Yasemin]

The concept of SOMA is nothing short of revolutionary in the so called Social Markets. However, I have some reservations regarding the use of IIC's brought up in the whitepaper. IIC or Interactive Item Card is used when a seller in SOMA will register his object (to be sold of course in the market), every registered object will have their own IIC, so when it is sold to the new owner, the new owner will have the IIC of that said object. Now, let's say the owner will use the object for quite some time let's say in a year, and that owner decided to sell it in SOMA again, that object still has the previous IIC. So the challenge now is the recognition of that product. SOMA team proposes using computer vision technology to compare new item photos with older photos to confirm that the item is the same and that it hasn’t been damaged. Any changes in the item’s appearance or quality is recorded on the IIC. However, how sure are we in that computer vision tech that they will arrive on? How accurate, secure and trustworthy is that tech? What are the effects it has for the buyers? What if this tech made a mistake? There are so many questions. I think this tech is still speculative. Does the SOMA team already have a prototype working computer vision tech? Because in order for this to work, I think they need to nail this one.

We are in a very early stage and it looks like there is no prototype yet. I was also thinking, what if you can make a product look a lot better with IIC in order to sell it. Since we dont have a prototype, we can speculate a lot about how safe this IIC will be

[FIEX]

Thanks for the infos and
yes lets Burn the SOMA tokens

better if all token that allocated on ICO sold out than we burn it.

Glad to see everyone happy again
SOMA is a great project that deserves the funding they need. It will be difficult to reach hard cap but with the tokens being burned its better for the investors.

Cant wait for it to start.

[Elkmar]

Now we know from the co-founder that the leftover tokens will be burned, did he also mention something about their business model?  

I did not even know this. Great, thanks for the information.

[gliridian]

The concept of SOMA is nothing short of revolutionary in the so called Social Markets. However, I have some reservations regarding the use of IIC's brought up in the whitepaper. IIC or Interactive Item Card is used when a seller in SOMA will register his object (to be sold of course in the market), every registered object will have their own IIC, so when it is sold to the new owner, the new owner will have the IIC of that said object. Now, let's say the owner will use the object for quite some time let's say in a year, and that owner decided to sell it in SOMA again, that object still has the previous IIC. So the challenge now is the recognition of that product. SOMA team proposes using computer vision technology to compare new item photos with older photos to confirm that the item is the same and that it hasn’t been damaged. Any changes in the item’s appearance or quality is recorded on the IIC. However, how sure are we in that computer vision tech that they will arrive on? How accurate, secure and trustworthy is that tech? What are the effects it has for the buyers? What if this tech made a mistake? There are so many questions. I think this tech is still speculative. Does the SOMA team already have a prototype working computer vision tech? Because in order for this to work, I think they need to nail this one.

I remember being confused about this very same thing. I havent heard of this computer vision tech before, but I have to tell you, I don't have much faith in this tech you are talking about, because it still leaves too many possibilities for a mistake or misinformation in the platform.


There may not be any visual damage on the product, but it may still be damaged, for an example: tv not working.

Maybe this tech could work for electronics that are smart, that would run hardware checks and save this data in the IIC. But u can't do that on a piece of furniture

What other options could there be, for verifying the sold object?

While I'm not disputing the IIC tech, in fact, I'm supporting it. If they could ever pull off this one, this is nothing short of miraculous, and can open a whole lot new markets in identity and recognition. However, the concept for me is quite sci-fi at the moment. So I still have to see it to believe it.

However, I think I have a solution. Maybe they already have a prototype there already, but I doubt that it's already intelligent enough to be able to accomplish the feat they want to accomplish in my previous comment. But I think it will work just fine if, instead of just having one IIC per object regardless of it's age or owners, (because, I just can really imagine how hard will the IIC be able to keep track what's what, especially for identical objects right?) why not give a unique IIC every time someone will offer his object for sale in SOMA, eventhough it was sold before? I think that way it's ok because regardless if that object has been sold out in SOMA before or not, it still a unique identity in it's every iteration aka being offered to be sold in the SOMA.

[helloal]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

Hey , enough  .
You guys didnt realize it? SOMA >> SOcial MArketplace
But its also a guess 

I'm pretty sure you've got it right. The project is even called The Social Marketplace. I think the oldest meanings of the word soma are either for some deity or for a drug, so I doubt its based on either of those.

[ubercool]

I dont think there will be any problem for SOMA to get fundings. They already did good campaigning and promotions. I just think google ads and Youtube ads will boost the ICO.

[Piggy]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

Hey , enough  .
You guys didnt realize it? SOMA >> SOcial MArketplace
But its also a guess 

I'm pretty sure you've got it right. The project is even called The Social Marketplace. I think the oldest meanings of the word soma are either for some deity or for a drug, so I doubt its based on either of those.

I think social market its really the perfect way to describe this project and what they aare trying to achieve.

This is not merely selling items and getting review about the products like Ebay or Amazon are doing, in here there will be a living
community of people which will help out each other, getting rewarded for it.

Think about all the money Amazon is saving by letting the users write down review suggesting or not a product, one way or the other is helping out just Amazon and the sellers to make more money for free.

[gliridian]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

Hey , enough  .
You guys didnt realize it? SOMA >> SOcial MArketplace
But its also a guess 

I'm pretty sure you've got it right. The project is even called The Social Marketplace. I think the oldest meanings of the word soma are either for some deity or for a drug, so I doubt its based on either of those.

Haha, martinholly you are so serious, of course they know the true meaning of SOMA. It's just that it seems to be sound like of something to some people. In my language, soma means, "the sum of" hahaha. So I'm not imagining a girl or a pet with that name. lols But it's kinda catchy for me. I think Helloal summed it pretty well (and then some hahaha!)