[ANN][ICO] SOMA - The Social Marketplace

[belechau]

Looking forward to Android development. The platform will be a differential due to the wide dissemination. Those who have not yet heard of Soma's potential will testify

[1714772868]

1714772868

[toolucky98]

wow. now every eth you invest you get in to lottery ticket to win 5000 SCT https://twitter.com/SomaToken/status/915964812114452480

The winner will have a nice bonus + this will be an additional incentive to invest, great idea
tiger5056, thank for this link

so, minimum to contribute is 1 ETH to get lottery ticket?

Yes , "for every 1 ETH", so it means the minimum is 1 ETH.
Thats quite a lot for me 

maybe it's a lot , but it's good to incentivize large investments. in my opinion it's not that large of an amount. I've invested that before.

large investors invest more 1k ETH, I think this bonus is more for ordinary investors, who believe in the project and invest part of their funds

1k ETH is at current prices someting about 300,000$. Most of "large investors" in crypto worlds don't invest that much in one project (due to high market volatility). Most of them put no more than 100 ETH in on project. Anyway I like this lottery idea

if some one contribute up to 1k ETH, it will easy to reach soft cap. and not need long time for ICO.
lottery ticket is best marketing idea to get more investor.

How much is the soft cap?
I think 1k ETH investment is very rare, so we should not conclude it like that.

[jonnytracker]

Every transaction that happens inside the SOMA™ platform will not only change the ownership of the physical item but also the corresponding ownership of the Interactive Item Card (IIC). IIC is a digital representation of the physical item.

so this works like a timestamp notary platform concept ?

[imtiazmahmood]

Soma is a platform that will be great for sellers but also for buyers. For exemple thanks to the social network buyers will be able more than ever to create customer loyalty which is a very important point in any business.

yes also soma will accept many payment methods like bitcoin ether and litecoin and Utrust payment etc. i think this project gonna on top. i am so excited because i am part of this project. me and my friend already in invested on Soma project.

What are the products that you can buy on the Social Marketplace?

products will come from people when soma launch. that means everyone will buy sell there own products and get tokens or and cryptocurrency.

[toolucky98]

Soma is a platform that will be great for sellers but also for buyers. For exemple thanks to the social network buyers will be able more than ever to create customer loyalty which is a very important point in any business.

yes also soma will accept many payment methods like bitcoin ether and litecoin and Utrust payment etc. i think this project gonna on top. i am so excited because i am part of this project. me and my friend already in invested on Soma project.

What are the products that you can buy on the Social Marketplace?

products will come from people when soma launch. that means everyone will buy sell there own products and get tokens or and cryptocurrency.

Yes, the product will come from the community itself, the buyer and the seller.
And soma platform will be their facility.

[magisterr]

I thinking... Whats reminds me Soma.. And understand now.. Its Pinterest! hm...
Pinterest have a huge succes, as I understand Soma also make same sosial-network shop but for crypto only. May they will also have succes  

[alphashotgun]

hi guys is there a bounty campain for a signature? i would join that immediately  

[levyashin]

hi guys is there a bounty campain for a signature? i would join that immediately  

You can check bounties from here.

https://bitcointalk.org/index.php?topic=2129964.0


But signature campaign is for members and above.

[Mystic90]

I can see the ICO is running for some days now, with 20 days left. Is there anywhere I can see how much is invested uptill now?
Want to follow the process if I can

[SEELE^^01]

http://bitcoinprbuzz.com/utrust-soma-powerful-partnership-upgrade-business-model/

this is a really nice news. Now it is more than official that they are cooperating together price will mooning here too

Very good news for every future investor going to invest here.

[the_donald]

I can see the ICO is running for some days now, with 20 days left. Is there anywhere I can see how much is invested uptill now?
Want to follow the process if I can

you can see how many tokens were distributed here: https://soma.co/token-sale/

so far 6,4 Million out of 54M

[cantdecide]

I can see the ICO is running for some days now, with 20 days left. Is there anywhere I can see how much is invested uptill now?
Want to follow the process if I can

you can see how many tokens were distributed here: https://soma.co/token-sale/

so far 6,4 Million out of 54M

Well, that's a good start so far The partnership with UTrust should give them hopefully a nice boost.

[sockpuppet1911]

Every project was in early stages. There was time when people were saying that Ebay is crap and Facebook is just another overhyped project which won't last more than one year  

What? I am still saying that. Ebay is crap and Facebook is overhyped. Okay, shorting Facebook was maybe not such a good idea in hindsight, but let's see if they still exist next year.

Ebay and facebook had a successful working platform, before they approached the public for investments. Both of this platform, can't claim that. Again, it's not a bad thing cos it seem that this is the new way of raising capital now, but it's unfair to compare this companies with the aforementioned.

To be fair, they didn't have this kind of investing possibilities around back then. I think you had to ask for investments by talking to rich people.

[pynetx]

1 ETH for the lottery? I will be throwing 1 just to try my luck.

[alphashotgun]

hi guys is there a bounty campain for a signature? i would join that immediately  

You can check bounties from here.

https://bitcointalk.org/index.php?topic=2129964.0


But signature campaign is for members and above.

thanks for the link! well its hard to trust a newbie so i can understand that...

[magisterr]

1 ETH for the lottery? I will be throwing 1 just to try my luck.

Yes. your chances to small, only 3 winner will be. But we can try it... 5000 SCT its more than 10 ETH..  
and if Soma will make nn profits, it would be much more than 10 ETH  

[levyashin]

1 ETH for the lottery? I will be throwing 1 just to try my luck.

Yes. your chances to small, only 3 winner will be. But we can try it... 5000 SCT its more than 10 ETH..  
and if Soma will make nn profits, it would be much more than 10 ETH  

I didn't see there was a lottery. Still, it is too much risk for me. 1 eth is too much for me to gamble on it. Hope you good luck.

[matjas]

Cool project,
But I couldn't really understand how does the IIC actually work?

What would be a simple real life example?

El IIC is a virtual document in the blockchain that will store all the information of an item, including how many times it was bought, it's like a history of the item, so when you buy it inside the platform, you know what the particular item has been through, the downside is that the history starts when the item enters the ecosystem, before that, you will only know the information that the seller fills in, so if it was actually bought 3 times, the first time it may actually say 1, that will depend of the veracity of the seller, of course, if it's found out that the information is false, the seller and item lose credibility, thus reducing the chances of it being bought; its a fantastic feature, and once the platform becomes mainstream, it will become essential.

So first of all, Soma will have to function for quite some time for IIC to actually become meaningful since the items has to be traded only on their platform.
Other thing is how the II card will be bound to the item? Every re-seller can just make a new card and promote it with a different history.

Most item have a scan able barcode, am guessing that will implemented into the platform. Every smart phone with an irc reader can easily scan this barcode. so implementation should be easy. Anyway, as already mentioned the IIC validity only matters if product is traded exclusively on Soma. So I believe the IIC factor will diminish over time cos we dealing with a free market and as such multiple competition is in place. Ebay/Amazon is a huge market but we all know second hand product is not traded exclusively in this sites.

Barcodes are not necessarily unique to each item. Items may share the same barcode for the whole product line/model. Even serial numbers are not necessarily unique because in practice they can be model numbers which are the same for identical items. Therefore I do not believe barcodes can be used to unique identify an item and link that item to an IIC.

To expand on this, let's take an example from the whitepaper:

For example, imagine that there is a musician with a lot of followers as a user in the Soma.

A few years ago Jimi Hendrix's burnt guitar was auctioned. To this day people still doubt whether it is the real thing or if it is a replica.

http://www.strat-talk.com/threads/jimi-hendrixs-original-torched-fender-strat-found.112817/
http://forums.stevehoffman.tv/threads/did-jimi-hendrix-actually-burn-a-guitar-at-the-miami-pop-festival.647676/

Whether it is real or fake, if you can make a replica of an iconic burnt guitar, you can also make a replica of its barcode. So that proves nothing.

Well that's a problem you always will face to. Like in art etc. there will always be people who wants to make money with replica. But for the average user it will probably be not such a big deal because the time and effort wouldn't be worth it probably.

Also as before discussed, it's not save because every trade which takes part outside of the platform will not be registered :/ I like the idea of the IIC card, but still there are some problems with it.

The project will have to be VERY popular for the IIC to function properly, that same function will scare some people that want to fool buyers, so they won't be getting in the platform, or will try it and look for ways to bypass it, but here are those who are not scammer, but want to lie about a product to be able to sell it anyway, because of that another part of the clients will go, so the platform will be getting either good sellers and buyers, and some few bad apples.

It's a moral hazard problem, like pretty much everywhere. At this point, I think, we can't really deal with it, since the system is not functioning yet and there is no relevant information and data to improve the system.

[magisterr]

1 ETH for the lottery? I will be throwing 1 just to try my luck.

Yes. your chances to small, only 3 winner will be. But we can try it... 5000 SCT its more than 10 ETH..  
and if Soma will make nn profits, it would be much more than 10 ETH  

I didn't see there was a lottery. Still, it is too much risk for me. 1 eth is too much for me to gamble on it. Hope you good luck.

look at token sale page:
https://soma.co/token-sale/

Soma airdrops 5000 SCT for 3 contributors in the ICO!

Every 1 ETH contributed equals to one stake in the draw! There will be total of 3 winners who will receive the amount of 5000 SCT directly to their contract address after the token sale ends.

So, 3 people have a lucky to win more than 10 eth by ICO price 

[Trrrt]

The ico is running very well, more than 6 million token already sell, and 20 more day of ico, i think things will continue like that, soma has a lot of supporter and investors. And the lottery system with 5000 SCT to win is very good, a nice way to motivate people with a little chance to win more token.