We, Wowoo team, want to thank you all for your support and cooperation.
Especially, we would like to thank everyone who has been supporting us from ICO since the beginning of 2018.
Our company has been focusing on supporting and raising awareness of various excellent blockchain projects, with the motto “Creating Inspiring Value”. It is a well-known fact that there are many benefits in launching projects that use the concept of ICO, and we will continue to be a platformer of an ecosystem which is built by various use-cases of blockchain as a step towards a better society.
However, it is necessary to accept the fact that due to various events such as the burst of the bubble and the repeated cyber-attacks on exchanges, only about 40% of the total ICO projects reached the target amount in 2018 and the amount procured in early this year was about 30% lower than the end of last year.
Also, throughout the year, we aimed for the goal of realizing society where value is given to the impressive content, and we felt that it would be difficult to lead in this industry if we do not construct the mechanism which would change the standard of society where token price is evaluated at first instead of actual project.
When we took world’s trend and experience of “crypto winter” into account and thought about returning profits to token holders and related companies as first priority, we came to a conclusion that it is necessary to build business plan in broader point of view which would increase the value of all tokens including Wowbit, related projects, and Wowoo as a project. This time, with the review of previous activities, we would like to explain ecosystem that will lead to the realization of a new road map for the token economy we see in the future.
First of all, it is said that there are three major disadvantages of services that use tokens and cryptocurrency, including token economy, as follows.
-Purchaser’s cryptocurrency acquisition cost
-Difficulties in unifying service charges due to price fluctuations
-Conversion cost to the legal currency of the receiving party
The best way to overcome these factors and embody Wowoo’s aim of creating value for impressive is to build business model that uses cryptocurrency from the beginning (it’s easy to acquire), without the token price fluctuates*, and ends with cryptocurrency (no need to convert to fiat currency). Therefore, our goal is to build the model as follows.
A simple representation is a token-based affiliate marketing model. Companies can reward users’ various actions that meet the corporate brand and philosophy as a part of advertising. Users can trade collected incentives for various products and services without a payment by fiat currency, and this will build win-win relationship for both participants.
*Regarding each tokens: As solution for corporate customers, we think that, even if we consider from legal point of view, unnecessity of conversion to fiat currency will enhance the introduction to many industries. However, we will continue to keep the opportunity for the price to fluctuate, for the token holders, by applying supply and demand of Wowoo related tokens, like WWB, to existing trading system. The discussion of this logic, including use-case which does not depend on price fluctuation, has mostly been settled, and we will make an announcement accordingly.
▼Wowoo token economy will operate with the following three core functions.
1 Wowoo Marketing *
→ cryptocurrency × advertisement
2 Wowoo BC *
→ cryptocurrency × e-commerce
3 Wowoo Exchange
→ cryptocurrency × investment
* All names are tentative.
Wowoo’s customers as a business-oriented structure
- Companies (including organizations, projects, etc.)
- General users (including investors)
And both will be registered from Wowoo’s HP *.
* Wowoo top site and management screen including the token issuing function and the SAC function are collectively called “Wowoo platform”.
Company’s benefits of using the Wowoo platform will include not only the same, ICO project consulting and co-branding, but as well as opportunities 1 to 3 above.
For the entrance part, in addition to having the Wowoo Exchange as a group and working closely with reputable partners starting with OKWAVE, most importantly, we will provide a mean of acquisition followed by regulations.
Some of you may have read the news or blog about number 1. This is a usecase using OmniSparx’s* service, and we have been closely working together along with Liberty project since the sponsorship of CPAC 2019, US conservative union’s biggest event, in March.
OmniSparx explained: https://youtu.be/yXursksAAnA
Companies can use this service to browse various SNSs on a single screen, as well as manage followers, authenticate users (human or bot), and distribute tokens directly to wallets depending on user’s contribution. At Wowoo, companies will issue WWB or original tokens when using this service, and distribute tokens for user actions (ex. likes, shares, reviews, etc.) that are appreciated by the company. This enables much lower cost and higher performance marketing than general online advertising and influencer advertising. Even from the user’s point of view, using the SNS that you use on a daily basis and taking action on the company or service you like at any time you want will give you a chance to get tokens, so it is reasonable and possible conduct promotion on top of entertainment.
*OmniSparx provides a platform to promote community engagement of a project, and does not represent community management of partners and clients including Wowoo.
Shopping in number 2 mainly refers to a place where the user can exchange the token received by the above steps for goods or services.
In addition, based on the P2P principle which is the essence of the blockchain, we aim platform to be where you can trade anything if you accept each other’s value and agree on trading, and not just goods but also a wide range of transactions such as ideas, time, and intellectual property. In the future, we plan to release multicurrency functions that can use both fiat and crypto currencies in every countries and the issuance of tokens linked to products with partners.
Exchange in number 3 is a project launched from the beginning of 2018, and it is an exchange that enables trading not only tokens of projects related to Wowoo, but also tokens selected by promising partners that have great influences. As mentioned at the beginning, while security is considered to be a major issue, we plan to deploy it as a licensed exchange in each country by working with forefront security measures and regulators. Development is progressing and opening is scheduled at the end of this month. Some features and access may be limited to ensure the platform is secure and stable. The Wowoo’s marketing system is being jointly developed with OmniSparx, and is scheduled to be opened later this year with BC.
Until now, we have not been able to offer use-cases from the perspective of general users due to legal risks caused by focusing on ICO. But, we can offer people who never had special relationship with blockchain, cryptocurrency, or ICO, the way of life that you can easily utilize it and will not be bound by fiat currency, so please look forward to it.
In addition to the use case and reputation, token price being the most considered factor in this industry is also recognized from the voice of the holders against WWB. We all are considering it as the most important aspect too. Although we cannot mention specifically, not only covering weaknesses and liquidity as a venture company but also planning to conduct events to attract more attention of the token. Following BTC, the heat of cryptocurrency is rising again, and this is the timing when major companies and financial institutions are entering the industry one after another around the world. It is believed that the change in the supply and demand for altcoin is also coming soon.
There is no significant change in the total amount of founder tokens and reserve tokens, and in spite of lockup term, the team will continue to hold on to them in long term for value of the project. Therefore, current price action is within the limited market volume. Although the difference between ICO price and current market should be considered, main stream is still user-first, and we plan to take counterplans to the market with even greater precision.
We will carry out renewal of the website and update of the roadmap shortly in the future, so please wait for the details of changes. However, we will pre-share the following.
・ WWB for Cloud Mining
→ Regarding the WWB acceptance for cloud mining service by OKfinc, which was announced in September 2018, the prospect of introduction has not been made yet. This is not only due to market conditions, but also because it has become clear that we cannot establish an investor protection system under our regulation and compliance at this stage, and thus, we will extend it indefinitely.
・Air drop of WCC and other related tokens (such as LES) to WWB holder
→ We will reschedule the campaign regarding the WCC airdrop (conditionally up to WWB1: WCC3), because it is expected that restructuring, which includes reforming WCC token itself as the security token, will occur when we considered the cooperation with a Security firm for the construction of this ecosystem. Even if there is a change in the token design, Airdrop itself will be conducted in cooperation with the exchanges so please look forward to it. We are planning to be implemented in a way that will satisfy everyone who is supporting us, so it is still difficult to guarantee the date, but the target is from this summer to the end of the year.
→ Airdrops of related tokens such as LES are scheduled to be conducted regularly as a special service for WWB token holder. This is not a function linked to the security token, but rather a campaign cooperated with each project. Due to the volatility of the cryptocurrency market, especially the ICO market, the schedule for many projects has changed and not determined yet. Apart from airdrop, we are discussing a promotion campaign with Liberty Ecosystem, which issued the LES token, through a strategic partnership, and we will make an announcement as soon as it is finalized.
・Increasing WWB listing
→ Although securing the listing at the exchange is not our priority under the current market, there are ongoing plans that are under discussion, and we will make an announcement as they progress. Also, we are planning to select and delist from exchanges that may not always cooperate well with the project, because demerit is expected to exceed the merit of increase in the amount of circulation. Thus, in addition to recommending to use Wowoo Exchange and our group companies for trading environment, we plan to implement solution that respects the user’s right to access their assets, such as DEX.
→ Our main information provision systems we use for Wowoo community are official Telegram channel, which is reading type aimed for immediate notification of the same news as our website, and official Twitter channel for regular information sharing. The establishment and other use of SNS channels such as multilingualization and regular AMA are still under discussion along with holding of demonstrations of rewarding program, which will be provided in the future. We are regularly monitoring communication held over the Internet, including unofficial channels we are aware of, and we take it as an encouragement for our daily activities. We will be releasing more ways to interact with the community in a better way in the future, so please wait for a while. Although there is only Twitter, all comments are always welcome, and we will be happy if you can follow us from below.
Lastly, our main goal is to spread the token economy so that people are freed from the curse of money and create a space and peace of mind that allows us to be aware of others and the surrounding social issues through self-realization. Everyone around who is involved has been doing great jobs in their fields. Such good intentional activities are accelerated by blockchain services in Wowoo, and we’d like to create a community that is nurtured as a source of information that will lead the whole world. We are aware of imperfectness, but we are guiding our project to success by solving problems one at a time, so please look forward it.