Soma ICO offering
A Decentralized Social MarketplaceWhitepapers
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Our ICO is now ended. We want to thank all of the contributors.
What is Soma?
Soma is a revolutionary decentralized platform which facilitates trade inside the Soma Community through a rewarding system that enables beneficial collaboration of the community members. Users are encouraged to engage in actions that will benefit other members and the community as a whole by rewarding such actions with Soma Community (SCT), a cryptocurrency designed to incentivize the members of the decentralized community to perform value-adding services and act as a fast, secure and cost-effective way of compensation.
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. It includes information about the ownership data, the condition of the physical item, the genuineness of the item and the price history. Most importantly, the IIC will accumulate social value inside the Soma Community through different social interactions from the users, which may be reflected in the value of the physical item.
Payments inside the Soma Community are delivered securely. The Soma Rewarding System enhances the security of the transactions by providing an incentive for a community member to act as a trusted escrow agent in a transaction. The escrow agent is compensated after a successful transaction in Soma Community Tokens.
Within the Soma community, trading can be done in a fun way by utilizing the concepts known from the traditional social media platforms. The community members can interact with each other socially by liking, following or sharing the relevant content. The social interactions will increase the social capital of the digital content, which can be monetized by the Soma Community Token.
The decentralized platform incentivizes the community members to provide aid to the other members of the community in various ways. The P2P marketing enables users to gain Soma Community Tokens by promoting the items that are listed for sale on the platform, facilitating the organic expansion of the Community and popularity of the Soma Community Token.
Soma iOS app gallery
The last 6,000,000 SCT units will be used for growth, such as marketing and rewarding active community members. Note that the pre sale bonuses are paid out of this (6,000,000 SCT) fund.
As for the ICO round - the funds will be utilized as follows:
35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward (We’ll reward the ambassadors and marketers of the community)
Development of Soma began
Soma secured its first funding round (Pre-seed)
Soma raised capital from the angel investors with a valuation of 1,5 million euros
ICO and closed alpha release
Closed beta release / Technical white paper
Open beta release