TANZŌ (TZO) ICO review
TANZŌ is a first-of-its-kind social marketplace for handmade goods, where crafters are protected and craftsmanship is guaranteed. TANZŌ’s distributed ledger technology ensures transparency within the platform and removes any unfair competition, such as wholesale vendors and listings of mass-produced replica items. Most well-known e-commerce platforms don’t make it easy for true crafters to sell their unique items at fair prices. Crafters are forced to compete directly with wholesale vendors and traders who sell counterfeit or mass-produced replicas on the very same platform and at much lower prices. Often, it even becomes difficult to spot an authentic handmade item among the volumes of low-quality items that come up in the search results. TANZŌ’s blockchain-powered identity verification process ensures that only true crafters will be able to sell their handmade items on the platform. It is also a guarantee to the potential buyers that all goods are truly handmade by the actual crafter who sells them.
TANZŌ’s blockchain-powered identity verification process ensures that only true crafters will be able to sell their handmade items on the platform. It is also a guarantee to the potential buyers that all goods are truly handmade by the actual crafter who sells them.
TANZŌ uses geolocation and timestamp functionality, in combination with blockchain technology, to verify the identity and authenticity of each new crafter, as well as each new item. On TANZŌ, all crafters are real and are selling their own handmade goods under their own name. TANZŌ’s integrated review system relies on the smart contract records from each buyer-seller transaction, ensuring that all item reviews come from people who have actually purchased the item.
TANZŌ business plan:
There are three main components which will define the success of the platform: Sellers, Buyers, and Products. The priority for TANZŌ as a platform will be to keep the growth of these three elements proportional to ensure enough liquidity and interactions on the platform. The medium-term assumptions for active crafters as a median across all categories is to reach 29 sales on average per month.
The TANZŌ team intends to grow organically through customer satisfaction and engagement. Common strategies, such as upsell and cross-sell will not be sufficient. TANZŌ intends to use the power of its community through self-regulation and crowd moderation to increase engagement of both buyers and sellers.
We expect an exponential growth of the user base on a year per year basis until we reach critical mass. It will be critical to attracting artisans from different domains and product categories in order to increase the interest of buyers. 95% of customers look at products ratings before making a purchase decision.
TANZŌ will provide them with additional metrics they can easily identify and understand, such as:
- Quality of product ratings.
- Crafter ratings.
- Access to comments from other verified buyers. As the user base grows, so will trust in the platform, and consequently the sell-per- customer rate. A lower fee for the buyers is a key element of the TANZŌ platform. The business plan is based on a maximum fee of 1.5%, it can go down to as low as 0.3% and as much as 35% of all fees will be returned to the platform users to reward the community (see Reward program).
TANZŌ token (TZO) is an ERC20 token. TZO will be used as a utility token for the following platform activities:
- Up to 1.5% fee for the platform
- Blockchain transaction cost
- Crafter rewards and incentives
- Buyers rewards and incentivesTZO is the TANZO platform enabler. The only purpose of the issued ERC20 token will be as a fuel for the platform. The TANZŌ platform will not be able to operate without its native token (TZO). All blockchain transaction costs will be covered via the TZO token.
Being an integral part of the platform, TZO tokens will be used to facilitate product exchange, which in turn will enable TANZŌ's global expansion.
TZO functions as a utility token in the trading and rewarding systems. It is used to incentivize users who continually add value to the community. The TZO encourages cooperative behavior among users in the community, which is an important factor in the organic expansion of TANZŌ.
All fees incurred for activities such as product listings, renewals, and platform commissions on sales and other activities will be based on TZO.
TANZO’s fees are projected to be 68% to 83% lower than those on competitive marketplaces. The fee for a product exchange is as high as 1.5% of the cost of the product and can go down to as low as 0.3%. These fees will be covered with TZO token. No transaction/purchase/product rate or any other platform activity will be done without TZO token.