On March 1st, 2018, Wowoo announced their public token sale, which will take place on March 12, 2018. Wowoo seeks to be a platform that creates value for the creation and distribution of meaningful content. The Singapore-based service-content platform aims to provide a question and answer (Q&A) virtual ecosystem that will incentivize users to provide sincere responses to other user inquiries.
In the Wowoo ecosystem, the “Wower” (Wer) is an individual who provides content or answers, whereas a “Wowee” (Wee) is a user who receives a product, service, or requested information through the platform. Wowoo will use WowBit (WWB) NEP-5 tokens to pay users who have provided relevant subject matter.
Wowoo originally planned to launch on the Ethereum blockchain, but opted to migrate to the NEO blockchain for a variety of factors. Some of Wowoo’s reason for selecting NEO include; the Smart Economy’s ability to implement digital identity, its potential for high transaction speeds, and level of liquidity.
The Wowoo Council has a variety of individuals with diverse backgrounds who are advising and guiding the platform’s development. Council members include Kaneto Kanemoto, CEO and Founder of OKWAVE; Gen Matsuda, CEO and Founder of AsZ Holdings; Hiro Rokugawa, Attorney/Managing Partner at Ogasawara, Konno, and Rokugawa Law Firm; Roger Ver, CEO of Bitcoin.com; and, Da Hongfei, CEO of Onchain, and Founder of NEO.
Wowoo Token Sale
The Wowoo public token sale is scheduled to take place on March 12, 2018 and will close on either March 19, 2018 or when the hard cap of 2,777,777 NEO / 11,111,111 GAS has been reached. Only NEO and GAS will be accepted for the token sale, with a WWB price 0.01 per NEO, and at 0.04 WWB per GAS.
The total supply of WWB will be 1,111,111,111 tokens. The minimum a participant will be able to purchase is 200 WWB tokens, and the maximum will be 10,000,000 WWB tokens.
The Know Your Customer (KYC) and whitelist process is scheduled to begin on March 5, 2018 at 1:00 pm (UTC), and will remain open until the end of the token sale.
Participants will need the following for the KYC/whitelist process:
- Passport or ID photo;
- A photo holding the passport or identification; and,
- A valid proof of address from the three months prior to submitting for the whitelist.
Tokens will be distributed in the following manner:
- 50% to incentivize participation;
- 25% for the public token sale; and,
- 25% for reserve.
Lastly, the proceeds from the token sale will be used in the following manner:
- 33% for development;
- 22% for marketing and go-to-market strategy;
- 20% for monetary reserve;
- 13% for operations; and,
- 12% for legal needs.