Cryptocurrency “TimeCoin” presented by TimeTicket GmbH, a wholly owned Swiss subsidiary of TimeTicket Inc., is going to be listed on BitForex on November 11, 2020.
TimeTicket Inc. operates TimeTicket, a marketplace that connects people who wish to buy and sell skills and services. TimeTicket is a fast-growing business with 300,000 active users; its revenue has grown 30 times over the past three years. TimeTicket was formed as a spin-off company from its parent Globalway Inc. in April 2019 and it successfully raised about US$3 million in funds.
TimeCoin is a cryptocurrency that can be used for settlements on the “TimeCoinProtocol”, a sharing economy protocol that runs on the blockchain being developed by TimeTicket GmbH. Utilizing the protocol, anyone can easily develop and operate sharing economy applications.
TimeTicket and eSport Stars
TimeTicket GmbH plans to develop an overseas version of the TimeTicket application on the TimeCoinProtocol. It plans to expand the service area to Asia, mainly in China and India.
eSportStars is a platform that connects esports players and fans from around the world. Users can play and watch games at any time and they can trade esports goods and services among each other. eSportStars is also utilising theTimeCoinProtocol and it is scheduled to be released in October.
TimeTicket will have a unique mechanism called “Time Mining”, which rewards users with TimeCoin for their contribution based on their transactions.
Similarly, “esports Mining” will be available on eSportStars. Users will be rewarded with TimeCoin for participating in tournaments, hosting tournaments and attracting customers, providing ‘let’s play’ videos of tournaments, trading goods and services etc.
For both TimeTicket and eSportStars, users can receive special in-service privileges according to the quantity of TimeCoin they hold.
TimeTicket Inc. plans to issue shares to raise funds so there are no plans to sell TimeCoin to investors before the IEO. In addition, all TimeCoin to be held by advisors, officers and employees of the project will be locked-up for a certain period so that it won’t be able to be traded in the short term. In principal, TimeCoin should be held for the medium to long term.
The aim of the IEO must be in line with the premise that the token economy for TimeCoin functions properly. Centering around users who utilize applications on the TimeCoinProtocol, it is our priority to grow and expand the service area for TimeCoin. As the market price should be formed fairly and reasonably, it is not in our interest to sell TimeCoin to investors who intend to hold TimeCoin for the short term. TimeTicket GmbH plans to sell a limited quantity of TimeCoin through the IEO at BitForex.
For more detailed information, please take a look at BitForex turbo page featured on Timecoin.