8th Continent announces ERC20 token sale to fund China's next-generation digital economy
ABOUT 8TH CONTINENT
8th Continent Social Marketplace was created by Seventh Continent Ltd an independent software company dedicated to establishing Blockchain-based digital economy as a game: a convergence of online economy simulation games, virtual worlds and social networks. Registered in the UK, having a skilled development team based in Budapest, Hungary, the company is best known for having created the world’s first Bitcoin-based digital exchange with a real-cash economy, Seventh Continent in 2013. 8th Continent is China, and the Marketplace is aiming to deliver a sophisticated, AI-based and fine-tuned digital economy mainly to Chinese users.
ABOUT THE TOKEN SALE
8th Continent is not a conceptual initiative, like many projects that propose an ICO. It is an already working system, based on a very powerful Engine, tested and improved during a successful pilot in the past years. Therefore it does not claim to build something it might not build after the ICO! 8th Continent in the contrary is ready to roll out, and will open gates for its users on August 8th 2018 in China.
8th Continent is raising capital to pool resources to secure marketing and communication costs for the launch of the Marketplace on the largest market of the world and belay user growth through a token sale. The token sale will take place from May 18 to June 8 2018 via https://8cico.com/ A total of 888.888.888 Tokens were issued and 88 million tokens will be offered for sale at a rate of 1 ETH = 800 tokens. The remaining 800 million will be allocated to 8th Continent users who will buy them when registering to the Marketplace. 8th Continent’s tokens are called 8thContinentBits, or ECB. 8th Continent’s tokens are single utility tokens that will act as the mechanism for transacting between buyers and sellers on 8th Continent Social Marketplace.
We expect a serious raise of 8th Continent token’s value, for two reasons:
1.ECB is the currency of 8th Continent, consequently the potential masses joining the Marketplace in China the years to come will have to buy the tokens to be able to trade on the Marketplace, and strong demand increases the price;
2.there will be no token dumping, circulating supply will always be equal to the amount of token purchased by the new and existing users of 8th Continent.
1. OVERCOME THE ZERO-SUM GAME PARADIGM
8th Continent does not want to reform the blockchain world, only use it. Take advantage of the decentralised, secure and provable transaction ledger. Nevertheless the potential of 8th Continent seems to be huge as it aims to address the problems linked with standard stock and commodities exchanges: overcome the zero-sum game paradigm. A zero-sum game is where total losses subtracted from total gains will sum to zero, or in other words any quantifiable gains by one party are equal to the losses of another party. Such an environment can be discouraging for many who lose their money. On 8th Continent Social Marketplace digital products will be sponsored by brands (for instance an energy drink will be called Red Bull) paying a small advertising fee each time a digital product bearing their brand name is sold on the Market. The fee will be divided equally between users and operator. This way the sum of funds circulating on the Market will always be higher than the sum invested by the users! Users have the choice to sell unbranded products or become marketers selling branded digital products and make extra income.
2. STOP DIGITAL AD FRAUD
The new paradigm is a win-win model for four reasons:
1. for the first time, brands can see where all their digital media dollars end up, and be sure that if they thought they had purchased ads from a given publisher, it really happened;
2. brand names will be embedded in the products’ natural environment meeting advertisers satisfaction;
3. unlike an ordinary advertisement, branded goods cannot be blocked because they will be listed on the market just like the other unbranded digital goods;
4. users and operator make extra money.
Advertisers will participate on both exclusive and non-exclusive basis limited in time.
3. LINKING REAL AND VIRTUAL WORLDS
Real products will be introduced on 8th Continent Social Marketplace in 2019 linking real world to the virtual one.
Smart contracts are used on 8th Continent Stock Exchange, we plan to open late 2018, where digital companies reaching the 8th level will have the right to obtain extra liquidity from direct investors operating on 8th Continent, or from the outside, rewarding their efforts in creating a stable, healthy and trustworthy business. Smart contracts also guarantee investment plans offered by 8C Equity Investment Trust.
China banned the ICOs and the crypto-exchanges but not the Blockchain, companies offering solutions useful to the crypto/blockchain community are welcome and supported. Chinese Government is also developing its own cryptocurrency and Blockchain according to official announcements. More and more funds and associations develop Blockchain-based systems in many different areas.
This is the reason why 8th Continent follows a strategy where it launches its cryptocurrency, the ECB, in countries where it is allowed to buy and possess such financial assets, and offers Chinese users of the Marketplace a registration in CNY local currency. The funds invested by the Chinese users are converted to ECB listed on major exchanges at current price. Withdrawal of funds from 8th Continent Marketplace is possible for the Chinese users in CNY or in ECB if requested.
Compliance with local authorities is a top priority for us and since 8th Continent is considered as a Game, no violation of laws are committed.
HOW DOES IT WORK?
8th Continent built a new Social Marketplace the first fully Digital Economy: digital companies owned by the users produce digital goods, trade these goods, stocks and other assets in digital currency. It is indeed a unique platform for Self Managed Digital Assets based on transparency, fair play, free market, mutual benefits, equal opportunities, as well as the deterministic mechanism of Smart Contracts embedded on the Ethereum Blockchain.
ABOUT THE TEAM
Over the past two decades, 8th Continent has confirmed its position as a company built on skilled IT and business expertise, employing a handful of team https://8cico.com/#team attracted to bold ideas with ambitious goals, looking to solve critical challenges using innovative strategies that require navigating uncharted territory, finding inspiration across a wide number of industries and technologies. As the company has grown, 8th Continent has extended its knowledge and skills through a unique set of advisors and partners, many of whom are fundamental to the launch of the 8th Continent.
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