The Slovenia-based Eligma ICO, referred to by some as a blockchain-based Ebay, is an AI-driven cognitive commerce platform, and scooped almost 50% of the popular vote for best ICO pitch along with the top prize at the 2018 Crypto Summit in Zurich this week.
Twenty three ICOs competed for the award in front of over 2,500 attendees with presentations, round table discussions and finally community voting used to determine the winner.
In their pitch, Eligma’s CEO Dejan Roljic outlined the company’s desire to link existing e-commerce markets and the second-hand marketplace to facilitate the discovering and reselling of goods.
He explained that their business model is based on the three core blockchain-based strands of discovery, inventory and loyalty.
The discovery element focuses on the search for as well as proof of purchase of goods. Inventory relates to escrow and the smart contracts involved whilst a block of loyalty programs that rewards participants within the Eligma ecosystem completes the trio.
Although there are other newcomers in this field such as Keyrpto, Eligma believe their application of AI technology for suggesting the optimal time for a sale, as well as the facility for constant searching of merchandise using detailed criteria, gives their product a leading edge.
Whilst the venture seems to offer considerable potential, investors should be aware that roll out of the product to markets outside of Slovenia is not expected to begin until June 2019.
The ICO will issue ELI tokens, priced at ten ELI to the dollar, which can subsequently be utilised as a means of payment on the platform and to allow participation in loyalty programs.
The public pre-sale, involving a 15% bonus for a minimum investment of 0.1 ETH, is now live and is scheduled to run until April 10th. They are currently over half way towards reaching their hardcap goal of 22,900 ETH. The crowdsale opens on 17th April and will run for 3 weeks. KYC procedures apply.