Soma is a decentralised blockchain based platform designed to trade goods safely and securely, with the added essence of social media for interactions between the parties and to publicize the product and make the whole process much more user-friendly. Users on the Soma platform are incentivised with Soma Community tokens(SCT) for every transaction, interaction and value-addition towards the platform as an organisation. They are also incentivised by tokens for extending their helping hand to each other or towards the platform, for instance, users who act as arbiters or reliable escrow agent for the interaction between the seller and buyer are rewarded by a percentage of the transaction. Soma brilliantly exhibits its socializing nature by introducing commonly seen online trends like follow, like, share, poke, etc. to the platform. By Integrating smart contracts and blockchain into their platform,
Soma guarantees to provide verifiable and fool-proof transactions which can be scrutinized in any case of a discrepancy from either the buyer’s or seller’s end.
Another interesting feature of the Soma ecosystem is the smart contracts powered IIC (Interactive Item Cards), a patent-pending feature, which enables the creator to engage in the social marketing of the created digital content of the IIC, leading to a higher product value of the associated actual item. These cards can be viewed as an electronic embodiment of the physical items, which allows virtual storage of the corresponding item on the blockchain. IIC includes information about the ownership data, the condition of the physical item, the genuineness of the item and the price history. These Interactive Item Cards can be circulated from one user to another even if the ownership of the physical items changes. In this manner, the details of an item can be reviewed (if needed) with the help of these IIC’s as they will contain the whole history of the item.
The greatest challenge SOMA will have to surmount will be to attract a huge amount of users to the community as the fate of the stage lies in the measure of dynamic clients. Without a doubt, there is no compelling reason to stress over the execution and deliverance of the stage, as with regards to the specialized viewpoint the group is brimming with experienced and proficient software engineers.
Soma Community Tokens have a hard cap of 60,000,000 units of which 54,000,000 are sold at ICO. The remaining 6,000,000 SCT units will be reserved for expansion of the platform such as marketing and rewarding active community members. As for the ICO round — the funds will be utilized as follows:
Pre-sale is Limited to 8 000 ETH and a time period of 4 weeks.
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