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ICO Status Quo: Gatcoin

The Gatcoin (symbol is GAT) ICO has exceeded expectations, selling out far before their expected date.

This new idea has the potential to distrupt the shopping market in terms of point collection, promotions and loyalty programs.

ICO Status Quo: Gatcoin

Real-World Value

The idea behind gatcoin is to allow consumers to keep all of their points, coupons, loyalty program rewards, etc. on one app on their phone. Keeping everything in one spot sounds nice but aren’t there already apps for that? Probably but that’s not all Gatcoin would do.

In addition to having a platform (both app and website platform) where you can store all of your shopping points, etc. in one place, you would be able to exchange these points for Gatcoin – a cryptocurrency. Gatcoin therefore will have monetary value to it so for all of you who have tons of coupons lying around that you never use, you can just exchange them for money!

But again, that’s still not all Gatcoin will do. You can also use your Gatcoin to purchase/acquire points, rewards, coupons, etc. for other companies that may be more applicable to you. So if you’ve got a ton of points for Walmart but you recently switched stores and you never go to Walmart anymore, you can now exchange those points for Starbucks points and get some free lattes instead.

Last but not least, merchants can airdrop currency to users phones by geolocation. So you can be walking by a Starbucks, get some promotional currency airdropped to your app for 25% a latte and walk right in to use that promotion right away.

The idea is to be a win-win for merchants and consumers. Consumers because they can actually use all of their rewards rather than letting a ton go to waste or just ignoring them because they’re irrelevant to them. And merchants because customers will now be more engaged since all promotional content will be useful to them rather than getting annoyed by all the “Spam promotion” they are receiving.

ICO By The Numbers

Supply of Token :  1 billion GAT

Public Presale/Sale : $14.5 million for 50% of total GAT – SOLD OUT

The 2nd week public sale was forecasted to continue until Janury 28th, 2018; however, the hardcap was reached earlier than expected.

Project Timeline

The Gatcoin Demo is already live but the software is still in development. With the token sale to raise funds for development already finished, the next step for the company is to finish software with finalized development targeted for December, 2018. They’re also working on getting listed on exchanges with a target date of June, 2018.

Then, this Singapore & Hong Kong based team is starting thier expansion plan in East Asia, then expanding to the US by 2019 and then the Americas and European Union in 2020.

Conclusion

Improved organization, value and better consumer-merchant interactions – these are the goals that Gatcoin is hoping to achieve with their new platform.

It will be interesting to see how the value of different coupons are priced against the value of GAT, how well this technology will be adopted by the target market – the everyday moms and dads – and whether merchants will in fact be excited to implement it.

Although Gatcoin may keep users more engaged, will merchants like the idea of their coupons being exchanged for other businesses? Also, are merchants generally intending for all coupons to be used or is it more of a marketing ploy to increase visibility? Lastly, how will expiry dates work if coupons and rewards can just be exchanged for GAT (which presumably cannot expire)?

Please share your thoughts below!

Additional References

 

 

 

 

Martina

4 Comments

  1. Must say seems very interesting sounds sort of like what bit coin. Is this like another form of digital currency i know there has been a huge demand lately for this market. This is something i will look forward to learning more about hopefully its something i can refer to my friends

    • Hey Silvano, 

      It’s a little different than Bitcoin – as Bitcoin is a token that represents a blockchain whereas Gatcoin is a project that’s being built on a blockchain (specifically Ethereum). If that sounded like foreign language to you, then check out The Bad Crypto Podcast and listen to the first 10 episodes as it will clear up a lot of the fog around this. 

      Maybe as an analogy, think of Ethereum & Bitcoin (blockchains) as the highways and the ICOs/ALT coins (companies built on those blockchains) as the cars that use the highways to get around 🙂 

      I know it’s confusing to wrap your head around at first but once you get into it, it will make a lot more sense. You can get my free guide on how to get started in investing in crypto under 2 hours by clicking here. I also include my top 3 resources I use to learn about crypto and keep informed with the markets. 

      Hope this helps! 

      Martina 

  2. Hi Martina,

    This ICO is really interesting to me. As someone very invested in BC, BCH, ETH, and GNT, I find the idea of GAT very interesting. I do wonder about the feasibility of users selling their coupons for GAT. My curiosity is piqued. Will there be enough users wanting those coupons (and are they unique enough) that the coupons will actually be purchased by other users in order to retain value within the system? It’ll be interesting to see more about GAT unfold for sure.

    Thanks for your post!
    Lizzie

    • Hi Lizzie! 

      Thanks for your comment. As of now GAT is mostly based in China so most of the companies they are partnering with are Chinese companies so all of the coupons that can be traded and exchanged for other coupons/month are within that area. 

      So someone from the US, for instance, would probably not derive much value but they plan on expanding westward in the next year or two and then they’ll be partnered with major US companies so probably your grocery store, superstore, pet food store, etc just as they are doing in China now. 

      I can totally see the value in something like that but what I’m curious to see is whether they make the platform friendly enough so users actually want to use it. If the energy cost of exchanging coupons is too high, most people will just not think it’s worthwhile enough. 

      I guess we’ll see! 

      Martina

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