Singapore-based Runs.com, the soon-to-be-launched blockchain platform for community-driven e-Commerce, has announced a presale stage of its crowdfunding campaign, following the successful $1 million seed funding backed by Panamax Capital, Beast Capital and Columbia Angels. Presale contributors stand to gain a 30% as an incentive for backing the project at this early stage.
The first of two phases, the presale will be followed by a general crowd sale, both making available 75 million Runs tokens for sale. The 30% presale bonus will only be available for a limited supply, awarded on a first come, first served basis.
Funds raised during the presale will go towards developing this blockchain framework that seeks to build digital trust among its community of users, resulting in a fair and transparent e-Commerce ecosystem where users, rather than the platform, hold the power to make decisions.
A product of Columbia University’s Innovation and Entrepreneurship incubator, Runs.com is building a decentralized platform on the blockchain, driven by a community of users eager to create, sell and buy personal experiences with the platform as facilitator.
Runs.com benefits from the leadership of 2017 EY Entrepreneur of the year and Columbia University alumnus Giri Devanur. Formerly the CEO of NASDAQ-listed AMERI100, Devanur is also joined by Dr Artit Wangperawong, who holds a doctorate from Stanford University.
Runs.com co-founder and CEO Giri Devanur explained how traditional e-commerce was moving quickly towards “experiences driven” community commerce, and how no company had yet to capture and curate these experience:
“With Runs.com we are looking to leverage the exciting Blockchain technology to allow people to share their memorable moments within the community. Initially, we will be focusing on Cricket, Cinema and Coffee enthusiasts around the world.”
Fellow co-founder and CTO Dr Artit Wangperawong noted the unique ability of blockchain technology to provide the disruptive force across multiple industries, underlining the commitment of Runs.com to bring the very best talents into their team in a bid to create the world’s leading commerce platform:
“At Runs.com, we’re developing the platform along with our signature XKU’s to address the needs of world commerce and to deliver the best experiences to people on one decentralised platform.”
Experience Keeping Units (XKU) will be the primary method to identify units on the Runs.com platform, moving away from the traditional Stock Keeping Unit (SKU) used on typical e-commerce platforms.
XKU is a new way of identifying and tracking the three parameters of experience: story, source and sustainability.
In practical terms, XKU will be the code identifying the product and service for any physical and non-physical item, helping track it for inventory. Differing from SKUs that only reveal product details such as size, style, manufacturer, brand and price, XKU also includes the unique experience details of story, source and sustainability, all stored securely on blockchain as a ledger entry.
Runs.com will aim to be the first e-commerce platform built on blockchain, using unique experiences to target a global community of 2.5 billion people in different interest spheres in 125 cities in 25 countries.
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