TANZŌ is a first of its kind social marketplace for handmade goods, where crafters are protected and craftsmanship is guaranteed. TANZŌ’s distributed ledger technology ensures transparency within the platform, making it as open and as safe as possible for buyers and sellers. The global market for handmade goods has tripled since 2008 and is currently becoming a $100 billion industry. In 2016, India alone exported $5.4 billion in handmade goods, a 15% increase over the previous year. During the same period, both China and Southeast Asia generated over $25 billion. The total size of the US crafts industry is now $43.9 billion, according to new research from the Association for Creative Industries (AFCI). With continuously rising demand, the industry projects that by 2020 the global handmade market will become a $150 billion industry.
TANZO is a blockchain-based social marketplace for handmade goods. TANZO allows crafters to easily create and develop their own storefront profile and list their handmade items for sale. The TANZO community is supported by a reward system of TANZO tokens (TZO), an Ethereum Blockchain based token, created to fuel the platform, incentivize members of the platform and to generate wealth within the community. TANZO’s distributed ledger technology allows for transparency within the platform, making it open and safe for buyers and crafters. It also simplifies the purchasing process and reduces transaction costs.
TANZŌ Token economy
TANZŌ token (TZO) is an ERC20 token.TZO will be used as a utility token for the following platform activities:
Up to 1.5% fee for the platform
Blockchain transaction cost
Crafter rewards and incentives
Buyers rewards and incentives
TZO is the TANZŌ platform enabler. The only purpose of the issued ERC20 token will be as a fuel for the platform. TheTANZŌ platform will not be able to operate without its native token (TZO). All blockchain transaction costs will be covered via the TZO token.Being an integral part of the platform, TZO tokens will be used to facilitate product exchange, which in turn will enable TANZŌ’s global expansion.
TZO functions as a utility token in the trading and rewarding systems. It is used to incentivize users who continually add value to the community. The TZO encourages cooperative behavior among users in the community, which is an important factor in the organic expansion of TANZŌ. All fees incurred for activities such as product listings, renewals, and platform commissions on sales and other activities will be based on TZO. TANZŌ’s fees are projected to be 68%
to 83% lower than those on competitive marketplaces. The fee for a product exchange is as high as 1.5% of the cost of the product and can go down to as low as 0.3%. These fees will be covered with TZO token. No transaction/purchase/product rate or any other platform activity will be done without TZO token.
Rewards for crafters
Tokens will be awarded to crafters for achievements such as:
•Registration Every seller receives a certain amount of TZO. These tokens can only be used to cover the platform fees for his/her first listings.
•First sale Crafters receive 1% in TZO. Basically, this is a bit less than our commission.
•Sales over a certain amount When total sales reach specific milestones such as >$1000 or >$10,000, the seller will receive TZO tokens as a bonus.
Reaching a certain number of followers or ‘likes’
For every 1000 likes for certain product, the crafter receives a reward in TZO. A similar bonus is also awarded for every 1000 followers.
•Rating buyer After a sale has been completed and money has changed hands, the seller can rate the buyer. A reward will be distributed for the rating. A seller can rate the same buyer only once every 30 days.
•Maintaining a high rating Crafters will receive a TZO reward for each month they are able to maintain a rating above 95%.
•Mastercraft status TANZO provides an additional incentive to crafters who are holding a large amount of TZO tokens in their wallet by lowering their listing and transaction fees.