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August 4, 2018
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Universal Recognition Token ICO Review
Giving gifts can be difficult, especially if you do not know the person very well. In large families, this often results in Christmas presents politely being put aside until after the holidays, where they are promptly exchanged for something the person actually wants. In a corporate setting, it is easy to see how this problem would be amplified even more.
Companies want to motivate their employees to work harder and reward them for their efforts. This is often done with corporate gifts, and often with the same result as the Christmas present scenario described above. Small companies might know each individual employee and give them something they actually want. But in a corporation that employs hundreds or thousands of people, the likelihood of the HR department correctly guessing what each individual employee would like is slim to none. This means that, as with the Christmas presents, corporate gifts are often left unused or traded for something else. Studies have shown that over $90 billion is spent each year on corporate gifts in the United States alone.
What is the Universal Recognition Token?
The Universal Recognition Token (URT) is essentially an online marketplace where recipients of corporate gifts can auction their gifts off to the general public. Once a gift has successfully been auctioned off, the seller receives the value of the gift in cryptocurrency tokens. The seller can then choose to purchase something else with these tokens, trade them for other cryptocurrency tokens or fiat money, or simply save them for a larger purchase or investment. The value of the URT tokens will never expire, even if the person holding them changes employer at a later date.
What is the URT token?
The URT platform is using the Ethereum blockchain, which means that the URT token is utility tokens that comply with ERC20. The value of the URT token is based on the total value of the items being auctioned off on the URT platform. The URT tokens can be traded for other cryptocurrency tokens on cryptocurrency exchanges around the world.
Who is behind the URT?
The head of this project is Brendan Ward, who is functioning as the CEO of URT. Ward is a seasoned veteran entrepreneur and has worked with AGS Studios, which have products in the app stores for Apple and Google devices. Working alongside Ward will be a team of professionals and experts in the field of cryptocurrencies and online marketplaces.
Conclusion
The rationale behind URT seems perfectly sensible, and the team has definitely identified a gap in the market. The concept itself is pretty straightforward, which will make it easy for anyone to understand and subsequently invest in. The interesting part will be to see how much the value of the token goes up as more and more people auction items off on the platform. Sellers of corporate gifts could potentially make much more than the value of the item they have sold, as the value of the URT token goes up.
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