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Crowdholding will help entrepreneurs determine if there is a market for their business before they ever risk their capital founding a startup.
The Crowdholding platform connects companies with consumers and investors so that the supplier (the company) can co-create their business with the market demander (consumers and investors)–the individuals who will potentially consume the good or service the business provides.
Not only will market demanders be co-creators of businesses, they will be paid by businesses seeking assistance to give their own insights to the company. The process of a business asking for input on a matter, and consumers providing their insights, verifies whether the business is in good standing with consumers and can indicate the success a good or service will experience once it is available to the public.
The Crowdholding company
Crowdholding launched their beta in March 2017. This gave Crowdholding the opportunity to test and study their self-supporting model that revolved around the Yupie token; Over twenty businesses from a variety of fields were part of the beta. In February 2018, Crowdholding will open to the public.
How does the Crowdholding platform work?
Businesses featured on the Crowdholding platform will post one of two types of tasks: tasks that require a crowd-vote, or tasks that require no vote.
No-vote tasks
A task that requires no vote may ask consumers to:
“Help us [the company] build a network with banks, telecom operators, money transfer platforms, insurance companies, e-wallets, cryptocurrency businesses/exchanges, e-commerce platforms, etc. Please answer this task with a referral to any senior executive of management in any of the above industries to earn a bounty.”
A task like this will most likely ask users to: Share five prospective company URLs for 100 Yupies, share the e-mail address of any senior executive (top management like AVP, VP, GM, or CEO for 100 Yupies, or introduce the senior executive of any company in one of said industries via e-mail for 300 Yupies.
In no-vote tasks, when a contributor provides their insight to the task, they will always receive a bounty payment.
Required vote tasks
A task where a crowd-vote is required may ask something like,
“What did you want to accomplish on this website and did you find the information valuable?”
A user might respond,
“Overall it was a visually appealing website, however, I did not see a clear call to action on the main page. As a first-time visitor it took me more than 10 seconds to figure out how to launch a project; it took so long because I didn’t see the project button hidden deep within the menu. The information was not easy to find compared to my expectations.”
In cases where a crowd vote is required, submitting an insight to a task does not guarantee you will receive a bounty payment. In a crowd-vote task, bounty payments will be paid in an amount of Yupie token proportional to the upvotes that a user received on their submitted insight.
Can anybody give insight?
In most cases, any user will be able to give businesses their insights on a task–whether it is crowd-vote or no-vote. However, in special cases, there will be tasks that only qualified users can give insights on.
What does a company do with the consumer insights?
The company will then take the responses they received on their task into consideration when moving forward with their business and apply the consumer insights to their business plan when necessary so that the company can better situate themselves in the market according to consumers’ needs and wants.
Since the task/insight system relies on businesses paying supporters in Yupie, and then supporters using that Yupie to invest in businesses and purchase goods and services, the interests of the businesses and users on the Crowdholding platform are aligned–this drives demand for Yupie while companies build trust and grow support among potential consumers and become more knowledgeable about whether their good or service has consumer demand in a market.
A self-sustaining economy that leads to business ICO’s
The aligned interests of businesses and users make the Crowdholding economy self-supporting, if you look at the diagram below, you will see that the Yupie coin economy flows in a circle:
This consumer-to-business model allows entrepreneurs to know if their business has enough support to be feasible. Crowdholding users will leave insights and give evaluations to let the company know what they need to do to be better situated with consumers in their target market. Additionally, insights from the community will give businesses an idea of the support their company and product is receiving from consumers. Once a business on the Crowdholding platform receives a sufficient amount of user support, insight, and validation for the tasks that they post, that business will receive permission from Crowdholding to launch an ICO.
Interested in investing?
Individuals who use the Crowdholding platform will have the opportunity to co-create businesses with entrepreneurs while reaping benefits from those business by gaining wealth in the form of Yupie tokens. Yupie is a new cryptocurrency that will be paid to consumers for providing their insights, and to businesses as a form of investment.
Crowdholding will be hosting their ICO on November 1st. For more information you can go to the Crowdholding ICO page. If you are an entrepreneur or an employee of a business that is looking to get off the ground and are wondering how you can receive support from the Crowdholding company and join the Crowdholding platform, you can apply here.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
