In my previous post, we looked at the reasons why Qravity is the best solution to the challenges facing project collaborations and funding. In this article, we will look closely at how the platform works.
The platform is equipped with project management tools that enable teams to execute projects from conception to completion. It also enables them to launch the project to the market by selling to appstores and distributors. Thus, the whole process of starting and completing a project, which is usually very cumbersome, is made simpler.
The contributions of team members are tracked using smart contracts which are published on the blockchain such that they earn Qravity Project Tokens (QPTs) allocated to that particular task by the project founders as soon as the task is reviewed and approved. As such, they cannot be traded on exchanges but are exclusively used in the platform. These tokens correspond to a share in the project ownership and are created with Ethereum smart contracts so that developers can know upfront what the rewards will be upon completing the task, thereby eliminating disputes. As they complete more tasks, they earn more QPTs. This encourages healthy competition and motivates them to give their best towards the success of the project. To keep the platform running, Qravity will receive 10% of the total QPTs allocated to a completed project.
As the project is being marketed, the developers are incentivized using Qravity (QCO) tokens the consumers pay to access the contents. These QCOs are the currency used in the platform and tradable on exchanges. The amount of QCO they will receive is based on the number of shares they have in the project (which is a measure of the QPTs).
As more people come in and it becomes necessary for the platform to become robust enough to handle the myriads of tasks, upgrades will be made to the smart contracts. This will ensure a seamless transition from a small remote-based platform to that which can adopted for use worldwide.
It is also possible for consumers to buy a certain amount of product contents at a discounted price before the project is completed in order to raise funds for quick completion of the project in a mechanism known as QCO Boost. After the project s completed and is ready for distribution, the Boost is no longer relevant.
Early investors can purchase QCO tokens at the website at a token price of 0.0002 ETH. The value of the QCO token is expected to increase as people consume content on the platform. The presale is ongoing with a bonus of 30% which will end on 31st August. The crowd sale will start on 1st September and end on 7th October 2018 with bonuses based on a weekly schedule. The bonuses, however, decrease with each passing week.
For more information, visit their website, Telegram Group, whitepaper and ANN Thread.
