TUURNT - Earn Tokens for Hosting and Attending Events

brainerdpaul (-2)(1)in #ico • 7 years ago (edited)

The Tuurnt platform is the interface between the event hosts and the partygoers. Through the Tuurnt App, event hosts can upload the details of their event or party and from there the partygoers can see to choose which party to attend. This app is not limited to anyone as it is affordable for all and readily available. Tuurnt platform understands the important of security and integrity and have integrated various measures into the platform such as verifying event host, disclosing host address only to people that book the party, the use of escrow payment method in which partygoers pay to the platform first before the party and the host receive the payments excluding the charges 24 hours after the party and a 24/7 support system.

The goals of the developers of this token can be broken down into two;

• To enable users gain extra income when they list their event
• Enable the community participate in events from anywhere

Tuurnt token (TRT), an ERC-20 utility token was introduced to make these goals attainable. Now, partygoers and hosts can exchange payments in a secure way without the additional cost of centralized middlemen. Also, there is a compensation for both parties involved. The partygoers, for attending parties and the hosts, for a specified number of positive reviews.

At the end of it all, what you get is a closed, self-sustainable ecosystem that not only supports event creation and user growth but is also decentralized on the blockchain. So, what exactly can you use Tuurnt for?

• To Create a Party or Event
• To See Nearby Parties in Realtime
• Pick a Paid or Free Party to Attend
• Invite Friends to Events or Parties
• Pay Entrance Fees

MARKET OVERVIEW

For you to understand the market opportunities of Tuurnt, you need a basic understanding of the sharing economy. The number of adults in United States using sharing economy is currently at 44.8 million and is expected to increase to 86.5 million by 2021. Also, based on the rapid growth of services such as Airbnb and Uber, analysts have predicted an estimated growth of $335 Billion in the industry by 2025.

Naturally, Tuurnt was created for people who enjoy parties, social gatherings and events. That’s an age bracket between 18 and 35 in which 40 percent of the population belong to. The platform was created based on in-depth understanding of the Nightlife industry and an event management app which can be described as an overlap of;

• Event platforms
• Photo Sharing
• Shared Economy
• Realtime Video Sharing
• Utility Token on a Blockchain

What this means is that, you can now throw parties with everyone knowing exactly where and when it’s taking place. Interested folks can book or pay through the app, those in attendance can share real time videos and photos with others, and party-seekers can get real time answers to their questions.
Don’t forget, you (the host) receive a reward for all these. How does this work, you ask? Relax, we are getting there.

TOKEN AND ICO DETAILS

Tuurnt platform is presenting a utility token (the Tuurnt token, TRT) which is needed to interact with the ecosystem. The essence of tokenisation is to create value for this project; to this effect, the TRT will serve two main functions: as a means of booking for paid or free event on the Tuurnt platform or transferred to friends or other users as a means of payment for services or as gift. What this mean is that the Tuurnt token is needed to be able to use the platform. For instance, for a user to attend a free party through the Tuurnt platform, the user need at least 1TRT.

The Tuurnt platform is designed to reward both event hosts and attenders in TRT. This becomes an incentive for using the Tuurnt platform and will translate to wider popularity and acceptability.

Furthermore, there will be a wallet for receiving and from where TRT can be transferred to other Tuurnt users. In addition to this, TRT can be transferred from the Tuurnt wallet to other ERC20 compatible wallets.

Token Distribution and Fund Allocation

A total of 500 million of ERC20 compatible Tuurnt token (TRT) is available and this will be distributed as shown below:
• Crowd Sale 33%
• Advisors and Legal 33%
• Development, Marketing, Operations and user rewards 33%

ICO DETAILS

• Hard cap $10,000,000
• Soft cap $500,000
• Minimum Purchase 0.02 ETH
• Maximum Purchase 10 ETH

Tuurnt token, aka TRT is an ERC-20 token, meaning it is created on the Ethereum Blockchain.
It has a total supply of 500m tokens of which 33% will be sold out during the crowdsale.
github source
The percentage given to the team will be released at 25% per year, meaning it takes 4 years for the team to get their full 33%.

The ICO will last for 44 days, 2days being for the presale, and 42 days being for the ICO
The minimum investment is 0.2eth while the maximum investment is 10eth.

Utility and Rewards

This is the part you have been waiting for. Remember that the purpose of TRT is to book events (paid or free) on Tuurnt and share TRT with other users. With that in mind, TRT is given as reward to users based on a specified level system. There are two categories in this level system; event hosts and partygoers.

Based on this category, the reward system is scheduled as follows based on the ratings (for event hosts) and parties attended (for partygoers);

Tuurnt Wallet

The wallet functions like a traditional wallet. Users have the option of withdrawing their TRT and transferring to family and friends. There is also the option of sending directly to ETH wallet instantly, thanks to the ERC20 Token.

In addition, the Tuurnt wallet is linked to the mobile app. That means, you’ll be able to view other users profile and level status, which ranges from Bronze to Diamond.

Payment Protocol

The payment method is simple. Guests pay the hosts for bookings through a smart contract system. The fund is escrowed in a secured wallet till the event has been completed. If there is no dispute between the parties involved, the fund would be deposited in the host’s TRT wallet.
However, the fund would be returned to the partygoer’s TRT wallet if there is a cancellation.

Users can enjoy a low commission on listings and bookings. It’s as low as 2.5 percent for Partygoers and 5% for the host. Also, there is a decentralized peer to peer transaction for users. Yes, it’s free. Finally, the hosts and partygoers are verified. This reduces the chances of fraud.