Marketplace Developer Aims to Give Away 6.4 Billion Cryptocurrency Tokens

Marketplace software developer OmniBazaar, Inc. announced an initiative to distribute 6.4 billion free cryptocurrency tokens to users of its distributed e-commerce marketplace, OmniBazaar. The free tokens, called “OmniCoins,” will be given to new users who join the marketplace, users who refer other users, and users who make their first sales in the marketplace.

Giving away cryptocurrency also known as an “airdrop” has become an accepted method of expanding the user base of a new coin. Airdrop participants are often required to do some small tasks, such as joining social media channels or forwarding a company promotional message.

Read More: Interview with Angel Gambino, CEO and Founder of Sensai

To receive the free OmniCoins, users must install the OmniBazaar application, which includes the OmniCoin wallet. New users who join OmniBazaar’s Twitter feed, Telegram group and MailChimp newsletter receive up to 10,000 OmniCoins. A referral “bounty” of up to 2,500 OmniCoins is also available for referring friends, family or followers. Users who create a product or service listing in the marketplace also qualify for a “First Sale” bonus whenever a new person purchases from them.

“We are excited to be able to give users free OmniCoins as a way of introducing them to Omnibazaar,” said co-founder and CEO, Richard Crites. “People who receive OmniCoins can then immediately exchange them for products and services in the marketplace.”

Read More: The Top 5 “Recipes” That Give AI Projects a Higher Likelihood of Success

OmniCoin is one of three cryptocurrencies supported by the OmniBazaar marketplace, along with Bitcoin and Ether. The OmniBazaar marketplace provides a simple “gateway” for new users to enter the cryptocurrency ecosystem. It allows users to list products and services that they can “barter for crypto” in the marketplace. This allows users to acquire cryptocurrencies with every sale.

The 6.4 billion coins in this promotional campaign represent about 26% of the total number of OmniCoins that will ever exist. The give-away is not limited to a specific time but will continue until all of the allocated OmniCoins have been distributed. OmniBazaar has allocated 1.4 billion coins to the “Welcome Bonus” for new users. Another three billion coins will be distributed as “Referral Bonuses” to users who refer other users. Two billion coins will go to users who create listings in the marketplace. This “First Sale” bonus is paid whenever sellers make a sale to someone they have never sold to before.

The OmniBazaar marketplace is now open and operational. Anyone can download the free OmniBazaarsoftware

Read More:  Fluor Uses IBM Watson to Deliver Predictive Analytics Capability for Megaprojects