universal recognition tokenPeople receive gifts for various occasions and reasons, but what do they do when they receive gifts that they do not like or need?
In United States, the corporate gift sector spends over $90 billion each year on employee gifts via employee recognition programs that acknowledge outstanding employee achievement. Usually, these gifts come in the form of gift cards or merchandise and some employee are happy about them. However, not all employees are happy with their gifts and they discard them without second thoughts. Just imagine the amount of money and value is wasted every year because employees hardly get what they actually want to receive.
Fortunately, an ambitious new project, which is currently undergoing ICO, is creating a marketplace where people can monetize their unwanted gifts.
$90B. This staggering number represents the annual size of the corporate rewards industry. Combine this with the FACT that a huge % of these rewards go unused. How many more billions of dollars in prizes need to go to waste?
Good thing there’s a marketplace for this now! #URT pic.twitter.com/AHME42eLXY
— Universal Recognition Token (URT) (@ur_token) 21 iunie 2018
What is Universal Recognition Token?
According to their website, Universal Recognition Token is the first blockchain-based corporate rewards marketplace where employees may auction their gifts, rewards and prizes to the general public.
The Problem
Companies spend a significant amount of money to motivate and show their appreciation for their employees and offer them corporate merchandise, standardized gifts, vouchers or gift cards. However, the spending is not going towards items that the employees really want. HR departments cannot predict what every individual from their company wants, especially as the number of employees and offices is constantly growing and changing. Most gift cards and corporate merchandise end up sitting unused on shelves or in boxes in dusty garages. It is a shame that huge amounts of money get wasted without reaching their goal.
The Solution
Fortunately, a new project built on top of the Ethereum blockchain plans to solve these problems by creating a marketplace where people can monetize any unwanted corporate gifts that they have received. URT is permanently stored on the Blockchain and the token value will never expire. You will be able to stack up your tokens, even if you change your employer.
Here’s the key problem we’re trying to solve with URT — the fact that a substantial portion of gifts and rewards DON’T actually match up with what the employee truly wants. Our #blockchain marketplace will be the best way for employees to get exactly what they want. #HRTech pic.twitter.com/klJG2L3LuK
— Universal Recognition Token (URT) (@ur_token) 13 iunie 2018
The Token
The project will be backed by URT utility token, which is ERC20 compliable. The purpose of the token is solely for use in transactions on the URT network. URT removes transactional inefficiencies and is ultimately indirectly linked to the value of all the auctioned assets in the system.
This project is currently undergoing ICO and you can purchase their tokens with a discount and support this project from its early stages. The presale token price will be $0.08 and the crowdsale token price will be $0.12. The soft cap will be $3,000,000 and the hard cap $35,000,000. There will be a total of 437,500,000 tokens for sale, out of the token supply of 875,000,000. THe tokens will be delivered within a few weeks after the end of the crowdsale.
The Team
Behind Universal Recognition Token lies a visionary team of experts and advisors in all the fields required to bring this project to its full potential. The CEO is Brendan Ward, a serial entrepreneur who has previously led the team at AGS Studios, a mobile application incubator with popular titles in both the Apple and Google Play Stores. His previous experience recommends him to lead Universal Recognition Token to success.
Conclusion
In conclusion, Universal Recognition Token is creating a marketplace from a problem that nobody seemed to notice. With an original vision and a team dedicated to bring this project to its full potential, employees will soon be able to monetize their corporate gifts and get the things that they actually want.
Universal Recognition Token is currently undergoing ICO and you can be a part of this promising project from its early stages. I recommend you to take a look on their WhitePaper https://s3.us-east-2.amazonaws.com/urtoken/URT-WPv07b.pdf and website in order to perform your own research: https://urtoken.net