Many innovations are surfacing with the eruption of the DeFi and Blockchain Technology. One such innovative project has stood out in the Decentralized market, named ‘Curate’.
Curate is a peer-to-peer discovery marketplace app supporting crypto payments and rewards.
What is Curate?
CURATE is a Decentralized App (dApp), run and hosted by numerous systems across the globe called nodes. All user data on the platform is secure with cryptographic algorithms and end-to-end encryption.
Curate is an online marketplace and social media platform that allows sellers to showcase their products on fashion clothing, gaming, crypto assets, health, beauty and more. However, instead of a centralized server, it utilizes the decentralized blockchain network as payment infrastructure, a means of providing royalties and rewarding engagement on the platform, i.e buying, selling or engagement.
Curate is the first of its kind platform that allows customers to have the liberty to pay using fiat currency, cryptocurrencies like BTC and ETH, or platform-specific XCUR. If you use XCUR for in-app purchases, customers get charged no gas fees for the same. In return, you can earn the XCUR by using the dApp, similar to mining.
The most important feature is the use of Blockchain technology for transparent transaction and dispute settlements.
Curate is a unique dApp that is trying to normalize shopping using Blockchain Technology.
Here is how the Decentralized app works.
- Merchants can showcase their best products/services for sale on the platform.
- The community curates the content in exchange for XCUR tokens and account karma.
- Buyers on the app discover the products/services and can pay using a wide range of payments such as credit/debit card, PayPal, BTC, ETH and XCUR* (*zero gas fees).
- Blockchain technology prevents fake reviews, upvotes and provides a trusted platform for inspiration.
The Curate app will soon use Remote Frequency Identification allowing customers/users to track the origin of physical products. It also provides other information such as manufacturing, procurement of the garments. The app also supports the growing trend in NFTs and digital goods and services i.e gig economy.
Online shopping Industry
The online shopping industry is estimated to be worth around $3 Trillion worldwide. The perks of ordering the products from the comfort of your bed proved its convenience and captured the global markets. However, it also has its drawbacks.
You can get scammed because of the fake reviews on these websites, and only fiat currencies get accepted as payments. All the existing online marketplaces are owned by centralized companies, which give them the liberty to modify the rules. The introduction of blockchain technology can solve these problems once and for all.
Curate launched its platform-specific ERC-20 and BEP-20 token and listed as XCUR in October 2020. The journey that started in January 2019 has become a successful venture.
The token launched in the fourth quarter has already gained momentum, and an average of 5.33 Million coins are in circulation on the cryptocurrency exchanges. A total of 8,500,000 coins are valid to date for transactions.
It serves as a multi-use utility token offering users many use cases on both the Curate DApp and outside the Curate ecosystem.
Here are the use cases:
- In-app purchases
- Account upgrades
- Access to XCUR exclusive items
- Website purchases (website launch Q4 2021)
- Use on our future Curate products
Future of Curate.style
The Development and management teams have set an aggressive roadmap to launch the first version of dApp in the First Quarter of 2021, debuting in March 2021.
They are also in the process of getting XCUR listed on Top 40 exchanges to increase the reach and liquidity of the currency everywhere, followed by a Curate community meet in the Second Quarter of 2021.
Curate has pledged to donate to charity events in the third quarter, and finally, they plan to launch the second version of the Decentralized application in the last quarter.
Curate has the opportunity to set the benchmarks high for dApps that offer day-to-day services such as shopping other than finance using Blockchain technology.