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Multiven Open Marketplace

www.MOM.market is the world’s leading blockchain-based marketplace.
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Category
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Shopping
Blockchain
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Ethereum
Publisher
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Multiven Group
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What is Multiven Open Marketplace?
Multiven Open Marketplace - It enables everybody to buy and sell everything such as computers, cars, smartphones, video games, watches, luxury goods etc. on a peer-to-peer basis, without intermediaries, powered solely by smart contracts and one global medium-of-exchange, the Multicoin (MTCN).
Information
Type
Advertising
Blockchain
Ethereum
Platform
Windows, macOS
Publisher
Multiven Group
FAQ
MOM is the world’s most advanced blockchain-based marketplace enabling everybody to buy and sell everything, on a peer-to-peer basis, powered solely by Ethereum smart contracts and one global medium of-exchange, the Multicoin (MTCN);

MOM is like Amazon for the IT industry, decentralised on the Ethereum blockchain, with the following core advantages:

Every transaction creates an immutable proof-of-ownership record on the blockchain;
The absence of intermediaries like Amazon, and OEM distribution sales channels, results in dramatically lower costs of acquisition for consumers.
Put simply, shopping on MOM incurs 0% commission hence whether you are buying a Nintendo switch for 100 MTCN or a core router for 30 Million MTCN, the only fees you will incur is the few euros required to mine (record) the transaction on the blockchain.
Everything! Some of the products that have been sold on MOM include phones, laptops, cars, watches, luxury products, TVs, video games, furniture, and more.
Yes.

Thanks to decade-long global consumer advocacy which culminated in the August 2014 ruling by the Swiss Competition Commission (https://bit.ly/2yJsiIG), all software licenses (operating system and application software) within the European Economic Area (“EEA”) are now lawfully transferable to buyers from anywhere in the world, and the new licensee, no longer have to pay the software manufacturer any money in re-licensing fees.
August 2014. This is when the law came into effect. Hence, you can sell all your EEA-based software with perpetual licences, purchased before, during and after this date.
It doesn’t matter whether you still have a copy of the software or not. What you are selling is your ‘title’ to it. Hence if you no longer have a copy of the software itself, simply include your proof-of-purchase eg Purchase Order, Receipt etc. and the new owner will contact the software manufacturer after purchase, to request a fresh copy of the software.
The Multicoin (MTCN) is an ERC-20 token that resides on the Ethereum blockchain. It is the sole crypto-currency medium-of-exchange on MOM Decentralised Application (DApp). As the sole medium-of-exchange on MOM, you will need Multicoins for all purchases;

Furthermore, to ensure that transacting parties are honest, both buyers and sellers will need to stake refundable Multicoins, equivalent to 2X the price of the asset, for all transactions.

Hence, the more Multicoins you own, the more you can transact on MOM.
You will need Firefox, Chrome, Brave or any other browser with the Metamask wallet extension to connect to MOM.
Sign in to your Metamask wallet and choose one of your public Ethereum addresses. This address will own all the assets you create.
Add MTCN to your Metamask wallet by clicking on “Add Custom token”
Add the contract address : 0xf6117cc92d7247f605f11d4c942f0feda3399cb5
The token symbol: MTCN
Decimals: 18
Click “Get started” or “Sell Now” on www.mom.market
Sign electronically to Metamask to get connected;
Choose one of your public Ether Addresses;
Once connected, click on your image avatar, and then settings to add your screen name, and your preferred mode of communicating with buyers and sellers of your products eg Telegram handle, phone number or email. You contact data will be visible to potential buyers of your products when they click on ‘Contact Seller’
Click on the “Sell Now” button;
Connect via Metamask
Pay 1 MTCN listing fee and confirm on Metamask;
Create your ad detailing the product manufacturer, part number, serial number, software version…etc.;
Click on create asset and confirm to record your asset on the blockchain; (this may take up to 15 mins);
15 minutes later, click on your profile and go to Assets;
Select the asset you’d like to set-for-sale;
Set a price in Multicoins and click the button “Set Price”;
Turn-on the “For Sale” button;
Pay the refundable escrowed 2x asset price on Metamask to validate the sale and confirm;
Your asset is listed for sale on the blockchain and is viewable in search results on MOM.
Sellers, (as well as buyers when they click on 'Buy') on MOM have to stake refundable MTCNs equivalent to twice the value of the product, in order for their ads to be published. This by itself, (a) eliminates counterfeiting, (b) ensures the product is real, and (c) eliminates spam on the Ethereum Mainnet. In the event, that either party is dishonest, e.g. seller advertises an iphone 11 but ships iphone 7 or buyer receives goods and lies he/she didn't receive it, the staked MTCNs will be burned. The fact that they have a lot more to lose by being dishonest, keeps everybody honest.
It is burned.
Creating an ad on MOM is essentially creating and recording, immutably, the identity (serial number, part number etc.) of your asset on the blockchain. This irrefutably asserts your ownership of this asset, globally. As such, asset creation is heavy on code, heavy on data storage, and heavy on logic, all of which result in higher transaction fees paid to miners.

The good news is that it is a one-time cost only. All other transaction fees for the life of the asset should cost only a few cents. The industry expectation is that all of these fees will be drastically lower when Ethereum 2.0 goes live in the next few months.
Search for the asset you are looking for;
Click on it or mouse over the picture to add-to-cart;
Click on your shopping cart;
Click on checkout;
Click Continue;
Fill in the requested information (Name, Shipping address…etc.) and click continue;
Select Metamask and confirm the payment;
When a customer places an order on one of your products, you get notified via a red badge on the notification icon.
Both buyers and sellers will need to stake refundable Multicoins, equivalent to 2X the price of the asset, for all transactions to make sure both buyers and sellers are honest. As soon as the buyer approves on MOM that he/she has received the assets in good working order, the escrowed amount will be released to both parties plus the value of the good/s for the seller.

i.e. : I am selling a PC for 100 MTCN. I will have to stake 200 MTCN to validate the ad. Once the sale is completed, I will get back my 200 MTCN and the sale price of 100 MTCN.
The buyer and the seller will have the opportunity to discuss shipment via their agreed contact channel eg phone call, Telegram or email.
At any time during a transaction, both the buyer and the seller can initiate a dispute if unsatisfied for any reason with the transaction e.g. received goods are not as advertised, are defective or not delivered at all etc. Once the Dispute button is clicked, the transaction will be frozen and an Oracle will intervene to arbitrate. Whomever, buyer or seller or both, that is found to be dishonest in the transaction, will lose their entire staked Multicoins, 5% of which goes towards compensating Oracles and the balance 95% will be burnt.
If you make a purchase and the seller has not shipped, please go to the product page and click on “Contact Seller” to figure out the cause of the delay. Do note that in the rare event that a seller never ships for 30 days, the transaction time-to-live will expire and the funds will be retuned to both parties. The seller will receive his/her staked Multicoins, less 10% of it, which will be credited to the buyer as compensation.
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