According to NEST’s State of the Handworker Economy 2018 Report, the global handicrafts market is expected to reach $984.8 billion by 2023. There has also been an increase in consumer demand for authenticity, personalization, and handmade items.
However, there still exists significant challenges for artisans in the developing world that result in difficult questions which need to be answered. For instance:
How are these artisans operating in today’s market? What are the major barriers preventing these artisans from directly participating and thriving within the global market and how can they remain sustainable for the foreseeable future?
This is where AFOMA hopes to make a significant difference and impact through its blockchain-integrated multi-vendor handicraft marketplace, SELLITIC. The SELLITIC marketplace will allow merchants (artisans and artists) from Africa and across the globe (with emphasis on the developing world) to list their products on its platform. SELLITIC will have affordable fees that will allow for inclusion and fair market access. In addition, our merchants will be able to deliver their products across the globe, without having to pay upfront shipping costs.
SELLITIC will leverage the features associated with Web3.0, blockchain and cryptocurrency technology. On this platform, buyers and sellers will be rewarded based on their marketplace engagements and contributions. The AFOMA token will be used to incentivize purchases, referrals (affiliated marketing) and customer feedback.
SELLITIC will enhance the handworker economy by breaking barriers such as fragmented payment systems by offering cryptocurrency as an option for payment which allows our merchants to retain a large portion of their revenue. This is achievable through the elimination of intermediaries which is existent in current banking systems. Furthermore, we will also be leveraging and incentivizing individuals to contribute towards the sustainability of the marketplace by providing services such as assisting with onboarding merchants that lack digital skill sets required to successfully list and sell their products on the marketplace.
SELLITIC uses the power of blockchain technology to incentivize and decentralize its market place and putting money back in the pockets of artisans and artists contributing to the upliftment of millions around the globe.
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