[ICO Review] WeBloc

Disclaimer: This is not in any way professional advice, and is solely based on the author’s own opinion. This is not in any way an advice to invest, or not invest in the network.

weBloc Protocol is a blockchain based Alliance Protocol to tokenize the conventional advertising ecosystem that us also is ICON’s official advertising protocol.

weBloc is a project based on blockchain trying to develop a new digital advertising ecosystem firmly believing the value digital advertising should be focused on its essence. In other words, the players in the market need to stop focusing on the competition for scaling-up based on advertising fees and develop a structure where users can voluntarily participate in the advertising ecosystem.

Inside the weBloc ecosystem, all users can participate in advertising campaigns if they want. With the tokens they received as the participation rewards, users can use the tokens to gather other participants inside the ecosystem. The weBloc ecosystem will be established on such a circulating structure.

The weBloc ecosystem consists of advertisers, middlemen, and participants.

Advertisers :
- Advertisers are the ones who execute advertisements. The weBloc advertising platform provides a circulating structure where both users and middlemen can create advertising campaigns based on purpose from advertisers’ side and gather participants.
-Advertisers can evaluate and quantify the activities and contribution of middlemen and AD participants to earn tokens as rewards that can be used to start new advertising campaigns.

Middlemen :
- In the weBloc advertising platform, those who take actions to spread the registered advertising campaigns to the communities in the weBloc platform and gather AD participants instead of advertisers can be defined as middlemen.
-Middlemen can get tokens as rewards based on the evaluations from AD participants and their contribution levels.

Participants :
-Participants refer to the users participating in the advertisements exposed to them through advertisers or middlemen. Participants can become advertisers and middlemen by themselves and contribute to the spread of advertising campaigns.
- Users can get the token rewards based on their AD participation and contribution levels.

ICO

• ICO: 12 Nov 2018–31 Dec 2018
• Token Price:
  Token Swap Ratio (1st stage pre-TGE)
  1 ICX = 300 WOK + 60 WOK (20% of BONUS)
  Personal Cap
  min. 1,000 ~ MAX 20,000 ICX
• Accepted Payment Method: ICX
• Token Standard: ICON
• Hard Cap: 6523000 USD
• Soft Cap: 2372000 USD
• Available for sale: 4,000,000,000 WOK Token (40%)
• Total supply: 10,000,000,000 WOK Token
• Country: South Korea

Currently the 1st stage of pre-TGE has ended and according to their blog post, the period for the 2nd stage of pre-TGE has yet to be decided but will start once the price of ICX is around $0.35~$0.40.

To participate in the TGE, a ICONEX wallet and registration on weBloc’s whitepaper is required. Click here for the full guide on weBloc’s website.

Progress

On November 2018, weBloc released their first PoC for weCon. Through this short teaser, it is certain the weBloc is definitely working hard on bring thier project to life. And hopefully the beta version will be available soon enough for users and investors to test out.

weBloc is also actively involve in with ICON’s activities in expending their project in Jeju Island, South Korea, as the Jeju government is looking to make the biggest island in Korea a crypto hub.

In fact, we can see weBloc very much involved in the Korean cryptocurrency market along side with ICON despite the sudden drop in the market during the recent months.

Overall, considering weBloc is the official advertising for ICON, we can be sure that as long as ICON is doing well, weBloc will definitely not be far behind. For more info on weBloc, check out their website!

J.D.