What is Seal?
Seal is the best way for anyone to check if a product is genuine or fake. Seal combines NFC chips, which are embedded into physical products, the Seal app, and the Seal Network to provide a fast, simple, and secure way to provide products authenticity and other services. By facilitating a secure tokenized version of a physical product, Seal allows product-specific services to operate such as transferring ownership, theft prevention, insurance, but also brand activation campaigns and product analytics. Seal lets brands earn money every time their products change owners. For the first time in history, brands can earn money from items sold through the secondhand trade, while simultaneously protecting their markets from counterfeiters. Using the power of the blockchain, authenticity can be checked and ownership can be transferred decades from now, even if the product itself is discontinued, as long as people contribute to the decentralized Seal network.
How does the Project work?
Partnered products will be embedded with NFC seal-chips upon manufacture. These chips will be readable to any NFC compatible smartphone which will determine if a product is fake or authentic. Furthermore, these chips are tamper-free which means that it is secured and reliable in proving the authenticity of a product.
In addition to checking a product’s authenticity, Seal also allows for ownership registration or transfer of a product using the unique product code contained in each chip embedded into the product. In this way, consumers can keep track of their belongings and can report and mark their products if and when it is stolen.
Seal has launched an ERC20 standards-based utility token from the Ethereum blockchain called SEAL. This token will be used as payments for services provided by Seal to either the consumers or manufacturers/brand.
The SEAL tokens have a total supply of 1.2 billion wherein 41% amounting to 492 million tokens will be allocated for the token sale. Of the 492 million tokens allocated for the token sale, 384 million will be available for the Presale while the rest will be available during the Main Sale.
13% of the token supply will go to the team and advisors behind Seal. Their tokens will have a vesting period every 6 months for a span of 3 years. 7% will go to Influence which is for the marketing of the project. These tokens will also have a vesting period every 6 months for a span of 3 years. 22% will be used for future operations in order to expand the project. These tokens will have a vesting period of every 12 months for a span of 4 years. And lastly, 17% will be allocated to Future R&D or Research and Development of the project. These tokens will have a vesting period same as of the tokens allocated for future operations.
So far, a total of 99 million SEAL tokens have been sold wherein tokens are priced at 1 ETH = 7000 SEAL tokens. All the unsold tokens during the ICO will be distributed to all token sale participants which is a good thing for investors considering that 492 million tokens are allotted for the token sale.
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