HoToken ICO: Company Review and HTKN Token News Updates

HoToken HTKN ICO: HotNow’s Cost-Effective Marketing Platform?

HoToken HTKN is a promotional token offered by HotNow, a Thai company whose app connects retailers and customers. The company asserts that the HoToKeN is not a currency, and is instead meant to be used by retailers to offer discounts and promotions, but its token sale does closely resemble initial coin offerings.

About the HoToken HTKN ICO

HotNow is a popular app in southeast Asia, already used by hundreds of thousands of shoppers to find promotions at local retailers. The app offers retailers a highly efficient and affordable marketing tool.

The company is closely partnered with several video game developers, and their app includes a few games to engage customers, which will eventually reward players with HoToKeNs. The company’s ultimate vision is to benefit both merchants and customers through an engaging app that uses HoToKeNs – and the discounts they unlock – to incentivize regular participation.

The Product

HoToKeN’s whitepaper states that it is not “not intended to constitute … currency of any kind,” but it does seem to share many characteristics with them; during the initial token offering, a HoToKeN is worth ten cents, and they note that its value will likely fluctuate over time.

The primary purpose of the HoToKeN is to catalyze transactions in the HotNow network of companies. Retailers may accept HoToKeNs as coupons that activate a discount, or offer them as part of a rewards program. Customers may also earn HoToKeNs from HotNow in return for inviting new users to the app, rating merchants, or playing games on the HotNow app.

All HoToKeN transactions are recorded in a blockchain, which the developers note can be used for market research, and to also to establish credit profiles for customers who haven’t previously built one. Blockchains are a relatively new technology, developed to power the cryptocurrency Bitcoin; they securely record transactions in such a way that the data cannot be altered, since each successive entry contains a piece of information from its predecessor.

Using a blockchain to record HoToKeN transactions will guarantee a permanent and stable record, but it could compromise users’ anonymity depending on how HotNow and its retailers use the data.

HotNow’s app seems to resemble other existing services like Groupon, whose model has proven successful by allowing merchants to offer exclusive deals to users. Introducing a promotional token to this system could add an intriguing new dimension, but the business model is already popular without such a feature.

The HoToken HTKN ICO Opportunity

HotNow is offering an initial sale of HoToKeNs; it is currently in pre-sale, and the full initial token offering is scheduled for February 2018. During the pre-sale period, customers may be able to purchase HoToKeNs at deep discounts, as great as 65%.

A maximum of three billion HoToKeNs will be sold by the end of the initial offering, though more may be available later. It is not clear whether the HoToKeN will be traded on currency exchanges following its sale, or how widely it will be adopted by HotNow’s users.

Due to regulatory hurdles, the HoToKeN is not yet available for citizens of the U.S., China, or South Korea.

The HoToken HTKN ICO Verdict

If the HoToKeN works as HotNow plans, it could be of great benefit to both retailers and consumers in southeast Asia. Similar systems offering marketing through exclusive deals are already popular elsewhere in the world without any such feature, so it remains to be seen whether the HoToKeN will gain popularity.

As an investment opportunity, it seems risky, even for users who shop exclusively through HotNow; they can’t be certain that their favorite retailers will adopt the program, and they may not be able to resell the token if it’s not listed on public exchanges. Customers concerned about privacy may have reservations about using the system, since HotNow mentions that they’d like to record all user transactions.

HotNow could be worth a try for both retailers and consumers in southeast Asia, but it’s probably wise to pass on the HoToKeN until it’s worth is better established.