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Monday, July 23, 2018

URT - Markets For Auctioning Prizes And Employee Awards

Foto Universal Recognition Token, Inc. - URT.

Hello everyone, If you are interested in joining the URT project, it is a good idea to read reviews that can help you get information that might help you in viewing their mission vision:

About Universal Recognition Tokens (URT)

Universal Recognition Token is the first blockchain-based corporate rewards marketplace where employees may auction their gifts, rewards and prizes to the general public.

Employee recognition programs are a longstanding feature of corporate workplaces. Most of the spending on corporate recognition comes in the form of gifts — specifically gift cards and merchandise — to celebrate occasions such as:

  • Sales quota attainment
  • Years of Service
  • Birthdays
  • Promotions
  • Project Milestones
  • Corporate Values
  • Personal Achievments
  • Wellness
  • Company founding anniversary
  • Referral incentives for recruiting
  • Deal / Task Completions
  • Christmas
  • End of Year
  • Valentine’s Day
  • Employee Appreciation Day
  • Memorial Day
  • Mother’s Day
  • Father’s Day
  • Independence Day
  • Labor Day
  • Halloween
  • Thanksgiving
Corporate spending on these categories is significant. in the United States alone, companies spend $90B annual on employee recognition according to Deloitte.

Blockchain-based recognition is the future

1. Liquidity
A substantial portion of the gifts given don’t match what the individual employees actually want. This is because HR departments cannot predict what every individual employee wants, especially as the number of offices and employees grows.

2. Stackability
Because URT is permanently and immutably stored on Blockchain, token value never expires. This means you can accumulate smaller gifts which otherwise would have been wasted into something more meaningful, like a dinner or a trip. It can follow you for life, even if you change employers.

3. Way Better Prizes
Currently, corporate HR departments pick the prizes for all of the employees. This is challenging because employees have many different tastes and are geographically dispersed in many offices. As a result, they usually pick gifts that are either boring or highly generic (e.g. Starbucks gift certificate or a wristwatch). People are used to these gifts — in 2018, they are not very impactful.

Often times many of the best gifts are local and boutique instead of generic. Dinner at a great restaurant in your city, tickets to a local sporting event, or going to see a show that is playing at your local theatre. Central HR departments cannot know all of the great prizes, in all of the cities, all of the time — it’s too much work.

However, with blockchain, we will have public data on which prizes are highest in demand. This means we can have many more prize vendors submit prizes and the system will automatically tell companies to increase quantity and buy more of the in-demand prizes and phase-out and buy fewer of the less impactful prizes.

Token Details

  • CATEGORY : HR-tech
  • SOFT CAP : $3,000,000
  • HARD CAP : $35,000,000
  • TOKENS FOR SALE : 437,500,000
  • TOKEN SUPPLY : 875,000,000
  • BONUS : Tiered, from 50% to 5%
  • DELIVERY DATE : We plan to deliver all contributions within a few weeks of the close of the crowdsale 
Any excess tokens will be burned after the token sale.
At launch, there will be 850 million tokens (or slightly less as any tokens not sold will be burned). We are selling 50% of the tokens (437.5 million) between the pre-sale and public sale, and will distribute tokens shortly after the close of the public sale.

Product Roadmap

You can find out more about the platform or participate in their sales crowd through the following links:

BitCointalk username: Aray80

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