Marco Token (MRC) is the unit of exchange, the bearer of value, and the rights of governance in the Marco ecosystem.
MRC is a digitally encrypted virtual currency and a functional utility token that will be used as a unit of exchange on Marco.
It is worth mentioning that at present, the total supply of Marco Token is 99.000.000.000 MRC.
1. Token Sale: 35%
2. Ecosystem: 25%
3. Blockchain and Rewards Pool: 15%
4. Team and Advisors (3 Years Vesting): 15%
5. Company Reserve: 10%
1. R&D and Platform Development: 50%
2. Marketing: 20%
3. Operational Expenses: 20%
4. Advisory: 10%
The value of the ecosystem multiplies when tokens can bring more use-cases and utilities into it. Marco is not only used to incentivize content but also as a unit of exchange for real goods and services and other various use-cases that can be devised by ecosystem participants. MRC is the currency within this ecosystem that can be adopted by travel businesses and 3rd party developers. It is also the base currency for token offerings by businesses in the ecosystem.
We will use the Marco app as an example to demonstrate the use cases of MRC, which are content, transactions, and advertising.
To incentivize content creation, it is of utmost importance to have a fair and decentralized system to attach value to the various forms of content created.
There are 3 ways that content creators can be rewarded.
• From the system: There will be an annual supply of MRC and airdrops from the reserve to reward content creators and curators.
• Peer-to-Peer: Users can choose to reward content creators who provide valuable information by paying MRC directly to them.
• Venues-to-Users: Business venues can reward users who create content about their venues by offering payment in MRC. Conflicts of interest can be avoided by using a smart contract system that ensures payments are independent of whether the content is positive or negative in nature.
The Marco app will operate on a zero-commission basis for transactions, which will provide significant savings for the vendors (hotels typically pay 15-25% commission to OTAs). Vendors transacting with tokens will also save on the various transaction costs associated with foreign currency conversion and cross-border bank charges. These real savings will help to kick-start the ecosystem by drawing more quality suppliers to the community. Businesses are encouraged to provide 3-5% loyalty rebate in MRC directly to the consumers from the commissions saved for transactions, in exchange for cross-vendors user data by consent.
In a perfect scenario, MRC would be the means of payment for all transactions within the ecosystem for goods, services and activities. We do recognize that the full adoption of the token as the only mean of transactions will require a strong network effect, which will take time. As such, we will adopt a gradual approach to e-commerce transactions.
In the early stages, we will start by issuing coupon purchases via MRC. Venues
are encouraged to issue coupons on the platform which can function as discount vouchers on food & beverage or redeemable services such as room upgrades. Vouchers will have real value and utility to consumers but will not constitute such
a large current account exposure to vendors. Vendors can treat them more as advertising and promotion expenditure. As the network effect of the platform grows and usage of digital currency spreads, vendors will develop full confidence in the stability of MRC. At such time, full token payments for goods and services will be rolled out.
Marco will accept payment in fiat and convert it to MRC on the users’ behalf with a 5% service fee. Fiat raised via service fees will be used to purchase MRC, which will be added to the reserve.
Marco can also be seen as a distributed network of user profiles with complete cross vendor's purchase history and transactional data of the entire travel ecosystem. Enabled by blockchain, it provides a revolutionized new opportunity for consumers and advertisers to connect. Travel businesses are able to use MRC to pay for consumer's profiles and direct marketing on a consent basis at the Marco platform. Advertisers have the option to pay in fiat, which will then be converted into MRC, with an additional 5% charge.
The Marco app, as an example, will provide direct engagement between users and advertisers. Users can opt-in to disclose their own data and receive promotional info. In this transparent and decentralized system, advertisers will have a greater return on investment as the middleman is removed and they pay for direct and more effective 1-to-1 engagement with consumers. This more efficient advertising economy benefits both the advertisers and the consumers.
Here are 4 examples of advertising features that will be provided by the Marco app, a DApp developed by the team on the Marco Network.
An ad-placement back-end will be developed and made available on the Marco Network. Advertisers can then choose to target relevant demographics and socio- graphics, paying the respective costs in MRC. Combined with user-profile analysis aided by AI, the platform will assign a value to each individual account. The platform will record who clicked through on display and in-feed ads on the Marco App, and the advertising proceeds will be paid in MRC.
Users can opt-in to disclose their user profile and choose to receive advertising from approved brands directly in their inbox on the Marco App. Based on user profiles, AI would recommend relevant brands and advertisers to the users. On a per-click basis, the advertising revenue will be paid directly to the consented consumers.
Venues can directly encourage the creation of content for their venue by adding bounty rewards. To avoid conflict of interest, Smart Contracts can be set up to ensure that payment is not dependent on the positive or negative nature of the opinion but the popularity of the content.
The world’s biggest KOLs already have amassed millions of followers on social media. On the Marco App, we provide a direct engagement channel. KOLs are directly marketing their services and will benefit from zero transaction fees on our platform.