Users were rewarded with WABI tokens for purchasing and scanning products, creating a loyalty program. How Participants Bought Wabi (2017) Participation involved a standard ICO procedure for 2017:
The Wabi (WABI) Initial Coin Offering (ICO) was a 2017 fundraising event for a blockchain-based, anti-counterfeit project targeting consumer goods in China. The project, later rebranded and ultimately failing, raised $11.5 million in less than 48 hours, highlighting the high-demand, speculative nature of the 2017 crypto market. Wabi ICO Overview November 27, 2017 ICO End Date: November 30, 2017 Total Raised: $11,500,000 USD Tokens Sold: 47,916,666 (Approx. 46m in public sale) Price per Token: $0.25 Accepted Currency: ETH, BTC Total Supply: 100,000,000 Project Mechanism & Purpose how to buy wabi ico
Consumers could scan the label with a smartphone to verify authenticity. Users were rewarded with WABI tokens for purchasing
The project utilized NFC smart-labels on physical products, which were linked to a digital representation on a blockchain (Walimai). Wabi ICO Overview November 27, 2017 ICO End