A cryptocurrency marketplace driven through the blockchain
April 23, 2018
April 23, 2018
I want to propose a new way to think about the physical possessions we own. Changing how we think about our things is a critical part of thinking forward into the digital future we are heading toward. Junktion is creating a cryptocurrency marketplace to help people connect with there favorite items by having the ability to sell it to people.
I want to change the way you think about your items
This new theory of thought is made possible through Junktion.io. Junktion is creating a cryptocurrency marketplace devoted to bridging the gap between physical good and digital asset.
The Junktion advantage to buying and selling
The advantage to selling on the Junktion cryptocurrency marketplace is that you receive the cryptocurrency of your choice without any fees associated with it. Traditionally when you sell an item online and wish to obtain a cryptocurrency the money you would get from the sale of the item would exchange hands up to 3 times, all of which will have fees associated with it.
If you were to sell on ebay you would have upwards of 14% in fees.
Don’t worry there is more.
Paypal takes a 3% plus a $.3 fee from the sale price of your eBay item
If you didn’t choose any of the eBay marketing ideas then you are left with a laughable 17% fees. It gets worse.
Depending on the cryptocurrency exchange there are both purchasing fees and withdrawal fees associated with buying cryptocurrency.
To see more about the fees associated with buying and selling a cryptocurrency click here.
An average use case might be the following:
Let’s say someone has a ton of old media players, like an old ipod and they are looking for one of two things. They can be looking for a way to obtain cryptocurrency without spending money. Or they can be looking to buy something else. What if this user wants to redo his wood floors as well and is looking to trade his old ipods for items that he needs for his flooring job.
This is where the liquidity that Junktions cryptocurrency marketplace provides can help the average person.
If a person has a one time use for an item and they do not want the item anymore they can always recycle it back into the Junktion marketplace. Effectively by buying an item and reselling it back into the circular economy. Imagine selling an item you almost never use and buying it back at a profit the next time you want to use it.
Items depreciate in price while cryptocurrency appreciates in price
Junktion has a unique value proposition as a cryptocurrency marketplace. We are offering a liquid amount tied to your physical good. So unlocking the value in a collection of something you have can be easily done. Holding the value of the collection in cryptocurrency will allow you to in theory purchase the items back at a profit.
Let me explain:
Items decline in price. Almost all of them, The moment you drive a car off the lot it is worth less than what you paid for it. Junktion is a way to have our users profit and hopefully be able to buy back the items they put into our cryptocurrency marketplace. Due to the natural fact the items decline in price, while cryptocurrency increases.
In this school of thought, there is a way that allows you to transform your physical items into digital assets. A cryptocurrency marketplace that instantly allows users to receive an offer for any physical item you own and converting it into the cryptocurrency of your choice. Junktion takes care of everything. Start to finish.
What is Junktion
Junktion is a dapp that will have a familiar look and feel that other dapps have but be dedicated to selling physical goods. Junktion serves multiple purposes to contribute to the circular economy and cryptocurrency marketplace we are creating. As of now, Junktion will help with the following:
- We are buying items and paying out in the choice cryptocurrency our sellers would like
- These items will be placed into our ecosystem and sold for Scraps. You earn scraps by selling to us and having your items contributed to the Junktion ecosystem.
- Junktion will ship all bought and sold items, this will maintain quality control as well. For both buying and selling.
- Junktion will dispose of items in a way most meaningful. Junktion will work similar to an auction format that crypto kitties works. However, once the auction dips below a certain increment of Scraps we will dispose of the item, essentially deleting from the earth in the most green and responsible way
- Junktion will also mandate the circular economy
Junktion allows users to quickly and easily turn items into cryptocurrency. The Junktion ecosystem rewards users for buying and selling and pays in scraps every time a user contributes toward the circular economy.
Why I came up with Junktion
I am a bit of a hoarder myself, a collector if you will. The type of person who sees something and has to have it. I summed it up pretty well in this reddit post.
Junktion will bridge the gap between physical goods and digital assets.
Junktion gives people liquidity to their items, and once we purchase the item from you it will be put for sale on our website and sold for scraps. (To learn more about our erc20 token you can see this article)
If you are interested in contributing to Junktion in any way please email us: firstname.lastname@example.org
I would love to collaborate with anyone with a passion in the space.
How we plan on incorporating the blockchain to our business:
We plan to create the new standard of selling physical items through a blockchain, a circular economy and cryptocurrency marketplace. A place where people can buy and sell items for cryptocurrency.
We want our site to recognize the wallet address and have a physical address tied to it as well.
We want to create a seamless, one-click instant transaction that the ETH network provides and create a seamless e-commerce solution using the Ethereum network on our cryptocurrency marketplace.
We are looking for developers, marketers, and people who want to be a part of this incredible new process of buying and selling in the digital age. If you are at all interested in contributing your items or time to Junktion.io please email email@example.com