The public sale for the eagerly awaited Opiria ICO has just got underway, with the pre-sale having recently concluded.
Opiria is a platform that will allow you to complete surveys and provide data to companies, in exchange for tokens. It will allow people to control their personal data and earn some passive income from it.
With personal data becoming a hot topic in recent times following a wave of scandals in which data has been misused, the Opiria ICO is very timely and is a step in the right direction.
Let’s take a look at the key information you need to know ahead of the public token sale.
Just to recap in case you haven’t been following the project, Opiria is a company that already exists and undertakes market research for Fortune 500 companies including Mercedes, BMW, Audi and GM. Now they are launching a new cryptocurrency-based project to allow the transference of data between people and companies seamlessly over the blockchain.
There will primarily be two types of data on the Opiria platform—surveys and diaries. Surveys will be more like traditional forms of market research where you answer a series of questions, whereas diaries will be giving feedback on a product over a period of time. This feedback could include text, pictures, audio and videos.
Opiria even plan to add features such as eye tracking and emotion analysis to the platform to track people’s reaction to items in real time and provide that data to companies.
All of this will be consent-based, so people using the platform will have complete control over what data they provide and to whom. It will also be anonymous, so on signing up you would only have to provide data such as your gender, age and country.
The PDATA tokens will be the native tokens used on the Opiria platform for payment. So for example when downloading the app and signing up, you will be rewarded with tokens. Then when you provide some initial data, you will receive further tokens.
And when a company wants to conduct a survey, it can contact users on the platform and ask them if want to participate in a questionnaire or diary for an agreed number of tokens.
Then if you agree to that, a smart contract will be initiated on the blockchain and upon completion of the survey you will be provided with tokens. Thus the system completely takes out the middleman from the process and automates it all using blockchain technology (on the Ethereum blockchain).
Opiria will hold on to some of the tokens (approximately 13%) to ensure there is always a supply for companies to use and there will be reward levels (gold, silver and bronze) for users of the platform based on how many tokens they hold.
Those in the higher bands may be contacted first on some surveys, thus giving a small time advantage to those holding larger amounts of tokens.
The pre-sale has just finished and the main public sale is due to start on 16th June and run until 14th July.
The hard cap for the token sale will be $30 million, although if that target is reached in the first 5 days of the main sale the hard cap will increase to $35m. There is no soft cap as such but there was a hidden cap for the private sale.
The price of the PDATA tokens will be one token = $0.10. The price in ETH will be adjusted every day to keep to this value.
The total token supply will be 750 million tokens, with 60% (i.e. 450 million tokens) being used during the Token Generation Event (TGE).
Of the remaining tokens, 13% will go into the development fund, 20% will go to the company/team, 5% to advisors and 2% to the bounty.
There will be a 15% bonus on the first day of the public token sale, reducing by 1% each day until it hits 0%.
Yes, all unsold tokens at the end of the ICO will be burned.
Firstly you will need to go to the Opiria ICO page and register.
Then you need to provide your KYC information.
You can then buy PDATA tokens using Ethereum (ETH), Bitcoin (BTC) and Ripple (XRP).
At the moment there is no minimum investment level for the main public sale, but for the first 4 hours there will be a maximum investment level of 1 ETH.
So those are main details for the TGE.
If you have any questions about the ICO, please let us know in the comments below.