What Is Wabi (WABI)?
Wabi (WABI) is an ecosystem that aims to enable fair value transfer between consumers and brands. The ecosystem aims to make the marketing channel an efficient place for participant brands. Using Wabi ecosystems, consumers can utilize several tools to better consumer choices. In contrast, brands can make superior marketing and strategic decisions from the unique data set obtained about consumer behavior through the Wabi ecosystem.
Existing communication channels severely restrict 'what' and 'how much' needs to be communicated to the consumers. Not only this, but the communication channel operators also limit the feedback that they receive from consumers. Thus, communication plays a vital role in advertising and planning marketing strategies for products and services. Brands request communication channel operators like e-commerce advertising agencies to reach the consumers' eyeballs. While doing so, the channel operators levy hefty fees to brands, resulting in inadequate and poor marketing standards.
Moreover, many brands operate under 'fog of the war' conditions. The 'fog of the war' condition is where brands function under the pressure and chaos of other brands' marketing. Hence, working under the 'fog of the war' condition leads brands to become invisible in the market. Therefore, to address the problems related to communication, the Wabi ecosystem aims to enable a direct 2-way communication channel between brands and consumers. The introduction of a 2-way communication channel seeks to help in eliminating informational uncertainty between the two parties. Besides, the channel also seeks to increase the industry's operational efficiency, which directly benefits both brands and consumers.
WABI is the ticker name for the Wabi ecosystem. The WABI token is an Ethereum-based ERC-20 token with a maximum supply of 100M. ERC-20 standards define how the tokens are transferred between the traders and how traders can access data. Moreover, the WABI token works on the Ethereum blockchain, seeking to enable users for seamless interaction with exchange and give traders options for storage of other tokens. Ethereum blockchain is a decentralized network that allows developers to build and run various applications using smart contracts. Besides, the token can be used by both consumers and businesses for trading.
History of Wabi (WABI)
In 2013, Alex Busarov and Yaz Belinskiy launched the WABI company. Since its launch, the Wabi ecosystem has fueled the underlying Taeltech ecosystem. Taeltech ecosystem aims to get firsthand data, process it, and use it for marketing purposes. Besides this, the Wabi ecosystem was upgraded on July 31, 2020, with features like scanning tools, user interface, survey tools, marketplace, and authentic information for seeking to maintain cooperation between users and brands.
