The Artificial Intelligence Start-up TEAL will launch an IEO with the Crypto exchange ProBit. The Sale will take place in three rounds beginning September 23rd and provide a circulating supply of 4.5 million TEAL Token (TEAT) priced at $1.25/TEAT.
TEAL strives to raise funding for its first product: the TEAL Marketplace. This is a decentralized marketplace with social network functions, connecting consumers with the best recommendations and merchants with the most suitable customers through proprietary AI.
AI: Backbone of a new marketplace
TEAL initially identifies tangible needs from publicly available information for the respective TEAL user. Each user decides which personal information to share with the AI. From these unstructured and structured data, TEAL generates a unique DNA for each user and product, the so-called social genome. TEAL’s AI then matches the needs of consumers with the offerings of suppliers and brands based on their genomes via Smart Contracts. In a prototype, TEAL models the recommendations for several micro target audiences in metropoles like Berlin.
Blockchain infrastructure allows for trust
The marketplace will be based on blockchain infrastructure to assure full transparency and accountability within transactions while maintaining user privacy. The marketplace is expected to launch as DApp (decentralized app) in the first quarter of 2023. Part of this DApp is a visual or voice interface, the personal TEAL assistant.
Klaus Holthausen, co-founder and CEO: “TEAL was designed as a global marketplace from the start. With ProBit we have a partner who gives us access to a community that already has a lot of experience with cryptocurrencies and blockchain technology.”
- Circulating Supply: 4.5 Mio. TEAT in 3 rounds
- Launching price: 1.25$
- Minting rate: 3.0426
- Market making: Listing at ProBit
- Other Sales: 4.5 Mio. TEAT in 2023, total supply 9 Mio.