Bazaars

About Bazaars

Bazaars provides a decentralized peer-to-peer (P2P) marketplace that operates on blockchain technology, enabling users to exchange both physical and digital assets. The company, officially Bazaars Limited, is based in the British Virgin Islands and aims to bridge traditional commerce with the decentralized economy. The platform was founded by an individual known as Cryptomoe, who envisioned a marketplace where physical and digital items could be exchanged concurrently using cryptocurrency.

The core of the Bazaars ecosystem is its mobile application, which allows users to list items for sale in exchange for various cryptocurrencies. The marketplace is designed to handle high-value goods such as vehicles and property, alongside other products. Sellers can list their products for free after completing a verification process. The platform emphasizes user privacy and security, stating it does not collect or store sensitive data beyond what is necessary for app store compliance and transactions. To enhance transaction security, Bazaars utilizes smart contracts for escrow services, holding payments until the buyer confirms receipt of the goods.

The business model incorporates its native ERC20 token, BZR, which operates on the Ethereum blockchain. The BZR token was deployed on April 18, 2022. It serves as the primary medium for transactions on the platform. A key aspect of the model is a transaction fee-sharing mechanism; BZR token holders are entitled to receive a percentage of the profits generated from marketplace transactions, initially distributed through airdrops. The company also features an affiliate program, where users can earn a 2% commission on the total purchase value from referred customers.