TomTom Coin (TOMS): Bringing Blockchain Technology to Coffee

Interested in staying up to date on all the latest cryptocurrency news? TomTom Coin is an up-and-coming crypto project that promises to bring blockchain technology to the food industry. In this article, we’ll look at how TomTom works, and take a closer look at this exciting crypto project to see whether or not it’s a good idea to buy it.

Key Takeaways:

• TomTom Coin is a cryptocurrency token created by Tom N Toms, the popular South Korean coffee company.
• The token can be used as a payment method for orders, to collect customer rewards and purchase items in the Tom N Toms app.
• Looking to trade TOMS tokens? Bybit now offers the TOMS/USDT Spot trading pair.

What Is TomTom Coin?

What Is Tom N Toms?

To understand the purpose of TomTom Coin, let’s first learn about the company backing the TomTom token. Tom N Toms Coffee, a South Korean coffee chain founded in 2001, is a popular coffee shop with over 500 locations in nine countries that serves coffee, tea, smoothies, pretzels and other baked goods.

History of TomTom Coin

TomTom Coin was created as part of a move to increase international recognition of the Tom N Toms brand. The company, already the third most popular coffee shop in South Korea, has hopes to expand further. In order to position itself as an exciting, modern company, Tom N Toms made the decision to invest heavily in the technological side of store operations and their business.

In early 2021, Tom N Toms created an app that can be used to find store locations and place orders. To further streamline the order process, TomTom Coin was also created. Also known as TOMS, this cryptocurrency allows customers to buy food and collect rewards without needing to connect credit cards and bank accounts to the app. 

TomTom Coin is also used as a form of marketing for the company. Since it’s become a publicly traded cryptocurrency, more and more people outside of South Korea have become aware of Tom N Toms..

What Does TomTom Coin Aim to Achieve?

TomTom Coin aims to combine blockchain technology with food and marketing. Unlike some other crypto companies, Tom N Toms’ main goal is practical instead of theoretical. The TomTom token itself is fairly straightforward, but it has a lot of real-world applications missing from other blockchain products. At first, TomTom Coin was just a way for customers to order food and beverages more conveniently.

Over time, the company has evolved the purpose of TomTom Coin to include many other aspects. After partnering with Kana Labs, Tom N Toms Coffee started exploring more innovative ways to incorporate crypto into their company. They hope that TomTom Coin can help to increase transparency and create more secure data storage for customers. There are also plans to create unique advertising campaigns that use TomTom Coin as an incentive to order from Tom N Toms Coffee.

How Does TomTom Coin Work?

Tom N Toms Coffee hasn’t shared a lot of details about how its blockchain works, beyond the fact that it's an ERC-20 token built on Ethereum. As a proprietary cryptocurrency ecosystem, they haven’t divulged information such as token generation or inflation prevention. However, they have shared some information on how the TomTom Coin ecosystem works.

This blockchain protocol consists of two halves, one online and one offline. Through the offline ecosystem, TomTom Coin can be used to pay for food and beverages. Even in locations without WiFi, the offline mechanics allow customers to seamlessly use the company’s app to make purchases. Meanwhile, the online half of the ecosystem handles the marketing activities and investment side of the coin. Through the online TOMS ecosystem, customers can participate in marketing campaigns and web3 programs as well as purchase artists' art pieces.

Features of TomTom Coin

TomTom Coin is part of an entire ecosystem chain that contains multiple features. Holders of this crypto can use it for all sorts of applications inspired by other major blockchains.

NFT Marketplace

Tom N Toms Coffee uses its blockchain to mint a variety of NFTs. Via the NFT marketplace, customers can browse NFTs and purchase them. You can also place NFTs you own back on the marketplace to resell them to others. This creates a robust marketplace economy where users can invest in all sorts of exciting NFTs.

TOMS NFT

The TOMS NFT program converts a variety of Tom N Toms' brand assets into NFTs. The ecosystem has different grades of NFTs that come with different levels of rarity. Some NFTs are released as fine art, and are rare and valuable. Others are characters, digital identities and other more common NFTs built for the metaverse that typically only have personal value for individual users.

Gallery TOM

Gallery TOMs are a type of NFT found within the company’s NFT marketplace. These are limited-quantity NFTs that have certain conditions associated with owning and purchasing them. Some Gallery TOMs generate rewards for users who own them for certain periods of time. The intention is to treat Gallery TOMs as artworks that are purchased for their quality and collectibility.

TOM N TOMS Metaverse

As part of their move to take TomTom Coin into the web3 era, Tom N Toms has also launched a metaverse component, implementing games within their ecosystem. Within the TomTom metaverse, users can create characters and explore imaginary environments. Tom N Toms has already released various AR/VR content, such as camera filters, built for the metaverse. In this virtual world, people can play games, interact with other Tom N Toms customers and take part in various events.

MyTOM

MyTOM offers a convenient interface for people who enjoy shopping at Tom N Toms. It allows customers to add TomTom Coin to their accounts and place orders. Ultimately, it functions as both an online ordering app and a wallet for TOMS tokens.

Online/Mobile Purchase

The online Tom N Toms platform provides an alternative to those who don't have the MyTOM app, allowing you to order food and beverages from the store. People can place an order for pickup and, in certain locations, schedule a delivery as well. The online platform also sells a variety of Tom N Toms products including gift cards, instant coffee and merchandise.

Rewards and Benefits

The MyTOM app helps users keep track of their rewards. Customers can receive various perks associated with parameters such as how long they hold TOMS tokens, or how often they purchase at the shop. The reward and benefit program mostly provides discounted purchases, coupons and the occasional free menu item.

Offline Payment System

Most crypto payment systems are hampered by the fact that they require an internet connection to function. The TomTom Coin ecosystem offers an offline payment system that solves this problem. TomTom contracts can be accepted directly by the store, so if you're in a location with poor service, you can still purchase food and beverages with ease.

TomTom Coin Road Map

Since first releasing TOMS tokens, the TomTom ecosystem has undergone a lot of changes. The company's road map began with a TomTom contracts system to let their customers pay with TOMS. They then moved on to releasing the TomTom metaverse, creating content, launching an NFT collection and listing TOMS on several cryptocurrency exchanges.

For 2023, the TomTom road map mostly consists of expanding branding applications and generating profits. Tom N Toms plans on finding new ways to use the company’s trademarks in order to promote the brand via their web3 system. In addition, there are plans to expand their crypto to new markets and to develop more NFTs.

TOMS Tokenomics

Tom N Toms uses TOMS tokens for everything from buying coffee to distributing rewards. It has a total supply of 5 billion TOMS tokens and a fully diluted valuation of $9.6 million.

TOMS tokens are distributed in the following manner:

• 20% sold publicly and privately to generate operational funds
• 20% used to convert existing reward points or for token payment
• 20% distributed as team salaries and incentives
• 10% used for marketing
• 10% placed in a payment pool for customers to purchase TOMS tokens directly from MyTOM
• 10% used for further rewards
• 10% held in reserve as a safety measure

TOMS Price Prediction

As of Jul 31, 2023, the current price of the TOMS tokens is $0.00192970. This is a 97.47% decline from the coin's ATH price of $0.076065. However, it's still significantly higher than the price it was selling for in May 2023. 

Most crypto analyst sites predict that TOMS’ price will experience positive growth in the following years. For example, PricePrediction forecasts that the price of TOMS could reach $0.003 at the end of 2023, $0.006 in 2025, $0.012 in 2027 and $0.039 in 2030. 

Although the token’s price recently experienced declines, it could increase in the long run if Tom N Toms is able to capitalize on this project and expand their brand. The coin may have the potential to reach $0.039 by around 2030, but it's unlikely to reach its ATH again anytime soon.

Where to Buy TOMS

Tom N Toms has released TOMS on several major cryptocurrency exchanges, including Bybit. If you’re looking to trade TOMS tokens, you can get started by first signing up for a Bybit account and funding it with cryptocurrency before navigating to the TOMS/USDT Spot trading page. However, keep in mind that this token is only available to trade on Bybit in the South Korea and India regions right now. 

Is TOMS a Good Investment?

TOMS is certainly an exciting project. Few other food companies are so enthusiastically getting involved in the crypto space, so the Tom N Toms ecosystem is certainly unique — and when the coins were first released, this novelty was enough to send prices skyrocketing. 

The TomTom Coin is more than just a cryptocurrency token; it's a symbol of the brand's commitment to embracing digital transformation and staying ahead of the curve. By integrating blockchain technology into their business model, Tom N Toms has demonstrated a forward-thinking approach that aligns with the evolving needs and preferences of their customers.

Moreover, the introduction of the TomTom Coin has added a new dimension to the customer experience at Tom N Toms. It has made transactions more seamless and efficient, while also offering customers the opportunity to engage with the brand in a more interactive and rewarding way.

This token is certainly something to look out for, and an investment in TOMS might help to diversify your portfolio, but definitely do your own research before putting a significant portion of your funds into the project.

Closing Thoughts

Tom N Toms has created an innovative crypto ecosystem that allows people to use blockchain technology at their local coffee shop. This groundbreaking initiative, embodied in the TomTom Coin, has not only revolutionized the way customers interact with the brand, but it has also set a precedent for other businesses to follow. The creation of the TomTom Coin is a testament to Tom N Toms' innovative spirit and its dedication to providing exceptional service to its customers. It's a bold step toward the future of retail and a shining example of how businesses can leverage technology to enhance their operations and customer engagement. As we move forward, it will be interesting to see how this initiative evolves and continues to shape the landscape of the coffee industry and beyond.

#Bybit #TheCryptoArk