In July 2017, the ICO market experienced the most rapid growth with blockchain projects raising more than $540m.
In order to better understand the trend, $1.38 billion out of the total $1.67 billion in ICO funding was raised in 2017, which represents an over 600% growth year-over-year. But, as we all can imagine, ICO investing brings a certain risk. For expample, crowd-sales could have neither a sound business nor a working prototype behind them.
Nonetheless, the ICO market represents a big opportunity to be the part of next tech-revolution for both investors and startups.
Given the high number of ICOs running at the same time, it becomes extremely difficult for an average individual to navigate through them and comprehend that ICO is a means to advance the project, not the final goal of the team. To this end, investors should take taken into some factors in order to understand the potential and the risk of and finally decide to back a project.
Among the particular factors to take into consideration for ICOs, remember that:
– build a blockchain based product is the goal of the crowdsale;
– the technical side of the project is critical;
– the product in development should have a sound, in-demand business model whose value keeps on growing when decentralization and/or tokenization takes place;
– the experience says that the best ICOs are those in which users are shareholders or where their actions contribute to network or business value growth., e.g., a model where token-holders can be direct participants of the project network;
– in a crowdfunding campaign, the Ethereum platform grants the stability of the system and minimizes the risks of losing the investment.
A market still in its infancy stage requires a reliable service where an interested individual can get peer-to-peer feedback on ICOs. By leveraging blockchain technology, Revain has created a platform that allows users to review ICOs at the same time , discuss about successful projects, have a look at other users experience and evaluate an investment risk. It leverages a beneficial exchange system which, while reviewing other companies, users are getting reviews about their own products. To keep track of the exchange, Revain has created a currency unit called RVN-token . It also offers an option to sell the right to get reviews to another user. A second token type – R-token – made on the Etherium platform using a classic ERC20 mechanism – will be used to accumulate funds during the crowdsale as well as the currency for exchange trade later on. The R-token is not bound to a special wallet, which means it can be easily distributed or sent to the stock exchange or disposed of in any other way.
Revain is now partnering up with ICOrating.com to allow users get a legitimate outlook of risks involved into investment taking into account such factors as:
– the startup’s business model,
– the market segment,
– the team,
– the competition,
– the technical background, and
– community reviews,
Starting up with ICO related reviews, the platform can leverage its universal mechanism to disrupt the review market adding new categories such as cryptocurrency exchanges, trading platforms, e-commerce, booking and gaming markets, etc.
The public alpha of the platform will be launched in September 2017.
The company itself is running a crowdsale to secure funds for research and development and to cover platform-related costs.
FinSMEs
23/08/2017
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