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ICO Analysis: Havven

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Cryptocurrency market volatility is nothing new to crypto investors. There have been several projects creating asset-backed coins including those secured with diamonds, real estate, and USD to provide investors a sense of stability. Havven looks to add a layer of stability to their project through a dual token system they say will include a crypto asset-backed currency.

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Havven describes itself as “a decentralized payment network designed to enable everyday cryptocurrency purchases.”

The company goes on to add:

“The network utilizes a dual token system to reduce price volatility. The fees from transactions within the system are used to collateralize the network. The collateral is secured by the blockchain enabling the creation of a new asset-backed stablecoin, Nomin tokens. Each transaction will generate fees that are paid to havven token holders. As transaction volume grows, the value of the platform increases and active participants are rewarded with increased transaction fees. This permissionless, low-fee and stable payment network will enable anyone anywhere to transact with anyone else.”

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Token

The Havven token (HAVVEN) will be issued on Ethereum as an ERC-20 token. However, the ecosystem is built with two tokens, Havvens and Nomins. Havvens act as the collateralization mechanism for Nomins which are used for transactions in the ecosystem. The token sale will establish the value of the Havven pool. Once determined, this value dictates the maximum supply of circulating Nomins. Fees are generated every time Nomins move between wallets. These fees are paid to all Havven token holders who have issued Nomins and are collateralized; the company states that fees in the network will be about 20 basis points. To establish the initial network parameter, the organization will seed the system with ether backed Nomins from the proceeds of the crowd sale. The ETH-Nomins will be directly redeemable for ether.

A total of 60% of the tokens will be emitted in the token sale. The primary use of funds listed is for network development and to incentivize market adoption of the payment network. The organization is requiring a two-year lockup of team member tokens and 12 months on advisErs.

The company has a fundraising goal of $30 million with the each Havven equal to $0.05 USD. The token sale will begin on February 28 and the whitelist is open starting February 21.

Team

The core team boast strong development experiences and well as deploying systems for cryptocurrency purchases in Australia. CEO Kain Warwick is also Co-Founder and CEO of blueshyft, an organization that allows customers to load funds into digital wallets or purchase digital goods through an iPad based retail location. I wonder which company he will be CEO of post-ICO? Not everyone can be Jack Dorsey and run two organizations at once yet so many try and fail by spreading themselves to thin. CTO Justin Moses also serves a Director of Engineering at MongoDB, a distributed database organization to help organizations be flexible and scalable. The rest of the company’s team is a mix of developers, marketing, and project managers. However, hold jobs at other companies just like the company’s top founders.

Verdict

Havven represents a speculative opportunity for investors. The network is boasting a stablecoin with crypto backend assets, but those assets will be generated from the token sale. The team lacks full commitment to the project currently, and we are not sure if that will change post-ICO. There is no mention of how the marketplace will adopt this network, there is no revenue roadmap or financials listed for the organization. A positive is a lock-up period for the core team and advisers protecting the company pool from a pump and dump scenario, but there is still a lot of uncertainty for any market demand for the product or any target customer segment listed.

Risks

  • The use of funds section listed in the token sale paper is very vague, and doesn’t provide how much will be allocated to development, R&D, marketing, etc . -2
  • Successful startups make it through barriers and hurdles when the founders are “all in,” meaning they bootstrap to hit milestones and funding simply helps them along the way. It is a red flag that the team is not solely tied to the success of this organization. Additionally, 20% of total token distribution towards the team is relatively high since they are not solely committed. -1.5
  • There is no mention of marketing activities for program adoption; there is no mention if financial targets or listing of any company financials.  -1.5

Growth Opportunity

  • Market volatility is a major concern of sideline investors in the crypto space. If the play for Havven is to promote itself as a stablecoin alternative to existing market volatility it could move some retail investors off of the sidelines who invest in more traditional markets. +3.5
  • The organization boasts a deep bench of advisers coming from both the crypto and traditional business space; how those relationships will be leveraged post-ICO is not listed but the strength of the team provides partnership opportunities. +4
  • The traditional payments market is in the trillions and the crypto market cap as we know has seen major increases over the last year. It is unclear if Havven is looking to implement in only one or both of these markets but the market is large enough to carve out a niche. +2.5

Disposition

Because of the lack of business milestones listed or mentioned on the website and whitepaper it is still unclear how Havven will be adopted. The company has a platform launch date for March 2018 but it is unclear who will use the platform outside of those who participate in the ICO.  Although Havven seems to be still figuring out their target market, if they can actually produce s stablecoin ecosystem this can have positive effects across the broader market.  

We believe that a score of 5 out of 10 is warranted.

Investment Details:

  • Type: Utility
  • Symbol: HAVVEN
  • Whitelist: Feb. 21, 2018
  • Public Sale: Feb. 28, 2018
  • Price: 1 HAVVEN = $0.50 U.S.
  • Hard Cap: $30 million
  • Jurisdictions Barred from Participating: China
  • Payments Accepted: ETH, BTC

Featured image courtesy of Shutterstock. 

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ICO

ICO Analysis: MYDFS

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MyDFS is a blockchain-based daily fantasy sports solution that connects sports fans around the world with a transparent, easy-to-use, investor-friendly platform. A fantasy sport is a type of online game where participants assemble imaginary or virtual teams of real players of a professional sport. These teams compete based on the statistical performance of those players’ players in actual games.

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Select platforms like Fanduel and Draftkings monopolize the North American market. MyDFS has identified some significant challenges that the industry faces and aims to bring improvements using blockchain smart contracts and cryptocurrencies.

Some of the issues faced by the industry and the solutions proposed by MyDFS is as follows:

  • Legal ambiguity: Fantasy sports platforms operate under a legal loophole, where they get classified as a game of skill rather than betting. This allows fantasy sports platforms to operate in certain jurisdictions while getting banned in some. MyDFS is based on a token-based model and completely excludes fiat money, thus working around the regulations.
  • Application interface: Most of the fantasy sports apps have a complex UI which acts as a barrier for new users. MyDFS’s team has made special efforts to bring in ease of use in the user experience.
  • Verification: Players on the most popular gaming platforms have to go through complicated verification procedures almost every time they want to deposit money to play. MyDFS allows ease of verification while enabling users from all geographies to participate.
  • Payments: The use of cryptocurrencies make payments seamless and instant.
  • Transparency: The use of blockchain smart contracts bring in complete transparency while removing concerns around manipulations and insider trading.

An alpha version of the application with basic game functionality is available for testing. The MyDFS application would be fully functional as early as June 2018.

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Team

In 2016, CEO Viktor Mangazeev founded uTrener.com (utrener.com), a daily mobile fantasy sports platform that launched in Russia. They also have a white label application which has been gaining traction. Having a white label app that is used to create fantasy sports applications shows the team’s expertise in this segment. There are 12 members of the team, all of them work full time on MyDFS.

They have six advisers, which includes tech and crypto entrepreneurs and also one football player.

Token

The Ethereum based MyDFS tokens will power the platform. The tokens will be used for game entry fees, reward distribution, advanced functions like p2p duels/access to leaderboards, in-game purchases, and sponsor integrations.

The tokens have a good utility across the platform and, as the adoption grows, the demand for tokens will increase. Users interact with fantasy sports applications on a daily basis which will keep the demand consistent.

The token distribution is as follows:

  • ICO Distribution: 40%
  • Growth and user adoption reserves: 37%
  • Team: 10%
  • Advisers and early contributors: 10%
  • Bounty: 3%

Verdict

Fantasy sports was built out of a loophole in the law that normally bans such betting. It’s a growing industry, estimated to be worth more than $7 billion a year in the U.S. and Canada. MyDFS’s team has industry relevant experience which will help its cause in platform building and subsequent promotion.

Blockchain technology finds a perfect use case in fantasy sports. Transparency and ease of payments is the most significant advantage in my opinion. Users located in different corners of the world can participate and earn from NBA matches, which is not possible without using the blockchain.

A major area of concern is whether MyDFS will be able to gain market share in the key market of North America. Incumbents Fanduel and Draftkings are the undisputed leaders in the sector with a combined market share of 90% and have made it impossible for newer platforms to gain any share. It would be interesting to see whether the dual advantages of transparency and ease of payments are solid enough to enable a shift.

Growth Potential

  • One of the most tempting factors about MyDFS is that the platform will be fully functional by June 2018, before the FIFA World Cup. Very few projects have functional products immediately after the launch. Majority of the funds raised in the ICO will be used for marketing and promotional activities; the team doesn’t need as many funds for product development. +5
  • The team looks solid and already has a functional product serving the same use case without blockchain. +4
  • MyDFS opens a completely new market opportunity as it removes jurisdictional constraints using tokens and blockchain. Users located all over the world can participate and earn in any fantasy sports using MyDFS. +3

Risks

  • Competition is the biggest risk that MyDFS faces. Fanduel and Draftkings have raised a combined sum of more than $1 billion and have established a duopoly in the market. Other blockchain based projects like DraftDaily, Protoblock are vying to gain a share. -2
  • MyDFS is raising $40 million for 40% of the token supply, which makes the valuation based on total supply a bit steep for a company with no users. We are not sure whether MyDFS will achieve its targets. -2
  • Fantasy sports is a relatively new industry with just $7 Billion of total valuation. -1
  • Fantasy sports industry has primarily matured in North America and the U.K. However, US citizens are not allowed to participate in the ICO, thus losing an opportunity to distribute tokens amongst the primary audience. -1

Disposition

We arrive at a score of +6 out of 10 for MyDFS. Although there are short-term concerns about the ability to reach its hard cap, MyDFS is a good project from a long-term investment perspective.

ICO Details

  • Token Type: Utility
  • Platform: Ethereum
  • Symbol: MyDFS
  • Pre-Sale: April 16, 2018 – May 6, 2018
  • Public Sale: May 21, 2018 – Jun 12, 2018
  • Pre Sale Bonus: 25%
  • Hard Cap: $40 Million
  • Jurisdictions Barred from Participating: USA, Singapore, China
  • Website: here
  • Whitepaperhere

Disclaimer: The writer has no position in MyDFS at the time of writing.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 16 rated postsAakash Kawale is a financial analyst based out of Mumbai, India. He is the lead analyst at a Singapore based organization and has extensive experience of analyzing US and Indian equities. Aakash is a strong advocate of the Blockchain technology and has been analyzing cryptocurrencies since 2015.




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ICO

ICO Analysis: FIC Network

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FIC Network is a blockchain-based fixed income securities model that reduces costs, operational friction, and risks while improving auditing ability and transparency for the industry. It will allow users to list, buy, and sell any type of crypto or fiat fixed income financial instrument including loans, bonds, collateralized loan obligations, loan syndication, credit default swaps and futures. FIC Network will also allow companies to raise funding by issuing bonds denominated in crypto or fiat.

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The FIC Network seeks to improve upon the existing traditional systems by boosting transparency, speed, asset liquidity and security, as well as reducing costs, operational friction and risks. The FIC network will cover every financial instrument in the fixed income space, starting with consumer and business loans, followed by bonds, structured products and other financial instruments. FIC Network will accommodate any type of currency, including cryptocurrencies, and financial instrument.The technology is scalable to the global fixed income and debt markets, which exceed $230 trillion USD.

Token

The eFIC token is an ERC20 utility token that will be used to trade, list, and hold financial instruments on the platform. eFIC will also prevent network spam and denial of service attacks. eFIC tokens will later be converted to FIC tokens after the launch of their production-level FIC blockchain later in 2018.

The presale is currently ongoing through May 7, 2018, including a 30% bonus with a minimum investment of 10 ETH. The crowdsale starts May 7, 2018, and runs through May 15, 2018. The hard cap is $16 million USD with 316,500,000 eFIC tokens available for purchase at a price of $0.10 USD per token. All unsold eFIC tokens and unclaimed bonuses will be burned after completion of the public sale. FIC Network has partnered with Civic to be their KYC provider for the token sale.

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The token distribution is as follows:

  • 50% Token Sale 316,500,000 eFIC
  • 30% Reserves (locked) 160,000,000 eFIC
  • 20% Team (locked) 156,500,000 eFIC

Team

The FIC Network team consist of experienced executives, blockchain developers and experts in startups, marketing and investments. Their website lists a core team of nine members and eight advisers. Arturs Ivanovs is Founder & CEO of FIC Network as well as an adviser to Turing Funds, the first mainstream exchange-traded fund of cryptocurrencies. Aigars Staks is Co-founder & Senior FIC Network Architecture Adviser who brings valuable experience from working with companies such as Microsoft and PwC.

Advises include Matiss Ansviesulis, who is the Founder and CEO of Creamfinance, which according to Inc. magazine, was the fastest-growing fintech company in 2016. Jon Chou is the Co-founder & CEO of Bee Token as well as an advisor to Solve.Care.

Verdict

Combining the crypto and fiat fixed income market will help make the future crypto market mainstream and sustainable. Existing crypto tokens are operating as currencies or utilities without a fixed-income offering. A crypto and fiat fixed income market can sustainably drive the crypto market into mainstream usage better than the conventionally fixed income market. FIC’s blockchain-based platform will allow users to list, buy and sell any type of crypto or fiat fixed financial instruments avoiding the drawbacks of conventionally fixed income markets such as friction, lack of liquidity, lack of interoperability, asymmetry of information and operational risks. A multi-currency asset agnostic system with a built-in exchange allows users to operate in currencies of their preference, thus eliminating exposure to exchange rate risk and simplifies accounting.

Risks

  • The FIC Network and app aren’t scheduled to be launched until Q4 2018. While Q4 isn’t too far in the future, many ICOs have over-promised and under-delivered when it comes to their roadmap progress after ICO completion. -1
  • As with many ICOs, the majority of the team has outside obligations which result in time being spent elsewhere and not 100% focused on the success of the project. -1
  • Regulations for cryptocurrencies are still undetermined and the outcome on how they will affect ICOs’ dealing with securities, such as FIC Network, is unknown. –1

Growth Potential

  • FIC Network has an MVP – distributed app (dApp) eDepository, which has already been developed and deployed on their Test Network. It allows publishing and managing assets on the blockchain network. +3
  • The team has the right mixture of talent and experience to bring this project to fruition as well as multiple advisers and venture capital backing. +3
  • Token metrics are an extremely important aspect that investors research to determine if an ICO is worthy of investment. A fairly low hard cap of $16 million USD, 50% of tokens being sold during the token sale, and a fixed supply are considered positives. +3

Disposition

With the uncertainty of this market, some investors may choose to remain on the sidelines. However, with the profit potential in this incredibly large market, those that take the plunge could end up with excellent returns if all goes according to plan. FIC Network receives a rating of 6 out of 10.

Investment Details

  • Symbol: eFIC
  • Platform: Ethereum
  • Presale: Current – May 7, 2018 (30% Bonus, min investment 10 ETH)
  • Crowdsale Date: May 7, 2018 – May 15, 2018
  • Hard Cap: $16M USD
  • Token Price: $0.10 USD
  • Tokens for Sale: 316,500,000 eFIC
  • Payments Accepted: ETH

For more information regarding FIC Network:

Website: ficnetwork.com
Telegram: t.me/ficnetwork
Twitter: twitter.com/ficnetwork
Facebook: facebook.com/ficnetwork
Medium: medium.com/fic-network
Reddit: reddit.com/r/FIC_Network_Official/
YouTube: youtube.com/channel/UCm8N9-wdiM8RQ0XRLev7_gw

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 29 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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ICO Analysis: Arcona

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A Skolkovo-powered Russian start-up set the pace with Augmented Reality apps by developing the so-called “Augmented Reality Time Machine”.

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In 2014, Pilgrim XXI made its debut to disrupt the Russian tourist industry for good. This augmented reality app is an open source ecosystem, where contributors can re-create historical events on three-dimensional landscapes in a digital fashion.

The company aims to create a global network of outdoor AR parks, offering tourists an amazing experience. combining their real trip with the concept of time travel.

While Pilgrim XXI is already one of the most exciting tech projects of our era, the company didn’t stop here, as a combined effort supported by Microsoft, Intel, Google, Skolkovo Foundation and Booking.com brings us Arcona.

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Arcona is Pilgrim XXI’s second move and can be taken as an attempt to join the blockchain revolution, while at the same time trying to expand their network and digital presence.

The Skolkovo start-up created an open source ecosystem, where contributors can create, buy, rent or lease digital geo-locations, or Digital Land, Arcona’s main asset, in order to incorporate AR in every sector of the physical world’s business.

From a corporate point of view, Arcona creates a new layer of Augmented Reality as space. There is minimal space left on billboards and physical reality, in general, while there is an infinite amount of ads that could fit into the digital version of what we refer to as reality.

For a user, Arcona brings Augmented Reality closer to “normal” since currently, there is not one single universal tool for interacting with Augmented Reality. Arcona gives users the ability to add, edit and offer software and assets that can be traded and used by others within the ecosystem.

Creating an indoor AR can be easy nowadays, but setting an outdoor scene of several hectares can be challenging, as the developer must travel to the location, and consume time, money and effort. With Arcona, you can access any geo-location remotely as it visually combines virtual and physical space powered by developers and consumers.

Arcona wants to upscale the concept behind AR on a global scale. Currently, we have more than ten AR systems and each of them supports a single specific hand-held device such as an iPhone, or specific VR glasses etc. Arcona wants to create a cross-platform experience through their ecosystem where more people could access and use AR from anywhere, anytime.

Pilgrim XXI uses blockchain technology to ensure and identify users and land ownership, transfer and marketization.

An operational example of the platform would look like this:

  • An outdoor AR park is designed and built by Arcona and their community workers.
  • Contributors get paid in Arcona tokens according to their contribution level.
  • The park is open for public, and tourists can visit the AR park to experience a time travel paradox, watching historical events about the area, or conceptual events to come on the area.
  • Professional advertisers will expand their market into AR spaces to entertain AR visitors/users in every corner of the world. Users get paid for watching AR ads in Arcona tokens.

Token

Arcona’s ecosystem and economy are relying on their native utility token. This ERC-20 token is necessary for the ecosystem to function properly and being able to establish smart contracts between developers, clients, brokers and consumers within the ecosystem.

The token is also the main currency which is used to purchase or sell Digital Land, and/or other software or digital assets within the Arcona ecosystem.

Arcona token holders will have the right to contribute to the formation of the ecosystem by developing software blocks and visual AR content, as well as by testing the system.

The total token supply is set at 135,000,000 Arcona. The hard cap for the ICO is set at $25 million dollars, while the starting price per Arcona is set at 0.0025 ETH.

60% of the total tokens will be released during the ICO sales. 31% is reserved for Arcona, of which 20% goes to the team, and 11% is reserved as the development fund. Additionally, advisors get the 7% and 2% will be distributed to bounty participants.

Team

Ilia Korguzalov, CEO & Founder, has nine years of experience in the laboratory of the Peter the Great Museum in Saint Petersburg, restoring arts and an additional 15 years experience in business development.

Diana Sorina, CEO/CMO & Founder, has over 12 years of experience in different forms of digital and physical marketing.

Dr. Igor Rozhdestvensky, CSO & Founder, has Ph.D. in theoretical and mathematical physics and IT, and  a 20-year track record in entrepreneurship.

Tatiana Chernih, Founder, has over a decade worth of experience in journalism and PR.

Daniel Girdea, Founder, has more than six years of experience in the construction and real estate.

In the team of advisers we can find Lyubov Simonova, an angel investor on various technological projects on the internet, George Popescu who has several high positions on numerous online platforms and marketplaces, James Haft, who is adviser or co-founder of global ICOs and token offerings, Kairat Kaliyev, founder of Cross Coin currently focusing on project development, Sergei Chmel, who established in almost 20 years several companies in different areas and Sergey Khitov, who will serve as mentor and blockchain expert.

The team looks solid overall, with people who have experience in creating Augmented Reality projects as well as marketing and business-focused solutions.

Verdict

This project of Augmented Reality is a futuristic concept that will enable us to experience different aspects of our everyday lives at any time, anywhere. It can group us with people, regardless of our distance, either from a business or an entertainment point of view.

It can also bring us closer to other people’s ideas. It is easier to understand one another when you can visually witness what the other wants to show you, than hearing about it. When you can create anything you imagine in 3D for others to see, the whole concept of conception shifts meaning.

Arcona wants to do the first step of reaching that level. With this project, 3D editors and animators will be able to create a library of every animation requested by people in Arcona. The more the library grows, the more people can express themselves through Augmented Reality.

Augmented Reality has its positives and negatives, such as every aspect of life, and while the positives are many, there are a few negatives that should be mentioned. One of them is the excessive addition of commercial messages inside the cyber world, to the point that it becomes annoying or even unhealthy for the user.

Another part that users should be careful is the addiction to Augmented Reality. It won’t be long before this technology is available in a variety of new devices, such as projectors on our sunglasses, for example. Users will be able to exist both in physical reality as well as inside a virtual lobby of digital content, and that can be either a gift or a curse.

Risks

From an investor’s perspective, the following facts are important to consider when weighing Arcona:

  • AR is a step ahead of VR, and VR is yet to be commercial. While we all enjoyed PokemonGo for a couple months, AR systems are still years behind in development and pragmatic real-life use-cases. -2,5
  • It may sound spooky, but being paid for watching virtual ads is really something we’re eventually going to face sooner or later. Creating tailored ads just for you to see in Augmented Reality can be almost unethical at the moment. -2
  • Many spatial locations have copyrighted content that you might not be able to pay for or even use in some cases. It might sound really interesting as a conceptual project, but in fact, it will be really difficult to convince governments to allow you to re-create 3D models of their societies and alter them on a digital level. Therefore we assume that in the beginning, there will be a preset amount of various locations to “play with”. -3

Growth Opportunity

  • On the other hand, having a decentralized multi-platform supporting Augmented Reality is definitely an aspect of the near future. Arcona is not one of the first, but the pioneer company behind this concept. +4
  • This Skolkovo-powered start-up is backed by Microsoft and Intel among other industrial titans, while it is also funded by the major ICO angel “Wings”. These companies wouldn’t risk their name for something that has no vision. +3,5
  • AR can help us recreate historical events, and in a sense cheat time on a small scale. A whole new wave of tourism is here, where you can explore places literally built from scratch just to please your visual sensors. Not to mention how this new space could benefit the marketing and advertising sectors. +2,5
  • 135,000,000 Arcona is a decent total cap for such a cheap token. 0.0025 ETH is currently equal to ~$1,60. Similar total supplies come from Binance and Nano, with their price per unit at $13,80 and $7,37 respectively. +3,5

Disposition

Although it can generate interesting growth when it enters the market, Arcona will need most of the initial capital raise in order to headstart with a few outdoor parks, meaning that the price will most likely sink as soon as it enters the commercial cryptocurrency market.

KYC (Know Your Customers) is mandatory for many, if not most, ICOs in order to secure the sales period by scammers and unwanted individuals. It is uncomfortable to know that a project so highly supported by various firms and governments is not using this simple security technique.

A score of 6 out of 10 is reserved for Arcona, based on present facts.

Investment Details

  • Type: Utility
  • Symbol: ARCONA
  • Platform: Ethereum
  • Pre-Sale: Apr. 15, 2018
  • Public Sale: May 16, 2018
  • Hard Cap: $25 million
  • Payments Accepted: ETH, BTC (No KYC)

Official Website

Whitepaper

Disclaimer: The writer has no position in Arcona at the time of writing.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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