coreto giving good news to infestors
efforts to create the ability to do more complicated financial transactions on the Blockchain and were the first projects to carry out ICO. They did it and started selling Mastercoin for Bitcoin, thus creating what is now known as ICO. They collected $ 500K USD. Mastercoin has appreciated in value for making an initial investment of $ 5.5 million USD, proving the validity of the investment model and paving the way for further ICO. In 2014 we had Ethereum. 2015-2016 is the first peak. At the end of 2016, more than $ 300 million dollars were collected by ICO.
will start by saying that some of the biggest ICOs of 2017 launched their products this year. Filecoin - $ 257 Million USD, Tezos - $ 236 Million USD, EOS - $ 4.2 Billion USD, Bancor, etc. What's good about this? In addition, a large number of people have made a lot of money through ICO. ICO's general amount of information, technology, services and feasibility has been a very positive change in crowdfunding this year. In fact, ICO plays an important role in crowdfunding so that around 30% of all funding this year at the Seed stage comes from ICO.
Many companies that promise with a good initial round struggle to collect A and B series purely based on the perspective of investors even if their network effects are strong enough and they have the opportunity to be profitable. This created a large number of companies that had collected seed money but struggled to continue to grow in their markets due to a lack of trust and funding from institutional investors. We encourage anyone who intends to invest in such a startup, to take a moment and find a reliable review platform for blockchain projects before entering.
maybe 2017 is a very important year for this crypto-based technology business, but it's also a year where everything starts to fail. Expensive Transaction Fees, Slow Transactions, lots of attacks and hacking. Along with Blockchain's growth, fewer people can mine, so more of the total pool is controlled by several mining pool owners. If someone is cheated or hacked, the money is lost because Blockchain technology is recognized by its inverse. The ugly (but interesting at the same time) part of this fact is that, without questions, blockchain is available to everyone. The ICO room is full of people who are looking for dangerous attacks on others, but we will discuss this in the next article.
By 2018 everything starts to be scary. Only from reading some analytical data, according to Icodata, in December 2017 the total US dollar cap increased to close to $ 2 billion. The number of successful ICOs is more than 200. In September 2018 the industry barely managed to raise $ 200 million with more than 300 registered ICOs. More precisely, in March, everything stopped. A few months ago a very basic typical shelf company with 20 team members, a shady whitepaper, and no product that could generate millions of dollars. Today, hardcore companies, with existing products, have difficulty increasing even tens of thousands of dollars. Most of them are at zero flat.
If a company, entity, or anyone wants to get $ 100 million through an investment channel, you will expect months of due diligence on teams, use of funds, technology and intellectual property. Kickstarter, for example, has projects that require at least video and timelines for their goals to be accepted into the platform. Currently, startups looking for ICO are writing whitepapers, which are about 20-30 pages of documents that describe the use of tokens. At present there is little or no audit by a set of experienced investors who can prove the validity of these documents. This means that currently there are people who make tens of millions of dollars by writing essays and making appointments, very similar to large-scale trust scams.
Many ICOs pay little money to many small YouTube users, Twitter, Instagram influencers to promote their intentions. In the end, people who trust influencers will invest, ICO fraudsters will have little money to lose and they will get rich. Influenza crypto has a lot of strength in the community, if big influencers cover the ICO project positively, the project will soon begin to gain interest in the ICO community.
ICO is wrong or enters a bad trade, but it is also easy to invest well and make a profit. As an investor, you don't want to be trapped in an ICO that can't be trusted with an unreliable audience, whitepaper, marketing strategy. Although these fraud cases are very common, the principle of fundraising remains good and using ICO is a good solution. All you need is to know how and why you should trust certain reviews of a particular project (whether it's ICO or reviews of existing coins).
That's one of the things we will do here at Coreto. We are a reputable and tokenized social platform that will disrupt the way blockchain projects are reviewed, using cumulative knowledge from experienced investors and influencers mixed with machine learning algorithms and a pinch of predictions.
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