Life After ICO, Part 1: Follow-up on the ICOs We Reviewed
2018 is poised to become the crucial year for ICO. Startups that raised enormous funds last year will have to deliver on their promises, and some of them will inevitably fail to do so, making investors more wary and cautions in parting with their crypto and forcing startups to become more professional in organizing and launching their ICOs rather than simply going along with the hype. Over the past three or four months we reviewed quite a number of handpicked ICOs. With some of them successfully over, let’s take a look at what they are up to and what they are doing with their soft and hard caps.
Aeron – $5,796,336 raised
Aeron presented a (yet) rare case of a blockchain startup that was designed to solve real-world problems, rather than being a yet another crypto exchange, wallet or protocol. Its idea was to use blockchain to log flights and make them available to flight data operators, schools and passengers with an ultimate mission to make aviation safer and more transparent. This concept resonated with 3700 backers and aviation enthusiasts who rewarded Aeron with their trust and investments.
Although the hard cap was not reached, the Aeron team reported that they had enough funds to deliver on their roadmap. One month after the ICO, they launched the aerotrips.comportal with improved design and usability and 2000+ flight schools connected. In early January 2019 Aeron released flight logging apps for iOS and Android to beta testers and discussed the possibility of partnering with Bahrain businesses and authorities. Due to high load on the Ethereum blockchain, the Aeron tech team are considering Stellar as an alternative blockchain. Tests are due to come. The Aeron tokens are currently trading on Binance, HitBTC, Tidex, Bit-Z, among others.
GoldMint – $7,3 million raised
The idea of GoldMint was built around tokenizing gold and ensuring buyback of these GOLD tokens by physical gold assets and exchange-traded funds. Built on a private Graphene-based blockchain, GoldMint successfully closes their ICO with 4946 ETH and 837 BTC raised. Although their business idea raised some concerns as to legal implications of gold tokenization, the team collected enough for the development of their private blockchain and the custody bot. Their MNTP token is currently traded on EtherDelta, YoBit, and they also have been listed by Bancor. Among other news, GoldMint hired a new Chief Marketing Officer and integrated with the online user verification service Shufti Pro.
LAToken – $19,600,000 raised
LAToken ICO promoted them as a blockchain platform that tokenized assets ranging from equity and debt to real estate and works of art. Investors were clearly engaged, as they raised $19.6 million from 17,000 contributors (an equivalent of 78,550,169 tokens) and became number one tokenization platform by funds raised.
Over the past three months the price of the LA Token more than doubled, and its overall market cap reached $41 585 857, according to CoinMarketCap . The token is currently traded on OKex, KuCoin, CoinExchange, HitBTC, EtherDelta, among others. At the end of the year, LAToken hosted a Blockchain Economic Forum in New York and started trading in silent mode 20 major crypto pairs. They also passed the Howey test and added Paolo Tasca, Founding Director of the Centre for Blockchain Technologies at the University College London, to the advisory board.
ChainTrade – 42,034 ETH raised (SOFT CAP reached)
ChainTrade is a marketplace based on AI, blockchain and smart contracts for trading derivatives on food and raw materials at lower fees than most traditional exchanges. Following their successful ICO with 42,034,200 ChainTrade Tokens issued, the team has been busy negotiating with Singaporean authorities about the trading license. The team also met with institutional investors in Geneva. The CTT token is now being traded on EtherDelta and several smaller exchanges.
DomRaider – $30,987,919 (HARD CAP reached)
DomRaider, a dropcatching service and a blockchain-based domain auctioning platform, was operational since 2013 and already had a working product, so investors clearly felt that their ICO was trustworthy and deserving of their crypto. Following their ICO, the DRT token had its ups and downs, but with an overall increase in price and a total market cap of $36 057 071. It is currently traded on EtherDelta and HitBTC. Their auction platform MVP has just went online, and the team has recently expanded to 41 members.
MicroMoney – $10,541,640 (SOFT CAP reached)
MicroMoney is a blockchain-based microlending solution based in South-East Asia with a socially conscious attitude, seeing 2 billion underbanked people in developing countries as their target audience. After the closing of their ICO with over $10,5 million worth of tokens raised, they released a fully functional app and expanded to Africa. MicroMoney announced partnerships with Narbonne, a cryptocurrency-based platform for banks and lending institutions, and L-Pesa Microfinance, a Tanzanian microlending and fintech company. Their ATT token is being traded on 8 exchanges, having increased in value 1,5 times.
BLOCKv – $21,599,100 (54% of the hard cap)
BLOCKv presented an overlay protocol on the blockchain that combined code and multimedia elements to allow developers to build smart objects or experiential virtual goods (vAtoms). Although the ICO stopped short of the hard cap, the team continues working hard on their product. BLOCKv successfully partnered with Megafon, a Big 3 Russian mobile communications company, to conduct an augmented reality treasure hunt and designed a virtual goods app for Zurich Open Air. Meanwhile, their VEE token increased in value more than 10x.
Playkey – $10,512,361 raised
Playkey is a decentralized cloud gaming platform allowing gamers to access top quality titles even on outdated hardware. After the ICO, their PKT token has doubled in value and is being traded at Coinexchange, EtherDelta, Mercatox, IDEX, and Lykke. In January 2018, the team has completed the architecture of the new platform and is in the process of testing.
ETHLend – $16,168,000 raised
An Ethereum-based p2p lending platform, ETHLend raised a decent amount during their ICO and quickly delivered on its roadmap, releasing the Alpha 0.2 version and reaching lending volume of over 1 500 000 USD in just a month. Its LEND token is being traded on AEX and OKex and has increased tenfold in value. Its total market cap is $189 287 797, propelling LEND in Top 120 of cryptocurrencies.
Horizon State – over $1 million raised
Horizon State is a blockchain-based voting and decision-making platform. Tested during Australian parliamentary elections, it had a modest cap and a no-nonsense whitepaper, which appealed to investors. It has become the highest-grossing Australian ICO, and its team recently integrated with Aragon voting modules.
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