Srp 11

Interview with DMarket: The First Cross-Game Marketplace for In-Game Items

· August 11, 2017 · 4:15 pm

Bitcoinist spoke with Volodymyr Panchenko, Founder and CEO of DMarket, a first-of-its-kind marketplace that allows gamers to buy, sell, or trade in-game items from any game on any gaming platform.


Bitcoinist: What is DMarket?

VP: DMarket is the first cross-game marketplace that allows gamers from all over the world to trade or exchange in-game goods originating from any gaming platform. In fact, DMarket will allow more than two billion gamers to buy and sell their items. Existing games and platforms are currently covering only 6% of gamers worldwide. We will give this opportunity to everybody.

DMarket in-game asset marketplace

Bitcoinist: What is the difference between you and Steam, for example? Are there any other competitive advantages that your platform has comparing to the other existing ones?

VP: As I just mentioned, our platform will satisfy the “trade needs” of all gamers, as opposed to the other platforms that currently cover 130M (6%) video game players. I am not saying we are better and they are worse. Ours is just a different approach. We use blockchain technology that makes this set-up possible.

Let me explain: technology actually lies at the core of the problem. To make trading possible on a large scale we need to synchronize hundreds of thousands of databases. We are using a decentralized database on blockchain to address this. All operations are fast, secure and synchronized in real time. The important part is that a sale or exchange of any virtual item from any game or platform can happen in one click. This turns each and every virtual item into a real commodity for billions of gamers worldwide.

Bitcoinist: How does DMarket work with game developers?

VP: Using our API, any game developer can easily connect its game to DMarket. These days we are talking to Unreal, Unity and CryEngine developers to feature DMarket libraries on their engines. This will simplify and improve game developers access to our platform.

Bitcoinist: Are there any benefits for game publishers?

VP: Both mobile and PC game publishers will benefit from working with us. We can help them drive their direct revenues. DMarket gets a commission from every deal and the major part of it goes to the rights holder. There’s also what we call “shared marketing”. By promoting our platform, we promote all the video games available there. As a result, the game publisher doesn’t need to invest as much into marketing. Marketing budgets can be reduced!

The third benefit is the increased lifetime value. By giving gamers worldwide the opportunity to make money by trading, exchanging and “hunting down” rare in-game items, we are prolonging the lifetime of the games. Based on our experience in game trading, out of 10 thousand games that we trade every day, 80% are more than 2 years old. Our platform increases the life cycle of the games.

How DMarket works

Bitcoinist: You’ve just mentioned about your experience in game trading. Could you please tell us more about your expertise?

VP: Being the founder of Suntechsoft company, I can say that I’m quite an expert when it comes to game trading. Suntechsoft is the number one private merchant of digital games in the world. In the past 5 years, we sold over 15 million games via eBay, G2A, and Kinguin. I am also the founder of skins.cash, the 2nd biggest virtual items marketplace (12M items sold in the past year alone). With total annual revenues of $50M. So yes, I’ve got expertise in virtual items and games trading.

Bitcoinist: What about the rest of the DMarket top management team?

VP: We have a core team of 3. We all come from different work backgrounds. Co-founder of DMarket Alexander “ZeroGravity” Kokhanovskyy has 17 years of experience in eSports. He is the founder of Na`Vi (Natus Vincere), one of the most popular and successful eSports teams in the world. In 2016 he became a shareholder of ESforce Holdings, the 3rd biggest eSports entity funded by USM Group (Mail.ru, VK .com, Megafon) which raised over $100M of investments in the latest round.

There’s also Andriy Khavryuchenko, the senior developer of DASH cryptocurrency (world top 7, market cap $1.4B). He has 4 years of experience in crypto development and 26 years of experience in software development.

DMarket to Monetize Game Items with the Power of Blockchain

Bitcoinist: Since you have experience in trading and cryptocurrency development, are you planning token emission?

VP:  The only technology allowing Dmarket to run is decentralized blockchain. Since we can not put a hundred dollar bill into the smart contract, we definitely need to have tokens. Dmarket tokens will be the only native currency of the platform for all trades, exchanges, and fees.

DMarket launches the first round of token sales on August 17, 2017. The second round will follow in November 2017. Tokens will be available to trade within 30 days on major cryptocurrency exchange.

Bitcoinist: What are the minimum and maximum amounts of money you plan to collect during ICO?

VP: The minimum amount we aim for is 5 million DMarket tokens with 1 ETH being equal to 1,000 DMarket tokens. The maximum amount is 50 million tokens.

Bitcoinist: What are the reasons to buy DMarket tokens? How can you guarantee the value of your currency?

VP: Every purchase, sale, exchange or any other transaction on our platform will require the use of DMarket tokens. No further emissions are planned beyond the first two trading rounds. The amount of trading and exchanging transactions on the platform will naturally grow fast over time and so will grow the need for the tokens. That is the best guarantee of DMarket tokens value.

Bitcoinist: What makes you think that the amount of purchase, sale, exchange and other transaction on your platform will go up?

VP: They will go up as the industry as a whole grows. We are witnessing a rapid growth of the gaming industry. It’s estimated that 2.2 billion gamers will generate $108 billion of revenue this year. This is a 6.8% growth on 2016. In addition, according to forecasts, the combined revenues of the AR and VR market will reach $122 billion by 2021.

Are you a gamer? How will DMarket’s cross-game marketplace change how in-game assets are bought and sold? Let us know in the comments below.


Images courtesy of DMarket, Wikimedia Commons

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Srp 07

CashCow ICO Looks To Boost Indonesian Cattle Farmers’ Profits

· August 7, 2017 · 4:00 pm

Hong Kong based Bitcoin Entrepreneur James Bang announces CashCow ICO designed to increase Indonesian cattle farmers’ profits from the sale of their cows from 20% to 33%.


The South China Morning Post reported on Bitcoin entrepreneur and investor James Bangs’ desire to revolutionize the cattle financing model, specifically in Indonesia where the large population of farmers is unable to buy their cattle assets outright.

 Family Vacation To Indonesian Family Led To CashCow Idea

Family Vacation To Indonesian Family Led To CashCow Idea

James Bang first thought of the CashCow ICO during a trip to Indonesia with his family, where he observed that his Father-in-law had sold two cows for HK$27,300 (approximately $3489.82 US Dollars) to pay for the renovation of his kitchen.

Bang noted:

For another family, their motorcycle was old and they needed to upgrade. So they sold two or three cows to be able to afford a major purchase.

Cattle are then easily accounted for by representing them with tokens on a fully documented blockchain ledger, in this case, the Ethereum blockchain. However, most poorer Indonesian farmers do not directly own the full worth of their cows, which are financed for purchase by third party financiers. The farmers are liable for costs such as feed and veterinarian bills while the financier often takes the largest share of a cow’s final sale price, whether this be to another owner or directly to beef production facilities.

Airbnb for Cows

Airbnb for Cows

Discussing the impetus behind CashCow, Bang explained:

I was really inspired by Airbnb… I figured how can we apply this to the agricultural industry … There had to be a way these farmers could maximize their extra farm space.

While the South China Morning Post does not elaborate on this point, it is possible that farmers will be able to leverage their extra farming space by possibly accommodating investor cows. Bang hopes to raise US$15 million through the offering set for launch in October 2017, which will be used to fund the purchase of calves.

Higher Returns for Cattle Farmers

Bang said his goal is to give farmers higher returns when they sell their cattle, which he sets at 33 per cent, given the cost cutting afforded by the lack of third party accounting this is a reasonable increase in income for farmers currently only getting 20% of the cows’ final sale value.

Finally, Bang will also give investors 33 per cent from every cattle sale, with his start-up reinvesting the remaining third to purchase further cattle and build larger cow sheds.

Will this ICO be something you are interested in and is this the kind of ICO that you think Blockchain technology is ideal for? Let us know in the comments below.


Images courtesy of Pixabay, Pexels

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Srp 06

Po.et Partners With Blink To Automate Licensing Digital Content To Major Media Companies

· August 6, 2017 · 6:15 pm

The prominent blockchain-based digital asset management startup Po.et has announced its partnership with the global content studio Blink.


Proof of Existence 2.0

Po.et is a very young blockchain startup that aims solve multiple problems in the digital content industry. The Singapore and Los Angels-based project utilizes blockchain technology in order to create a platform that makes publishing, licensing and distribution of digital assets easier.

The Po.et platform would essentially use blockchain technology and smart contracts to eliminate the middle man and thus, allow content creators to directly sell their digital assets to publishers, without having to pay enormous transactions fees. It’s worth to note that Po.et’s platform includes a digital media licensing market, which would allow publishers to directly select digital assets that fit their territory.

Currently, the Po.et project is planning to host its initial coin offering with the help of Moscow-based startup, Zerion. Interested contributors can invest into the token sale with an invite code that can be obtained through the official po.et website.

Partnership with Blink

Po.et partners with Blink

In an official press release, Po.et announced that the international content studio Blink has partnered with the young startup to efficiently track licenses with the help of blockchain technology.  According to the press release, Blink’s customers include prominent corporations like Google, Airbnb, ESPN, and more. In the article, the CEO of Blink, Matthew Craig, stated following about the partnership:

The unwieldy process of managing licenses and copyright terms for the large volume of content produced by Blink is simply a fool’s errand – our clients want a better solution that creates transparency and accountability at every stage of licensing and our artists deserve it. This partnership is a critical step forward for licensing and will allow Blink to continue servicing the insatiable market for original content at scale,

Konstantin Richter, responsible for the Business Development of Po.et also added:

This partnership allows us at Po.et to envision a complete marketplace where freelancers can get hired, protect their work and get rewarded for it in a proactive manner. The Blink participation will help us to ensure we develop the right blockchain utilities to serve their needs,

With the use of blockchain technology and smart contracts, Po.et will be offering an extremely useful tool that will save publishers and content creators from a lot of “headaches”.

What are your thoughts on the Po.et and Blink partnership? Do you think that Po.et will become a successful platform? Let us know in the comments below!


Image courtesy of Po.et, Pexels, Shutterstock

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Srp 01

ICO Haven Sent Packing; Singapore follows SEC Lead to Regulate Securities-type Token Sales

· August 1, 2017 · 5:15 pm

Exactly one week ago, the SEC issued a report concluding that certain token sales could be considered securities, and hence were subject to regulation. Today, the Monetary Authority of Singapore (MAS) issued a similar statement, clarifying that, in some cases, Initial Coin Offerings (ICOs) were essentially equivalent to securities, and should fall under the same regulatory procedures.


I can’t help but feel slightly responsible. After all, just five days before the SEC report was published, I wrote an article describing many of the recent ICOs as tantamount to “buying shares in a stranger’s start-up.”

Oops!

SEC Issues Warning for ICO Organizers and Investors

Say What Now?

Sure, the SEC report was a direct response to the hack on the Ethereum side project, the DAO hub, almost a year ago… So I guess that can’t be my fault, but the timing is more than a little suspicious, wouldn’t you say?

Okay, the SEC focussed more on the risks to investors, and (quite rightly IMHO) ascertained this. If the token issued is promising to give investors a return (i.e. dividend), then it should fall under the realm of the SEC, and be subject to regulation. These rules are there to protect investors, so really it would be churlish of us to complain.

They also decided that they wouldn’t press charges at this point, but that future ICOs should be wary of where the often hazy line is drawn. Many token sales already prohibit U.S. citizens from participating for just this reason, so it’s not something we weren’t already aware of.

But Singapore? They Were Like… Totally Chill Man!

Well, yes and no. Singapore’s recent experiments with the tokenization of its currency were seen as an implicit embracing of all things crypto, with local authorities stating that they don’t consider digital tokens as securities. However, this is also the place where you can be fined $100,000 dollars and spend two years in jail for chewing gum.

The report is very clear and states:

The function of digital tokens has evolved beyond just being a virtual currency. […] Where digital tokens fall within the definition of securities in the SFA, issuers of such tokens would be required to lodge and register a prospectus with MAS prior to the offer of such tokens

So the Party’s Over?

No. Not by a long shot. Both the SEC and MAS reports specifically stop short of claiming that all cryptocurrency tokens and ICOs will fall within their remit. The MAS explicitly states that their “position of not regulating virtual currencies is similar to that of most jurisdictions.”

As would be expected, no specific definition is provided as far as what will or will not count as a security. But implicit in these reports is the assertion that this isn’t going to affect your Bitcoin, or your Ether, or your Just-doing-this-for-a-joke-Coin, whatever.

If a coin functions as a coin, then it should be fine. If a coin functions as a token for the purchase of service or product within an eventual eco-system, then that should also be fine.

If a coin is promising dividends based on a company’s profitability, then… yeah. If it sounds like a share in a stranger’s start-up…

But… but… but…

Let me repeat once again that these regulations are here to protect us, the investors.

Yes, our eyes may spin like a cartoon character’s until the pupils resemble dollar signs at the mere thought of that near-mythical level of profit that a friend of a friend down the pub told us about but we would all be sick to our stomachs to find out that the ICO we just plowed our hard-won life-savings into was just an elaborate Ponzi scheme after all.

To ignore the risk of one for the sake of the other would make us not investors. It would simply make us gamblers.

What do you think of the SEC and MAS’ recent reports? Will it have an impact on which ICOs you choose to invest in? Have you found yourself frozen out of an ICO because of where you live? Let us know in the comments below.


Images courtesy of Wikimedia Commons, Fotolia

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Čvc 27

True Flip and DAO.Casino Enter Strategic Partnership to Improve User Experience; ICO Nearing Completion

· July 27, 2017 · 5:30 pm

Provably fair blockchain lottery True Flip has announced a strategic partnership with DAO.Casino, the gambling blockchain protocol which allows for the creation of custom-made decentralized online casinos funded and run by the community. Both projects are currently in ICO stage.


The Beginning of a Beautiful Partnership

For their first joint project, True Flip will undertake the development of a decentralized lottery game on their platform utilizing DAO.Casino’s gambling protocol. True Flip expects this update to provide additional momentum to platform’s development following the crowdsale.

Nikita Parhomenko, True Flip COO

Nikita Parhomenko, True Flip COO, stated:

As we’re aimed to provide the ultimate user experience for those playing at True Flip, the general idea of extending our product line was stated to be among the first major improvements following the crowdsale. It has become clear that True Flip and the team behind DAO.Casino have a mutual interest, so we move on with our Roadmap goals using this chance to rapidly implement the partner’s excellently crafted solution. Thanks to the success of True Flip’s ongoing crowdsale, now we’re ready to boost the planned improvements process.

The DAO.Casino team, on the other hand, believes that this implementation will be a great illustration of the ways their innovative protocol can benefit all sorts of online gambling services and the entire online gambling community.

DAO.Casino CEO Ilya Tarutov

DAO.Casino CEO Ilya Tarutov weighed in on the partnership as well:

The DAO.Casino’s protocol was created to provide the necessary level of decentralization for the businesses seeking it. True Flip is one good example of the benefits given by such partnerships. As we provide this team with a sustainable back-end solution to maintain one of its gaming options, it’s going to become a good showcase of the opportunities that DAO.Casino provides to its partners and another argument in favor of the bright future ahead of our technology. We look forward to making this partnership a truly win-win for both teams.

Further details of the project have yet to be released, however, additional information will be provided in the coming weeks as the new API integration process has only just begun.

True Flip ICO Status Update

True Flip’s ICO, which ends in a little over a day and a half at the time of this writing, has been – by anybody’s standards – a rousing success. In the first few hours following the ICO’s launch, over 2 million of the available 14.7 million TFL tokens had been sold, raising an impressive 1225 BTC or $3.1 million USD at today’s exchange rates.

Now, with the end of the ICO just around the corner, TrueFlip has announced the desired goal has been attained.

Parhomenko addressed ICO participants stating:

First, I’d like to thank all token holders for their priceless support of this project. I’m sure there are no obstacles now to thwart our way ahead! With good efforts already made, we’re ready to face the tough challenge of gaining the desired market share. True Flip has all the prospects to set the industry standard in provably fair gaming. This target motivates the team on its step-by-step track towards the desired product and business setup. In the nearest weeks, we’ll provide more news on True Flip’s current workflow and further development.

True Flip ICO Status Update

At the completion of the crowdsale, all remaining unsold tokens will be destroyed and funds raised will be allocated as follows:

  • 40% of funds raised during the campaign will form the jackpot
  • 23% will finance further development of the platform and new games
  • 20% will be reserved for marketing
  • 12% for operations
  • 5% for legal purposes

Holders of TFL tokens will be entitled to participate in the decision-making process regarding the project’s future development. In addition, they will be eligible for a share of 10 to 15 percent True Flip’s revenues from all tickets sold every quarter.

There is still time to participate in the ICO and earn 20% bonus TFL tokens. Once the 2000 BTC mark has been reached that bonus will be slashed in half to 10%. To learn more about TrueFlip please visit their official website or click here to learn about the True Flip ICO.

About True Flip

True Flip is the developer of a provably fair blockchain-powered international lottery inspired by classic PowerBall-like lotteries. The platform has proven to be extremely popular, having attracted over 100,000 players worldwide and paying out over 44 BTC since its beta launch in April of this year.

About True Flip

The project’s team summed up just how True Flip differs from traditional lotteries:

The history of lotteries has not known any solution that could guarantee the absence of any meddling. TrueFlip intends to revolutionize lotteries with transparency and fairness brought about by blockchain technology.

For more information: Website  •  ICO  • White Paper  •  Github  •  Steemit

What do you think of the new partnership between True Flip and DAO.Casino? How will it improve the platform’s UX? Let us know in the comments below.


Images courtesy of True Flip, DAO.Casino

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Čvc 20

Tick-Tick-Boom! The Explosive Rise of the ICO

· July 20, 2017 · 4:30 pm

Over $1.3 billion has been raised so far this year through Initial Coin Offerings (ICOs). Almost half of that has come in the last month alone. Ex-Ethereum-CEO, Charles Hoskinson, recently described today’s digital coin market as a “ticking time bomb”. So what exactly is going on? Who are the winners and losers in all this? And most importantly, are we ‘in’ or ‘out’?


I see… Oh!

Initial coin offerings are currently everywhere. If I threw a tennis ball out of my fourth story window it would bounce off at least six ICOs before it got to the ground. The popularity and success of Bitcoin, Ethereum, et al., have investors moist with anticipation at getting their hands on the latest crypto-token. But how many of them understand what exactly the latest crypto-token is?

In truth, the majority of ICOs at the moment are being used to crowdfund virtually any half-arsed tech-project running on a blockchain. If it has a blockchain (or will have a blockchain), you can issue a token (or have a pre-sale of the tokens). Hence, you can raise the funds so desperately needed to complete/start your project (or create/buy that blockchain).

Yes, as an investor, you ostensibly have a new crypto-coin, but it’s not a million miles away from buying shares in a stranger’s startup.

But if the value goes up...

But if the value goes up…

Congratulations, you’re today’s big winner! Well, maybe not the big winner. The company whose project you funded are the big winners. You can bet they have far more of their freshly minted crypto-coins than you do. But you made money, so who cares?

The co-founder of Ethereum cares. Speaking to Bloomberg this week, he said

People say ICOs are great for ethereum because, look at the price, but it’s a ticking time-bomb… People are blinded by fast and easy money.

That’s almost as rich as he must be! Bear in mind that an awful lot of these coins are built on the back of the Ethereum network he helped develop, and helped along by that, the price of (his) Ether went from $8 to $400.

So Who's the Loser?

So Who’s the Loser?

Americans. Digital coin sale regulations in the US are unclear, so many ICOs officially prohibit U.S. residents from participating. Companies don’t want to be risk being accountable to the U.S. Securities and Exchange Commission, in case investors lose money.

Everyone’s afraid of the SEC. They can reach anyone in the world.
– William Mougayar, author of ‘The Business Blockchain’

But I’m not from the U.S… So, am I ‘in’ or ‘out’?

At the moment I have to say “In”… cautiously. Do your research, obviously! Don’t just jump like a grasshopper at the next ICO my tennis ball bounces off. There are some bad people out there in the world who just want to take away what you have… But you knew that, right?

By the same token (hah!) there are also some fantastic investment opportunities.

Yes, every bubble has to deflate (except maybe Bubbalicious?), and sooner or later it is almost certain that the bony fingers of regulation will be on their way, but ICOs aren’t going anywhere.

Brad Garlinghouse, CEO of Ripple, stated:

Regardless of regulation ICOs is here to stay. After it collapses they’re going to pick up the pieces and say how do we do things differently.

As we speak, people are making several fists full of dollars, and I see no reason why we shouldn’t be one (or more) of them.

So let’s make hay while the sun shines.

Is the ICO a ‘ticking time bomb’ or is it sustainable? Let us know what you think in the comments below.


Images courtesy of Shutterstock

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Čvc 15

Investors see ICO as the Future of Venture Capitalism

· July 15, 2017 · 12:30 pm

This year has been a very profitable for cryptocurrency investors. More and more people are investing in ICOs (Initial Coin Offering) in hope to get in the next Bitcoin or Ethereum.


ICO the Future of Venture Capitalism?

The Future of Venture Capitalism

Any way you look at it, 2017 has been a record setting – and record breaking – year for cryptocurrencies and ICOs. Over 40 different projects have managed to raise an impressive $1.2 billion USD in funding through token sales. Investors and experts believe that this is just the beginning and that ICOs will become the de facto method for fundraising in the future.

In light of the overwhelming successes of several recent ICOs, many startups have decided not to take the traditional path of fundraising through venture capitalists (VCs) and instead launch their own ICOs. Not wanting to be left out of the money loop, many venture capitalists are now turning to ICO-focused hedge funds. In fact, in 2017 alone, over 15 new hedge funds have launched or will be launched by the end of the year. Many of these funds are backed by VCs like Founders Fund, Sequoia Capital, and Union Square Ventures.

According to a recent article in Forbes, among the list of newly created hedge funds are Polychain, founded by Olaf Carlson-Wee, and MetaStable, founded by Lucas Ryan, Josh Seims and Naval Ravikant, the chief executive officer and co-founder of Angel List.

Bubble or Bull Market?

Bubble or Bull Market?

Some experts believe that the recent hype surrounding ICOs might be an indication for a bubble. The commonly held opinion among these experts is that with new ICO projects being launched nearly every week, many investors may be “blinded” by their greed and invest in projects that have no working product, business plan or future development plan.

William Mougayar, the general partner at early stage fund Virtual Capital Ventures, said following regarding the current ICO situation:

If you rush gains, valuations, expectations, hype, etc… the whole thing will crash down. That is what happened in 1999/2000 with the Web. Suddenly, everything was going to be on the web, whether they were good or bad ideas, and whether they were experienced or non-experienced teams,

This current ICO frenzy is reminding a lot of investors of the famous Dot-Com bubble of 2000 that cost investors $5 trillion. This week, the cryptocurrency market had a strong downtrend that brought down the market capitalization from $100 billion to a current $71 billion.

What are your thoughts on the future of venture capitalism? Do you think that more VCs will jump on the ICO train? Let us know in the comments below!


Images courtesy of Pexels

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Čvc 12

A2B Direct to Launch Blockchain Platform and Hold ICO

· July 12, 2017 · 3:00 pm

Logistics company A2B Direct, currently operating in Eastern Europe, announced the launch of its Ethereum-backed ICO. Beginning on July 12th, 2017, the campaign is scheduled to last for one month and seeks to raise between €500,000 to €3,000,000.


The platform was first introduced in late 2016 and became widely known as a “freight Uber.” The service provides direct interaction between freight forwarders and cargo owners, ensuring 24/7 communication with the driver, and taking care of all involved paperwork while getting rid of forwarding expenses.

A2B Direct

A2B Direct ICO

Unlike most companies that hold coin offerings, A2B Direct is not raising funds for the purpose of developing a solution. They already have a platform that is fully operational and already in use.  Instead, the ICO is raising funds to finance transferring the existing platform onto blockchain in order to cut expenses for international transportation and make business easier for both carriers and customers while allowing them to work with Fiat and cryptocurrencies at the same time.

The A2B tokens sold during the ICO will entitle investors to receive their share of the company’s profits similar to traditional shares, and the raised funds will be used for the expansion of the company in Western European and American markets.

How the ICO Funds Will Be Allocated

Depending on the total amount raised during the campaign, the company has rolled out several development strategies:

€500,000 – A2B Direct will focus on hiring Ethereum and blockchain developers to facilitate transferring the platform onto the blockchain.

€1,000,000 – As above plus A2B Direct will launch a European office and adapt its services to European standards.

€2,000,000 – As above plus A2B Direct will open several offices in Europe while adapting its services for the specific needs of a particular country.

€3,000,000 – As above plus A2B Direct will launch an American office.

In the event that the A2B Direct ICO fails to raise the minimum €500,000, all investors’ contributions will be refunded in full.

A2B Direct Logistics

How to Contribute to the ICO

The A2B Direct ICO will be accepting investments in Bitcoin, Ether, and Dash, and will require that users register a personal wallet to run all financial operations during the campaign and later receive dividends for the company’s further operation and progress.

The minimum contribution amount is set at $10 USD for which one may buy 100 A2B tokens, with 30,000,000 tokens issued overall. This amount accounts for 30% of the company’s assets. The tokens will be pegged to USD in order to link the growth of its exchange rate to the expansion of the company. The token price will depend on the number of vehicles subscribed to the platform, therefore their price will directly reflect the platform’s activity. Owners of A2B tokens will be entitled to use them as soon as they are received.

If A2B Direct sells between 2 and 19 percent of the issued tokens, investors will be entitled to 6% of annual dividends as calculated based on the number of tokens held by each investor individually. If the company sells more than 20 per cent of the tokens, the investors will be receiving 10% of the profits annually. Additionally, A2B will award bonuses to token holders as of 2018.

Further details about the A2B Direct project and the ICO model are available in the whitepaper.

What do you think of A2B Direct’s platform and ICO? Do you plan to participate? Let us know in the comments below.


Images courtesy of A2B.direct

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Dub 27

Ethereum Classic Takes Stance Against ‘Manipulative Crowdsale Tactics’

· April 27, 2017 · 8:30 am

The Ethereum Classic team addressed the current ICO hype, warning against “manipulative crowdsale tactics,” while promising not to vouch for coin offerings “in the same capacity” as the Ethereum Foundation. 


Ethereum Classic on ‘Irrational Appcoin Exuberance’

The Ethereum Classic development team has shared its opinion on what Nick Tomaino’s called, the “Irrational Appcoin Exuberance.” This exuberance is currently seen in Ethereum and may soon come to Ethereum Classic as more capital flows into the network.

Citing concerns regarding the way Initial Coin Offerings (ICOs) are structured in Ethereum and even within the Ethereum Classic network, the post seeks to caution investors against potentially risky investments in poorly planned or outright scam ICOs that can result in monumental losses for naive investors.

The post also showcases some examples where the Ethereum Classic community and dev team has performed its due diligence and warned against ill-conceived crowdfunding campaign on the ETC network, noting the different attitudes that the two competing blockchains, ETC and ETH, employ towards the Initial Coin Offering frenzy. The post reads:

As one might expect, ETCDEV will not vouch for coin offerings in the same capacity as the Ethereum Foundation members who signed on as curators for the launch of The DAO crowdsale.

Appcoins Coming to ETC

The Ethereum Classic team sees yesterday’s launch of the Grayscale Ethereum Classic (ETC) Investment Trust, whose shares are the first securities solely invested in and deriving value from the price of ETC , as a possible incentive for developers to run their ICOs on Ethereum Classic’s “immutable chain.”

“If stakeholders profit in a short span of time as a consequence of the launch of the Ethereum Investment Trust, some developers may choose to run their ICOs on the immutable chain, inviting the backing of the ETC nouveau riche,” the post explains.

Ethereum Classic

Developers will be able to kickstart their Initial Coin Offerings through the Emerald Wallet, an official desktop wallet, that is currently being developed by the ETCDEV team.

It will feature an integrated set of tools that can be used to launch ICOs and build custom applications on top of Ethereum Classic blockchain, allowing the Ethereum Classic team to distance itself from said crowdfunding campaigns.

ICO organizers may opt to use Emerald Wallet tools to deliver tokens to backers, though crowdfunding will not be the stated purpose of the software. Taking advantage of these tools for the creation of ETC decentralized apps, startups can issue offerings without ETCDEV having to involve themselves in ICOs.

‘Curb Your ICO Enthusiasm’

Despite this, the Ethereum Classic team does not share the general enthusiasm that is felt towards ICOs and appcoins, citing Barry Silbert, founder of the Digital Currency Group.

Bitcoinist_Digital Currency Group Barry Silbert

During a presentation at the Blockchain Startups Singapore meetup in November 2016, Silbert noted that the lack of legal structure found in those could “attract negative attention from the Securities and Exchange Commission.”

Instead, the team considers “store of value through monetary strategy, internet of things functionality, and smart contracts applications” as the investment merits of ETC.

In the Ethereum space, some developers are voicing concerns regarding recent crowdsales. There exists at present no established framework for investors to assess Ethereum startups’ ICOs, along the lines of a PhD student’s being required to defend their thesis.

The nature of ICOs has made it the perfect pitfall for naive investors who may be enthusiastic about blockchain technology but cannot see through “manipulative crowd sale tactics” often employed by these projects, which often rely on Ethereum and Ethereum Classic blockchains.

The dev team references two ICO hoaxes that took place in the Ethereum Classic blockchain, Unicorn and BorgDAO, the latter of which collecting funds from investors.

Our contention here is that 1) irrational app-coin exuberance and 2) potential SEC intervention should be kept in mind by ETC investors when considering participation in a risky initial coin offering. We do not support disingenuous and manipulative crowdsale tactics, nor do we believe that we have seen the last of hoaxes like the BorgDAO.

Investors should be very cautious when investing in Initial Coin Offerings. Be it on the Ethereum, Ethereum Classic blockchain or any other ‘blockchain.’ ICOs can result in huge losses and some are outright scams.

Bitcoinist advises everyone to perform due diligence and to vet projects and teams carefully before committing your money.

Will we start to see more ICO’s on the Ethereum Classic blockchain? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter

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