Badman ICOs #2 - Acorn Collective Overview
With the state of cryptocurrencies at the moment and the market recovery on the verge of getting a foothold, it’s time, atleast in my opinion to start taking a look at some of the promising projects that will be running their ICO over the summer months. If we see a full recovery in the market and a nice run leading into the end of the year, these projects will be perfectly placed to see some great profit margins.
I will be running another series alongside this one, with in depth reviews of each project starting at some point before the start of May.
Check out Badman ICOs #1 - XYO Network Overview
For the second of this new series on ICOs, I am going to cover a project which has a team behind it that can take the crowdfunding market by storm. Another of my picks of the top projects available at the minute, Acorn Collective.
Crowdfunding is a method for small or new companies to raise capital to fund their project. Traditionally, startups would need to find a few large investors who would be willing to invest in the project and in exchange, own a portion of the company - often called 'angel investors' (we’ve all seen the apprentice right?). The advent of the internet however, allowed a paradigm shift in the way projects could be funded. ‘Few’ became ‘many’ when platforms like Kickstarter, CrowdCube and Seedrs enabled startups to gain capital from millions of potential funders.
The are a few problems with the current crowdfunding industry (not least of all the 5% cut the large platforms take) however, and this is where Acorn Collective come in. The Acorn Project has 3 main aims to revolutionise crowdfunding, namely: Access, Success and Transparency. These project aims are designed to allow global access to crowdfunding for startups, Improve success rates for startups by automating complex digital marketing campaigns and improve trust for investors due to the immutability of blockchain technology.
Crowdfunding is forecast to be a $1 trillion industry within the next 10 years and if Acorn can succeed in linking up the countries that currently miss out, I would expect $1 trillion much earlier.
The Acorn Collective makes use of a utility token (OAK) with the official token sale running between May 26th and June 24th 2018. The ICO is be priced using a flat pricing structure of 1 OAK equalling $1.40 (Subject to daily exchange rate fluctuations). The token makes use of an ERC20 smart contract based on the Ethereum blockchain with a ICO hard cap of 25 Million OAK tokens
Access - The Acorn platform aims to break down geographical barriers and give crowdfunding access to any legal and ethical project worldwide. The current market is heavily biased towards North America and Europe, with 70% of funds being invested in these areas. Acorn plan to partner with local accelerators to make small businesses and individuals aware of the platform, and assist them in application.
Success - The success aspect of the project is aimed at the 78% of projects that currently fail to meet their targets. Using the Acorn “Crowdfunding Engine”, projects will have access to integrated platform partners in marketing, social media and content production to help the project reach an effective audience.
Transparency - As 9% of successfully funded projects fail to deliver their reward. By using blockchain based deliverable funding, portions of the funding can be released as project milestones are met, giving projects an incentive to hit targets and the inherent transparency of the blockchain means backers can receive at least a partial refund if the project fails to deliver.
The project has a strong team that have a lot of experience in their respective fields with a clear vision and mission and high ambition. There is currently no MVP although the presale was run in Jan-Feb 2018 to fund development and the MVP is scheduled to be released around Q2 - Q3 of 2018.
For more info about the project, check out the links below to visit the website and check out the whitepaper and if you have any questions you can ask the team directly on their telegram channel. Alternatively check out the ANN thread on Bitcointalk forums.
Badman Crypto (Phil Stephenson):
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ETH: 0xea5924b2a0b977604c9dd02fd4723cf92767a083
NEO: AWoF9Jaj4UchBG9iTkL54NjM6UgoX9yTpW