FABRIC Token ICO Ongoing - Raises $1 Mil First Day
A lot of my youtube viewers ask for interesting ICO opportunities. This one came on my radar from a news article I found. On the first day, they've raised about 1 million in crowdfunding. The ICO lasts 30 days, but there is a hard cap of about 9 million dollars to raise.
Hard-cap ICO's tend to fair better for ICO investors because if the cap is reached and the project ends up carrying a higher market capitalization, then investors fair very well. ICO Goal thus far:
Distribution Analysis
From their whitepaper we see the allocation of tokens:
Token Distribution
– 71.25% will be available for sale to the general public.
– 12% will go to the Fabric Token core team and will be released after 12
months.
– 8.75% will go to the Fabric Token strategic advisors and will be locked until
the end of the FT launch.
– 7% will be allocated to advisors and released after 6 months.
– 1% will be used for the bounty program
In other words, if they raise the full 9 million amount, this will peg their total ICO market capitalization at something like $12.5 million USD roughly. To me, this is a very small market capitalization for a project getting a little news coverage and raising $1 mil within 24 hours.
The top 100 cryptocurrencies all exchange in excess of $100 million right now, and a lot of them are total junk. This may be a junk project too, but participants get an ETH token which will presumably be on some exchanges. So long as this token finds its way to a few exchanges, my guess is that post-ICO market capitalization will be in excess of $40 million USD. It could easily reach near the top 100 and find $100 million USD in market capitalization. This could be something like an easy 4x to 8x.
Website: https://fabrictoken.io/token-sale/
Disclaimer:
I make no guarantees this token is legal in your local jurisdiction. I was not paid by FABRIC Token as of the date of writing this. This is not investment advice. All investments entail risk, do your own research. This article is for informational and commentary purposes only. If you act on the information provided in this article, you agree that all contributing parties to this blog will not be held responsible for your actions. Information is provided as the date of writing this article and may not be true.
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Thanks for the review, ive invested here before reading your post because it is a unique project
So my question here is: why no information on what this project actually aims at? what can this token be used for ?
The information you present in this article is only about the funding and token sale. To estimate the usefullness and thus longterm posible value of a token, what the project goals and function is, is what qounts. Isnt it?
Yes, its best if there is a limit on the presale, then there is a after presale interest in buying if the goal is reached with good margins.
Yeah, exactly. Fundamentally, I wouldn't care for what this project offers. But whether a project is good, is not what drives the ICO market. That other investors believe the project is good means they'll likely keep buying it when its on exchanges.
Most of the top 100 cryptocurrencies are fundamentally useless. When I compare the "project goal" here with the top 100, what they are offering is far more interesting than many things in the top 100. Yet, will the market value it because it's more interesting? Not necessarily.
So when dealing with an irrational market, it's better to gauge a token sale against how we think the market will perceive and trade the coin... not the fundamentals of the project itself. I do personally prefer projects where they have fundamental drivers and technology, like EOS. However, very few projects in crypto fall into this category. Last I counted there were 7 projects out of hundreds which had fundamental factors to them besides just the irrational crypto market at work. Things outside the fundamental category, have to be analyzed by how we think the market will trade them.
So what the project offers is supposedly easier smart contracting for ETH. Drag and drop smart contracting, which hopefully makes Ethereum easier to use for businesses, so there is less risk in doing smart contracts. Yet fundamentally, this is pointless because I wouldn't presume the market is going to trade it based on the actual usefulness of what is being offered here. Practically speaking, the project in my book is worth zero along with most all of cryptocurrency.
I stopped valuing cryptocurrency by practical use case situations for 99% of all projects out there. My favorite two examples are DigiByte and ReddCoin. Useless projects worth over 100 mil.
"....Last I counted there were 7 projects out of hundreds which had fundamental factors to them besides just the irrational crypto market at work". Two of them are EOS and STEEM i guess, sooo which ones are the others my man?? :)
Bitcoin, Ripple, Ethereum, Monero, Tether
OMG!!! wow! thats a shocker hahah.....ripple and tether, i didnt see that coming...., you left me thinking haha......why(?)
And if you watched any of my ICO Class 101 videos, this type of ICO falls into the "Hype" scenario. Meaning it is favored to sell when it spikes after the ICO trades on exchanges. Most ICO's fall into this category. These ICO's can be profitable, especially when there is a hard cap on funds raised.
But the profit is not made because they're wild success cases where people utilize the product, the projects are successes for investors because money flows into crypto investments irrationally, and some may very well flow into FABRIC driving the token prices higher, if it gets decent exchange adoption.
Interesting, so it falls into what @cryptovestor calls Proof of stupidity then. ICO that looks to get interest to gein value after launch. even if there isnt any actual value. So you get in on the ICO then sell when it launches i guess.
That is a great one you caught in the radar fantastic to see it :)
Actually it is nice tips thank you sir.
only in one day that's epic didn't knew about this ico
this ico looks really promising wonderful update thanks for sharing :)
Thanks for the information sir.
Great Project.Looking Forward For This Coin.Thanks For Sharing Your Valueble Information.Happy Steemit.Keep Posting.
its a hit in just one day that's kind of cool thing and one ico to invest in
Thanks for sharing.