Unlocking the potential of ICOs

ideaology (31)in #ico • 4 years ago

Since the first wave of successful ICOs, and following their initial extremely positive effects on the crypto market up until 2017 and the beginning of 2018, the conditions for new ICO startups have been declining.
Why this happened, and is the situation changing at the moment, are questions that I will try to answer in this article. I talk to many experts and advisors, read research and policy papers, and it seems one of the main questions is — how did the ICOs go from the most potent idea in the Blockchain’s roster, to a less trusted, and even risky investment method it is perceived to be in recent years?

The answer to this question, put quite simply, is that trust in the ICO model has diminished mostly because of people who tried and succeeded in abusing the initial hype and success of the great ICO projects, which generated unprecedented trust and interest of high profile investors, and regular crypto enthusiasts, alike. Unfortunately, some of these new projects went into the ICO stage without even a prototype of the product, and some even with no intention of having a product whatsoever, or even any application of the Blockchain technology in real life situations. Thus, they only intended to use the ICO system to pump the value of their “idea” and then quickly sell their share of the tokens when it reaches a high value for a quick profit, leaving the investors in the aftermath of a scam ICO project. This has inevitably led to a significant decrease in the trust and reputation of future ICO projects, even the really good ones with tremendous potential.

How, if at all, is the pedigree of ICOs changing at the moment, and what does the future hold?

Today, we are looking at a different market compared to even 3 months ago, let alone a couple of years ago when the ICO mistrust was at its peak. The market seems to be getting favorable for new ICO startups again, there are more chances of getting investments and gaining attention from investors and collaborators. It’s not, of course, at the same level it was at in the early days of ICOs, but the conditions are again improving mostly because the investors have learned they have to analyze the project’s groundwork before jumping into an ICO investment. High profile investors, and even enthusiast who just want to find potential projects to support and be involved in, are doing their research, communicating with the developing teams of the projects they are interested in, making sure these are not scams or unfinished products with low potential just looking for funds with no clear idea of how to go forward.

Another good sign for the ICOs is the current stability of the crypto market and currencies. Even during this turbulent period of the pandemic, after the first wave of uncertainty, the crypto market is possibly more stable than ever. More and more people are turning to Bitcoin, Ether and other currencies to keep their savings, and to invest in.

They are realising that no other investment structure in the world allows that kind of equality and freedom. So it’s very important that we continue to develop the ICO system by improving security and anti-fraud procedures, so we can provide a fair investing platform for the people whilst protecting their hard-earned money.

#Ideaology #ICO

There are several amazing new projects coming into the ICO stage soon, with real potential and an authentic and practical use for their upcoming token and product. One of these is Ideaology, a project I have personally founded and am involved in.

And if you’re asking what is this idea and product which will be so well applied to the decentralised Blockchain tech, but also have real world value which everyone can use and profit from, here’s the short answer:

Ideaology is a platform connecting a community of future business partners.

This platform will connect all the likely associates of a successful project, including an innovator (person with the brilliant idea), a team of professionals ready to give their best to realise this envisioned idea and the investors who will be able to track all the potential project ideas on the platform and choose the ones they want to support. All this will be done in a free, decentralised environment, with fluidity in terms of what part of the community any participant represents, meaning a freelance designer, for example, will be able to use their accumulated tokens to be also an investor on a project.
Blockchain was invented for systems like this one, and the crypto world is aching for such “real life” applications, which will give true meaning to the decentralised economy it represents. From people, to people, no middleman, no corporations involved, minimal possible fees for transactions and a mutually profitable model of producing new solutions, projects, ideas…

Obviously, I can only speak for myself and everyone at IDEAOLOGY, but I trust that the public will look at my track record and believe me when I say that we are real and we are here to stay.