Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token

  • Eric Eissler
    🕵️‍ ICO Watch

    A platform that offers you rewards for listening to your music on a consolidated platform, but is not listed on CoinMarketCap nor exchanges is very detrimental

Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token
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A music-playing app that helps you earn crypto rewards as you listen to music. Why didn’t I hear of this earlier, is what you are all probably asking yourselves. The app rewards users for their time streaming music, listening to ad impressions and, of course, sharing the personal data that is collected in the app. The protocol records transactions on the Blockchain that reflect a user’s contribution to the network through consumption, curation or creation of content. Additionally, a smart contract distributes rewards in response to these contributions. Launching initially on the Current platform, the protocol will be open for developers and third-party providers to help expand the ecosystem.

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Current has raised some $36 mln by Feb. 7, 2018 in their ICO. CoinMarketCap, in a very rare occurrence, does not have CRNT listed. Therefore, it is very hard to provide any feedback or analysis on the token price. At this juncture, it is not even sure on which exchanges the token is available for purchase on.

Who is behind this creation?

Well, it is not apparent on the website who is doing what. Only with some further in-depth research U.Today was able to uncover who is on the team behind Current.

Dan Novaes- Co-Founder, CEO

Novaes is the Co-Founder and CEO of Current Media. An incentive-based media streaming ecosystem. He started his first company at the age of 15 with $1,000 and bootstrapped it up to over $2 mln/year by his freshman year in college.

Nick McEvily- Co-Founder, CPO

McEvily plays a crucial role in start-ups, to assist in creating brands and go-to-market strategies. Whether it is design, development or business strategy, McEvily has managed and directed digital products at all stages of their lifecycle- from concept to market.

Kiran Panesar- Co-Founder, CTO

Panesar is a software developer and engineering leader based in Chicago. He has a passion for startups and building large-scale technical products.

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What’s the app? What’s the reward?

Current provides a more efficient discovery and search experience to over 160,000 users by consolidating popular media networks into a single place. Users will be compensated for streaming content from the systems that they love such as SoundCloud, Spotify, YouTube, etc. through the release of CRNC. Every individuals’ behavioral data points surrounding the topics, types, and times played across different networks will be combined to serve up better recommendations compared to any single system.

Final thoughts

Current seems like a great platform, but it is a bit strange that they are not listed on CoinMarketCap. While looking around the website, it is missing a lot of information, such as, who is on the team, what is the roadmap, etc. The app appears to work, based on other reviews. But it was disconcerting that they did not respond to emails asking for more information and interviews.

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The Top Rate ICO Industries in 2018

  • Stavros Georgiadis
    📊‍ Infographics

    Investing in ICOs requires due diligence and analysis of potential risks and returns.

The Top Rate ICO Industries in 2018
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Investing in ICOs requires due diligence and analysis of potential risks and returns. CoinDesk is its article named “The Seven Pillars of ICO Investing” has listed the most important pillars to consider before deciding to invest or not on any specific ICO project.

These 7 Pillars are the following:

  1. Team
  2. Idea
  3. Execution
  4. Legal/Regulatory Framework
  5. Tokenization
  6. ICO Structure
  7. Price Divers

What is interesting and should not be surprising though in the ICO investing is the fact that business models and marketing, promotional channels differ significantly in the amount of fundraising, as some business categories have in general twice the median funding compared to the smaller ones. The following statistic may be useful to investors as it represents the ICO categories with highest median funding. A higher amount of funding may be justified by future business prospects about what investors believe are the most promising trends that could be deliver desired returns on investments given the risks taken.

Categories with highest median funding in 2018:

  1. Blockchain Infrastructure
  2. Internet & Telecommunications
  3. Computing & Data Storage
  4. Data Analytics
  5. Asset Management
  6. Legal Services
  7. Social Media & Communication
  8. Supply & Logistics
  9. IT
  10. Identity & Reputation

These business categories are referenced not in random order, but from highest to lowest order of median funds raised. The Blockchain Infrastructure category has the highest median funds raised at $ 7,012,289, while the Identity & Reputation category has the lowest median funds raised in 2018 at $ 3,750,000. The first and last business categories have a significant difference between them in terms of median funds raised as the Blockchain Infrastructure category is 87% larger than the Identity & Reputation category.

Another key interesting statistic in ICO investing is the geographical distribution of projects fundraising in the third quarter of 2018. The following infographic shows that there are again very large differences within continents. Europe and specifically Russia with $ 182.9 Million was the largest market, Israel with $19.6 Million was the smallest market, while South Korea witnessed a significant drop in fundraising as according to ICORating, in Q3 2018, 17 projects with South Korean origins raised USD 68 million, compared with 16 projects and USD 301 million in Q2 2018.

Geographical distribution of projects based on origin of the project team, Q3 2018

Geographical distribution of projects based on origin of the project team, Q3 2018

Country of origin means a country in which more than 50% of team members were living at the time of an ICO.

Another point worth mentioning is that in Q3 2018 USA had the largest number of projects compared to all mentioned countries in the above infographic, still Russia with a smaller number of projects, 63 was as mentioned the largest market.

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