In our previous posts, we looked at various problems that have negatively impacted the blockchain community. Between the inexperienced CEOs, scammers, money-hungry investors, and impractical projects, it’s not hard to see why so many blockchain projects fail before they really take off.
If blockchain technology is ever going to receive mainstream support, there first needs to be a clean break from the lawless, cowboy image that’s been associated with cryptocurrency since its inception. Unfortunately, this is easier said than done. Many of the problems which plague blockchain start-ups have become entrenched in the early days practices of the industry.
- Appealing to high-risk investors, not people interested in the technology.
- Too much focus on maximizing profits, not enough attention to building a loyal following.
- Spending more time hyping projects than actually delivering on promises.
To solve these problems and increase legitimacy in blockchain projects, we’re proposing a new solution: the Distributed ICO. By addressing these issues in the early stages of a project’s lifespan, we can reduce the obstacles standing in the way between blockchain technology and mainstream adoption.
How does the Distributed ICO work?
The Distributed ICO seeks to keep blockchain projects on the right course, from their earliest stages all the way to their public release — and beyond. It does this by making sure that the interests of the project leaders are aligned with the interests of the investors at all times. That way, there’s no confusion about which direction the project should take.
Here’s what makes the Distributed ICO different from traditional ICOs:
- Project funding is based on the resources a project needs to reach the end of their roadmap. No more inexperienced CEOs asking to raise tens of millions of dollars to launch a yet-to-be-defined, might-happen platform.
- Funding plans are divided and sub-divided into periods and rounds. During this time, there are only a specific number of tokens available.
- Projects receive funding in installments that materialize if – and only if – they keep their promises with investors.
- Token holders are allowed to vote on the direction of a project at the end of each round.
Ultimately, the Distributed ICO helps keep developers, executives and investors on the same page throughout the life cycle of the project. What’s more, it requires additional organization and collaboration between the blockchain start-up and their investors. As a result, this helps to limit scope creep and reckless mismanagement of resources.
The end result is an investment plan and project roadmap implemented within a smart contract that increases transparency from start to finish, while eliminating the likelihood of investors falling victim to opportunistic scammers.
In other words, the Distributed ICO brings the project management strategies of enterprise-level organizations into the realm of blockchain start-ups. And by doing that, it legitimizes blockchain technology and makes it a more attractive option for traditional investors.
Want to learn more about Distributed ICOs? Or maybe you’re interested in learning how to run an effective marketing campaign for your blockchain start-up? ICO Success can help.
Stay tuned for more in-depth articles explaining just how Distributed ICOs work!
Building Your Nest Egg Brick By Brick: Are Micro-Investments Here to Stay?
No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?
That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate.
Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day.
However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:
With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:
What is Micro-Investing
Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…