Bitcoin Forum

Hello All,

Please leave a comment describing why would or wouldnt you.

We are a real company, we are working on a new project idea. We need funds to make the idea possible, so we are considering creating a token/coin and crowdfund it with crypto.

The idea is unique, has international reach, and we are positive we can make it possible because we have the know-how acquired with over 30 years of experience in the field.

To prove our legitimacy we would be fully transparent, revealing ourselves, our company (28 yrs of business), and the business plan.

One concern is that our project has nothing to do with decentralisation and cryptography. Do you guys think this matters?

We want to try a cryptofund because we find exciting the idea of creating a token that represents and values our project. The rewards can be a lot more and way more creative than just issuing a campaign on kickstarter where the contributors have nothing to gain in the end.

We are looking for feedback on this so please feel free to express your opinion.

Costas90

Sure if the idea is good and you reward the investors. There are already many assets in nxt asset exchange that aren't related with crypto, the problem is that there are many scams also, if you want to be fully transparent and ideas are reasonables, you will find investors.
Try to explain your idea in https://nxtforum.org/asset-exchange-general/ for example and you will get feedback :)

Yep....NXT is designed from the ground up to support (non-crypto) business applications.
We have indeed seen a few scammers, but there are also a lot of good legitimate projects using the Assset Exchange:
http://coinmarketcap.com/assets/

If you like, drop me a PM, I can catch you on Skype and we can discuss how your project could work out using NXT.
BTW, NXT has just launched the Monetary System, which allows the issuance of subsidiary currencies running on NXT's blockchain:
https://nxtforum.org/monetary-system/

The MS isn't as mature as AE, but is working well so far.

It depend - voted for maybe. I wont mind if it is not decentralised. However, it must be accessible to everyone. Which mean, it dont require our personal information such as phone number. Would like to see more information on the project you and your company is working on.

Interesting Project......... Would like to get more information.

The NXT AE was actually the first thing I researched in regards to this. I really like what the NXT community has built until now. I think its from the best coins around and thats why I hold a few assets. I can also see that the distribution of NXT holders is a bit unfair..and I could reach a bigger audience with BTC. The developers we are talking with would have no problem receiving BTC as a payment, for this reason I think it would be better if I received BTC straight away.

These are the main reasons I am sceptical about using the NXT platform.


We will be using a freemium model. We would give free access to 70-90% of the app and charge a monthly amount to users that need more advanced features. With this kind of model we could promise our asset holders that we would use a percentage of the monthly profits to buy back into the asset. This way people have a reason to hold long term also.

I will start working on a presentation that explains everything.


Yes more information will come. Thanks for the interest.

bump

I agree with you. At everything. Please answer me this. Why does my project have to be a scam also? Without knowing anything about me, my company, and more importantly my project.

A freemium business model is used by the top companies in the world. e.g. Google. You offer 90% of your services for free and charge for the 10%. Because a few scammers used the term it shouldnt mean that the model is used by scammers only...

I have created this thread to find what are the concerns of the community and find a way to solve them to make the crowdfund a success.

I want to avoid using extra layers of coins like NXT because I dont want to face the same problems that MaidSafe has faced...

As for the escrow or the multisig account, I would have to find a person that the community trusts right? I dont know who that person is but I will see what I can do. Any recommendations?

Crowdfunding seems to be an amazing crypto application...please dont call it a trick.

I like this idea. I have actually been thinking of doing something very similar to this for a while now. I think this may be the way that crypto will advance. There would have to be a way to track investments so dividends could be paid. Could work like a crypto stock.  The idea of it would actually allow the coin to grow as the company grows. this type of concept could be the future. :)

Why do you want to crowdfund it with crypto in the first place? Bitcoin price is not very stable atm and it could be another risk for your project.

Thats what we would like to do! From what we find until now it is difficult to do this with legal certainty. It will be really costly to make sure we dont face any legal troubles because if for example there are crowdsale participants from 10 countries, I would have to check on the legislation of all countries. And if you will have participants from the US you could face troubles with the SEC. Thats what I found until now.

This is why if we go forward with this, we would stay away from describing the crowdsale as equity or something similar that can set the alarms and consider our coin as a security. Getting our company in legal troubles with different governments is the last thing we need right now.


I am not expert in crypto currencies but I understand enought to know that this is the future. Its cost effective and efficient. ABout the bitcoin price I agree with you, its unstable. We would have to see how we would deal with this. We are in discussion with our developers for them to accept Bitcoin via BitPay maybe.