Our statement regarding "suspicious status" of Creativechain ICO at
ICOindex.com We have been contacted by Creativechain team members with the concern of being listed in "suspicious" category at our website
ICOindex.com.
Projects in the suspicious category at
ICOindex.com did not provide enough information to be listed in the main category or the ICOindex team has found severe flaws. We always try to state the concrete reasons why we consider the project to be suspicious.
In the case of Creativechain we marked Creativechain as suspicious because at the beginning of ICO there was very little information about the project team available online. This information was added later to their official website.
Another suspicious thing was that Creativechain ICO has set the minimum amount of money raised to 5 Bitcoins. How is the team going to develop the platform with such a low budget? So far we have not seen any document regarding funds allocation and budget planning for the project. (At the time of writing 21 bitcoins have been raised)
Conclusion:
We do not consider this ICO to be a scam and we do not want to create FUD. We actually like the idea of Creativechain, and we hope it becomes a successful project if the community of people will be willing to work hard on the project with very little funding.
More info can be found here
http://icoindex.com/profile/creativechain-creaICOindex enables you to find all Initial Coin Offerings. We are aiming to make ICOs transparent, easy to understand and available for everyone.
We like your initiative and hope that you will do well and your project improves in the future to become a reference website.
We would like to clarify your doubts:
1- What you say about our team is incorrect. The information about our team has always been public from the first day and there have always been links to our LinkedIn social profiles. We did not add them later, they are from the very first day. That can be confirmed by anyone.
2- Maybe you are used to following ICOs made by corporate projects, specialists in selling smoke. Creativechain is a serious project, formed by professionals from the cultural sector, multimedia development and blockchain with many years of experience that have come together to develop this idea.
Creativechain is a project financed so far with private money and with a lot of love and time on the part of the team members. We use the ICO as a communication strategy, to create community, to distribute a lot of starting money and to give a financial boost to the platform.
Therefore, the fact that we put 5 BTC minimum is something symbolic to start the mainnet (that is already in testnet phase for weeks).
3- The team members believe in the potential of the project and also in the value of its currency, This is why we accept to get paid for our work and dedication in CREA. The project will be the same with 24 BTC that with 500 BTC. We want to create a community of artists and developers who trust in the project and contribute knowledge and development as in any free software community.
4- Are you a specialist in the development of multimedia platforms? Do you know what does it cost to create such a platform? You don’t seem to be an expert when you talk about it.
As you may know, the blockchain ecosystem wasn’t born of big speculative investments of funds…The most solid blockchain projects are those that have been built through more open and collaborative communities around them.
5- In your website you suggest us to refund the raised money to the crowdfunders. These words are disrespectful to the project and towards the crowdfunders. As you may know, there are still 6 days to complete the ICO. How can you make that statement without seeing the final result of the ICO and our work? This ICO has a crypto auction format. That means that the funds are distributed in percentage depending on the investment made by each crowdfunder.
We know that the last days are very important in an ICO that uses this format. I guess if you were an expert in the cryptocurrency sector you’d know it.
CONCLUSIONYou have not read the entire project, nor are you continuously and professionally following its progress. At this moment , that the ICO hasn’t finished yet, we are proud to have 70% of the product done.
Plus, you have not consulted with the team about your doubts, as professional ICO list websites do. It seems that you have created a website that aims to analyze ICOs in a professional way but, honestly, we don’t think you are doing so in practice. You are using some evaluation criteria that are not explained anywhere on your website and that don’t give much confidence.
Also, you require transparency in the projects and show off professionalism but on your website does not clearly appear who is the author or authors of icoindex. com nor any linkedin document or link that proves your professionalism in the Financial analysis of blockchain projects. Mainly for this reason your web does not give confidence.
Anyone who understands about ICOs will be able to see that the analyzes you make are very superficial.
I recommend you to wait until you have a little more experience and show more professionalism when analyzing projects before offering professional advice, specially if you are not showing who you are and what are the credentials of your company.
Thank you.
