Why do you need a hardcap of $50m?
It seems very unlikely that this could be reached.
Even the softcap is still far out of reach.
What's gonna happen if you guys did not reach the $15m softcap?
Hi. We'll deliver basic functionality if we raise soft cap (or even 85% of it) and there's going to be much more depending on how much we raise.
Judging from the previous reproaches, it's easier to copy and paste the corresponding passage from the White Paper here, so pardon for the lengthy quote below:
8.2 Projected expenses
$25M— Massive expansion including engagement of the largest hosting providers
$35M— Integration with third-party cryptocurrency services
— Elaborating customer software for mobile platforms (Android, iOS)
— Creating a fund to finance intense promotion and active engagement of new
participants
— Signing contracts with the largest record labels and film studios as well
as independent artists so that audio and video content is delivered to Market.space
customers at lower prices
— Developing a subsystem for interaction with the record companies and film
studios (statistics and analysis system)
— An interface for artists/performers to join thematic groups depending on the
content, which would facilitate the search for customers and augment the target
audience for artists
— Engagement of music and film critics (for independent artists)
— Legal support
— Operational costs (for instance, management)
$50M— Investment fund for integration of third party services and/or projects into Market.
space system
— Integration of the major equipment vendors of “smart city” intellectual
services into Market.space. Priority is given to public safety (e. g. video
surveillance), financial transactions, tourism, real estate.
If we don't reach even 85% of soft cap, we're going to issue refunds or extend the token sale period - if the Community agrees.
We set a very tight timeline for the fundraising at first, and there was no pre-sale, so we have to make up for it now.
In this article you may find more details on the new strategy we've decided to follow when we saw the initial one doesn't work:
https://medium.com/@Market_space_/four-weeks-of-the-ico-passed-what-now-76bf17d674d5To put it short, we now focus on working with private investors and funds, and the first big deal ($4M) has been recently finalized. We've got more under way
