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April 26, 2018, 11:35:07 AM |
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Although you've already mentioned them, I second Rentberry.com. Not only did they come into their token sale with a pre-existing platform, but their startup had been operating for years already previously. When looking at any other projects in the real estate space (ie. Bee) or 90% of other projects full stop, non of them have working products and I think this is why we've seen such high dissatisfaction rates among ICO participants over the past few months.
It's not just a case of the market generally contracting after the growth in 2017 - there are much too many vapourware projects, and people got far to comfortable with the idea that buying into a project with no pre-existing platform to speak of what so ever is completely normal and acceptable.
That's why the contrast with projects like Rentberry are so strong, and why I think you see a trend, where these established and trusted businesses tend to get high participation levels at ICO. Rentberry secured $30m from their token sale and are working now to follow their roadmap and release the next phase of their tech platform - full tokenisation and the release of their app in the coming months. Projects like Bee are competing with AirBNB for a start, had no product to begin with, and have been hacked for over $1million worth of Ether.
That's the difference between established projects and vapourware projects - it'd be great to see more tech creation and less marketing in this space!
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