Do advisors really matter?

[jack107]

What do you guys think about advisors and their roles in projects? Recently saw algebraix announce their advisors and they're not the typical blockchain advisors most projects have, but seem very strategic in both the blockchain world and traditional business world.

https://www.coinbureau.com/press-release/algebraix-welcomes-leaders-advisory-board/

How do you think projects should go about bringing on advisors?

[CryptoAlphaStar]

Advisors' role is very controversial, because a lot of ICOs abuse the advisor list. I can easily imagine a deal with some mercantile advisors who agree only to be listed on the site in exchange for some tokens.

Some advisors do a lot of work for the projects, others barelly show up.

John McAfee was listed as an advisor for Sether. A while after that, it turned out he charges $105,000 for promoting ICOs. Do you think he did any real advising and work for Sether? I don't.

[coinlocket$]

Depens it's really hard to understand the work they do in background, on some Ico for example you can never ear about them but they can bring over 50000 people on the project as investitors or as users after the project will born (Apps).

[topchiiy86]

Advisers really matter only if they're really interested in the project they support. So if they invested in a project then they won't just advertise a project they'll do everything for the project to reach success. But in most cases so called advisers just get some percentage of tokens, make few posts about the project in their social accounts and then dump the price when a token is listed on exchanges.

[bitcoinster21]

If the advisor is mature, and honest, then yes.

For example,

Have you ever heard of an ICO that gave the same price in Pre-sale and same price in main sale ?

Nugget's News guy was the advisor on this australian agriculture project and he advised the BlockGrain.io team to not do different pricings and be fair to all participants.

This is such a unique gesture of fairness. We need more advisors like him, and more CEO who want to be as fair as possible.

Their ICO has started recently by the way and you can register. Blockgrain.io

[jjbanks994]

I think they play a huge role. In algebraix's case. all of the advisors are key players to their expansion and credibility. Great roundup they pulled together

[nydiacaskey01]

Advisers matters in BTC transaction. They act as their security measure that what they are dealing with is legit. Some ICO will just sign up a known person to promote their project. It adds curiosity and attraction to other non-members.

[Wearegoodfrends]

Certainly. They are important for investors to understand how seriously the team takes their project. Often gain it is unclear whom)) Better when advisor experienced can suggest the team how to act in the market.

[nl247]

Why not? It is a project and they have the industrial experience to at least help guide the team in a way. However, I feel things like this are not usually taken serious in the ICO world as some just take the whole advisor thing as a joke. Mostly, it is not a bad idea having great and knowledgeable advisors attached to a project as that can speak some huge level of volume for the project based on how investors perceive the impact of the advisor.

[crampus]

I think that all projects should have consultants, they are not the first time working with the crypto-currency market, and they understand the structure of it

[qazgroup]

It is obvious that advisors are not either full time employees nor team members, they are just for advise if a certain issue arise in there area of expertise but nowadays big names are used as advisors just to boost confidence in the project and attract big funds.

[victory.lil]

A very good question, which I also began to worry about recently, I've looked at advisors before, but now it does not bother me at all, because I constantly see different people whom I do not know at all. Do you think this worries me?

[L1240erion]

I think it really depends on the project and also on the advisors/roles. In this case, these advisors will be very beneficial to the project. on a side note, this is a very interesting project

[mammoniter]

Advisors' role is very controversial, because a lot of ICOs abuse the advisor list. I can easily imagine a deal with some mercantile advisors who agree only to be listed on the site in exchange for some tokens.

Some advisors do a lot of work for the projects, others barelly show up.

John McAfee was listed as an advisor for Sether. A while after that, it turned out he charges $105,000 for promoting ICOs. Do you think he did any real advising and work for Sether? I don't.

I think if advisors were to be an legitimate expert related on the ICOs project and somehow has really the knowledge to impart to the team then I think it would really make sense but I agree with you most advisors are there just for the facade and title or just to make the ICO much more credible in the eyes of the target investors.

[catapult]

I always think that, every trader should find their own way by following the prices and the news. Of course sometimes you need advices, but I think you should always be careful about the advices about the next situations of the coins.

[xOdiumNostrumx]

I really never had an insight in how this dynamic works between the team and the advisors. In a lot o projects it seems that they are there just because of their names as they dont have any experience nor knowledge in the particular field.

[GrandBcn]

I think that basically it's just a marketing move. If some famous person writes about the project in social networks - the sale of ICO's coins is accelerated with the speed of sound.
If someone drops a word that project X is very promising, then the price on the stock exchange grows instantly. Therefore, unfortunately, the attraction of well-known advisors is an opportunity to advertise and spread the project more.
I haven't seen across projects advisors = real project participants, last 2 month.

[steplaza]

I also think they mostly represent names on a list just to promote...but in the end it gets down to the single project, they certainly can have a key role in guiding decisions...but it's hard to tell from the outside

[gazilla]

I think advisors that are good are beneficial to the project, but from the outside perspective it is hard to tell how beneficial they will be to a project. I mean you have a number of known names that are hired by many projects, then you have just a random guy called advisor. It is hard to say.

[slaman29]

Advisory is always good for start ups, but the way they are being used in crypto ICOs are very different, they're more like marketing tactics. I mean, if you have 1 angel investor advising 10 or more projects, do you really think they're in it for long? They take their fee and move on. I remember Vitalik was supposedly advisor to Humaniq when they launched but now more than a year has gone and never hear a word from him about it and the project is going so far away from original hype.