Without mass adoption crypto will not get to mainstream and companies, which are there to bring new people to the crypto and ICO arena, are the ones worth their weight in gold.
One such a company was Electroneum, which promised to bring it’s ETN coin to the masses through well hyped marketing outreach and focusing on mining via smartphones. The buyers who bought ETN saw both end of the spectrum, those who bought early won and those who bought when it was 18 cents saw their earnings almost wiped out completely. They made lot of noise but were slow on getting issues sorted fast enough. Marketing hype is one thing but if you don’t have proper strategy to deliver on promises, it won’t be long before even your most loyal users leave you in the dust.
Some members think Electroneum is highly undervalued at current prices but it is what it is. One of the main issues is the fact that they are one of the only coins with the kind of user-base they have, which is finding it extremely hard to get listed on the major exchanges.
The newly launched beta-version of the Electroneum mobile payment app contributed to around 31% increase in price but nowhere close to what the current holders need to even make their money back.
They still deserve a serious pat on the back for bringing lots of new users to ICO world. Anyone who can bring new users to the industry deserve a badge of honer. One such a ICO is Kidbizo.io. They are creating a platform to create young bosses. They plan to teach entrepreneurship to kids as young as six years old.
The concept of teaching kids about “creation” is nothing new and experts who believe schooling system was built to produce workers rather than bosses, have been campaigning about it for years.
“Not all children are going to be an entrepreneur but it is not even a question, that every kid can sure benefit from learning the creation skill-set. Entrepreneurship encompasses a lifestyle and active thinking, not just business. When you learn to see opportunities and have the knowledge and the mindset to take advantage of them, the application of it can be beneficial at school, at home and in business”. says, Rocky Mirza the co-founder of of Kidbizo.
It’s logical, children who start to learn any skill early; will have advantage over others, who waited until later. The real story here is how the ICO is taking place, which is very interesting.
They allow you to grab $5,000 worth of tokens without paying anything. How, because they are creating the worlds first Initial Coin Options rather than initial coin options.
Kidbizo.io is doing an ICO in a totally different way. In a traditional ICO, if you purchase $10,000 worth of tokens at a private sale, you would actually have to pay for them up front. You will wait until all phases of ICO are complete and the tokens have been listed on the exchanges before you can sell them. When the tokens have been listed and the price moves down, you will lose money – but if the price moves up you will make money.
The difference between traditional ICO and KidBizo ICO from their site:
“Instead of initial coin offerings, we are doing “initial coin options”.
1. You grab the options without parting with your money.
2. You wait until our tokens get listed on the exchanges
3. You still don’t part with the money until price at least doubles in value. When it does at least double in value, you pay for your options. You are not blocking your money while the ICO is running for few months and you are protecting your downside by 100%.”
They do have a real chance of bringing new people into the ICO industry since those grabbing the initial $5,000 worth of token options have nothing to lose. An international reach is of course critical for ICOs, and new entrants like Electroneum and Kidbizo who actually bring new participants to increase the size of the industry deserve the support.