Since the first ICO in 2013, the ICO funding model has surpassed early-stage venture capital and shows no signs of slowing down. Cryptstart marries the opportunities that investing in ICOs present with companies’ need to reach their perfect audience.
Why a Crowdfunding Platform
If you’re on Facebook and have the word ‘cryptocurrency’ stored anywhere in your online data profile, you’re more than likely inundated with ICO ads. For both investors and the companies, matching up is neither intuitive nor easy. Retargeted ads are as good as it gets unless investors go on personal recommendations.
Finding good projects can be hit-or-miss, and require hours worth of research, coupled with a heavy reliance on your intuition about the viability and future success of said project.
Startups also have their work cut out for them. There’s a big reliance on getting the word out via niche sites as Github and Reddit, and this doesn’t allow for easy access to everyday investors who are not active on the more technical sites.
In the same way that Kickstarter has enabled startups to match with investors who would never have otherwise invested in projects – tech and otherwise – so, too, will Cryptstart level out the playing field in the blockchain space.
Introducing Cryptstart, Where ICOs Meet Investors
Samuel Hung, Cryptstart’s founder, believes that decentralization is key to innovation and progress. To that end, Cryptstart is building a community. It offers startups the ability to launch an ICO on a decentralized platform that fosters accessibility to investors keen on buying into blockchain projects. Cryptstart also provides companies with the necessary tools to improve their project output and flow, such as project templates and promotional campaigns.
Pledges will be bitcoin or ethereum-based, and founders have the option to launch a full-scale ICO or offer more traditional rewards following first-gen crowdfunding models, such as rewards or discounts. The site’s utility token, CST, will be used to initiate projects on the platform. As a site-employed access key, it’s a utility token and not a security.
Thanks to Cryptstart’s open-borders policy, anyone with a valid ID and an active bank account can launch a project, but its beauty will lie in the crowdfunding social proof that will build trust and ease the communication of value. According to Hung:
“We are looking to build a vibrant and self-regulating community of creative individuals robust enough to accelerate decentralization, not just in the tech industry, but in all sectors of our society.”
Crypstart’s roadmap has more details.
The service is set to launch in March 2018. The company’s whitepaper has more details.