How to judge an ICO?

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Joined
Mar 2018
From
Nottingham
Hello there! I've got a question for you here: How do you decide on whether to participate in an ICO or not? Based on what do you judge it? I was looking at Cultural Places ICO and was wondering weather to participate. I think it's not really that well known so I couln't find much info on the project. I read its an Austrian start-up and I must say I really like the idea of it but is looking at the website and whitepaper enough to judge? :nerd: Thanks for your advice!
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Hello there! I've got a question for you here: How do you decide on whether to participate in an ICO or not? Based on what do you judge it? I was looking at Cultural Places ICO and was wondering weather to participate. I think it's not really that well known so I couln't find much info on the project. I read its an Austrian start-up and I must say I really like the idea of it but is looking at the website and whitepaper enough to judge? :nerd: Thanks for your advice!
For any ICO you should always ask yourself a few key questions: 1) Does the solution they are proposing solve a legitimate problem in the industry? 2) Do they have competition with what they are trying to do, and if so, are they proposing a better solution than their competitor? 3) Do they have a credible and visible team (eg. social media presence)? 4) Do they have legitimate advisors? 5) Do they already have a working product (not a must but it helps)? 6) Do they already have significant financial backing (not a must but it helps)? 7) Do they have an active github repository (this is for open sourced projects)? 8) Are they making big promises that they likely can't guarantee? 9) Do they have a significant following online? (Some ideas are great but if there is no buzz, they likely won't go anywhere). 10) Do they have a logical whitepaper than looks like it was actually written by someone who knows what they are talking about? (There are plenty of great theories, but some whitepapers can't even become a reality because the idea is not workable in reality). These are some examples of things to look for, but of course not all. Like any investment, never invest more than you are willing to lose.
 
Joined
Mar 2018
From
Nottingham
For any ICO you should always ask yourself a few key questions: 1) Does the solution they are proposing solve a legitimate problem in the industry? 2) Do they have competition with what they are trying to do, and if so, are they proposing a better solution than their competitor? 3) Do they have a credible and visible team (eg. social media presence)? 4) Do they have legitimate advisors? 5) Do they already have a working product (not a must but it helps)? 6) Do they already have significant financial backing (not a must but it helps)? 7) Do they have an active github repository (this is for open sourced projects)? 8) Are they making big promises that they likely can't guarantee? 9) Do they have a significant following online? (Some ideas are great but if there is no buzz, they likely won't go anywhere). 10) Do they have a logical whitepaper than looks like it was actually written by someone who knows what they are talking about? (There are plenty of great theories, but some whitepapers can't even become a reality because the idea is not workable in reality). These are some examples of things to look for, but of course not all. Like any investment, never invest more than you are willing to lose.

Thanks so much, thats really helpful. Let me play this through with Cultural Places, the project I was looking into. I think they definitely target some problems in the industry, team looks professional and transparent, it's been created by Oroundo - already a player in the game, looks like it's working - they have partners including some major cultural places, whitepaper looks very good and professional. Looks like I'll be doing some more research into number 2, 4, 6, 7 & 9! On that now! In any case, thanks so much for your help, much appreciated!
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Thanks so much, thats really helpful. Let me play this through with Cultural Places, the project I was looking into. I think they definitely target some problems in the industry, team looks professional and transparent, it's been created by Oroundo - already a player in the game, looks like it's working - they have partners including some major cultural places, whitepaper looks very good and professional. Looks like I'll be doing some more research into number 2, 4, 6, 7 & 9! On that now! In any case, thanks so much for your help, much appreciated!
Anytime
 
Joined
Apr 2018
From
Singapore
Thanks so much, thats really helpful. Let me play this through with Cultural Places, the project I was looking into. I think they definitely target some problems in the industry, team looks professional and transparent, it's been created by Oroundo - already a player in the game, looks like it's working - they have partners including some major cultural places, whitepaper looks very good and professional. Looks like I'll be doing some more research into number 2, 4, 6, 7 & 9! On that now! In any case, thanks so much for your help, much appreciated!

Yeah one good example of a good project is PolicyPal Network- They are providing a legitimate solution to a problem, i.e. unbanked people not having adequate insurance, and providing insurance for crypto currency. Their team is pretty credible- the team is headed by val who is Forbes 30 under 30, with solid advisors such as Yiseul Cho, Shaun Djie and Prof David Lee. Their ICO was sold out in 38 seconds and raised 200 million. pretty impressive I'd say. Came across it while looking for insruance to protect my crypto assets. Check out their tele group if you're interested to get a glimpse of what a good project is about.
https://t.me/PolicyPalNetwork
 
Joined
Mar 2018
From
Nottingham
Yeah one good example of a good project is PolicyPal Network- They are providing a legitimate solution to a problem, i.e. unbanked people not having adequate insurance, and providing insurance for crypto currency. Their team is pretty credible- the team is headed by val who is Forbes 30 under 30, with solid advisors such as Yiseul Cho, Shaun Djie and Prof David Lee. Their ICO was sold out in 38 seconds and raised 200 million. pretty impressive I'd say. Came across it while looking for insruance to protect my crypto assets. Check out their tele group if you're interested to get a glimpse of what a good project is about.
https://t.me/PolicyPalNetwork

Oh brilliant, thanks! I'll definitely check it out. From what you said it sounds like quite a project - very impressed. Being quite a bit more experienced with ICOs than me, have you by any chance had a look at cultural places? Here is the link: https://www.culturalplaces.com/#home Any thoughts or advice there? Thanks so much :nerd:
 
Joined
Mar 2018
From
Nottingham
Good question. I suppose you judge the ICO based on the results of your research as V4Vendetta pointed out. If you've made sure all the important points are right, surely the country doesn't really matter. Although I must say I judge based on country too. I have a personal connection to Austria which is I suppose why I'm drawn to the cultural coin/Austrian start-ups in general. But good question, should you make a difference according to country?
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
I have another question, should I buy a token from our country (Vietnam) first or other countries, I don't have much information about international start-up companies, so where can I seek information for ICO?
Country in general shouldn’t matter, maybe excluding what Venezuela is currently trying to do with the Petro. Same rules apply, make sure it is legit and transparent. Ultimately it is the individuals involved in the project and not their country of origin.
 
Joined
Mar 2018
From
Nottingham
Country in general shouldn’t matter, maybe excluding what Venezuela is currently trying to do with the Petro. Same rules apply, make sure it is legit and transparent. Ultimately it is the individuals involved in the project and not their country of origin.

You are right, this is not the place for stereotypes. Although I must say that having a personal connection to a country can help you narrow down the number of projects to get involved in. After all, it's kind of also about the feel being right, isn't it? :)
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
You are right, this is not the place for stereotypes. Although I must say that having a personal connection to a country can help you narrow down the number of projects to get involved in. After all, it's kind of also about the feel being right, isn't it? :)
I always say, do your research. And if something is too good to be true or they are promising too much, it’s probably a scam.
 
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