Win or lose: What Happened to Projects After Crowdsale
The cryptocurrency market boomed in 2017: 875 startups and projects raised more than $6 billion, according to Icodata.io. These are impressive figures, aren’t they? Nevertheless, a successful ICO is only half of the battle. The project development plays an equally important role. So, what happened to the promising and expectable projects after crowdsale?
EOS ICO was the longest and the most large-scale. It started on 26th of June, 2017, it lasted for 341 days and ended only on June 1st, 2018. The startup raised $4 billion, and this record hasn’t been beaten so far! Right after token sale, the company issued the EOSIO wallet, launched EOSIO’s Dawn on the EOSIO mainnet, as well as created EOS Alliance. Moreover, China’s Center for Information and Industry Development put EOS on the first place in its project ranking. The venture dropped behind even Bitcoin! The EOS team continues to conquer new peaks. What will be the next? Time will tell.
The company conducted a token sale in July of 2017 and raised $232 million. The project team promised to launch a backbone net in August of 2017 but had to delay it until the next year due to internal conflicts and lawsuits. The struggle for power inside the team drew more attention than the project itself. As a result, the prices for project’s futures fell by 60% on BitMEX while Tezos’ derivatives dropped by 30% on HitBTC. Then, the company was accused of fraud, misappropriation of millions of dollars, as well as law violation. All these events injured Tezos’ reputation. Still, the project manages to be among top 20 projects on Coinmarketcap. But for how long?
The company’s crowdsale took place in spring of 2017, during which MobileGo received $53 million. MobileGo planned to disrupt the mobile games industry and allow users to earn on their own decentralized tournaments. However, their plans failed miserably. Almost nothing included in the roadmap was done because the team changed the vision of the project and split. Money collected during ICO vanished into thin air. The project is not officially closed, but its future is unclear.
This startup developing a cryptocurrency payment platform completed the token sale in November 2017 and raised $21 million. Over the year, the project team concluded several strategic partnerships with e-commerce storefront Jumpseller, Ethereum Classic Dev Team, Nexo, the world’s first instant crypto-backed loans platform, Sparkster building the fastest Decentralized Cloud for Smart Software. In June, Utrust announced that it had updated its roadmap and the project is ahead of the schedule. According to the team, the Mobile Wallet Beta Apps and APIs, as well as the ICO Escrow Beta System, would be delivered faster than expected. It’s cool but will the project be able to maintain its positions and move ahead?
This startup completed its ICO at the beginning of 2018. The Noah Project has an ambitious idea to build a city and a resort fully powered by blockchain and cryptocurrencies. It sounds fantastic but the venture is on the way to implement these plans into reality. Noah City is currently under construction in Horizon Manila, the future largest business district in the Philippines. Noah Resort will become a part of a magnificent Dakak Beach Resort, where nature and high-tech will meet each other to allow travelers to rest from urban fuss and gain new experiences there.
In general, the Noah Project is aimed to create an ecosystem for everyone who wants to unlimitedly deal with digital money and enjoy all the advantages provided by advanced technologies. Besides crypto city and resort, the Noah ecosystem includes a solution for fast and cheap international money transfers.
The Noah Project has already reached several milestones on its roadmap. The company has developed a Noah Wallet, cooperated with PayRemit, one of the largest payment gateways in the Philippines, as well as partnered with the Canadian processing platform CoinPayments that is working in more than 182 countries.
Noah Coin, the internal project token, is listed on 6 cryptocurrency exchanges such as HitBTC, Changelly, BTC-Alpha, Mercatox, Livecoin, and YoBit. The Noah team has already made considerable progress, and they’re not going to stop.
The prosperous or large ICO does not guarantee that the project will survive and go on. Internal discords, weak ideas, bad implementation, and other issues prevent the companies from developing and meeting the targets. Some lose, but the others move forward. Strong and adventurous projects such as EOS, Utrust, and Noah are able to win big in this battle.