Hi Friends,
This is Satish from India.
Today I would like to make review on FundyourselfNow ICO
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As of now, crowdfunding through ICOs is the hottest and innovative move in capital funding market. In 2016 itself 200 million dollars has been raised through ICOs. In the last 7 months in 2017 around 1 billion dollars has been raised and it is expected to increase at a rate of 26% until 2020.
Problems in present crowdfunding and ICOs
Capital Funding is the main milestone to achieve by new startups or Project Creators. They are always try to put lot of efforts to reach large backers and mass community to know about their Project ideas and creating interest on Project. But to reach mass community the project creators need lot of support like expertise, marketing compaign, legal support and etc.., It requires a little pre- funding and support from community. This is a difficult task for the project creators to get from traditional crowdfunding model.
At present major market players in traditional crowdfunding are indigegogo, Kickstarter. These platforms are charging huge amount for listing 5%, Transfer fees (3-5%), Platform cost 9% of total fund raised. Due to this project creators are loosing large amounts of funds for raising itself.
Currently even for backers or supporters who funded for new projects are not getting any rights or control over the contribution after funds are raised. This is a Biggest concern for backers right now.
Only technical people are able to create ICO on their own and are able seek funds from crowd. And Non Technical people are facing trouble to funding through ICO.
To counterpart all these problems FundyourselfNow project is coming into crowdfunding industry to reinvent the crowdfunding vehicle by using emerging technologies like Blockchain technology and Virtual currencies.
Fundyourselfnow is a crowdfunding platform for Project Creators to seek their funds for project development, marketing and expertise. Project creators can seek funding from the community of FundyourselfNow itself. Not only this they can get help or support from community like expertise, legal, marketing, translations in different launguages of websites and inreturn supporters or backers will get Bounty credits and this will be exchanged with project tokens which are going to be sold on crowdsale.
This platform charges lowest fees for platform around 4% of fund raised compare to 9% is charging by its competitors in market. And there will not be any transfer fee, Initially listing fee may be reduced to get more projects into the platform.
Importantly, This platform want to create voting tokens in proportionate to funding tokens and those tokens will be allocated to backers based on their holdings. The voting tokens can be used to delay the fund distribution to project creators if the milestones are not achieved. Then the remaining funds will be distributed to backers and this will partially eliminating the risk of loosing funds. And this all process will be done automatically with the help of Smart contracts in Ethereum mainnet, which will securely stores and functional the data in decentralised manner. There is no need for authority to involve in these issues.
Fundyourselfnow Platform want to introduce FYN token as a platform currency.
Usage and Benefits of FYN token
FYN token holders are able to participate in Pre funding of new projects which are listed in FYN platform before available to public crowdsale.
Community who contributed in FYN tokens to new projects in its platform will get additional satakes compared to contributers who contributes in other virtual currencies.
The team from this project will create a fund after crowdfunding with buying back FYN tokens from open market, And with these tokens the team will invest wisely in new projects which are listed in its platform for FYN token growth.
The 70% of profits from platform will be exclusively used to buyback FYN tokens, which will improve the token value exponentially due to its limited supply.
Projects listed on the platform expected to accept 20% of funds in FYN tokens. The project tokens are bought with other currencies will be distributed initially and project tokens which are bought with FYN tokens will be locked up for certain time and this will reduce the open market supply and it boosts the FYN price. It is beneficial for both project creators and FYN token holders.
Apart from all this, The platform want to create web wallet for easy User interface and to reach large community and it also introduce many other features like Social rating and review and others in near future.
The Roadmap for the Project
The Team having lots of experience in Blockchain technology and software development and they are having high consulting support.
The Crowdsale details
The sale is already started and it will end on 31st July at 17:00 UTC +8.
1 ETH = 100 FYN
Minimum goal is 1.5 million dollars
To contribute in crowdsale visit : https://www.fundyourselfnow.com
To know more about project, Download whitepaper from https://www.fundyourselfnow.com
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile
Bitcointalk profile name : Satish147
Any comments on ICO invited
Subscribed.
Hi, we are planning new ICO for Ai and data-science startup - GraphGrail Ai.
If you are interested, check please our announcement post, we have done $5000, you can check wallet. 30% bonus:
https://steemit.com/blockchain/@gromozeka/pre-sale-usd5000-done-graphgrail-ai-tokens-presale-you-can-buy-tokens-now-1-day-left
Interesting article. Interesting to see I'm not the only one that is thinking about this. I've been asking myself. How many people really do a proper background check before seriously investing in an ICO? Does anyone know about: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market.