Recently, I wrote about the ICO market reach $1 Billion in value and posed the question whether or not we were in a bubble within this space. Yesterday I saw an Ad for one on Instagram.. I think the bubble is here.
ICO Advertisements on Social Media Networks
Advertisements for startups and various web-based services is nothing new and is one of the primary ways companies market to their user base. However now there seems to be a newer trend emerging - advertising by startups for their up-and-coming Initial Coin Offering.
In Comes Indorse
Indorse is a decentralized professional network powered by blockchain technology where you own your data and get paid for your contribution.
Features Include
- A decentralized professional network powered by ethereum technology
- A reliable channel to get your skills endorsed and showcase them
- A network that lets you own your data and monetize your activity
With participation in the network, members are able to earn Indorse Rewards for sharing more about themselves and for endorsing the claims of others. Advertisers in turn purchase space on the platform, which creates revenue for the platform. This revenue, along with other revenue streams, is shared with the members who created the content. In a nutshell, members are finally able to share in the profits made by the platform due to their data, instead of watching passively as the revenue goes to companies holding their data.
My Take
I am not saying that Indorse isn't a good idea but I am a little concerned with the pace at which ICOs are moving. Time and time again, and every other day - I see new companies doing ICOs for products that have not even been in alpha yet (Vaporware). I am however, not a proponent of regulation in this space and believe that the investor should be responsible about the companies they invest in, by doing their own due-diligence.
As the space grows, I wish to see investors be more stringent about the companies they throw their money at. I think with the huge correction in the market and as more ICOs go totally bust, this will be the natural progression.
Others Feedback
People's initial responses to the Instagram ad has been pretty negative.
Questions/Feedback
- Do you think we have reached "bubble" territory with ICOs?
- What do you think about Indorse?
- What ICOs do you think still brings value to the marketplace?
Yeah You are right! That is sooooooo annoying. Thanks for sharing :)
Very annoying Chris..smh I am almost turned off to even the thought of researching any new ICOs.
Yes I agree there do seem to be alot. I suppose they are all trying to find their own niche before another ICO has the same idea. I would think that every thing you find in normal companies wants to be the first to enter on the blockchain. Thanks for the post
Very True! lol
some people have too much money my friend!