IUNGO is a Lithuanian company that is a blockchain token for global Wi-Fi. They are what many would refer to as a cyrptocurrency. Recently they raised 23 million USD to continue to execute their roadmap. They claim that they will be the first decentralized global Wi-Fi network.
The CEO and co-founder is Lithuanian Ricardas Bernotavicius. They currently have a team of 11 people which includes Dylan Sharkey who previously was an executive with Linkedin as head of sales solutions for the Middle East and North Africa. He currently lives in Dubai with his wife.
Recently, IUNGO held what is known in the cryptocurrency world as an ICO - Initial Coin Offering. During this offering, companies will normally have a presale where investors are given a bonus for purchasing tokens and often at a lower price that will be offered to the end of sale token purchasers. IUNGO was not different in this regard and the last part of the ICO saw people pay approximately 1.20 USD for a token. In effect, an ICO is what one might call a private placement in a publicly traded company.
When this token listed on the cyrptocurrency exchange known as Kucoin, the ING symbol was used for IUNGO tokens. ING rapidly fell to trading as low as .18 cents USD. It currently trades at .23 cents USD. Often cyrptocurrencies will appreciate significantly once listed on an exchange but ING did not. Many investors of ING tokens have been exceptionally disappointed to see their investments in IUNGO sink to a value that is about 15% of what many had invested near the end of the ICO.
In the cryptocurrency world, one has often seen coins or tokens increase 1000% or significantly higher on an exchange listing or shortly after. However, for ING to ever appreciate much beyond what it currently trades at, it will need to show that it can deliver on it's plans to bring a global Wi-Fi blockchain solution to the masses. And this network would mean that customers could sign in with IUNGO and connect to secure Wi-Fi with one username and password anywhere in the world where IUNGO has set up Wi-Fi services.
However. I think it is clearly evident that ING is not going to go up and stay up until ING is more advanced. And getting this on other exchanges is not going to make a huge difference in the price. This is not going back up to $1 or to $5 or $10 UNTIL ING shows a working product with a steady growth of installations occurring. Even the software is not complete.
The roadmap shows the alpha software not complete until June 2018. It is not until December 2018 the launch of a Beta software package takes place "which will include a billing layer that orchestrates ING token flow. Focus on SME and Enterprise sales as well as attracting consumers." And it isn't till the end of 2019 that ING states "Expansion through integrations / synergies with other DApps" occurs. Now we really don't know what goes on day to day within ING. We also don't have regular updates from them. So we don't know if they have hundreds or thousands of locations that have agreed to become part of ING global Wi-Fi. We don't know how strong nor effective their marketing is. We also have no idea what their best estimate of first customers is nor what they expect their growth rate to be.
Do they have the teams ready to go out globally to get ING into multiple locations rapidly? I believe they stated that they have a system in Vilnius International Airport that is in the test mode. I don't know if this will lead to the airport using ING or not. If I look online, I can see where Vilnius airport has had free Wi-Fi available for some time. Of course, that Wi-Fi will be local only and not like ING and be global. We also know that there are many companies with hotspots globally for Wi-Fi. So ING has a lot of competition and ING's whitepaper lists a few of their major competitors.
In the time it takes ING to start to gain momentum with installations, how much will these other companies advance thus taking more market share out of the hands of ING. First to market is often a powerful edge for a company to have. I think everyone needs to have a realistic view of ING. Stop thinking that at the end of 2018 that this is going to be $20. Unless we see massive growth here before the end of 2018, that simply won't happen. Now, if ING were the ONLY company attempting global hotspots for Wi-Fi, then the price could potentially be much higher than what it is today. So can ING create enough growth to grow the token price?
I can understand the frustration of many with the significant drop in the token price once it went on the exchange. But I also think had one really gone over the white paper and absorbed it, one would have seen that ING is not at the main launch phase yet. They still have work to do and that is going to be done at a time that other companies are growing their market share of global Wi-Fi hotspots. However, with the right marketing and the right team, ING has the potential to succeed. As well, IUNGO is also going to go after providing service to those that the larger companies ignore. And that might be the golden pot for ING.
For the record, I will hold onto my ING tokens for the time being and wait and see how they progress. I hope great success will come to ING in the not too distant future. I hope ING starts to share more on it's website of what is happening currently so that we can know how things are really progressing.
And a warning for readers here. I am NOT an investment advisor. I am not advising you to buy ING or any cryptocurrency. You must decide on your own and in consultation with a financial advisor should you want to consult with one. I do hold ING tokens and may accumulate more..JPG)
Wow this is such a good one sob sob sob did I miss the ICO?
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