Initial Coin Offering: A Fundraising Anarchy or A New Trust Standard
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Transcript of Initial Coin Offering: A Fundraising Anarchy or A New Trust Standard
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ICO:
A Fundraising Anarchy or A New Trust Standard
By:Lena Kuznetsova & Oxana Kunets
May, 2017
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BITCOIN ECOSYSTEM 2013: STILL NEW CLUB ON THE BLOCK
Wallets Exchanges
Hardware Investors
Buy / Hold
VC Funds
ETF?
Payments Remittances Lending
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BLOCKCHAIN ECOSYSTEM 2017: THE PLACE TO BE
Wallets Exchanges
Hardware
ICO
Money Transfers
Exchange / Wallet Builders
Infrastructure / BaaS
Data Storage / Management
Insurance
VC Funds Investment Funds
Forecasting
Gaming
Marketplaces
Asset Management
Entertainment / Content
Tokenization
Real Economy
Open-End ETF? Buy / Hold
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Step 1: Pre-announcement
Step 2: Offer
Step 3: PR Campaign
Step 4: Crowdsale
Trading on Exchanges
ICO 101
Community
Tech evangelists
Supporters
Advisors
Services
Infrastructure
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VC, ICO, AND CROWDFUNDING COMPARISON: STARTUP’S STANDPOINT
CrowdfundingVenture Capital ICO
Time
Stage
PR
Rights
Valuation
WeeksMonths
Pre-ProductProduct-Market Fit
High ImportanceLow Importance
Value Add “Smart Money” Feedback? ?
Yes No
Yes No
Tangible Reward No Yes
Funding Rounds Yes No? ?
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VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Valuation
Yes!
CrowdfundingVenture Capital ICO
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VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Yes!
CrowdfundingVenture Capital ICO
Investment Decision Analysis
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VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Yes!
CrowdfundingVenture Capital ICO
Investment Focus
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VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Yes!
CrowdfundingVenture Capital ICO
Protections & Legal Framework
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Entrepreneur’s Identity
VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Yes!
CrowdfundingVenture Capital ICO
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Investment Liquidity
VC, ICO, AND CROWDFUNDING COMPARISON: INVESTOR’S STANDPOINT
Yes!
CrowdfundingVenture Capital ICO
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FUNDRAISING AS A DATE
https://youtu.be/9R2Nb2gk74Y
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SUCCESSFUL ICOS: AGE, FUNDRAISING, MARKET CAP
SynereoAntShares
FirstBlood
Iconomi
Golem
SingularDTV
Waves
Lisk
Digix
Augur
Factom
Storj
Bitshares
SafeNetwork
Counterparty
NXT
Bitcrystals Muse OmniLayer
Plutus
BlockPay
vDice
Komodo
WingsMelon
Lykke
Chronobank
1
10
100
0.0 1.0 2.0 3.0 4.0
Curr
ent M
arke
t Cap
, mil.
USD
ICO Age
(1)
Note: size of a bubble corresponds to the funds raised in BTC equivalent. (1) Market Cap as of May 18th, 2017.
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Synereo
AntShares
FirstBlood
Iconomi
Golem
SingularDTV
Waves
Lisk
Digix
Augur
Factom
Storj
Bitshares
SafeNetwork
Counterparty
NXT
Bitcrystals Muse OmniLayer
Plutus
BlockPay
vDice
Komodo
WingsMelon
Lykke
Chronobank
1
10
100
0.0 1.0 2.0 3.0 4.0
Curr
ent M
arke
t Cap
, mil.
USD
ICO Age
SUCCESSFUL ICOS: INDUSTRIES
Digital assetsInfrastructure
EntertainmentCommunity
PaymentsPrediction
(1)
Note: size of a bubble corresponds to the funds raised in BTC equivalent. (1) Market Cap as of May 18th, 2017.
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New Trust Standard?
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IDEAL ICO FORMULA
https://youtu.be/02iJ6RRQ3PQ