Originally when we conceived the idea for this project 10 months ago, we mused the idea of running an ICO token sale like every other blockchain startup. ICO’s were the craze and everybody wanted to get that EASY MONEY.
The crazy thing is that the majority of ICO’s were put together by groups of people that knew very little about blockchain or its limitations. Just come up with some wild idea and say your going to put it on the blockchain, write a whitepaper then ask for $30,000,000, easy as that. Even if a whitepaper looked more like a fiction novel, the industry was so new, there wasn’t anybody to disprove the stacks of ridiculous opportunities being offered. Nobody was paying attention to reality.
Fast forward to the end of 2018 and ICO’s have earned a bad rap. After a string of over promised projects, bad money management and numerous exit scams, the industry is catching on. The regulators and the SEC have put one foot foot down making the money grabbing ICO model a lot less desirable. Investor sentiment in the industry has gone from jump in blindly to don’t trust ICO’s they are all SCAMS.
Much like the .com boom and bust, there will be gems that rise from the crypto & ICO ashes, so keep an eye out. There will also be sleeper projects that build from the ground up with a real vision & use case. This is how we like to view our project
Can A N0 ICO Crypto Project Still Win?
Due to the changing landscape, we decided against running a traditional ICO, but instead self fund the initial stages. To move the TuneTrade project forward we will be utilizing private supporters, partnerships, volunteers, and community contributors.
Here are some of the reasons we feel bypassing a traditional public ICO is the better choice for our project.
- Currently we don’t need the money. Our project is sufficiently self funded by the founders and a few supporters that believe in us. We currently have a budgeted roadmap of about 18 months. We are also developing services alongside the project that will generate revenue to help support the project.
- Anyone can come into our community and earn Tokens. Since we are not publicly accepting money or selling anything, we don’t have to force everyone through a KYC or AMA process. This can be a very complicated and expensive process that turns a lot of people off. A large portion of the population including third world countries do not even have the proper credentials to participate in a KYC even if they wanted to. It actually alienates a large portion of the population which completely goes against what crypto is all about. We don’t roll like that.
- Exchanges will avoid you. Due to pending regulation FUD, there are many exchanges that will not list new tokens that ran ICO’s. We are currently talking to 2 exchanges in the top 20 that told us not doing an ICO is a good thing right now and that they are very interested in potentially listing us in 2-3 months once our project matures.
- We can better distribute our tokens to the right people. We believe just selling the majority of a projects tokens to random investors that want to flip & dump is a flawed system of token distribution. We believe a better plan is to make our tokens available to people, influencers, and organizations that will truly follow the project or want to use our services.
- It drives us to succeed. One of the problems we are seeing from the ICO gold-rush is projects were given WAY TOO MUCH MONEY and now have Zero incentive to care about what they deliver. They already have the prize. The goal become BS investors with sales & FOMO then figure out how to do something or don’t do anything.
We here at TuneTrade believe the best part is the journey, we want to earn our way to the top and we want our team to get excited and motivated at every milestone. We are very budget minded and seek out talented team members that believe in the vision.