ICO Analysis: CryptoProfile ICO Review

CryptoProfile ICO Review: A complete assessment and evaluation on CryptoProfile ICO, which goals to create a consolidated advertising and marketing airdrop platform.

Note: This represents the author’s private opinions and doesn’t – in any way- represent a advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and achieve this at your individual danger, as this can be very risky and you’ll lose your cash.

Overview

CryptoProfile is a number one blockchain advertising and marketing company that’s making a consolidated airdrop platform for the ICO market. The aim of the platform is to attach Initial Coin Offering (ICO) tasks with a big community of cryptocurrency fanatics, with varied providers that might considerably improve a mission’s advertising and marketing campaigns. The core providers of the platform will embrace Education, Airdrops, Bounties and Investment alternatives.

With the airdrop platform, CryptoProfile is making an attempt to resolve 2 core points:

Unreliable Airdrop Mechanisms: Airdrops have been a novel mechanism within the cryptocurrency market with the primary perform of distributing free tokens from ICO tasks to the lots for publicity and advertising and marketing functions. However, the present airdropping mechanisms are sometimes m annual and unreliable, particularly for individuals that possess a monetary incentive – comparable to entrepreneurs, writers, companions, and referrers – that enhances the publicity and publicity of the ICO.
Shady ICO Practices: It isn’t any secret that the ICO market is rife with shady practices, money-grabs, scams and Ponzi schemes that prey on weak individuals within the cryptocurrency market. The absence of any laws makes it straightforward for ICO tasks with ill-intent to get away with their schemes. Alternatively, the excessive failure charges of ICOs are a results of the shortage of product viability.

(See extra: Dangers in Cryptocurrency Investing)

Application

CryptoProfile appears to be like to streamline the airdropping course of whereas preserving a rigorous normal of enterprise acumen for the reason that success of its platform is instantly correlated with the success of the ICOs inside the ecosystem. Here is a visible circulation of how the platform will perform:

The airdrop mechanism instituted by CryptoProfile will run as follows:

ICO Projects on-boarded by CryptoProfile might want to upfront USD100k for the advertising and marketing publicity and providers of the community. In return for that, USD 100k worth of CP tokens can be given to the ICO mission.
The CP tokens returned to the ICO mission can be locked up in a wise contract for six months and launched when the mission has efficiently listed their native tokens on an alternate.
The ICO mission might want to allocate 10% of their ICO token to CryptoProfile, which thereafter allocate 100% of that token pool and airdrop to CP token holders with a view to additional stimulate curiosity and participation from the cryptocurrency neighborhood
All CP token holders can be rewarded with airdropped tokens every time an ICO is onboarded into the CryptoProfile community.
There can also be an avenue for CP token holders to take a position transparently on the ICOs which curiosity them inside the CryptoProfile ecosystem.

Due Diligence Mechanism

Every ICO mission will have to be screened completely to make sure that they conform to the requirements set by CryptoProfile. The due diligence mechanism is as follows:

Business Viability: The mission should be capable of handle a present drawback with an enough goal market and possible cash-flow predictions.
Technology: The mission should be backed by a sound technological base that works and suits the general mission targets.
Token Economics: A steady token financial mannequin is a pivotal issue within the success of the mission. Key variables to look out for is the diploma of centralization, escrow mechanisms and the synergy of the tokens with stakeholders’ curiosity
Team: The crew engaged on the product should be certified with the required abilities and dynamism for the mission’s success.
Coin Utility: The worth of any token is absolutely contingent on its utility. There should be a strong use-case and software for the tokens inside the ecosystem.
Regulation: Given the elevated scrutiny of the larger cryptocurrency market, the regulatory features of any mission will have to be analyzed inside the context of its jurisdiction earlier than anything.

(Read additionally: Why do individuals hate Bitcoin & Cryptocurrencies? Here’s 5 Common Misunderstandings)

Unique Selling Point

Novel Economic Model: CryptoProfile is without doubt one of the first platforms that target making a consolidated airdrop platform for ICO tasks. The platform naturally aligns the long-term pursuits of stakeholders, with listed ICO tasks getting the advertising and marketing publicity from the in depth community of buyers who maintain CryptoProfile’s native tokens (referred to as CP). CP holders are financially incentivized to additionally improve the advertising and marketing publicity of ICO tasks inside the ecosystem by way of the consolidated airdrop mechanism.

Team

Here is CryptoProfile’s crew:

All of the crew members of CryptoProfile relies within the nation of its incorporation, which is in Singapore. There is a complete of seven core members that make up the crew, headed by Max Ng, the managing director. Max has been within the cryptocurrency house since 2012, specializing in cryptocurrency schooling and buying and selling on his earlier endeavors. He has additionally been credited as creating a worldwide charting methodology with an estimated accuracy of 80% on hypothesis detection. Along along with his co-founders, they’re advisors to varied ICO tasks within the early stage spherical. A notable spotlight is CryptoProfile’s Global Business Development Director, Amarpreet Singh, who’s rated as one of many prime 10 Global ICO/STO Advisor and was a former financial advisor to the World Bank.

(See extra:  Types of Coins to Diversify Your Crypto Portfolio & Manage Risks)

Traction

Partnerships

Here are Cryptoprofile’s companions:

Cryptoprofile has partnered with varied academic entities such because the Institute of Blockchain, WebLearningResources, and IKIGuide. This is aligned with their preliminary focus of spearheading cryptocurrency consciousness and schooling to the cryptocurrency neighborhood. CryptoProfile are additionally energetic within the cryptocurrency occasions house, partnering the likes of BlockShow (by CoinTelegraph).

Roadmap

Here is CryptoProfile’s roadmap:

CryptoProfile has been working for the reason that third quarter of 2016, starting with academic providers and sources for the larger cryptocurrency neighborhood. It has then grown right into a full-suite advertising and marketing company that has established itself within the Asian area. The pre-sale and precise ICO will happen within the first quarter of 2019. The first half of 2019 would see the event of their native pockets and the launch of their test-net.

(Read extra: Crypto Beginners Guide: 5 Things Crypto Newbies Should Know)

Token Economics & Utility

Token Metrics

Here’s is the breakdown of Cryptoprofile’s native tokens, CP:

CryptoProfile has already accomplished their non-public sale spherical with nice curiosity and is now wanting in direction of their pre-sale spherical, which commences in the beginning of 2019 for a interval of 30 days. Over 1 / 4 of the entire funds raised will go in direction of advertising and marketing bills in a bid to create the publicity and branding of the platform.

Token Utility

CryptoProfile’s native coin is an ERC 20 token referred to as CP, which is constructed on the Ethereum blockchain. The delicate cap of CryptoProfile’s token sale can be $1.1 million whereas their laborious cap stands at $30. 4 million.

CP is a utility token with the next use circumstances:

Main Currency: CP would be the most important foreign money in CryptoProfile ecosystem, which is required to work together with the platform’s key parts. ICO tasks which might be onboarded into the platform is required to transform their fiat into the native CP tokens to entry their advertising and marketing publicity,
Remuneration: There can be a large reward pool for stakeholders of the CryptoProfile community, comparable to content material writers and bounty hunters. They can be rewarded in CP tokens

(See extra: Will A Crash in Bitcoin’s Price Lead to Its Demise?)

Strengths

Lucrative Market Potential: The cryptocurrency market is without doubt one of the quickest rising industries globally, even at when the market skilled a bear marketplace for the remainder of 2018. Though risky, the infancy of blockchain know-how has attracted many within the house, with market capitalizations of the overall cryptocurrency market standing in extra of $150 billion.
Novel Economic Model: CryptoProfile is without doubt one of the few tasks round that tries to reinforce the airdropping mechanism that’s distinctive to the cryptocurrency market. Ensuring that each one stakeholders within the ICO advertising and marketing course of is aligned financially and for the long-term, it provides robust worth to their native tokens, CP.
Due Diligence Mechanism: CryptoProfile’s platform ensures that solely credible tasks are onboard. Projects can be assessed utilizing a strict normal that consists of its potential viability, know-how metrics, crew power, and token utility. This is a optimistic level for the reason that credibility of CryptoProfile’s platform is simply as robust because the credibility of the person ICO tasks inside the ecosystem.

(Read extra: 5 Valuable Lessons From The Cryptocurrency Market in 2018)

Weaknesses

Lack of Technical Details: The whitepaper lacks the technical particulars on the blockchain finish of the platform.
Moderate Roadmap: The second half of 2019 appears to be like fairly uneventful in line with the roadmap, which sees CryptoProfile specializing in boards within the third quarter and compliance issues within the final quarter. It appears comparatively lax relative to the schedule of different ICO tasks.

Summary

From its humble beginnings specializing in cryptocurrency consciousness and schooling, Cryptoprofile has grown into a longtime advertising and marketing company that has its sight on redefining the airdropping course of. Being an integral and distinctive a part of the cryptocurrency world, airdrops has usually been unreliable and restricted in its effectiveness as a advertising and marketing instrument. With a platform particularly centered on delivering worth to new ICO tasks and financially incentivizing all stakeholders within the course of, the long-term imaginative and prescient of every ICO mission is extrapolated to the larger neighborhood.

Verdict: Good Project

(Read additionally: Evolution of Cryptocurrency: The Problem With Money Today)

Beneficial Resources To Get You Started

If you are beginning your journey into the complicated world of cryptocurrencies, this is an inventory of helpful sources and guides that can get you in your means:

Trading & Exchange

Wallets

Read additionally: Guide on Privacy Coins: Comparison of Anonymous Cryptocurrencies and Guide To Cryptocurrency Trading Basics: Do Charts & Technical Analysis Really Work?

This represents the author’s private opinions and doesn’t – in any way- represent a advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and achieve this at your individual danger, as this can be very risky and you’ll lose your cash.

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