Initial Coin Offerings (ICOs) have been making news for reasons both good and bad. An Initial Coin Offering can be considered a counterpart of an Initial Public Offering (IPO). Basically, it’s crowdfunding in the cryptocurrency market. The exponential rise in the number of ICO launches and money raised has brought them under the microscope with regulators issuing public notices, warning investors about ICOs being a ‘pump and dump’ scheme and some other form of scam. While there is some once of truth in this claim, it would be unfair to put all projects under the same head.
There are several good projects being launched which have merit to them. Here’s a look at four such upcoming ICOs (in no particular order).
Energi Mine (ETK)
Energi Mine is a Manchester, UK-based technology company founded in 2016 that uses advanced technologies such as Artificial Intelligence (AI) and blockchain to trade and manage energy on behalf of blue-chip clients. The company is now looking to revolutionize the $2 trillion global electricity market by bringing in a change in the way energy is both traded and consumed.
By launching a tokenized platform for energy, Energi Mine plans to decentralize the global energy markets. This will facilitate peer-to-peer trading of electricity between users while offering rewards in the form of tokens to users (Energi Tokens – ETK) for energy-saving behavior. Attaching incentives to energy-efficient behavior can reduce the wasteful energy demand and promote buying of efficient energy appliances.
Overall, the platform can help resolve basic issues in the existing energy marketplace such as opaqueness, centralized mechanism, limited players and lack of incentives for consumers. The ICO is just about to enter pre-sale, with a target ICO date towards the end of the year.
While cryptocurrencies have garnered a lot of interest, factors such as limited knowledge, volatility and high risk are some of the reasons that have kept investors away from dipping their toes. This is where a structured product like the CRYPTO20 can be of use.
CRYPTO20 is the first cryptocurrency-only tokenized index fund that autonomously maintains (through regular rebalancing) a diverse portfolio of the top 20 cryptocurrencies by market capitalization. The product can replicate the style of Vanguard 500 that maintains a portfolio of top 500 publicly listed US companies based on market capitalization.