CryptoProfile ICO Review: A comprehensive review and investigation about CryptoProfile ICO, that intends to conceive a consolidated marketing and advertising airdrop platform.
Note: This reflects the author personal remarks and can not in any way- constitute a recommendation of an investment or economic information. Please assume caution if purchasing cryptocurrencies and also do this at your own personal risk, since it’s exceedingly volatile and also you may lose your dollars.
CryptoProfile is a top block-chain promoting bureau that’s creating a consolidated airdrop platform to its ICO marketplace. The objective of the stage is to join Initial Coin Offering (ICO) endeavors with a massive network of cryptocurrency enthusiasts, with assorted services which could greatly boost a job advertising efforts. The core services of this platform should comprise Education, Airdrops, Bounties and Investment chances.
With all the airdrop stage, CryptoProfile Is Attempting to resolve two heart problems:
- Unreliable Airdrop Mechanisms: Airdrops are an exceptional mechanism at the cryptocurrency marketplace with the most important use of dispersing free components from ICO endeavors to the masses for both promotion and advertising purposes. Nevertheless, the existent air-dropping mechanics tend to be unreliable and yearly, particularly for participants who have a very economic incentive – such as marketers, authors, spouses, along with referrers – which enriches the vulnerability and promotion of their ICO.
- Shady ICO PracticesIt isn’t any secret the ICO marketplace is rife with unethical techniques, money-grab scams, scams and Ponzi schemes which prey on exposed participants at the cryptocurrency marketplace. The lack of some regulations makes it effortless to get ICO endeavors with ill-intent to obtain away with their own schemes. Otherwise, the higher failure levels of ICOs are a consequence of the deficiency of product viability.
CryptoProfile looks to streamline the air-dropping process when maintaining a strict level of industry acumen after all the good results of its own platform is directly connected with the good results of their ICOs within the ecosystem. Here’s a visual stream of how the system will operate:
The Air-drop mechanics staged by CryptoProfile will operate the following:
- ICO Projects on-boarded by CryptoProfile will should up-front USD100k to your advertising vulnerability and services of this system. In exchange for this, USD 100k worthiness of CP tokens is going to probably be supplied to the ICO undertaking.
- The CP exemptions came back into the ICO endeavor is going to be wrapped up at a wise arrangement for 6 months and then published while the job has profitably recorded their indigenous Assets within a market.
- The ICO job Will Have to devote 10 percent of the ICO nominal to CryptoProfile, which then allocate 100 percent of This token pool and also Air-drop into CP token holders to be able to stimulate curiosity and involvement from the Cryptocurrency neighborhood
- All CP token holders will probably be rewarded using air-dropped tokens whenever that an ICO is onboarded in the CryptoProfile network.
- There is an avenue for CP token holders to take a position liberally on the ICOs that interest them over the CryptoProfile ecosystem.
Due Diligence Mechanism
Every ICO job will want to get screened entirely to be certain that they adapt to the standards set by CryptoProfile. The expected diligence mechanism is as follows:
- Business Viability: The undertaking needs to be in a position to tackle an existing problem using a decent target marketplace and achievable cash flow forecasts.
- Technology: The undertaking has to be endorsed by a solid technical foundation that works and fits the general job objectives.
- Token Economics: A stable socialist financial version is a critical element in the achievements of this undertaking. Crucial factors to Watch out for is your level of centralization, escrow mechanics and also the synergy of these components with stakeholders’ interest
- Team: The team working on the product must be qualified with the necessary skills and dynamism for the project’s success.
- Coin Utility: The value of any token is fully contingent on its utility. There must be a solid use-case and application for the tokens within the ecosystem.
- Regulation: Given the boosted scrutiny of the greater cryptocurrency marketplace, the regulatory aspects of any project will need to be analyzed within the context of its jurisdiction before everything else.
Unique Selling Point
- Novel Economic Model: CryptoProfile is one of the before all else platforms that focus on creating a consolidated airdrop platform for ICO projects. The platform naturally aligns the long-term interests of stakeholders, with listed ICO projects getting the marketing exposure from the extensive network of investors who hold CryptoProfile’s native tokens (called CP). CP holders are financially incentivized to also gain the marketing exposure of ICO projects within the ecosystem through the consolidated airdrop mechanism.
Here is CryptoProfile’s team:
All of the team members of CryptoProfile is based in the country of its incorporation, which is in Singapore. There is a total of 7 core members that make up the team, headed by Max Ng, the managing director. Max has been in the cryptocurrency space after all 2012, focusing on cryptocurrency education and trading on his previous endeavors. He has also been credited as creating a global charting methodology with an estimated accuracy of 80% on speculation detection. Along with his co-founders, they are advisors to various ICO projects in the early stage round. A notable highlight is CryptoProfile’s Global Business Development Director, Amarpreet Singh, who is rated as one of the top 10 Global ICO/STO Advisor and was a former economic advisor to the World Bank.
Here are Cryptoprofile’s partners:
Cryptoprofile has partnered with various educational entities such as the Institute of Blockchain, WebLearningResources, and IKIGuide. This is aligned with their initial focus of spearheading cryptocurrency awareness and education to the cryptocurrency community. CryptoProfile are also active in the cryptocurrency events space, partnering the likes of BlockShow (by CoinTelegraph).
Here is CryptoProfile’s roadmap:
CryptoProfile has been operating after all the third quarter of 2016, beginning with educational services and resources for the greater cryptocurrency community. It has then grown into a full-suite marketing agency that has established itself in the Asian region. The pre-sale and actual ICO will come to pass in the before all else quarter of 2019. The before all else half of 2019 would see the development of their native wallet and the launch of their test-net.
Token Economics & Utility
Here’s is the breakdown of Cryptoprofile’s native tokens, CP:
CryptoProfile has already completed its private sale round with great interest and is now looking towards its pre-sale round, which commences at the start of 2019 for a period of 30 days. Over a quarter of the total funds raised will go towards marketing expenses in a bid to conceive the publicity and branding of the platform.
CryptoProfile’s native coin is an ERC 20 token called CP, which is built on the Ethereum blockchain. The soft cap of CryptoProfile’s token sale will be $1.1 million while their hard cap stands at $30. 4 million.
CP is a utility token with the following use cases:
- Main Currency: CP will be the main currency in CryptoProfile ecosystem, which is required to interact with the platform’s key components. ICO projects that are onboarded into the platform is required to convert their fiat into the native CP tokens to access their marketing exposure,
- Remuneration: There will be a wide reward pool for stakeholders of the CryptoProfile network, such as content writers and bounty hunters. They will be rewarded in CP tokens
- Lucrative Market Potential: The cryptocurrency marketplace is one of the fastest-growing industries globally, even when the marketplace experienced a bear marketplace for the rest of 2018. Though volatile, the infancy of blockchain technology has attracted many in the space, with marketplace capitalizations of the general cryptocurrency marketplace standing in excess of $150 billion.
- Novel Economic Model: CryptoProfile is one of the few projects around that tries to enhance the airdropping mechanism that is unique to the cryptocurrency marketplace. Ensuring that all stakeholders in the ICO marketing process is aligned financially and for the long-term, it adds strong value to their native tokens, CP.
- Due Diligence Mechanism: CryptoProfile’s platform ensures that only credible projects are onboard. Projects will be assessed using a strict standard that consists of its potential viability, technology metrics, team strength, and token utility. This is a positive point after all the credibility of CryptoProfile’s platform is only as strong as the credibility of the individual ICO projects within the ecosystem.
- Lack of Technical Details: The whitepaper lacks the technical details on the blockchain end of the platform.
- Moderate Roadmap: The second half of 2019 looks quite uneventful according to the roadmap, which sees CryptoProfile focusing on forums in the third quarter and compliance matters in the last quarter. It seems relatively lax relative to the schedule of other ICO projects.
From its humble beginnings focusing on cryptocurrency awareness and education, Cryptoprofile has grown into an established marketing agency that has its sight on redefining the airdropping process. Being an integral and unique part of the cryptocurrency world, airdrops has often been unreliable and limited in its effectiveness as a marketing tool. With a platform specifically focused on delivering value to new ICO projects and financially incentivizing all stakeholders in the process, the long-term vision of each ICO project is extrapolated to the greater community.
Beneficial Resources To Get You Started
If you’re starting your journey into the complex world of cryptocurrencies, here’s a list of useful resources and guides that will obtain you on your way:
- Crypto Guide 101: Choosing The Best Cryptocurrency Exchange
- Guide to Bittrex Exchange: How to Trade on Bittrex
- Guide to Binance Exchange: How to Open Binance Account and What You Should Know
- Guide to Etherdelta Exchange: How to Trade on Etherdelta
- Cryptocurrency Trading: Understanding Cryptocurrency Trading Pairs & How it Works