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KICKICO ICO Review

05 september 2017, 18:41

Today we will look into a project that wants to raise funds through ICO to create a platform that will enable other project to raise funds through ICO. No it's not a badly copied sentence. Sounds catchy, doesn't it?

KICKICO ICO Review

Crowdfund of a crowdfunding platform

Generally it looks like this. A group of people get their idea, set up a business plan, look for a team, look for investors, gather supporters, nowadays issue their tokens and ICO, get the money, develop their product and enter the market. Everyone needs to admit that KICKICO has went a step further then anyone in raising funds for their project, as they have slightly messed up these general steps and are now raising funds for the development of a crowdfunding platform... through their own crowdfunding platform. This is the best marketing strategy, as it not only shows that they have an existing beta product already ready, they make every investor that wants to buy their coins check out, whether or not he wants it, how the platform is going to work. The ICO phase of this project hasn't ended, yet there are already a few new projects that are using this platform and are currently raising funds and deploying their own ICO tokens.

 

The looks

Before we go to the technical details and how they are surely a game-changer in this field, we need to focus on the beautiful, yet simple design of their site. This is a single place that provides all the promotional and marketing information for investors and new users. What it is, how they are going to change the world, why their team is the best in the world and so on and so on. But they managed to provide this information alongside normally working beta platform with a showcase of projects being currently crowdfunded there. And these two sides of the site are done neatly enough so that they aren't interfering with each other. I could easily look for information as an investor, but also start my crowdfunding campaign as a developer of a new project.

 

The crowdfunding platform

KICKICO is basically a fundraising platform that enables developers to raise money for their project in a various ways. Like for example through normal crowdfunding, but also with recently popular pre-ICO and ICO ways. The money for now can be raised in two most popular cryptocurrencies, which are Bitcoin and Ethereum, but they are planning to include other cryptocurrencies and tokens, as well as fiat's dollars or euros.

KICKICO ICO Review

 

Mainstream competition vs blockchain

A crowdfunding platform is a crowdfunding platform. This project may have a nice design and work well, but why would anybody switch to it from already well known and established similar sites?

The competition is very strong, there are a lot of good sites that can already back themselves with big projects that took off thanks to them. But as KICKICO does what is in a way revolutionary, which is introducing blockchain technology to this already known idea of crowdfunding, there are numerous benefits and advantages that come with it.

First of all, most of the fees are minimalized to the bare minimum. In a mainstream fiat-based platform, an user has to send the money via wire transfer, he has to fight off the problems of currency conversion if he's from abroad, pay fees of sending the money to the platform, then wait at least a day if not even weeks for it to come, then the site needs to process it, probably take another batch of operating and accounting fees... You get it, it takes time and a lot of money before it actually gets into the pocket of a project developer. Not only it is very inconvenient but also the money that goes to the developer is eaten with numerous fees.

Sending tokens on a blockchain takes only few seconds with no effort or problems and can be done from wherever you live, even if it's on the end of the world. The money you send gets directly to the project you want to support without any intermediaries. The only fees you pay would be Ethereum gas or platform's maintenance fees which all are matter of cents.

 

KICKICO tokens

The tokens on the KICKICO platform will act as smart contracts between backers and crowdfunded project authors. To make sure the ecosystem will remain healthy and coins won't lose their value, they are all backed by other cryptocurrencies and are only created when someone send their cryptocurrency to support the project. This way their value has a great chance of raising slowly and steadily with every successfully crowdfunded project. They are not mined like Bitcoins or created by the developers whenever they feel like doing this. KickCoin, as that's how the token itself is called, will be listed in the future on various exchanges as the team is already in talks with some of them. Their token is ERC-20 based so you can store it in your favourite Ethereum wallet without any problems.

 

The team and their approach

KICKICO ICO Review

The team has enough members to assure that the project will be fully developed and successfully delivered. It consists of people of various skills, all of them being experienced in their fields. Every one of them is listed on their site with all of his or her personal information, previous experience and skills. They are all real people with real links to their profiles on social media and linkedin. You can find programmers, IT and blockchain specialists, marketing advisors and designers or community managers.

To make the people behind this team even more likeable, we can add the fact that they are willing to translate for free description of interesting projects that are listed on this platform. This shows a very good approach for projects, so the developers can feel like the platform supports them and wants them to reach out to as much people as possible and raise needed funds. You can also expect a lot of marketing help from them. They also provide fundraisers with professional advisors experienced in the crowdfunding aspects and marketing methods.

By reading their whitepapers, you can have the feeling that it's not like they want to provide a platform and then just let it be, let it earn them money. They want to research every project that wants to raise funds on their platform, make sure it has every resource and tool needed to succeed. They also check and research them so that there won't be any projects that turn out to be some sort of a scam or being prepared so bad that there is no chance of delivering what they promise. This way, people who want to support various idea can feel secured and assured that the project they see have come through some sort of a real filter of people that care about their platform.

KICKICO ICO Review

 

ICO for ICOs

Their Initial Coin Offering has already started and will end on the 16th of September or earlier if the needed amount is raised. However, there is a little tweak to this, as no one knows what this needed amount is. They decided to include this Hidden Cap as a bit of a game to make this fund raising more interesting and fun. 3000 of KickCoins will be worth around 1 ETH. The coins will be distributed through a smart contract so there is no way that you won't get your tokens or get scammed.

KICKICO ICO Review

 

Potential drawbacks and risks

Well, an investor doesn't have to worry that the developers won't deliver the product as it's already almost ready and they will finish the platform with or without the funds. Whether or not the platform will become popular is another question, that's hard to answer, but given the information provided, all the technical features and the ambitious team, we can clearly say that they have an advantage over already existing mainstream crowdfunding sites, so there is a huge chance that one day this project will encourage developers that want to get their project crowdfunded to use KICKICO instead of other popular site and therefore they will become a real competition for other platforms and with the growth of a platform and it's popularity, the token's price will also grow, making the initial holders quite an amount of money.

 

Links:

https://www.kickico.com/

https://www.kickico.com/whitepaper

https://twitter.com/KICKICOplatform

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