Good question, thanks.
There will be other competitors who are:
- the traditional crowdfunding platforms such as Kickstarter and Indiegogo
- blockchain based crowdfunding platforms, like fundyourselfnow and kickico. KickICO is a bit different, as they also focus on running ICOs instead of just traditional non-ICO crowdfunding campaigns.
Here's why we're better (taken from our whitepaper)
- We want to make crowdfunding free - Other platforms charge between 4% to 10% in fees.
- The crowdfunding market is still in its infancy, with a potential to reach anything from USD 90B to 1 trillion per year by 2025 (World Bank, 2013; MyPrivateBanking, 2015). We’ll allow virtually all legal projects to list on our platform irrespective of where the project originates from and irrespective of each Founders’ project goal. Project types could include but are not limited to commercial, creative, research, charity and personal causes. -
- We wish to expand project exposure in new markets where previous access and competition are low, such as emerging markets <-- there are HUGE untapped markets for crowdfunding
- Goods from successful projects can automatically be listed and sold on the Acorn Marketplace with no fees for campaign founders.
- Subject to the success of our ICO, we have designed Token Growth & Stability Mechanisms intended to increase the value of ACO starting after token distribution. These mechanisms include:
a. The Project Incentive Fund will seek to provide generous starting bonuses to incentivize early adopters and reward recruitment of founders, backers and token users into our ecosystem. This can be a double accelerator, not only will the platform be free but it would also reward those generating early traction with incredibly generous incentives. It’s a mechanism to employ a huge marketing budget in an area where it should conceivably allow rapid growth for the platform and token.
b. Our Liquidity Reserve is intended to mitigate ACO price fluctuations related to large campaign payouts.
c. Subject to obtaining the required license or establishing a relationship with an existing licensed insurer, we intend for backers to have the option of buying Project Backer Insurance. For an additional fee, they could insure themselves up to the full value of their commitment against the possibility of project failure. We hope this will lower some of the objections to pledging funds.
d. Affiliate Rewards system: If implemented, this would provide rewards for anyone who can successfully recruit new users to participate in our platforms and therefore use ACO and our ecosystem
e. Frictionless ACO Purchases: We intend to connect with the APIs of exchanges and popular wallets to integrate them into our platform, creating a frictionless transaction environment.
f. Partnerships: We intend to actively explore partnerships with campaigns created on Acorn Hub as well as 3rd party platforms to integrate ACO and increase its utility
All of the above features and systems are intended to generate demand for the ACO token in the face of a permanently fixed supply.
tl;dr version
- free-to-use platform
- open to any legal project and any country
- fixed supply token --> more users mean higher token value
- project incentive fund: proportion of the ICO will be spent on incentivising early adoption of our platforms, meaning early growth of token demand
- tokenomics: crowdfunding on Acorn Hub; post-campaign sales of good/services on Acorn Marketplace; purchase secondary services on Acorn Support; point-of-sale transactions in local communities using Acorn Local. All use ACO token for transactions, meaning a continuous and circular flow of our token and a lot of utility
Hope that answers your question? Let me know if there are more!
read, impressed by the integrity of the tasks, free and affordable project for customers. but as an investor immediately touched upon the question of what will then exist the project and what benefit it will bring to the investor, if the platform is free.
