They're trying to raise 100,000 Eth, that's a lot of money for a small startup. I also read 65% will be used for developing the system. I don't know much about building software, is this a normal amount?
They've over 10 people in the team so it's not small company. And they're going to hire more people to release the product soon. There are really good numbers.
It's still more 3.6 million USD per team member and they also keep a percentage of all tokens in reserve. If they get so much from the token sale alone why would they continue working on the system?
No.
At first it isn't 3.6milion USD. It's 100k ETH which could be at local price high and could be worth significally less by few months next year.
Secondly there is a really great project. They registered the project as a company.
It gives reliability, but it brings some taxes to be paid.
Third, they publish their real identities. They are good traders, so they are probably already rich,
so they seems to work for another purposes than money.
They just need a financial comfort to develop their project as best as it is possible.
And there is much more reason making algory very promising project.
So I am sure to get in this project will be good move. For now I invest my time, but I definitely will buy some tokens where crowdsale starts.
1. The crowd sale runs from 8 December till 8 Jan 2018, for the past months Ethereum has been hovering around $300, so chances are high that 100,000 Eth means about $30 million invested. I haven't found a minimum target and the tokens are sent directly after depositing Eth so unless there's some lock up in the smart contract The Algory team can cash out Eth to fiat as soon as they receive it.
2. I don't know the laws where they're registered, but they could just not deliver anything while enjoying their money as a company. At least in the US you have to deliver what you promised.
3. See 2.
All I am saying is, too much money could turn it into vaporware whatever good intentions they have.
