So u guys want to raise $220 USD?? Seriously, how do you justify the price of $1 USD per Token? I don't think you can charge that price only because you have some potential customers Sorry but that's way to expensive - looks like collecting money and that's it to be honest.
Also I don't see the need to offer gaming content (in-game items), rather focus on one thing instead of a huge variety.
Thank you for your opinion! We have experienced quite a dire need for an independent platform which consolidates the current black-markets for virtual goods into one legal and open market. According to several market analysis the virtual goods market was worth over $50 billion in 2016, other estimates conclude at least a high double digit number. We think that virtual goods as seen and used in games are assets of value, in which the gamers invest, spend their time for and put their trust in those. Switex fully focuses on virtual goods and thus want to establish easy to use market comparable to a hybrid of eBay & Amazon for virtual goods.
Ok, so if you focus on that that's one point, and I agree with some statements. But why do u need 220 million USD for that project?
We are creating a token-economy, one single interface that allows users to trade cryptocurrencies, virtual goods and the financial markets. Unlike other ITSs, the funds raised by NAGA will be used to scale an already well-established business model aiming to achieve a unique position in the market. Just a fraction will go towards operational and platform expenses and development. The major part of the funds will go to direct revenue generating activities. Unfortunately, Business Actions are always very costly. And that’s why we see a sense behind raising funds for development, scale and platform growth. We set the hard cap at the same level as our market cap on the stock exchange. We don´t need to raise a certain amount to make our products run, we are already live and our development is funded by the capital markets and investors like the multi-billion-dollar Chinese Fosun Group. We use the capital raised in the token sale predominantly to scale up the token economy. To make sure the number of users and hence the demand of tokens as well as the token price grows. So the Hard cap is based on the market cap, we have big projects, we started to put them in place and we want to be consistent with that, and not only compare our Hard cap with other ICOs or "ideas" that do not have any product or a functioning business model.
I agree with bon3s90. Token sale price has no explanation, and is way out other ICO´s prices.
I fully understand that business actions has a high cost, but still you didn´t clearify why ICO price is 1$.
Another question: Fundraising Goal: $30m. What would happen if you don´t reach this goal? I read that all unsold token will be burnt, but since you put a high price due to the business actions cost, what would you do if you can´t fund all those actions with what you covered? Will the project NAGA token die slowly?