How Are Blockchain Project Funded These Days?

goldkingcoiner

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A Bitcoiner chooses. A slave obeys.

Quote from: Taskford on September 04, 2022, 05:01:05 AM

Quote from: goldkingcoiner on September 03, 2022, 04:35:54 PM

I do warn them about not having a good use case but they always think their project is amazing and completely faultless. Some project CEOs have giant egos and do not want to hear the truth that nobody needs their coin or that there is a better non-blockchain alternative. Roll Eyes

They refuse to create more use case because they don't actually have plan to make their project became more bigger. Provably those CEO's you work for is only for sales and target only to gather more money out of their ideas that's why they didn't listen on suggestions given. This action they made is actually a big red flag since as you said they didn't listen for anything and most provably they aim to scam people.

Do you really believe that I would work for scam projects or are you just in need of an extra post for your signature campaign? I would say the former.

No, I thoroughly research the projects that I work for and I never work with a scam project that has nothing to show but an idea. I work with real people, real teams and projects that have already created something with hard work. Most of the time this means an MVP (Minimal Viable Product). If they cannot show me that they have put in a lot of time, money and hard work then I am obviously not interested in working for them.

The problem of them not listening is mainly the fact that they have gone too far to back out of the project. That is what I mean by ego.

Taskford

hero member

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Quote from: goldkingcoiner on September 03, 2022, 04:35:54 PM

I do warn them about not having a good use case but they always think their project is amazing and completely faultless. Some project CEOs have giant egos and do not want to hear the truth that nobody needs their coin or that there is a better non-blockchain alternative. Roll Eyes

They refuse to create more use case because they don't actually have plan to make their project became more bigger. Provably those CEO's you work for is only for sales and target only to gather more money out of their ideas that's why they didn't listen on suggestions given. This action they made is actually a big red flag since as you said they didn't listen for anything and most provably they aim to scam people.

goldkingcoiner

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A Bitcoiner chooses. A slave obeys.

Actually ICOs are very well alive still. Except now they are subject to much more regulation thus not profitable for scammers anymore. I think most people looking to fund their project with an ICO would not go through all the hard work if his/her project was the same kind of ICO scammy crap as in the early ICO days.

I work with ICO projects sometimes and they have it very hard. Which is a good thing. ICO project quality has gone way up and scams have gone down.

That being said, from my own unique experience, 9/10 projects do not have what it takes. And the one that does have what it takes very rarely has a meaningful use case for blockchain and of course, for a cryptocurrency.

Not that I complain if such doomed projects wish to hire me. (never take payment in their own crypto, of course) I help them with marketing and get them the outreach they want. Especially to institutional investors who are interested in Blockchain. I do warn them about not having a good use case but they always think their project is amazing and completely faultless. Some project CEOs have giant egos and do not want to hear the truth that nobody needs their coin or that there is a better non-blockchain alternative. Roll Eyes

joniboini

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Quote from: ?? on ??

I usually read that blockchain is unnecessarily attributed to something when in reality someone can just use Bitcoin or it doesn't even need blockchain in the first place.

From a business point of view, it's simple, they can profit from it and control it. But of course, just like how eBay exists while Amazon is there, I think it's inevitable that some new projects will keep coming out to compete with each other. That's not bad per see, the market will eventually filter out who will survive and who won't.

Pmalek

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Quote from: ?? on ??

I usually read that blockchain is unnecessarily attributed to something when in reality someone can just use Bitcoin or it doesn't even need blockchain in the first place. Why do we need to fund anymore blockchain projects when so many exist?

People are trying to ride the hype train for as long as possible. Blockchain is a buzz word and project owners want their creations to be associated with this new buzz word expecting greater interest and more profit. But even if you have a good idea and a good project, that thing you created does not need its own cryptocurrency. Even though it's good, it might be a bad idea to have it on the blockchain.

I remember a few years ago I saw ads and signatures of some business attempting to build their own movie theatres and host movies on the blockchain. That's a good example of a worthless use case.

epsi1on

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Quote from: Newchanka on August 11, 2022, 11:50:45 AM

ICOs no longer work due to regulatory laws. How are new blockchain and crypto projects funded?

For example which crypto project you do mean? can you please name one?

pooya87

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Quote from: ultrloa on August 12, 2022, 06:55:27 PM

Many project emerge right now with actual product launched especially with NFT's so I guess some of them following this tactics and raise another funds from selling some stuff to their investors then used to fund on either upgrading their projects or making their pocket fat.

Even with NFTs you are still receiving a useless token and NOT any form of "actual product". The only difference is basically the name and not much else. In fact ever since ICO scam failed by the end of 2017 they have been changing the name of the scam and have been trying to fool people into buying the same tokens under a different "category name". Here is the names they've used so far:

Code:

ICO, IDO, IBO, IEO, ITO, STO, DeFi, NFT

ultrloa

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Quote from: Newchanka on August 11, 2022, 11:50:45 AM

ICOs no longer work due to regulatory laws. How are new blockchain and crypto projects funded?

Devs don't have a choice but to use their own money because first they cannot ask for further more investors money because first many people doesn't trust ICO's now and secondly its prohibited by the law. Many project emerge right now with actual product launched especially with NFT's so I guess some of them following this tactics and raise another funds from selling some stuff to their investors then used to fund on either upgrading their projects or making their pocket fat.

seoincorporation

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DaveF is right. The projects are funded with real money.

Simple as go to your exchange, deposit some cash and buy the cryptos to run your business. As the old school users did it.

The fun part about the ICOs is they get money with an idea of a project, but most of their projects never see the light, the ICOs admin used to run with the money most of the times.

DaveF

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Crypto Swap Exchange

Open you wallet and spend some money. The same way any 'real' project should be funded.
Satoshi didn't run around asking for money to create BTC.

He sat down and did it. Find a bunch of like minded individuals and get to work. You can even borrow money and if the project makes money you can pay back the loan and keep the profits for yourself.
Why have ICOs been regulated into almost oblivion.....because most of them were scams.

Sorry if this comes out as grumpy, but in the end blockchain projects are not that much different then any other business / project. You can get funding the same way.

-Dave

Newchanka

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If there's something to be written...

ICOs no longer work due to regulatory laws. How are new blockchain and crypto projects funded?

Topic: How Are Blockchain Project Funded These Days? (Read 335 times)