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We are a group of four based in California, we met and all currently work in some capacity for a similar application. It's large, you've heard of it. One of our members holds a rather important position and works in exclusivity. Devoting time to other applications is grounds for his termination. That is the current reason we do not have any team information available at this point.
The revenue we make there is what allows us to fund development and other associated costs. Once the ICO is over we have all agreed to put in our two weeks so we can fully devote time to Snapshot. Our team Page will be released on August 10th.
We understand this isnt ideal, but it is the only option available where we have enough funding pre ICO to operate. This will cast doubt on our project and will prevent some from investing but it is necessary to get Snapshot off the ground, and realistically our funding target is set at a price where we aren't worried about our ability to raise it.
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That will be a big challenge for the team. I don't know if you can attract so much investors with that kind of style.
Since the community is fed up with all those scammers, crappy projects, name it, a lot of them will be hesitant to risk their hard-earned money.
Unless, you know someone who has big pockets, who believe in your platform and who's willing to shell out for your initial fund. That would be awesome.
But who knows, if you have concrete plans and this project is a promising one, maybe you will pull it off.
We completely agree, That is one of the main reasons our target funding is so low compared to similar projects. We feel the low ICO value will properly pay back the users who invest on the ground floor, the profits mirror the risk investors are taking.
Part of the reason we aren't worried is because we brought our project forward to a few select angel investors and after they signed their non disclosure agreements and we pitched they wanted to follow through. We ended up recanting the offer as we felt having tokens in the hands of actual users would be much better for the projects longevity, even if it means lower than possible funding.
So if the
worst happens and the offering doesn't go anywhere we will have other avenues for funding, even though we think they are less than ideal.
It is good to know that "if the worst happens and the offering doesn't go anywhere" yo have other avenues because, as is, this thing, even if it is legit -very doubtful at this point- faces very significant headwinds.
1st.- It makes no sense, since you have all those other avenues regardless of the results of the ICO, to wait until the end of it to give your 2 weeks notices. No real reason for it. In fact you need the ICO to be successful or you would just keep your day jobs -a very good option in more ways than one, to keep the day jobs- and forget about the application or go with it the usual route outside of crypto.
2.- Bringing this to crypto only serves one clear purpose: Getting that initial funding and securing your salaries. Given the reduced usage to be expected from crypto people (as opposed to mainstream), any profit is very distant in the horizon... at best.
3.- But lets imagine that this becomes wildly successful very quickly, you break records and the app is massively popular... in that case -in any case, really- your top guy at least -if not the "four" of you-, will be sued for million$ by his current employer (check Lewandovsky, in the real world) and it is clear who will lose in court.
For those and several other reasons, this project is quite doomed as it is. If you are in the clear regarding rights and no proprietary intellectual property is stolen, it can work. In the current structure it would work ONLY for you guys, regardless how many you are, not for the public or the ICO investors, mind you. But you need to take the risk on the faith in the project, not on the price -- and, by the way, there are no other "comparable" ICOs. There hasn't been any ICO so far to fund an app like yours made by anonymous developers, or anyone, really. So just because you say it is cheap and you compare it with real world, proven, successful applications it doesn't mean yours are even remotely, best case scenario, even in that wall park.
Anyway, good luck with your project, you are going to need it. As it stands, so many red flags should keep any discerning potential investor quite far away from it, for it stinks to high heaven to amateurism -at best- outright scam -at worst-.