Firm Hopes to Fight Crypto Ad Ban With ICO Website Designed For Companies and Consumers
A company says ICO tracking websites can help startups struggling to gain publicity after tech giants banned crypto advertising.
A website that tracks initial coin offerings (ICOs) says its platform can help crypto startups reach potential investors amid a recent clampdown on advertising imposed by some of the biggest players in Silicon Valley.
Facebook fired the starting pistol at the end of January by declaring it will start banning ads for cryptocurrencies and ICOs which deploy “misleading or deceptive promotional practices.” Last month, Google announced it was updating its Financial Services policy- meaning no crypto-related ads will be accepted from June. Twitter then followed suit and said it was motivated by user safety.
ICObazaar says the ban is impeding exciting projects at a time when the market is flourishing, with fledgling businesses losing access to one of the cheapest ways of reaching the public at large.
These “new challenges” in advertising come as investors struggle to navigate opportunities amid regulation concerns, but ICObazaar argues trackers like its own bring compelling advantages for consumers and companies alike.
Benefits of ICO trackers for businesses
The company says crypto startups which use an ICO tracking website to publicize their offering have a greater chance of ensuring that only accurate information makes its way to prospective investors. This is because every project has the chance to submit details about their crowdsale to the platform directly.
Although the latest restrictions on advertising by internet giants caused jitters in the crypto markets, ICObazaar argues that using niche websites could be more effective in yielding results, in part because dedicated investors are likelier to visit specialized platforms. By contrast, traditional campaigns through Internet giants can be seen by millions of people, even though just a small percentage might be interested in making a financial commitment.
Finally, many ICO tracking websites independently rate the projects on their platforms and a good score can improve their standing and result in greater levels of investment. The company says these advantages can be obtained at a “reasonable price.”
Goal to help consumers find viable ICOs
For prospective investors, ICObazaar claims its platform can prove invaluable because of how it performs due diligence to determine whether ICOs are viable. The company says this is achieved through the use of expert analysis on past, current and future offerings, as well as reviews from engaged and impartial investors who use the website regularly.
The website says it wants to alert users to the most trusted and promising crowdsales as determined by their peers, helping reduce the risk that someone will risk their capital on a fraudulent project.
Every listed project is accompanied by a rating in five areas, with the highest score being five: the team, the project’s website, their idea and white paper, media and community, and technical implementation. An independent expert provides a sixth rating using their own criteria. The best rating that can be achieved by an ICO is AAA- representing an investment-grade opportunity with a “reasonable potential to return profit.”
Projects can also be categorized as speculative, high-risk and default. The lowest score is D, and visitors to ICOs with such a poor rating are warned these startups are “major investment red flags” with flaws in their business model and a “minimal chance that projects will develop profitably.”
Crunching the numbers on ICOs
According to ICObazaar’s website, more than $1.7 bln has been pledged in ICO campaigns to date with more than 90 crowdsales taking part over the past month. The ICO which broke the most records was Status Network, an open-source messenger and browser allowing users to interact with Blockchain-based apps running on Ethereum.
ICObazaar says its goal is to guide cryptocurrency holders to successful initiatives, making its platform “perfect” for businesses seeking input from informed investors.
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