This last week has been marked by a couple of major companies announcing plans to launch ICOs, adding to the ever-growing list of projects around the world.
The maker of the famous Beats headphones, Monster Products, recently filed an ICO to raise about $300 million dollars to counter net losses. The company has been mired with financial troubles after losing a lawsuit with Apple. The company says their MMNY “Monster Money” token will serve as an alternate credit card processing solution as they shift to using blockchain to build out ecommerce and business operations.
Down towards the southern tip of Africa, Zimbabwean virtual currency exchange Golex is moving forward with an ICO. The company ran into trouble after the nation’s Reserve Bank banned the processing of cryptocurrency transactions by banks, but was able to secure a court ruling that ensured the exchange would not have to halt operations. Now Golex is planning to expand to Kenya and Uganda and raise $32 million through a token sale.
ICOs continue to remain a popular way for companies to raise money for projects and ultimately power a shift towards blockchain related endeavors. Many also find the publicity and notoriety that comes with an ICO announcement useful.
We’ve been keeping a close eye on a some upcoming ICOs that look interesting and seem to have solid growth prospects and potential.
However, it’s important to remember that we are not financial advisors. All we are doing is just presenting information about different ICOs that can be found by researching on the internet. Please speak with an experienced and professional financial advisor if you are interested in investing in cryptocurrency or an ICO.
This week we’re going into depth on Open Source University (EDU), The Rogue Project (RGE), and Zan Coin (ZAN). We looked at different elements for each project, like the whitepaper and team members, to understand the growth potential and future prospects for the company and idea. Signing up for a Cryptosumer membership gives insight into the below ICOs and why the warrant further investigation.
Open Source University is looking to be a distributed database for skills and certifications, all in order to connect businesses with the right potential candidates. The Rogue Project intends to revolutionize the coupon market via smart contracts to ensure that coupons are verifiable, trackable, and easy to monetize. Zan Coin is being created to help consultants pay freelances faster and encourage employee motivation through buy-back options.
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