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The project has said it does not want to participate in an ICO ecosystem that ultimately harms its investors. The project said the ecosystem had moved away from its roots as a community-driven affair, and that “power had shifted to early professional investors and hype factories promoting ICOs to retail investors.” Cofound.it was established just over two years ago to provide the ICO ecosystem with a transparent, community-driven funding model.
“The core of the Cofound.it business idea was how an alternative VC ecosystem could be built around crowdfunding, democratization, transparency and high quality,” said Zakrisson. Zakrisson believes that many people lose out because projects that now go down the ICO route are doing so because they failed to get funding from other means, such as through private sales. Cofound.it reportedly reviewed over 350 projects this year and only approved 11 for the platform.
Unfulfilled promises led to declining project valuations and high-scale losses; investor sentiment turning against the current ICO model. The decision for something like Cofound.it, a crowdsourcing ICO fund, to shut up shop highlights a shift away from the original fundraising model used in the sector. The decline in public crowdfunding, and the closing of idealistic projects like Cofound.it, is a blow to the ecosystem.
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Join- https://t.me/cryptosignalalert
Join- https://t.me/btctradingclub
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For more Bitcoin Crypto Currency news Latest Update Crypto Currency Training Auto Trading Crypto BOT & Crypto Trading Signals join above given telegram channel.
The project has said it does not want to participate in an ICO ecosystem that ultimately harms its investors. The project said the ecosystem had moved away from its roots as a community-driven affair, and that “power had shifted to early professional investors and hype factories promoting ICOs to retail investors.” Cofound.it was established just over two years ago to provide the ICO ecosystem with a transparent, community-driven funding model.
“The core of the Cofound.it business idea was how an alternative VC ecosystem could be built around crowdfunding, democratization, transparency and high quality,” said Zakrisson. Zakrisson believes that many people lose out because projects that now go down the ICO route are doing so because they failed to get funding from other means, such as through private sales. Cofound.it reportedly reviewed over 350 projects this year and only approved 11 for the platform.
Unfulfilled promises led to declining project valuations and high-scale losses; investor sentiment turning against the current ICO model. The decision for something like Cofound.it, a crowdsourcing ICO fund, to shut up shop highlights a shift away from the original fundraising model used in the sector. The decline in public crowdfunding, and the closing of idealistic projects like Cofound.it, is a blow to the ecosystem.
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