According to a press release from October 2017, the total amount raised through ICOs in 2017 reached $2,345,301,347 by the end of the third quarter—nearly 25 times the $96,389,917 raised in all of 2016. Among the thousands of projects, Genesis Vision, a decentralized platform for private trust management, attracted strong demand, reaching its $2.3 million pre-order target in just two weeks and closing early due to overwhelming interest.
Five Criteria for Choosing an ICO
The press release uses Genesis Vision as a model to propose five key factors investors should consider when evaluating an ICO:
1. Team Background: The founders of Genesis Vision, Ruslan and Dmitriy, won a blockchain competition at hackrussia.ru. Additionally, Aleksey Kutsenko, a FinTech expert on the team, is the CEO of Tools For Brokers, a company whose software is used by over 350 brokers and financial firms globally.
2. Track Record: Through its partnership with Tools For Brokers, Genesis Vision already has access to a large network of brokers and exchanges, providing a ready-made client base.
3. Industry Endorsements: The project has enlisted advisors with diverse expertise in finance, covering most potential obstacles.
4. Legal and Technical Audits: The company is incorporated in Ireland, a jurisdiction friendly to ICOs. Its smart contracts were audited by Zerion.io, and the entire project—including team vetting, legal, technical, and business plans—was audited and certified by the Financial Commission, a recognized licensing body.
5. Pre-Order Demand: Genesis Vision’s pre-order campaign, originally scheduled to end on October 15, 2017, was terminated early after hitting its $2.3 million target in just two weeks, indicating strong market validation.
Vision and Market Opportunity
Genesis Vision aims to address common problems in the trust money management industry—fraud, lack of transparency, and heavy regulation—by leveraging blockchain technology. The platform intends to connect money managers, brokers, and investors worldwide in a decentralized, transparent ecosystem. It will offer a simple, secure way for users to invest in a range of assets using cryptocurrencies, targeting the growing digital-native investor demographic.
This is a paid press release. Readers should conduct their own due diligence before taking any actions related to the promoted company or its affiliates.