CrowdWiz ICO

Simon Thorbjørnsen asked 1 year ago

What’s your opinion of the CrowdWiz ICO?

1 Answers
Steven Hay answered 1 year ago

Hey Simon,
There are so many ICOs that it’s hard to keep up. I’d never heard of CrowdWiz before but I searched it. The concept seems OK and the team looks like they can pull it off.
I’d say the market for this exists. A lot of newbs are greedy for those crypto gains they’ve heard about but have no idea what to buy… The goal seems to be to attract newbie crypto investors with the promise of massive crypto gains by letting “the crowd” pick their altcoin moonshots. I guess if they have solid marketing, they could get some traction there..
I’m just not sure why newbs would trust this over a platform like eToro or even a subscription newsletter. What utility does doing this in a blockchain provide? Is it cheaper than eToro or a newsletter? Will it deliver better results? Is the social side better? Remember, newbs don’t know or necessarily trust blockchain, so you need to give them a good reason to take the risk on a new company in a new field…
These are the kind of fundamentals you should consider before investing in this. There are a lot of “take existing thing and blockchain it and ICO the token” projects; does crowd-investing actually benefit from being blockchainized or it just hype?
Even though the project could deliver short term gains on hype, that doesn’t mean it’ll work in practice over the long term. Ultimately their success will depend on their performance against Bitcoin or some kind of crypto market average. Also consider that ICO fatigue is setting in at this stage (only so much money to go round for all these competing ICOs) and that the regulatory risks are looming.

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