After 80 per cent (probably more) ICOs failed, the industry knew there had to be a better way to help viable projects succeed. Exchanges expose new projects to millions of investors instantly making the IEO a perfect partnership for mutual blockchain success. According to data from CoinSchedule.com, close to $180 million had been raised through IEOs in 23 offerings in the first quarter of 2019.
IEOs have huge potential from a growth perspective. Bill Shihara, CEO of US-based exchange Bittrex believes that IEOs have the potential “to be larger than the ICOs of 2017.” IEOs have essentially fully replaced last years trend of Initial Coin Offerings, ICOs as a form of crowdfunding for projects. Bittrex, a leader in the industry, fully vets and supports projects through the IEO process. Alterdice, another reliable asset exchange, has announced their support of projects looking to crowdfund.
Let’s explore some IEO Advantages
Exchanges are putting their reputations at risk listing IEOs. Since they are instantly sold on the exchange only to their customers, exchanges must complete extensive due diligence to ensure they are not left promoting a token positioned to fail.
Real Business Cases
Companies presenting their tokens on exchanges must show a true business case for their project’s long term success in the global marketplace not relying solely on the success or failure of secondary trading.
Exchange listings were a huge barrier to traditional ICOs which led to major sell offs from airdrops and long liquidity events for investors. IEOs remove this barrier which has shown to positively impact token price.
Strong Companies Thrive
IEOs, when designed by exchanges to benefit growing companies, save companies a great cost on fundraising helping them spend more on development and meeting user expectations with their products. Bittrex is a great example of an IEO launchpad with a structure that benefits companies long-term success.
XR Web is a platform that allows you to interact with geo-specific augmented reality applications. As Bankless Times has explored in the past, there are many ways augmented reality will affect the future of business. Users can interact with these apps securely, lease out sections of land to apps and earn passive income from these apps (staking) or earn and spend loyalty points across applications as they use them.
Team includes industry leaders such as Hap Klopp, Ex-CEO of The North Face; Manindra Majumdar, MBA with Accelerator experience; James Sholtz, former Samsung engineer; and Kyle White, leadership for $16B in market cap.
Real Business Cases
Relationships with Intel, Google Developers Launchpad, FbStart, Snap Accelerate, Microsoft BizSpark and the Nvidia Inception program through various incubators and startup accelerators and are gearing up for the big time. XR Web is launching an ambitious platform, in a massively growing industry that is on the cusp of hitting mainstream.