Cryptocurrency airdrop | What is a crypto airdrop?

Cryptocurrency airdrop | What is a crypto airdrop?

Welcome to the future,

where you can create money from nothing! Well not nothing. But it certainly feels like it. Indeed, these days you see dozens of crypto airdrops. And many people are now looking to get free token everywhere. Because it’s free of course, it’s made from air. So what is a cryptocurrency airdrop?

What is a crypto airdrop?

Let’s start with the airdrop cryptocurrency meaning. A? ?crypto airdrop, short of cryptocurrency airdrop,? ?is? ?an event during which ?a? ?coin project distribute?s?? ?tokens or? ?coins to? early adopters, ?for free. And there aren’t many requirements to get the free tokens or coins. But you may have to give up a little bit of privacy… Universa.io for example, was asking users to share their Facebook contact list for example. Or POW Token was asking to create a post about their coin airdrop. Also, you may have to have coins from the specified blockchain in your wallet. OmiseGo, which made a very popular airdrop, required participants to have Ethereum for example. A coin airdrop may be done on any blockchain. But the most popular ones are bitcoin and ethereum.

Beware of scams!

Anyone can offer a crypto-airdrop, and that includes unscrupulous people. If a developer asks for your private keys, don’t share anything. Otherwise your coins will be stolen!

How does a cryptocurrency airdrop works?

Now that you know the crypto airdrop meaning, how does it actually work? Airdrops are a brand new format to distribute tokens in the crypto world. And there’s no standard rules yet. Maybe in the future, with the increasing popularity. But right now, each team offers a different set of rules. Despite a few websites displaying the rules, you may have to contact the developer directly to learn more.

Midas’ touch

You should register to bitcointalk forum to keep updated about crypto airdrops, or even apply to some of them. And make sure you’re an active member with a few posts. Because the developer may decide to kick out the noobs…In the case where you need to have specific coins in your wallet, the dev team will make a photo of the corresponding blockchain. And people holding the cryptocurrency in their wallet at that time will be entitled to get the tokens. While sometimes you may get the tokens automatically, you could also have to claim them on the project’s website.For the airdrops on social media, you may have to share or retweet the link of the project. Therefore, you may need a certain number of followers to be eligible. Some developers also require to share your contact details.

Surprise airdrops, really?

This is the best part! Indeed, you may have received some free coins, without even knowing it. I mean until you check your wallet. Because some platforms did give away some tokens to the users holding some of their coins, just like that. I’d recommend you to hold a little bit of each coin, at least the most popular ones. Because the more coins in your portfolio, the more freebies you can get!

Why TF do people give away free tokens?

To raise awareness for their crypto-currency project, of course. Indeed, it’s free advertising too. And to create a community around it. Because if you give some coins to a user, he’ll get involved to make it bankable. Finally, to cause the new currency to appreciate. Finally, it could be also to create a lead database for a cheap price. Indeed, these companies collect all the data they can in exchange of a few worthless tokens… You know the saying: If you’re not paying for it, you’re the produtc!

What to do with my airdropped coins?

Youhou, you got some free coins! But what now? Well, at the beginning there’s nothing much to do. Because nobody knows this currency… And it’s not even available in the exchanges. Sure, you can receive and send some coins with your friends, but what for? Despite the value the project announces, it’s really worth nothing. It becomes interesting when the new crypto arrives in the exchanges. And you can know the real price of what you got. The chance is that most people want to sell their coins, to get “real” money from it. So the price may not be up to your expectations… But you don’t have to sell your free crypto, you can hold it and use it later.

How do I keep my new cryptocoins safe?

First of all, you need a crypto wallet, to be able to receive, hold and send the new crypto. Then you have to own the private keys to your coins & tokens. Otherwise they’re not yours, period. Also, you can share your crypto address, to receive your cryptocurrency airdrop. But you must never share your private key! If you do, someone will steal your coins, for sure.

Article Produced By
Best Bitcoin Alternative

https://bestbitcoinalternative.com/resources/cryptocurrency-airdrop/

Bitcoin To $96,000, XRP To $0.01 By 2023, ICO Advisor Satis Group Estimates

Bitcoin To $96,000, XRP To $0.01 By 2023, ICO Advisor Satis Group Estimates

What bear market?

Despite downward pressure on the price of bitcoin for most of 2018, ICO advisory firm Satis Group sees bitcoin's value proposition and market depth as strong vis-a-vis other crypto assets, and is estimating that its price could hit $96,000 by 2023 and $144,000 by 2028. The predictions come in a new report on crypto asset valuation in which overall crypto market capitalization is estimated to grow from approximately $170 billion currently to $3.6 trillion over the next ten years. Despite the broader bitcoin and crypto bullishness, the report’s predictions for tokens like Bitcoin Cash, XRP and application-specific utility tokens are quite downcast.

The authors see BCH trending down to $268 in five years’ time and forecast minimal traction for “cryptoassets which attempt to inherit brand recognition and provide minimal technological advantage to incumbents.” Ripple’s XRP token, predicted to fall to $0.01 by 2023, doesn't get much love either, with the authors seeing “Little value in XRP and cryptoassets which are misleadingly marketed, not needed within their own network, and have centralized ownership/validation.”

The report’s outlook on so-called utility tokens was is also less than optimistic. While the authors foresee application-specific tokens ultimately penetrating markets like information technology spending, gaming and gambling, the ability of these tokens to hold or increase

in value is limited:

“(T)he high velocity of these applications combined with a lack of value-retaining construct will result in them either: 1) being not used and sinking in value, or 2) having high use, and in turn lower value as a result of the high velocity.”

Across all crypto asset sectors, Satis Group is most heavily bullish on privacy coins such as Monero – which it estimates will increase to $18,500 by 2023. “Although (p)rivacy networks are newer entrants, we believe the network effects seen from the likes of BTC earlier on will be repeated within dominant coins here,”

the report notes, adding:

“Not only do these coins target the same large and lower velocity store of value market as BTC and (c)urrencies, they present a much deeper value proposition within those markets.”

Upward price pressure for these currencies will come from global geopolitical events like capital controls, currency devaluations and other financial turmoil. “The use cases within the (p)rivacy markets are incredibly sticky and feed on adoption, especially when regulators and law enforcement are making efforts to increase forensic penetration into public networks like BTC."

Article Produced By

Aaron Stanley

I write about business and regulatory aspects of blockchain and crypto. I am strategic communications lead at Sweetbridge, a company that is building a blockchain protocol stack for supply chains and commerce. I most recently served as Washington correspondent for CoinDesk, where I covered the business applications and legal and regulatory aspects of blockchain technology and cryptocurrencies. Prior to that, I spent four years in the Financial Times Washington bureau, where I helped cover politics, regulation, trade and business enterprise for the print and online editions, as well as specialty publications like FT Wealth, EM Squared, beyondbrics, Business Life and FT Weekend. I've also been extensively published in casino gaming trade publications, including GamblingCompliance, CDC Gaming Reports and Global Gaming Business. I hold an M.A. in International Commerce and Policy from George Mason University in Fairfax, VA and a B.A. in Social Sciences from The College of St. Scholastica in Duluth, MN.

https://www.forbes.com/sites/astanley/2018/08/31/bitcoin-to-96000-xrp-to-0-01-by-2023-ico-advisor-satis-group-estimates/#7c8683681490

What do you think about crypto airdrops? Are they profitable?

What do you think about crypto airdrops? Are they profitable?

 

If you are a fan of action movies just like myself,

then the first image that comes to mind whenever ‘airdrop’ is mentioned, may be airplanes dropping war machines or relief materials out of the sky. However, this is far from what it means in the cryptocurrency space. I bet you’ve been seeing the word [airdrops] attached to a lot of cryptocurrencies, and particularly ICO projects. So, what really is an airdrop, in relation to cryptos?

An airdrop is a distribution of pre-mined coins (cryptos) to early supporters of a project. Think of it, like free coins waiting to be picked up for doing close to nothing. Yes, that’s right. Getting free cryptocurrencies from airdrops requires little to no effort. As crazy as this may sound, many crypto enthusiasts are making money from airdrops. And while it may appear illogical for companies to throw some cash away in the name of airdrops, the entire process is actually a core marketing strategy. After all, nothing is free.

Blockchain-based businesses, new and old, often use airdrops as a means to create some buzz about their projects, or reward loyal HODLERS/supporters. The idea of getting some money for simply inputting your email, joining a Telegram group, and performing some basic tasks like twitting about a project sounds interesting. We all like easy money, don’t we? In the process of doing this, we unknowingly let out some of our details such as email, Facebook or Twitter username, and probably phone number. It’s a win-win for both parties.

Getting Airdrops

Airdrops are free money. To participate in them, you’ll need the following:

  • An active Ethereum wallet (most airdrops are ERC20 tokens, although they can come in other forms, so you may need another wallet as specified by the company)
  • Telegram/Twitter/Facebook account (basically, you will be required to perform an easy task, which could involve downloading an app)
  • Email address

That’s as simple as it gets. Next is to find out which projects are doing airdrops, join up, and perform the required tasks. Tasks typically range from just filing a user form (with your Ethereum wallet), twitting about the project, liking and commenting on Facebook, or performing a video review, amongst others. For a list of latest airdrops in the crypto space, visit All Crypto airdrops rated for you and join the mailing list. It’s as simple as ABC.

Article Produced By

Nadim Ahmeed

https://www.quora.com/What-do-you-think-about-crypto-airdrops-Are-they-profitable

Colorado’s ‘ICO Task Force’ Levies Orders Against 3 Crypto Startups

Colorado’s ‘ICO Task Force’ Levies Orders Against 3 Crypto Startups


Colorado Securities Commissioner Gerald Rome
has issued signed orders to show cause that three cryptocurrency businesses have allegedly offered and promoted unregistered ICOs in Colorado.The investigation is part of a recent crackdown against fraudulent ICOs by officials of the Division of Securities under Colorado State’s Department Of Regulatory Agencies (DORA).

‘ICO Task Force’ Targets Project Marketing Fake Forbes Partnership

The officials are part of an “ICO Task Force” put together in May by Commissioner Rome with the mandate of identifying individuals and companies with fraudulent or unregistered businesses that present their customers with an investment risk. The three companies that are subject to the latest order are Bionic Coin, Sybrelabs Ltd., also known as CryptoARB, and Global Pay Net, also known as GLPN Coin and GPN Token.

Similar orders have previously been received by Bitcoin Investments Ltd., also known as DB Capital, EstateX, Bitconnect, and Magma Foundation, also known as Magma Coin. Bionic Coin promotes an ICO known as “Bionic” or “BNC,” and it promises to enable instant cross-border payments to anyone, as well as simplify the process of buying software and electronic devices. The ICO site offers investment-related information about the ICO including a timeline roadmap, a technical whitepaper, and FAQs.

It also makes promises of returns to investors, saying, “Bionic will grow your money without any effort.” On the site, a number of purported media partners are listed including Forbes magazine, but upon investigation it was discovered that no such reference to the company exists on any of the sites it listed. Users are also incentivized to promote the ICO on their social media accounts with promises of receiving up to 10,000 BNC tokens per post. Most significantly, the site has no associated physical address or control person identified.

‘Cryptoarbitrage Robot’

Sybrelabs Ltd., which claims to be based in Cambridgeshire, England, promotes an unregistered security in the form of an investment pool that allows users to trade on cryptocurrency exchanges through what is termed a “cryptoarbitrage robot.” According to Sybrelabs, this is a tool that allows the company to “automate many factors occurring with effective arbitrage on several instruments.” It offers huge profit percentages for a minimum participation of $25.00, and it solicits “active investment portfolios” of $25,000 or more. Like Bionic Coin, it encourages members to promote the scheme and its website also provides marketing materials including a PDF presentation, online banners, and souvenir products.

Global Pay Net markets an ICO purporting to sell “GLPN Coins,” which allegedly provide a blockchain-based international financial platform. It claims that GLPN tokens are “full-value assets that represent one’s share in the business” and that “investors receive 80 percent of the company’s profits.” Multiple cryptocurrency professionals and personalities are listed on the site, purportedly as having involvement in the project, but two of them have denied that this is the case.

It also claims that it has a filing with the SEC’s EDGAR database, but this cannot be verified because the phone number listed for the 2011 filing is disconnected, and no business filing is registered in Washington State where the company is supposedly located. Like the other two, it also offers inducements for individuals to promote it using their personal social media accounts, and it provides marketing materials on its website. Earlier, CCN reported that “Operation Cryptosweep,” an initiative of the North American Securities Administrators Association (NASAA), is actively investigating over 200 ICOs across the continent.

Article Produced By
Bitcoin Crime

https://www.ccn.com/colorados-ico-task-force-levies-orders-against-3-crypto-startups/

An $8 Million Airdrop Ran Out of Tokens – What’s Next Is Anyone’s Guess

 

An $8 Million Airdrop Ran Out of Tokens – What's Next Is Anyone's Guess

"Scarcity" may be a crypto buzzword,

but "shortage" has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February.

At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside 40 percent of its total tokens (about $6.2 million) for the founding team and future development. Yet, due to a rising number of strategic partners and interest in its token, the project announced on Medium, "The demand for UUU tokens has exceeded our current designated holdings."

The post continued:

"The team now faces a problem: leaving our ecosystem tokens intact, how do we pursue these new opportunities to grow the U Network ecosystem?"

The result is a problem that seems to have little precedent. The structure of ICOs and airdrops varies widely across projects, particularly with regard to the number of tokens minted, distributed and maintained by a given company or non-profit. While some projects do not limit the number of tokens that can be created within their blockchain ecosystem, others, like U Network, choose to implement a cap on the total supply.

For U Network, the 10 billion limit was implemented because the content-centered project, which aims to "help online content platforms better align with the interests of their users," wanted to "provide sufficient incentives to community members." While U Network's dilemma is currently an outlier in the industry, other blockchains that have implemented hard caps on their ICOs and airdrops may soon find themselves in a similar quandary as they begin building their ecosystems. Likewise, U Network's situation may force similar projects to confront an even more difficult question: what happens when your startup runs out of its own tokens?

Method to the madness

Incentives are especially important in blockchain systems, and so far, there is no established methodology by which projects can determine how many tokens to issue and keep. That's according to Joshua Gans, a professor of strategic management at the University of Toronto, who told CoinDesk: "There is no metric." "If you want to use tokens for incentives, the amount of the incentive is dependent on the price of the token," he explained. "At the start, it is hard to predict that." Gans added that establishing the amount of tokens projects should keep is equally as unsystematic.

According to Catherine Tucker, a professor of management and marketing at MIT, projects face a doubly difficult situation in the highly scrutinized industry. Not only do they lack methodologies for determining token supplies and holdings, they must also consider the perception of their actions. "I think this case illustrates the huge trade-offs founders face," she told CoinDesk. "If they keep too many tokens in reserve, they are often accused of being greedy. But if they give away too many tokens then they lose a crucial lever they need to incentivize people to use their platform or service in the future."

The buy-back

As such, remedying a shortage of tokens looks to be a precarious task. Solutions such as increasing the token supply of the network could influence the token's price, angering investors and jeopardizing their trust in the project. So instead, U Network plans to refurbish its holdings by conducting a token "buy-back." In practice, this means it will re-purchase 1,000 ETH worth of UUU (about 284 million tokens at press time) from current token holders over the course of several stages.

"For the first stage we would be buying back 200 ETH worth of UUU between the price range of 0.004 and 0.005 USD," U Network told CoinDesk. At press time, one UUU token was valued at $0.001569. As for how the project determined the number of tokens to re-purchase, it explained, "We believe it's a reasonable amount. Not too high to affect market price, not too low to affect the expansion needs."

From Gans' perspective, the buy-back is "a good way to go." He went on, "You issue the tokens and retain some other currency to use for buy-backs if you make an error. The other option is to give yourself the ability to issue more tokens for incentive purposes but that is ultimately the same as retaining some tokens at the outset." And as for what the rest of the industry could do to avoid U Network's dilemma,

MIT's Tucker suggested:

"If I had to give advice to founders, it would be to think about the uncertainty involved with the project. In those cases of heightened uncertainty, it might be best to limit the initial distribution of tokens until the business plan has evolved and been tested."

Article Produced By
Annaliese Milano

https://www.coindesk.com/8-million-airdrop-cryptocurrency-run-out-tokens/

NASAA launches an investigation into over 200 allegedly fraudulent ICOs

NASAA launches an investigation into over 200 allegedly fraudulent ICOs

Not the NASA you were thinking about

The days of the pump and dump ICO may be numbered

: the North American Securities Administrators Association (NASAA) is on the warpath, taking action against potentially dodgy cryptocurrency schemes. In an announcement made yesterday, NASAA revealed it has opened over 200 cases investigating possibly illegitimate, illegal, and fraudulent ICOs and cryptocurrency related businesses since its launch in May 2018. All under the codename “Operation Cryptosweep.”

NASAA is a collective task force made up of representatives from the US, Canada, Mexico, Puerto Rico, and the US Virgin Islands. Its aim is to uncover illegitimate cryptocurrency scams, and protect potential unwitting investors. “State and provincial securities regulators are committing significant regulatory resources to protect investors from financial harm involving fraudulent ICOs and cryptocurrency-related investment products and also are raising awareness among industry participants of their regulatory responsibilities,” said NASAA President and Alabama Securities Commission Director Joseph P. Borg, in the announcement.

The point NASAA makes is that, if cryptocurrencies qualify as securities then they must be subject to, and apply for specific regulatory certification, or they must apply for exemption. Either way they must acknowledge this regulatory process in some way, the reality is, many do not. A full list of all those being investigated as part of “Operation Cryptosweep” can be seen here. It seems the primary reason for investigation is due to selling “unregistered securities.” The rise of the ICO presents a challenging future for cryptocurrency investors, and the general public alike. With a widely unregulated field, there are few safeguards to protect investors from dodgy scams.

At Hard Fork we recently reported how most of the top 100 cryptocurrencies don’t actually have a working product, giving investors no return for their money. What’s more, cryptocurrency exit scams exist, which specifically aim to raise money and run. They’ve illegitimately taken over $100 million from investors. Supposed regulation is one of blockchain and cryptocurrency’s most challenging issues right now. Whether for or against great control of our digital assets, hopefully “Operation Cryptosweep” will help to legitimize the field, and weed out the crooks.

Article Produced By

Matthew Beedham

https://thenextweb.com/hardfork/2018/08/29/operation-cryptosweep-ico-cleanup/

CryptoCurrency Airdrops: Where Could The SEC Stand on Them?

CryptoCurrency Airdrops:
Where Could The SEC Stand on Them?

We are all aware of the common practice in the cryptocurrency ecosystem called Airdrops.

These are essentially free giveaways of coins that are “airdropped” on a group of cryptocurrency enthusiasts. It is the quickest way to distribute your coins in the market short of doing an Initial Coin Offering (ICO). However, how do Airdrops fit into the current regulatory framework as laid out by the Securities and Exchange Commission? Could airdrops be a less burdensome way for the developers to fund their projects? We will take a look at the current regulatory environment and how cryptocurrency airdrops are likely to fit into that.

How Airdrops Work

The mechanics of an Airdrop is really pretty simple. A developer team will take a snapshot of an already established cryptocurrency chain. This will then give them an overview of the addresses that are currently on the chain. They will then release their free tokens to all of those holders. The developers of that token will “fork” their chain from the legacy chain and then build off of that technology. Some of the largest cryptocurrencies available right now are the result of these including Bitcoin Cash (BCH).

It is also really quite simple to initiate an airdrop. For example, you can head on over to Open Zeppelin and use one of their smart contract templates for the the Ethereum blockchain. You will then take a snapshot of the blockchain and you will distribute a certain number of the coins in some sort of a ratio to the ETH that they already hold. The developers will also hold onto a certain percentage of all available coins.

Why Airdrop Coins?

Apart from distributing your coins as widely as possible, there are other really important incentives for a project to airdrop coins. It is an easy way for the developer team to fund their project. Yes, they are not raising crypto or Fiat through an ICO or a seed round, but they are keeping a large stake in the coins that they have airdropped.

If the project keeps doing well and the public starts to take notice then the value of the tokens is likely to increase. Hence, the team funds will become valuable and they can then sell some of these tokens to fund the project in question. They are also a lot more cost effective than completing an ICO or trying to secure funding in a seed round. These methods of financing are now becoming incredibly expensive as investors are demanding much more than a simple whitepaper. Airdrops could also be less burdensome in terms of regulation.

Securities Regulations and Crypto

If a cryptocurrency asset is classified as a security then it falls under the jurisdiction of the SEC and hence will have to meet all the requirements. Whether it is classified as such depends on whether it passes the Howey Test. This is the rule of thumb that is used to determine whether an asset will be classified as a security. More particularly, an investment contract is

defined as:

A contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party

Under this definition, it is quite clear that many of the ICOs today could be classified as such. In fact, there was even speculation that Ethereum may have been classified as a security when they did their ICO. Yet, how are the airdrops viewed by the SEC?

Airdrops And Securities

Not surprisingly, there is no legal precedent for giveaways.Airdrops are free giveaways of the coins and the ICO developers are not raising funds from the population. The investors are not putting any funds at risk and hence they cannot claim that they had expectations of a return on their investment.However, what about the cases when the tokens eventually hit the market and secondary investors buy the tokens on an exchange? Here they are indeed buying these tokens in the expectation of a profit.

While they may be expecting a return on their investment, can they really be classified as investing in a “common enterprise”? Are these investors not just speculating on the price of an asset much like they will do when the purchase Forex, Commodities or even other cryptocurrencies such as Bitcoin. Moreover, can this really even be considered investing? Tokens are not like equity in a company or debt securities. Many of them are “utility tokens” meaning that they have an underlying use case. Hence, one can realistically claim that they are buying the token for a purpose other than speculation.

Those who are buying the tokens on an exchange are buying it from other people and not from the developers themselves. Hence, you cannot claim that the developers are the main recipients of the investors’ funds. All this means that it would be incredibly nonsensical for the SEC to claim that an airdrop is a security. This could be akin to them claiming a free giveaway of any good on the street can also be considered a security. Moreover, what will the SEC do to those coins that have already been airdropped and have no central authority? Who will they target in any sort of enforcement action when the network is decentralised?

Conclusion

Airdrops are a quick and easy way for developers to get their coins out into the ecosystem and start work on the project. The SEC has still not given their judgement on ICOs yet but many think that it is only a matter of time. Indeed, it seems that they are getting that much more active with their enforcement. There have been a number of ICOs that have received cease and desist letters in operation “crypto sweep”.

So, should airdrops be the preferred option? Not quite.

While they are less burdensome, an airdrop is much less effective of an fundraising method as an ICO or other methods of seed funding. The development team will still have to wait before there is any sort of market for their coins before they can sell some and use the proceeds. Building ground breaking technology is not cheap and these developers still have to put food on the table. In the end, it will have to come down to the needs, preferences and risk that the developers are willing to take.

Article Produced By
Editorial Team

Editors at large. Posting the latest news, reviews and analysis to hit the blockchain.

https://www.coinbureau.com/analysis/cryptocurrency-airdrops-sec/

 

SIX Group Executive Questions Launch of Crypto Trading, Expresses ICO Optimism Instead

SIX Group Executive Questions Launch of Crypto Trading, Expresses ICO Optimism Instead

Thomas Zeeb, CEO of securities services

at Switzerland’s top stock exchange SIX, revealed that the firm is unlikely to launch crypto trading, Business Insider reported August 17. According to Zeeb, cryptocurrencies are really “not a priority” at the moment, taking into account the fact that there are a number of other platforms that provide Bitcoin (BTC) trading services. Moreover, Zeeb noted that there are still some "reputational" issues surrounding Bitcoin, also suggesting that Bitcoin is all about “hope and hype.”

However, the head of securities services at top Switzerland’s stock exchange expressed optimism about the concept of digital assets. Zeeb stated that digitals coins such as Initial Coin Offering (ICO) tokens are “here to stay,” with its mass adoption coming in around “five years.” In the interview with Business Insider, Zeeb compared digital currencies with derivatives trading, claiming that he is "absolutely convinced" that crypto is "where derivatives were in the early '90s." According to Zeeb, digital assets’ adoption will come “a lot faster than the 30 years it's taken derivatives.”

Zeeb said that the upcoming digital assets exchange — currently being developed by SIX — aims to introduce a regulation-focused way of trading ICO tokens in order to enable participation by institutional investors. He stressed that that the main task of the exchange would be filling the gap between crowdfunding and ICOs, which is now usually taken up by venture capital or private equity.

Zeeb stated,

"There is demand from institutional clients to find a way to legitimize and bring asset safety into play.”

Speaking to Business Insider, Zeeb encouraged the digitization of existing securities or exchange-traded funds due to the ability to enable fractional ownership, citing the benefits of turning some exotic assets such as art galleries collections to tokens. In early July, SIX Group first officially announced its plans to launch a “fully-regulated” cryptocurrency exchange next year using blockchain technology to create a “digital asset ecosystem. Later in July, SIX also revealed it has started considering the possibility of launching crypto trading services on its trading platform, which is set to be launched by mid-2019.

Article Produced By
Helen Partz

Helen is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2017, she joined Cointelegraph as a writer.

https://cointelegraph.com/news/six-group-executive-questions-launch-of-crypto-trading-expresses-ico-optimism-instead

Indiegogo quietly canceled its first ICO after raising $5.2 million

Indiegogo quietly canceled its first ICO after raising $5.2 million

Trouble in paradise

 
Indiegogo’s first foray into the world of blockchain and cryptocurrency has gone awry

– but the good thing is that it appears investors will at least get their money back. In an email sent out in July, Indiegogo’s token brokerage partner, MicroVentures, informed investors they will not be receiving tokens – but refunds instead. From the looks of it, the reason for issuing refunds are recent changes in regulation.

Hard Fork has since obtained a copy of the message, which you can read below:

Thank you for participating in the FCFL pre-sale. If you have been following the crypto and ICO markets for the last 6 months you already know that the regulatory environment has been rapidly changing. The SEC has provided multiple comments regarding security and utility tokens, but has not provided formal guidance or a compliant framework on how to conduct these offerings.

During this time, your investment was not distributed to the company. This was done to ensure that MicroVentures navigated through the regulatory climate prior to finalizing the offering. While we believe the initial path taken was compliant, we have decided the best way to ensure compliance is to unwind the investment opportunity and return investor capital.

We are beginning the return process today.You may hear from someone on our team if we need to verify return instructions on how to return your investment capital to you.

Not to be mistaken with yesterday’s security token offering for the rich, Indiegogo announced plans to branch out into initial coin offerings (ICOs) in a statement last December. Given its success (and some failures) in the crowdraising sector, the expansion into token offerings seemed like a good fit. The guinea pig was the Fan Controlled Football League (FCPL), an Indiegogo alum seeking to raise up to $5 million to build a community-run football league. In return, the company promised to distribute tokens to their investors. The token distribution was to be overseen by Indiegogo’s partner, MicroVentures. The announcement gathered tons of attention from media outlets, securing coverage from Fortune, CNBC, CoinDesk, TechCrunch, and even The New York Times.

“We want to bring a brand of trust to the entire industry, which we think will bring [ICOs] to the mainstream,” Indiegogo co-founder Slava Rubin told The New York Times in 2017. “Now, we’re ready to become the go-to platform for selling and investing in digital tokens and blockchain-based assets, and we can’t wait for you to join us,” Indiegogo’s announcement added.

Indeed, FCFL boasted about exceeding its crowdfunding goals, raising the equivalent of $5.2 million “in Bitcoin, Ethereum, and classic fiat currency.” Unfortunately, the tokens were never distributed to investors. In fact, it appears MicroVentures did not even consult with FCFL prior to informing investors about the botched token sale. According to FCFL CEO Sohrob Farudi, MicroVentures initiated the refunding process without FCFL’s approval. (We contacted MicroVentures for a clarification, but representatives were not available for comment as of time of publishing.)

“We would like to address the recent email that we understand some of you received from MicroVentures,” Farudi said in a July statement, referring to the refund message shared above. “We did not consent to that email being sent out. We have no way to communicate directly with the purchasers who participated in our presale [sic] on MicroVentures platform as MicroVentures has refused to give us any information about who the purchasers are in order for us to communicate with them.”

“If you were a purchaser in the MicroVentures platform offering, FCFL would be happy to hear from you directly,” Farudi added. “We want to ensure that MicroVentures is handling this unwinding that it initiated properly and treating any purchasers in the MicroVentures platform offering fairly.” For the record, other than the St Regis Aspen Resort security token offering from yesterday, FCFL is Indiegogo’s first and only experience in the blockchain funding space. Speaking to The Verge in August, Rubin said the FCFL token sale “went well” – despite MicroVenture’s intention to issue refunds.

Asked about what went wrong with the FCFL ICO, Rubin told Hard Fork “the [MicroVentures] email issued to investors provides all the context for the refund.” “For clarification, Indiegogo partnered with MicroVentures in 2016, an SEC-registered [broker-dealer], to help market and amplify offerings on their platform to our global audience,” he further clarified in an email to Hard Fork. “Indiegogo itself is not a registered broker-dealer, and in the case of FCFL, or any other investment offering, does not participate in investment related activities.”

Meanwhile, Farudi insists FCFL is yet to be “given a valid reason as to why MicroVentures cannot complete the offering.” Not exactly what one would call a smooth execution. In all fairness, Indiegogo is hardly the only company to have back-pedalled on a scheduled token offering due to regulatory crackdowns. Indeed, tons of blockchain startups – including messaging giant Telegram – have had to abort their public token sales.

Article Produced By

Mix in Amsterdam

Mix is a tech writer based in Amsterdam that loves cinema and probably hates the movies that you like. Tell him everything you despise about his work on Twitter or pitch him your terrible ideas via email.

https://thenextweb.com/hardfork/2018/08/24/indiegogo-ico-blockchain-cryptocurrency/

Top 6 Crypto Airdrop Platforms You Should Know

Top 6 Crypto Airdrop Platforms You Should Know

Airdrops are mainly distribution of tokens out to existing

or new holders as a marketing strategy to promote a product, service, coin, or exchange.Of recent, this act has become increasingly important and as more people, especially new people, the need for a platform which will regularly publish these airdrops are required.Here are recomended platforms which you can get notified of airdrop events and know exactly what to do to partake of the token distribution.

99airdrops.com

This crypto airdrop platform which was launched in 2018 has made a name notifying users of airdrops. It’s undoubtedly one of the best places to get information about airdrops, but more importantly, how to participate in them. Every information is made available to you, all relevant information to help guide through redeeming and also various news article around the airdrop on the web are published. The platform is easy to use; even a newbie can make his way around it. The team behind the platform, no doubt, has a lot of experience.

The 99airdrops platform is spectacular in its workings. The algorithm behind the platform is developed to take into consideration every activity across the web, most especially Facebook, Reddit, and a host of others. These metrics are analyzed to know the validity of the airdrop program. The platform only gives out information about valid projects. In a bid to make the platform better, the 99airdrops site can make future price predictions based on specific criteria.

The platform is one of the best and fastest platforms when it comes to notifying users on new airdrops. Their email newsletter subscription also is quite useful. Another way to get an update on the platform is by bookmarking the site and checking regularly. If you don’t have time to do this manually, then the first two options would be your best bet.

The 99airdrops platform sorts upcoming events by time, at least, you get a 24hrs notice before airdrop starts to stay abreast forthcoming airdrop events. What’s more, the platform rewards its users with cryptocurrencies weekly. It’s no doubt that the platform is one of the best you can subscribe to for some extra free money. 99airdrops has all you need to know about cryptocurrencies in general. It’s the ultimate guide; all you need concerning airdrops.

Alert Airdrop

With AlertAirdop, you can get free coins almost on daily bases. Its many features make it much easier for cryptocurrency enthusiasts to follow. Just like the 99airdrops.com, this platform is also well designed and arranged. The airdrops featured on the site can be filtered based on current or ongoing events to those ending soon. Much more, this crypto airdrop platform has way more features compared to other airdrop platforms.

Coin Airdrop

Coin Airdrop is a dedicated site that’s regularly updated to give top airdrop announcements. Its clean interface gives users all they need to know about upcoming events and also information about claiming airdrops as well. New users to cryptocurrencies are not left behind, the site not only share airdrop opportunities but also educates new users to the cryptocurrency world adequate knowledge that makes them catch up with the rest of the world as quickly as possible. The platform is owned and ran by a cryptocurrency enthusiast known by the name Midas. You can support this platform by mining cryptocurrency for them with your computing power.

Airdrop Paddict

This platform also makes the list of top trusted platforms where you are assured of accurate airdrop releases.The platform uses a ranking system to rate top airdrops and also separates the untrusted airdrops. It’s hard to miss out on any event as the countdown timer brings to your notice how much time is left to start.

Crypto Airdrop (Twitter Channel)

Twitter is one of the best places to get information on the web. This channel, on the other hand, is there to help amateur and experts on how to get crypto airdrops. This means the platform may not be in the position to give out details in a specific manner, but you can use it to keep an eye on latest airdrops available for any particular moment.

ERC20 Airdrops (Telegram Channel)

Like there’s a Twitter app. Those who are not on Twitter or those who prefer to use the Telegram application to the twitter are also not left out. The platform guides users on each step to take before being a partaker. Even newbies won’t find it too difficult to follow, and with a little help, they’ll soon be reaching their best heights.

More On Airdrops

You probably would think it’s just the Ether (ETH) and ERC-20 tokens that are regularly distributed. That’s not true. Though that’s the predominant cryptocurrency distribution as at right now, as project forks, sometimes, there’s a need to pass the token around and one of the best method, besides token sale is to airdrop it in participant accounts.

Depending on what cryptocurrency you are looking to get, you might be needing a secure ERC-20 cryptocurrency wallet. A top choice that comes to heart would be the MyEtherWallet. Nevertheless, if airdrop isn’t a token that’s ERC-20 compliant, there’ll be information on how to get the needed wallet. Airdrops are certainly not ways to make fast money, but over time, you may see those coins which were worth almost nothing at token distribution phase worth thousands of dollars in coming years as the platform which it’s meant to run on continues to grow.