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ICONIQ Lab will Help Crypto Startups run Successful ICOs

Eseandre Mordi



The cryptocurrency scene seems to be steadily showing a changing trend, especially as regards ICO events and the fundraisings. Although the ICOs are still very much relevant in helping intending project developers gather the needed funds for their project execution, it doesn’t seem as easy as it used to be when ICOs first began. Now, digital currency users and investors are more particular about every detail of the soliciting projects, as well as what prospects they could possibly have- for both the present, as well as the future when the projects are completed. Since there are different types of crypto investors with varying intentions and expectations, this new trait further adds to the tediousness of organizing and achieving results, at the ICOs.

One of the setbacks for contemporary ICO events are the raised levels of distrust emanating from scam projects in the past. Now, if any project would reach its financial goals, then it must have made a lot of publicity, and then subsequently gained the investors’ trust. Usually, this requires a lot of efforts in all forms, which only a smaller percentage of intending ICOs are able to meet. Nowadays, ICOs seem to severely need external backups for the actualization of their individual objectives.

A business startup utilizing the decentralized system protocol could be experiencing the desired results if the right impetus is provided. There are different methods to do this, but the project team must ensure that only the most effective option for their type of project, is adopted.

ICONIQ Lab provides a structured framework that would facilitate ICOs reaching their hard cap, while also creating real-time benefits for investors on the network. Thus, the ICONIQ Lab services are ingeniously designed to give high-level advantages to all types of participants on the network. The overall framework basically targets creating opportunities for ICO project developers, and every investor who puts money in them.

What then is ICONIQ Lab and how does it work?

ICONIQ Lab is a venture capital company that aims at providing funding opportunities and other functional requirements for start-ups that are utilizing or willing to utilize the features of an ICO. The project creates a community of project developers and potential investors, all thriving on and enjoying individual peculiar advantages courtesy the ICONIQ Lab projects.

While intending ICO start-ups may find it a little tasking in overcoming the challenges of the ICO markets, ICONIQ Lab finds ways of supporting the companies through such components as seed funding, business development, and marketing, legal and structuring, input on business tokenization, etcetera. The ICONIQ Lab solution for start-ups seems to be solving the problem encountered by small and medium scale businesses who wish to leverage on the benefits of the blockchain, but are hindered by certain essential factors whose requirements they are not able to meet, on their own. ICONIQ lab is a decentralized venture capital group that is powered by a token distribution accelerator program. Currently, the project is running support for a number of startup ICOs and has been able to add more of such intending projects to its lists.

On another hand are the investing participants on the ICONIQ ecosystem, referred to as the ICNQ club members. They are basically users willing to contribute to ICO projects, but based on an increased guarantee that such projects were viable and prospective enough. Thus, an investment inclined participant on the ICONIQ platform becomes open to use advantages like quality ICO participation, participation in project sourcing and structuring, advanced pre-sale and discount opportunities for the platform’s accelerator graduates, amongst other advantages.

Fundamentally, ICONIQ Lab facilitates interactions between participants on its network. Thus, businesses and their ICOs that have passed the platform’s accelerator program, are pitched before prospective investors on the ecosystem who subsequently invest in them. This method could be a much easier route for obtaining project funding from new project developers.

Some of the valid points on the relevance of the ICONIQ lab services are the fact that business ventures are placed at a vantage point that ensures quick funding, while investors are also opened to ICO investment opportunities that are less ‘risky.’

How the ICONIQ Lab project began

ICONIQ Lab is a subsidiary project of the FinLab company, a German-based financial technology company builder. The ICONIQ Lab project was birthed in November 2017 with the intention of providing accelerator services that come with a number of attached service benefits for the client companies.

The objective of ICONIQ Lab is rooted in finding ways of facilitating ICO programs, through the provision of apt crowdfunding elemental services such as strategic project marketing, tokenization framework, and the token sales processes.

So far, ICONIQ Lab has been able to raise sums over €2.5 million via the platform’s native ICNQ token sales alone. The ICNQ tokens have been designed to power all transaction and interactive activities involving the individual ICOs and their teeming investors.

ICNQ token and the token sale

The ICONIQ ecosystem is entirely fueled by its indigenous ICNQ token. ICNQ tokens are ERC 20 tokens, as the protocol is hosted on the Ethereum network. The token is the investment tool on the platform, and all the accelerated projects are funded using it. This means users on the platform are mandatorily supposed to have ICNQ tokens if they must actively participate in the ecosystem’s various listed activities.

Just like most cryptocurrency protocols, ICONIQ lab offers token sales to members of the public, at its own token sale events. The platform has created 20 million ICNQ tokens, which has been allocated by proportion for sale at each different event.

During the course of the year, the company has carried out its private and community pre-sales, while the institutional and US accredited private sales have started and is slated to last through the year till November 2018. In addition to this, the company has slated a GBX grid public sale for October ending, where 500 thousand ICNQ tokens would be sold out to investors.

Investors would be allowed to participate by making token purchases directly, using Ethereum as payment means. All unsold tokens during the ICO would subsequently be burned.

Furthermore, cryptocurrency stakeholders are afforded an opportunity to earn free ICNQ tokens by participating in the ICNQ token bounties. This option is active and runs all through the duration of the public sale.

However, investors and participants on the ICNQ network are not necessarily guaranteed of any substantial financial profits in the future. As true with most ICO events, some of the project’s roadmap is yet to be implemented, thus making it remain rather speculative. Since this is so, investors are advised to make calculated investments- although while remaining optimistic as well.

Another issue of concern for the ICNQ network is the fact that the company’s business acceleration activities is not ideally defined. ICONIQ carries out all types of acceleration programs, without collaborating with well-recognized sector businesses, whose relevance are primary. The company has consequently not built a well-established community around its program, thus limiting the chances of producing its refined community of product supporters.

This notwithstanding, ICONIQ Lab operation framework is impressive by most standards, and its services can be seen as being important in facilitating increased cryptocurrency adoption.

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