Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
Re: | ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake
by
d5000
on 20/03/2021, 11:46:33 UTC
⭐ Merited by paxmao (1)
Jelurida actually made a a lot of money from the Ignis ICO.

They admit to making over 15M from the ICO alone.
15M was not very much in the ICO frenzy in 2017. It isn't even one of the top 50, which is poor considering that NXT was once one of the leading alts. Some sources say they got ~20-25M, but it's still far from Filecoin, Tezos et al. or even something much more limited like TenX.

Quote
This doesn't count the NXT/ARDR/IGNIS pump ... a lot of the ICO was paid in NXT, which conveniently had like a 10x runup (against btc) right after the ICO ended.
Yep, if they timed well they would have been able to get a lot more than 20 million, but they had a short window (basically December for February, the top of the bubble) and I don't believe there were able to sell that many NXT for these prices. I still consider the outcome better than in most other ICOs. They delivered the Ardor code on time and kept updating it. Marketing has been poor however. And yes, I definitively also agree with @xenon131 that the ecosystem is still very, very thin.

Anyway, I'm not longer supporting the ICO-based altcoin model. It always leads to excessive centralism, which is the root of the marketing problem (no word-of-mouth propaganda like it occured with Bitcoin, instead everything is expected to be done by the developer group, and if they fail with it, the coin can fail too).