Copytrack ICO Review

in crypto •  7 years ago 

copytrack.jpg

The Copytrack ICO recently started, their website is already displaying sales of over 9 million tokens.

What is Copytrack?


https://copytrack.io/#section-contact
Unlike a lot of the current ICOs this one has already been running for years. They're based in Berlin, Germany and have quickly become one of the most well known platforms for copyright enforcement.
They plan to now create a decentralized registrar for online content which will help to protect websites from others copying their content which can then harm their websites.

How does it work?

Images are often stolen from websites all the time. Many of these offenses go unpunished as many believe them to be trivial.
The platform is free of charge with just a small commission taken each time a successful claim is made. They offer 4 main services:

  • Free use of the website.
  • No risk of legal enforcement.
  • A fair system for both parties.
  • Post- licensing: This is where someone who's stolen an image is then given the option of purchasing rights to it after they've been caught. This can offer a good alternative solution to both sides.

Most of the platform is completely automated with just 2 of the 50 steps requiring manual work. The process for customers is also kept extremely simple and is basically just the following 3 steps:

  • Uploading the images you wish to check: Any images you wish can be uploaded, this then starts the automated service to check for them anywhere on the web.
  • Select hits: Users are then given a list of where their image has been found, they can then select any websites that are using them without permission.
  • Users can then select a royalty fee and copytrack then start the post licensing process.

Next the platform takes care of enforcement for the customer in 4 simple steps:

  • Licensing: Firstly a letter is sent requesting proof that the platform has a license to use the image.
  • Next the website will be sent an invoice for damages.
  • If the invoice isn't paid then the legal process starts. A legal letter will be sent to the offending party.
  • If it's still not resolved then the case will go to court.

Copytrack revenue

The platform is completely free for users to sign up and they never take any fees until they've won the case. The amount that they charge in commission for successful cases varies depending on which country it's in, the fees range from 30-50%.

Decentralization

The platform will be the first decentralized platform in the niche. By using blockchain technology the platform will become completely transparent to everyone involved.
Currently they focus on enforcing the protection of users images. However they also plan to start a decentralized marketplace that can be used to purchase the rights to use images.

ICO Details

  • Total supply: 100 million
  • Available for sale: 60 million
  • Price: 1 ETH= 740 CPY tokens
  • Type of token: ERC20

Token distribution

  • 60% of the tokens will be available for sale.
  • 20% will be given to the founders and advisors, these tokens will be slowly released.
  • 20% will be reserved for business development which will be slowly released for 3-5 years.

Conclusion

A lot of the current ICOs don't have a working business behind them or even a prototype. That's where this one is different, they're already one of the leaders in their industry.
Copyright infringement is a huge market now, the amounts awarded in damages can be staggering. By combing their pre existing company with new blockchain technology Copytrack should dominate the market.
The team behind the platform also has a lot of experience running other businesses.
The token sale looks like it will sell out with a lot of the tokens already sold during a pre sale and the ICO selling out quickly.
Check out more information on their website below:
https://copytrack.io/#section-contact
Whitepaper: https://copytrack.io/pdf/Copytrack_ICO_Whitepaper.pdf

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So this ICO is ERC20 and can be bought only from an ethereum wallet? The price of one token seems to be $1.45 USD and just like whole lot of ICO's out there US members cannot participate. Their telegram group has 5k members so I am not really sure about the hype it has generated at this point of time. It should pickup in the coming days and people would start noticing it.

As you pointed out, there are couple of things that are really positive about them. One is, they already have a long running business behind them. This surely would make the, to be investors very confident about their present initiative, their team. As this team already knows how to make a business successful, it's given they would know how to drive Copytrack to success as well. Two, the concept and the goal they are trying to attain is meaningful.

Any idea on when it might hit the exchanges and what exchanges they are targetting?

Thanks for sharing the information