I've been running a coworking space for two and a half years, so I kinda know the business, its benefits and its challenges. So when I saw an ad about "a token for coworking spaces" I jumped right on it. Primalbase, a coworking space located in Amsterdam, aims to combine its physical location business with the power of the blockchain, by launching its own token.
After fiddling with their website for a while, here's the short blurbs:
- the ICO will have a caped supply, at 1000 tokens
- a token, named PBT, will be worth 5BTC (quite expensive, more than $10.000)
- smallest denomination of a PBT is 0.0001
- a token will grant you access to the coworking space in any location of Primalbase
- the token distribution platform is built on top of Waves, which is build on top of Ethereum (correct me if I'm wrong, please)
There are a few things that are not clear to me:
- you will get ownership or just access?
- there is a list of new locations to be opened in 2018, in London, Singapore, etc. 1 PBT will give access to all of them?
- access is for life? At that price, it should be...
As I said, as a former manager of a coworking space, I salute this initiative. But at this moment, Primalbase looks like it has to refine its concept, and adjust to the market. There is a lot of volatility, the customer base is seasonal and highly unstable and a big part of the revenue comes from events (which are not even mentioned in the website).
I'm really curious how this will unfold, as it looks like one of the "thinnest" ICOs around at the moment.
Here's the website for more info.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
I love the concept of coworking spaces. Never tried, but that's more about opportunity, so far...
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I managed one for two and a half years and I'm currently using one (as a resident). It's a very nice concept but the business is very difficult, as any real estate based business. Revenue from residents is less than half, the rest must comes from events (which are outsourced from other partners) so it's difficult. Will see how this plays out.
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Got an off topic question about HF19 reward strength. It seems much greater than I would expect for 4x and linear weight. Any ideas?
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I think at the moment whales are not voting and the people who are voting are drawing from a bigger reward pool. But I might be wrong.
There are 43,000 STEEM issued every day. At the current price, the total value of it is around 81,000 USD.
If you play with the numbers for a while, you will start to get the picture.
It may also be the fact that the reward pool was really, really imbalanced and now we started to see how tilted the odds were.
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Thanks! I knew you were the right person to ask.
I will do the arithmetic.
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But it's hard to see "why blockchain," right?
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Yes, exactly. They could have done it without the blockchain. Seems like they're piggybacking the hype.
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ICO bubble Madness: Addy Crezee #BlockShow #BlockiTalki
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Nice short review, thanks and keep up good posts :)
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Wow , if this tokens as a physical thing, which can track goverment can find a solution with them and probably it's gonna lead crypto world to another big step ? Just my assumption 😉
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I don't think they are physical, just the thing you buy with them it's physical (access to a physical location). At this point it's not much crypto going on, it's more of a rewards point service. I don't think a person buying a place in a coworking space is very much concerned with privacy, they usually get those subscriptions in order to be found and "tracked".
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Oh , know i get it ! Thank you for respond and explaining 😊
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Interesting project, I think it would be great having tokens included some kind of ownership. Skin in the Game.
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If that would be the case, it would be revolutionary. But I don't think it is.
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I'm really glad to hear that this kind of business area becoming so popular and expands! We also have already 11 locations of coliving/coworking places in CA and ICO is coming soon. Great post! Thank you for sharing.
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