EY, one of the big four accounting firms, just published a report saying that 71% of ICOs are just ideas, and not a working product or prototype. But, the thing I really want to talk about though is that bringing a new, groundbreaking idea into the market takes more work than a regular project might. You need to have the right partners and the right product in order to have a successful rollout. My case in point is a project I’m super into right now: it’s called Portion, and they are launching highly curated drops of high end crypto-art and, based on what they’ve said, rare, luxe physical goods. Although, they realize there's no reason to rush their launch until they have all their ducks in order for them to attract as many users attention as possible for a smooth launch. The same goes for many similar projects that need a lot more attention, otherwise the product really won’t be worth much…
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That's a lot like many firms on wall st, even if they have a product on day one, most of them lose money for many years after they ipo, crypto gets unproportional amounts of bad coverage for what is really just how business works..
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this is mostly true for crazy bull market mania times, otherwise getting to IPO is mostly a very long and demanding journey
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plus, they'll take huge precentage of the ipo...
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true that. maybe it's time we change it for good!
if portion are serious, they can have a huge impact worldwide... opening up the digital art world and disrupting the auction industry, very big project if they'll succede
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agreed, even though times are not easy - I believe that several diamonds may arise!
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I can't really imagine big-name artist doing these collaborations
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I can't really imagine big-name artists standing on the side while this happenes... when the hype takes it over, those big-name artists will be there before the others.
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the most important part for me is that the platform get some kind of business going and that the token allows you to have a part of the revenue that is being created, otherwise there is really only gambling and not investment, and that can't hold for the long run
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Time will tell - but I totally agree with you
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First of all, when you provide numbers, it's very important to provide the source... other than that looks interesting, why do you believe they will make it through?
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Well, because it is going to be, at last - a digital art (auctions, kitties you name what you have inside as long as it is related to dig art) platform that will have world-known artist inside to give you their made crypto assets... and not just a stupid algorithm to chose which cat you have!
Real ART! Real Auctions! Real Collections! Real Collectors!
I just hope that it is what Portion are intended on doing - you never know
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