CryptoProfile is a leading blockchain marketing agency that is creating a consolidated airdrop platform for the ICO market. The goal of the platform is to connect Initial Coin Offering (ICO) projects with a large network of cryptocurrency enthusiasts, with various services that would significantly enhance a project’s marketing campaigns. The core services of the platform will include Education, Airdrops, Bounties and Investment opportunities.
With the airdrop platform, CryptoProfile is trying to solve 2 core issues:
Unreliable Airdrop Mechanisms: Airdrops have been a unique mechanism in the cryptocurrency market with the main function of distributing free tokens from ICO projects to the masses for publicity and marketing purposes. However, the existing airdropping mechanisms are often m annual and unreliable, especially for participants that possess a financial incentive – such as marketers, writers, partners, and referrers – that enhances the exposure and publicity of the ICO.
Shady ICO Practices: It is no secret that the ICO market is rife with shady practices, money-grabs, scams and Ponzi schemes that prey on vulnerable participants in the cryptocurrency market. The absence of any regulations makes it easy for ICO projects with ill-intent to get away with their schemes. Alternatively, the high failure rates of ICOs are a result of the lack of product viability.
CryptoProfile looks to streamline the airdropping process while preserving a rigorous standard of business acumen since the success of its platform is directly correlated with the success of the ICOs within the ecosystem. Here is a visual flow of how the platform will function:
The airdrop mechanism instituted by CryptoProfile will run as follows:
ICO Projects on-boarded by CryptoProfile will need to upfront USD100k for the marketing exposure and services of the network. In return for that, USD 100k value of CP tokens will be given to the ICO project.
The CP tokens returned to the ICO project will be locked up in a smart contract for six months and released when the project has successfully listed their native tokens on an exchange.
The ICO project will need to allocate 10% of their ICO token to CryptoProfile, which thereafter allocate 100% of that token pool and airdrop to CP token holders in order to further stimulate interest and participation from the cryptocurrency community
All CP token holders will be rewarded with airdropped tokens each time an ICO is onboarded into the CryptoProfile network.
There is also an avenue for CP token holders to invest transparently on the ICOs which interest them within the CryptoProfile ecosystem.
Due Diligence Mechanism
Every ICO project will need to be screened thoroughly to ensure that they conform to the standards set by CryptoProfile. The due diligence mechanism is as follows:
Business Viability: The project must be able to address a current problem with an adequate target market and feasible cash-flow predictions.
Technology: The project must be backed by a sound technological base that works and fits the overall project goals.
Token Economics: A stable token economic model is a pivotal factor in the success of the project. Key variables to look out for is the degree of centralization, escrow mechanisms and the synergy of the tokens with stakeholders’ interest
Team: The team working on the product must be qualified with the necessary skills and dynamism for the project’s success.
Coin Utility: The value of any token is fully contingent on its utility. There must be a solid use-case and application for the tokens within the ecosystem.
Regulation: Given the increased scrutiny of the greater cryptocurrency market, the regulatory aspects of any project will need to be analyzed within the context of its jurisdiction before anything else.
Unique Selling Point
Novel Economic Model: CryptoProfile is one of the first platforms that focus on creating a consolidated airdrop platform for ICO projects. The platform naturally aligns the long-term interests of stakeholders, with listed ICO projects getting the marketing exposure from the extensive network of investors who hold CryptoProfile’s native tokens (called CP). CP holders are financially incentivized to also increase the marketing exposure of ICO projects within the ecosystem through the consolidated airdrop mechanism.
Here is CryptoProfile’s team: