The ICO model is making a massive comeback in 2019, brought back by the recovering prices and the return of investors' optimism. The model was previously believed to be extinct and entirely rejected by the crypto community due to a high number of scams seen in late 2017 and early 2018. Additionally, the regulators around the world cracked down on it, as well as many of the coins, claiming that most altcoins are securities.
That did not mean that token sales will go away, however, and new models such as STOs and IEOs came to replace it. Now, the ICOs are back once more, and a number of new projects are currently holding their token sales, with many more already being scheduled for the future.
Of course, there was also a few ICOs that started back in late 2018, against all odds, with nothing but faith in the recovery of the market fueling the decision to actually go through with a token sale at that time. Imagol's ICO is one of the best examples.
Imagol calls itself the first platform for photo snapping and selling. It aims to become a hyper-connected marketplace for searching, finding, selling, and buying photos.
The project believes that there is a huge demand for photos right now, with the centralized stock photo market expected to read $4.46 billion by 2020. Meanwhile, the hyper-connected market will read $340 billion by 2025.
Imagol aims to address search engine piracy and involve everyone in a multi-billion dollar online economy, which will allow it to generate multi-billion revenue. Further, its token is among the widest and most frequently used coins in the crypto community.
As mentioned, Imagol already held its preICO, as well as ICO itself. The pre-sale started on October 28th, 2018, and ended on December 25th. THis was also the period for Whitelisting. After that, the ICO itself took place from December 26th to March 6th of this year, with the price of its token, IMA, being $0,004.
The coin was developed on Ethereum's platform, which makes it an ERC-20 token, designed to act as a utility. The project accepted Bitcoin and Ethereum in return for IMA, and it set a soft cap at $3 million, and hard cap at $16 million.
It is based in Singapore, but it restricted the US, meaning that those located in the States were not able to participate. It also required KYC procedures for those willing to join the sale.
|Start||December 26, 2018|
|End||March 6, 2019|
The project seemed legit at first, but there are several things that are raising the red flag. For example, it did not receive the best ratings, not any particular amount of interest. Its social media has been dead for months, and the project itself has seemingly died down, whether for the lack of interest, regulatory issues, or it was simply a scam.
There is a major lack of information, which does not make this ICO a very good one, and the project does not appear to be trustworthy. It does seem to have a legitimate-looking white paper, but that did not seem to help much.
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