The crypto market has gone through a lot in the last several years, and the market of today is nowhere near the one from three years ago. It went through an astounding surge, which brought millions of new investors and traders to it. Then, it crashed and suffered a year-long crypto winter. Now, with the arrival of 2019, it sees recovery, with prices once again surging high.
However, these changes affected more than just prices — they also affected the way coins are being viewed, treated, and even delivered. For example, in 2017, the ICO model saw incredible popularity, which eventually had a negative impact. Countless new coins emerged, some good, some bad. However, it also brought many scams, regulatory crackdown, disappointment, and more.
Eventually, the model was believed to be extinct, or at least that it evolved into STOs and IEOs. But, the original ICOs are still here, still alive. Some of them are active now, some are scheduled for the future, and some have just ended, such as simplyBrand ICO.
SimplyBrand is a project that aims to create a platform with a built-in AI model and Machine Learning technology. Its purpose would be to identify counterfeits and bring additional security to online shoppers. The platform's participants would assist in verifying the items, and they would be rewarded in return.
As for those trying to pull off counterfeits, they would be publicly published on the blockchain. With nowhere to hide, these people and entities would be plain for everyone to see and avoid. The solution is quite brilliant, and it could solve one of the larger-scale problems, and with high effectiveness, at that.
Counterfeits pose a great threat to individuals, but also companies, entire industries, and even the governments of the world. On the other hand, the internet and new development in the area of AI and Machine Learning can provide a solution, especially when assisted by individuals who would be rewarded for helping out.
As mentioned, simplyBrand ICO is one that was already held and is now ended. The platform is to be fueled with its own token, SBA, which was in preICO phase from January 10th to March 23rd of this year. After that, its ICO started on March 24th. However, it was only active for three days, ending on March 27th.
The SBA token is designed to serve as a utility, which would be used for paying participants and fueling the platform. Its ICO price was $0.0239, and anyone who wanted to participate had to go through KYC and Whitelist procedures.
However, it should also be noted that the project, based in the Cayman Islands, decided to restrict China and the US, preventing people located in these regions from participating. Everyone else was allowed to join if they so desired.
The ICO was also quite successful, earning approximately $2.6 million, which is quite a lot when considering the coin's price. It should also be mentioned that the coin was available in exchange for ETH and USD and that it is an ERC-20 token, developed on Ethereum's platform. It had a soft cap of 4,000 ETH, and a hard cap of 40,000 ETH.
While the ICO may be completed, interested traders and investors should still look into the coin. The entire project holds great potential, and the coin might have a pretty high price someday. But, as always, it is also a good idea to study the project thoroughly, especially when it comes to its white paper, available on its website.
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