The ICO (Initial Coin Offering) token sale model is back in all its glory, and it has been gaining strength in recent months. The model originally became extremely popular back in 2017 and early 2018, bringing hundreds of coins during the crypto bull run at the time. However, when the hype died down and the bear market struck, it struck hard, and ICOs became quite a rare sight.
People were no longer willing to invest in coins that might be scams, weak projects, or even good projects that are bound to see their prices drop due to crypto winter. Understandably, this was not a good time for ICOs. In fact, it was one of the hardest and most difficult periods, and many believe that the model had gone extinct, or at least replaced by alternatives, such as STOs.
Then, with the revival of the prices in 2019, ICOs returned as well, and many of them are currently on-going or scheduled to start at some point in the future. Some of them even took place in the past few months, and have already ended. VANM ICO is one such example.
VANM is a local search engine that can be used for discovering new products and services that match supply and demand for local advertisements. The engine is very successful in locating products and services that are near the user at any given point. It uses blockchain technology to operate and also distribute ad revenue among different users.
It recognizes the need to improve digital advertising, which has lost its edge, as the company says. Most of the time, users would either completely ignore pop-up ads or block them with ad-blockers. This makes digital advertising very ineffective, while it remains very expensive. It is particularly unfriendly towards small businesses, which cannot afford to spend hundreds of thousands or even millions of dollars which are necessary for the companies to have their voices heard.
This is where VANM comes in and helps these businesses reach their focus groups on a local level. Their solution is to give users access to a search engine that will track local deals, events and offers in real time. Further, half of the ad revenue will be shared with the users, allowing everyone to benefit. Local markets will claim customer awareness, the customers will get ad revenue and access to great products and services, and companies will get the opportunity to grow and expand.
Naturally, to achieve this, VANM needed to develop its own coin, which will power its product and allow money transfers. With that in mind, the firm invented a utility token, also called VANM, which it developed on Ethereum's platform. As an ERC-20 token, the coin was in a preICO state from November 17th, 2018, to December 31st. It then held its ICO from January 1st of this year to May 1st.
The coin's price during the token sale was at $0.1071, and the coin was obtainable in exchange for ETH.
The project's country of origin was Germany, and while it welcomed investors from around the world, it did have three restricted areas — USA, Canada, and China. Everyone else was welcome to join, provided that they get Whitelisted.
While the ICO has ended, many might still be interested in the project, which is why they should definitely go through its white paper, and see in detail what it is all about. This is always a good thing to do when dealing with any coin, token, or ICO, as it will prevent investors from giving their money to scammers, and experiencing losses.
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