After several years of experience of investing in different ICO's and blockchain project, I can say with full confidence that I would never again invest in a crypto project that intends to use a major portion of raised funds on marketing. That is, of course, on the condition that the project doesn't have a killer MVP or a ready-to-sell product. Otherwise, it would be flushing money down the drain. This rule also applies to WINBIX - their overall concept is interesting but without a working MVP, they won't get a dime from me.
Junglaar August 1, 2020 Reply
The idea of Dutch auction is not new to the crypto space. Off the top of my head, there is a project called Algorand that utilizes the same concept, not to mention the non-blockchain projects like ProZorro, Seia, and Aures II. Therefore, this approach has proven to be viable. Besides, the introduced concept of DAICO is quite interesting and unusual, in a good sense of the word. So, WinBix should do well in the future, if they keep on developing the platform at the same pace.
BeZzzos March 11, 2020 Reply
As it turned out, the DAICO, which WinBix tried to promote as something of an innovative approach towards token sale, was a bust. I went to their Twitter page and found the Medium article where the team officially apologizes for not reaching the softcap and instructing the initial investors on how to get their ETH back. Too bad, perhaps, because it was evident that the team had put a lot of effort into this project.
Crypto_Bro January 13, 2020 Reply
I see a lot of people here trying to bash Winbix for no reason at all. But apparently, the investors have a different opinion on that matter since the sale of WBX tokens is going rather well, judging from the DAICO stats provided on the official website. Indeed, the concept of WinBix is not unheard of, but it's a matter of proper realization that might give this startup a needed edge.
BigRed December 11, 2019 Reply
In my opinion, the reverse auction is too complicated a model for it to be fully understood and appreciated by the average user of e-commerce platforms. I am not trying to imply anything offensive, it's just in human nature to seek easier solutions. However, those who recognize the practicality of WINBIX would find that it has plenty of benefits to offer, especially for those who are patient enough to wait for a better price.
DerekusMaximus October 12, 2019 Reply
This entire auction system and the WBX token economics, explained in the whitepaper, is interesting and all, but I am still concerned about the allocation of funds obtained through the DAICO. The WinBix team indicates that they intend to spend half of the raised funds on marketing outside Russia. I know that sufficient marketing is of vital importance for any blockchain project, but it is also important to reserve enough funds for platform development. Nevertheless, it looks like WinBix is doing fine, so good luck to them.
LionKing September 3, 2019 Reply
The model of reversed auction, applied by WinBix is something new for the field of e-commerce, which makes me think that they might gain good recognition, if the system proves to be viable. The token buyback and the “security” smart contracts also represent interesting features that will surely add to the overall appeal of the project. But the thing that has completely won me over was the provided possibility for the investor to exercise control over the realization of the roadmap. WinBix already has the product MVP which works fine, so I can conclude that this is a sustainable project.
Arthur July 16, 2019 Reply
To tell you the truth, I was vastly skeptical about all the other ICOs, mainly because I considered them all as nothing more than scam, and sometimes their aggressive and obtrusive advertising really unnerved me. Can’t really say anything about their marketing methods but the concept of DAICO implemented by WINBIX invites some confidence. I mean their philosophy seems to be more about democracy and letting people vote on the important decisions. And I also like the overall idea of the Dutch auction. I can’t say that I will dive headfirst into crypto investing, screaming, “Take my money”, but I will definitely consider WINBIX as a possible stepping stone.
Samantha June 11, 2019 Reply
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