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.
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.
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.
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.
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.
We list the most relevant upcoming crypto market ICOs
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WINBIX: A Tokenized Dutch Auction-Based Marketplace WINBIX is an e-trading platform produced in 2018 by a group of digital entrepreneurs, software developers, and marketers from the Russian Federation. The Ethereum blockchain served as a basis for this peculiar online marketplace which operates...
|1||Ledder||Aug 01||Dec 31|
|2||BitWings||Jun 03||Nov 30|
|3||Pbet||Jun 18||Dec 15|
|4||UCBI Banking||Oct 18||Jan 18|
|5||Cinemadrom||Feb 03||Apr 30|
|6||Yachtco||Aug 04||Feb 04|
|7||GOVEARN||Jun 23||Dec 31|
|8||BrandProtect||Apr 27||May 31|
|9||PointPay||Jul 22||Jul 22|
|10||WINBIX||Jul 01||Sep 28|