ICO Status: In-progress
CrowdWiz is a completely democratic investment entity, where token holders use their collective crowd wisdom to propose, vote, and decide together on the investment activities of the fund. Token holders will be able to invest in major crypto assets, ICO tokens and upcoming crypto-world investment products such as: lending, real-estate, art distribution, as well as to create their own investment fund crowds with specific goals, which will use their own unique token (crowd token) generated via the WizFund platform.
The WIZ token is at the core of the CrowdWiz ecosystem, and is the main value driver that will enable all primary activities and transactions via the platform. Read this from their ICO whitepaper:
People like to share the responsibility for their own financial decisions with others. For some, this extends to a lunatic level whereby they outsource these decisions in their entirety to entities like Financial Advisors! But at a common level, we all like to discuss investments with others and garner opinion – however ill-qualified it might be.
Given this predominant behaviour, it would seem that the proposition offered by CrowdWiz has real world utility. The ability to form a group, propose and vote on how to invest the group’s funds feels like a matching outlet for this type of behavioural preference. After all, if things don’t go to plan, then individuals need not carry the burden of blame alone as it was the group’s decision, not any one individuals!
The proposition has further utility when you consider the ability of others to participate / benefit from groups of people they don’t even know. Simply by browsing the various funds in operation, other users can elect to invest thereby increasing the fund total and the relative value of that fund’s custom token.
As we all know, the cryptocurrency investment market is expanding rapidly. Currently, people have two choices: go it alone and trade as an individual, or engage in some form of copy-trading platofrm. CrowdWiz brings a new option to the market, and it definitely feels like there is room for it.
Like nearly all blockchains, the parent token is the fuel used across the blockchain. Demand for the token will increase commensurate with user growth and the transactions they generate. Unlike other ICO offerings, it might take some time for demand to build up, as this one really is dependent on groups of people forming and collaborating – something which tends to impede all nascent social networks.
All three of the main protagonists at CrowdWiz currently work for TRADOLOGIC, a software development company in Sofia, Bulgaria. What is hard to determine at this stage, is whether CrowdWiz is a venture sponsored by TRADOLOGIC, or whether it is a side-venture cooked up over a number of years and many cafeteria lunches! Nevertheless, the team have all the right components of computer science, design, and business acumen to make this a success.
For a venture so reliant on social behaviour, it is essential that a team should have a competant community manager. To provide this, CrowdWiz have employed Alexandra Poier, a veteran community manager from arendoo.com and Microsoft before that.
The CrowdWiz development roadmap looks lengthy, with a full platform release not expected till Q4 2018 – a full 12 months away. The plan is to begin with the launch of the WizFund platform, with the full platform incorporating the WizExchange functionality due next year. What is unclear, is at which point will CrowdWiz be in a position to start attracting users to the platform? Hopefully this is what is meant by ‘WizFund’ as otherwise it will be a long time before ICO participants see any return on investment.
The CrowdWiz ICO starts on the 20th of November with the goal of raising $20m through the sale of WIZ tokens. The ICO price will be 1 WIZ / 1 USD, with bonuses reducing to zero after just 4 days. This makes participation in the ICO a more serious consideration, as $1.00 per token is considerably more expensive than many others with perhaps a greater market size, real world utility, and proposed time to market.
Ok, I’m not going to lie; I really like this application of blockchain technology and cryptocurrency because I think it could be fun. Yes, fun. Not necessarily ‘amazing’ in the sense that I think it could actually lead to better returns than could be generated by applying research and individual hard work to identifying cryptocurrency investment opportunities, but just fun because of the social dynamic involved. And the User Interface promises to be beautiful; as an experience designer by trade, this sort of thing really appeals to me and I believe it is likely to appeal to a great number of other people as well.
Whether or not investing in CrowdWiz from an ICO perspective is a smart move is hard to determine because the proposition is very different to other ‘ease-of-entry-and-participation’ models like the AutoFIT proposition from Follow Coin and the copy-trading model from Covesting. But what I do know is that I’ll be promoting participation in the CrowdWiz ICO to my crypto-friends, because, well, I think it’ll be a hoot!
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