Unlocking Potential: A Deep Dive into the CryptoProfile ICO Evaluation

CryptoProfile ICO Analysis: An extensive evaluation and assessment of the CryptoProfile ICO, which aims to establish a unified marketing airdrop platform.

Notice: The following represents the author’s personal viewpoints and does not – in any circumstance – serve as an endorsement of an investment or financial guidance. Please exercise prudence while investing in cryptocurrencies and proceed at your own risk, as it is highly unpredictable and there is a possibility of financial loss.

Summary

CryptoProfile stands as a premier blockchain marketing firm that is developing a unified airdrop platform for the ICO sector. The platform’s objective is to bridge Initial Coin Offering (ICO) initiatives with an extensive community of cryptocurrency aficionados, offering various services designed to significantly amplify a project’s marketing endeavors. Essential services of the platform will encompass Education, Airdrops, Bounties, and Investment prospects.

Through the airdrop platform, CryptoProfile aims to address two fundamental challenges:

Inconsistent Airdrop Systems: Airdrops have emerged as a distinctive tool within the cryptocurrency domain, primarily facilitating the distribution of complimentary tokens from ICO projects to the public for promotional and marketing reasons. Nonetheless, the prevailing airdrop systems are frequently inefficient and unpredictable, particularly for participants with financial motivations – such as marketers, writers, collaborators, and referees – that enhance the visibility and outreach of the ICO.
Dubious ICO Practices: It is widely acknowledged that the ICO landscape is fraught with unscrupulous practices, opportunistic schemes, fraudulent operations, and Ponzi schemes that exploit vulnerable individuals in the cryptocurrency arena. The lack of regulatory oversight enables ICO initiatives with malicious intent to evade accountability. Furthermore, the high failure rates of ICOs stem from insufficient product viability.

(Refer to: Dangers in Cryptocurrency Investing)

Functionality

CryptoProfile intends to refine the airdropping procedure while maintaining a strict standard of business integrity, as the efficacy of its platform is closely linked to the success of the ICOs within the network. Below is a diagram illustrating how the platform will operate:

The airdrop system implemented by CryptoProfile will function as follows:

ICO Projects enrolled by CryptoProfile will be required to pay an upfront fee of USD100k for the marketing visibility and services provided by the network. In exchange, an equivalent value of USD 100k in CP tokens will be granted to the ICO project.
The CP tokens awarded to the ICO project will be secured in a smart contract for a duration of six months, with release contingent upon the successful listing of their native tokens on an exchange.
Additionally, the ICO project is expected to allocate 10% of their ICO tokens to CryptoProfile, which will then distribute 100% of that token pool as airdrops to CP token holders, further spurring interest and engagement from the cryptocurrency community.
All CP token holders will receive airdropped tokens each time an ICO is integrated into the CryptoProfile network.
There is also a pathway for CP token holders to invest transparently in the ICOs that pique their interest within the CryptoProfile ecosystem.

Due Diligence Process

Each ICO project will undergo a thorough evaluation to ensure that it adheres to the standards instituted by CryptoProfile. The due diligence framework is outlined as follows:

Business Feasibility: The project must address a contemporary issue while targeting a suitable market with credible cash-flow forecasts.
Technology: The initiative must be supported by a robust technological foundation that functions well and aligns with the overarching project objectives.
Tokenomics: A stable token economic framework is critical to the project’s success. Key factors to consider include the level of centralization, escrow arrangements, and the alignment of tokens with stakeholders’ interests.
Team: The team engaged in the project must possess the qualifications and dynamism necessary for the project’s triumph.
Coin Functionality: The worth of any token is dependent on its utility. There must be a robust use-case and application for the tokens within the ecosystem.
Compliance: In light of the increasing scrutiny in the broader cryptocurrency market, the regulatory dimensions of any project must be examined within its jurisdiction before anything else.

(Also read: Why do people dislike Bitcoin & Cryptocurrencies? Here’s 5 Frequent Misconceptions)

Distinctive Selling Proposition

Innovative Economic Model: CryptoProfile ranks among the first platforms dedicated to developing a unified airdrop platform for ICO initiatives. The platform naturally aligns the long-term goals of stakeholders, with listed ICO projects receiving marketing visibility from the expansive network of investors holding CryptoProfile’s native tokens (denoted as CP). CP holders are financially motivated to enhance the marketing visibility of ICO projects within the ecosystem via the consolidated airdrop system.

Team

Presenting CryptoProfile’s team:

Every member of the CryptoProfile team is stationed in the jurisdiction of its establishment, which is Singapore. The team consists of 7 essential members, with Max Ng serving as the managing director. Max has been involved in the cryptocurrency sector since 2012, concentrating on cryptocurrency education and trading in his past ventures. He has also earned recognition for developing a worldwide charting methodology with an approximate accuracy of 80% in speculation identification. Together with his co-founders, they provide guidance to various early-stage ICO ventures. A significant highlight is CryptoProfile’s Global Business Development Executive, Amarpreet Singh, who is acknowledged as one of the top 10 Global ICO/STO Advisors and has previously served as an economic consultant to the World Bank.

(See more:  Categories of Coins to Broaden Your Crypto Portfolio & Mitigate Risks)

Progress

Collaboration

Below are the associates of Cryptoprofile:

Cryptoprofile has collaborated with multiple educational organizations such as the Institute of Blockchain, WebLearningResources, and IKIGuide. This aligns with their original commitment to leading cryptocurrency awareness and education within the crypto community. CryptoProfile also actively participates in cryptocurrency events, forming partnerships with platforms like BlockShow (by CoinTelegraph).

Timeline

Here is the timeline for CryptoProfile:

CryptoProfile has been active since the third quarter of 2016, starting with educational services and resources for the wider cryptocurrency community. It has since developed into a comprehensive marketing agency that has made a name for itself in the Asian market. The pre-sale and the actual ICO are scheduled for the first quarter of 2019. The initial half of 2019 will witness the creation of their proprietary wallet and the launch of their test-net.

(Read more: Crypto Beginners Guide: 5 Essential Things for Crypto Newbies)

Tokenomics & Functionality

Token Specifications

Here’s a breakdown of Cryptoprofile’s native tokens, CP:

CryptoProfile has successfully wrapped up their private sale round with significant interest and is now preparing for their pre-sale round, which begins at the dawn of 2019 for a duration of 30 days. More than a quarter of the total funds gathered will be allocated towards marketing expenditures to bolster the platform’s visibility and branding.

Token Functionality

CryptoProfile’s native token is an ERC 20 token denoted as CP, constructed on the Ethereum blockchain. The soft cap for CryptoProfile’s token sale will be $1.1 million, while the hard cap is set at $30.4 million.

CP serves as a utility token with the following functionalities:

Primary Currency: CP will act as the primary currency within the CryptoProfile ecosystem, necessary for engaging with the main elements of the platform. ICO initiatives onboarded onto the platform must convert their fiat into native CP tokens to avail of marketing benefits,
Compensation: There will be a broad reward pool available for participants of the CryptoProfile network, including content creators and bounty hunters. Their rewards will be issued in CP tokens.

(See more: Will A Collapse in Bitcoin’s Value Result in Its Downfall?)

Advantages

Promising Market Prospects: The cryptocurrency market stands as one of the rapidly evolving sectors worldwide, even during the bear market of 2018. Despite its volatility, the nascent nature of blockchain technology continues to captivate many, with overall cryptocurrency market capitalizations exceeding $150 billion.
Innovative Economic Model: CryptoProfile is among the select projects attempting to refine the airdropping system distinct to the cryptocurrency arena. By ensuring that all parties in the ICO marketing process are financially aligned and committed for the long haul, it significantly enhances the value of their native tokens, CP.
<spanDue Diligence Process: The CryptoProfile platform guarantees that only reputable projects are welcomed aboard. These projects will undergo evaluation based on a rigorous criterion that includes its feasible potential, technological metrics, team capability, and token functionality. This is advantageous as the credibility of CryptoProfile’s platform is inherently linked to the trustworthiness of the individual ICO ventures within the ecosystem.

(Discover more: 5 Invaluable Insights From The Cryptocurrency Market in 2018)

Drawbacks

Insufficient Technical Information: The whitepaper is deficient in the technical specifics regarding the blockchain aspect of the platform.
Mediocre Roadmap: The latter part of 2019 appears to be rather uneventful according to the roadmap, which indicates CryptoProfile concentrating on forums in the third quarter and compliance issues in the fourth quarter. This seems relatively less ambitious compared to the timelines of other ICO projects.

Conclusion

Having commenced with a modest focus on cryptocurrency awareness and education, CryptoProfile has developed into a well-established marketing agency that aims to transform the airdropping process. Airdrops, being a critical and distinctive element of the cryptocurrency ecosystem, have frequently proven to be unreliable and limited in their effectiveness as marketing strategies. With a platform dedicated to providing value to emerging ICO projects and offering financial incentives to all participants involved, the long-term goals of each ICO initiative are expanded to the broader community.

Verdict: Promising Project

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Useful Resources To Begin Your Journey

If you are embarking on your exploration into the intricate realm of cryptocurrencies, here’s a compilation of helpful resources and guides that will set you on your path:

Trading & Exchanges

Wallets

Also read: Guide to Privacy Coins: Comparison of Anonymous Cryptocurrencies and Guide To Cryptocurrency Trading Essentials: Do Charts & Technical Analysis Truly Work?

The views expressed herein are solely those of the author and do not – in any manner – serve as a recommendation for investment or financial counsel. Exercise caution when investing in cryptocurrencies and proceed at your own risk, as they are highly volatile and you may incur losses.

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