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SOCIALMEDIA.MARKET - DETAIL ICO REVIEW

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The SocialMedia.Market Token Sale

The ICO is currently in the process of beginning their official main token sale, which will officially kick off on February 9th, 2018 and run through March 16th, 2018. This comes after a week of pre-sale from February 2nd to February 9th. Unfortunately, United States citizens are not allowed to take part in the token sale.
The fundraising goal for the token sale is set at $13,100,000 which equates to 16,000 ETH, the currency the company accepts along with BTC. 0.01 ETH will purchase investors 30 Social Media Tokens (SMTs), which is the minimum contribution that is accepted. 1 ETH will therefore equal 3000 SMTs. The maximum contribution will be 300 ETH. They state that their minimum goal for the token sale was already reached during the pre-sale period. During the pre-sale there was a 20% bonus offered, while the public sale will include a bonus that starts at 15% and declines to 5%.
A total of 50,000,000 tokens will be created, 80% of which is available for purchase as part of the token sale. Another 15% will be reserved for the functionality of the platform, with the last 5% to be reserved for the Partners and Advisory board.
Detail Token
ICO
SocialMedia.Market
Token
SMT
PreICO Price
1 ETH = 3,000 SMT
Price
1 ETH = 2,500 SMT
Platform
Ethereum
Accepting
BCH, BTC, DASH, DOGE, ETC, ETH, LTC, XMR, XRP, ZEC, NEO
Bounties
Available
Bonus
Available
Min. investment
0.1 ETH
Hard cap
16,000 ETH
Country
Ukraine


Token sale Phase 2

Start date: 9 February 2018 12:00 pm GMT (1:00 pm CET)
End date: 23 February 2018 12:00 pm GMT (1:00 pm CET)
Pre-sale: TBD

Soft cap: 2.000.000 SMTs
Hard cap: 30.000.000 SMTs

Token exchange rate: 1 ETH = 700 SMTs
Minimum contribution amount: 0,01 ETH / 7 SMTs
Maximum contribution amount: limited
Contribution methods: ETH, BTC

Bonuses: NO BONUSES WILL BE PROVIDED

After token sale phase 2, all unsold tokens remaining from both sale phases will be burned.


Who’s Behind SocialMedia.Market?

Through the SocialMedia.Market website, their most influential and highest-ranking employees are identified. The CEO and Founder of the company is Dmitry Shyshov. Shyshov has founded and been CEO of two other companies – R.Games and Nontita Limited. He states that he has significant experience in influencer marketing strategy. The co-founder and Chief Marketing Officer is Alexandra Morozova. She has worked in marketing with R.Games and Nontita Limited, and has years of experience in digital marketing with brands like Apple, Sony, Lenovo, and more.
The Business Development Lead is Viktor Perekhod who has worked with brands like Volvo, Samsung, and G2A to build marketing campaigns. The Tech Lead goes by the name Maksym Churkin who describes himself as a full product modular architecture specialist and Scrum master. He oversees all the technical aspects of the company and is responsible for making the platform eventually go live.
The site also offers a look at the advisory board of ICO which consists of 10 people, made up of executives, CEOs, vice presidents, entrepreneurs, and more. The company is based out of the Ukraine and has a full team of over 20 people.

Conclusion

The concept of SocialMedia.Market should be credited for identifying an inefficiency within the area of marketing and attempting to address that inefficiency through a decentralized approach using Blockchain technology.
Unfortunately, the seemingly limited appeal of the idea to just influencers/bloggers and brands makes us question the ability of the platform to grow and establish itself in a world that is still learning to accept influencer marketing as a whole.
Additionally, the website does not provide many specifics regarding how the platform itself actually functions, aside of offering a beta trial that you will need to sign-up for in order to try. There is no description or view of the actual tools that will be offered to allow the users to discuss contracts and payment, although the site assures us that it will be simple and safe.
Overall, the ICO is intriguing with some potential for growth, but we will take a wait a see approach as to its viability.

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Author by asayoyaasa

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