Crowdfunding raised to prominence with Indiegogo in 2008 and Kickstarter in 2009. It allowed entrepreneurs with innovative ideas to raise money to turn them into a reality.
Due to the centralized nature of these platforms, there are various limitations and obstacles to their functionality. They charge commission up to 20% and are not entirely available to all international investors. Even though they were created to empower the smaller entrepreneur, they soon became dominated by the larger corporations with larger marketing budgets.
Furthermore, as ICOs have become increasingly popular, there is little to no regulation surrounding them. This has caused various fraudulent campaigns where founders disappear and leave investors without any information. KickICO seeks to solve these problems.
KickICO is a unified platform for safe and easy fundraising for ICOs, pre-ICOs, crowdinvesting, and crowdfunding powered by smart contracts. KickICO seeks to provide the necessary resources to fundraisers so that they can successfully bring their ideas to reality – regardless of location, origin, or socio-economic status.
To raise funds for the further development of its platform, Kick ICO initiated a token sale of KickCoins (KC) on August 29th. This sale will end September 16th or when the hard cap is reached. The exchange rate is 1 ETH = 3000 KC and these tokens will be used in Kickonomy, as authors and community members alike will use the token to create an economic ecosystem that facilitates safe and secure ICOs.
A Closer Look
I had the opportunity to interview CEO Anti Danilevski to discuss the scope and vision for this decentralized ICO platform:
When and how did you realize that the blockchain could make crowdfunding more efficient and effective?
In 2015, but it was unclear how. Then there were smart contracts and everything immediately fell into place. Vitalik Buterin is a fine fellow, he did an amazing thing and changed the world more than Satoshi, in my opinion.
What will be the main differences between the KickICO product today and the KickICO product after the integration of the KickCoin and Kickonomy?
Now there is only a platform and no special functionality. All will begin just when we realize all the plans – community voting, first of all. Over time, the number of successful companies will grow, the KickCoin will be accepted in more and more projects, not just on our platform. Its liquidity will grow, and the issue will gradually decline until it is completely disconnected. Supported by the fund, into which tokens of other companies are stored, successfully completed the contracts on the platform, in demand in thousands of places, I’m sure that the KickCoin will take one of the leading places on the market.
It states in your whitepaper: “We believe the currency will not only grow in value over time, but will later probably be accepted for payment on the KickICO platform.” Why would you potentially decide for it not to be used for payment on your platform?
Sooner or later, when the emission is completed, this logical development of the platform – to accept KickCoin. We write carefully, so that users do not ask the same question. You can not promise something about which there are no specific dates and terms, otherwise you will have lots of negativity.
Given that you supply security and safety on your fundraising platform, it is logical that KickICO would take a percentage fee. However, why did you particularly decide on 4%?
We take 4% + 4% of tokens, and these tokens go to the fund, which will provide the KickCoin. Why 4%? This is the minimum percentage that will allow us to develop, and it is modest enough in comparison with all our competitors.
If I were to ICO on your platform, KickICO will receive 4% of ETH raised and 4% of my projects tokens. Can you briefly describe the different areas the Kickonomy will provide value to my ICO? Specifically, how it will provide the value of at least 8% of my total funds raised?
Do not be confused. We take 4% from crowdfunding in ETH. The rest 4% is exactly zero, and there is no guarantee that they will be worth more. On the contrary, the chance that their price will grow, personally I estimate no more than 20%, at best. In addition, do not forget that even if these tokens grow, they will not belong to us, but will be placed in our fund that supports the KickCoin. Thus, these tokens will belong to the community that owns tokens, which is beneficial to everyone – both the platform, and the authors, and especially the backers.
Thank you Anti, for taking the time for this interview and sharing with us your vision for a marketplace of ICOs and crowdfunding campaigns. The KickICO token sale raised $20m in its first 20 minutes and is still live. Further information about KickICO’s ICO can be found here.