This morning I want to go over the Dorado ICO which is getting some attention.
Like all ICOs I am not a financial advisor and always do your own research when investing in any ICOs. Just because I like or dislike an ICO doesn’t mean you will feel the same.
So today I will take a closer look at Dorado and what this token is all about.
Dorado ICO Review
This particular ICO has actually been running for quite a while now.
That hard cap is set at just about 68,000 Ether which is approximately $36 million USD.
Dorado is giving away a maximum bonus of 33% and there is no presale according to their Telegram channel. They are selling 51% of their tokens during the crowdsale with a token supply of 510 million.
So Dorado wants to create a blockchain based drone chat bot in AI technology. An echosystem built out in an already excisting and profitable food delivery business.
Lets begin by looking at the Dorado positives sound good?
Dorado Project – The Good
The project has an actual business with over 200 team members involved including the COO of eBay Russian.
Dorado’s parent company the Food Corp Group is operating in six countries. It sells in excess of $50 million USD. It also has over 1 million clients on its platform.
So this is probably sounding like music to your ears but wait a moment. Remember it doesn’t matter if you have an established business. You have to be acutely aware ahead for that business.
There have been many companies in the past trying to create new ventures only to fail. I’m not trying to be negative but that’s the reality.
Dorado also has partnerships with some well known companies which is a good thing. So there are some great thing with Dorado but like most ICOs. There is always some bad to be found unfortunately.
Dorado Project – The Bad
Firstly their token model lacks utility. Business to business transactions do not integrate well with cryptocurrency. What would the tax man say?
Second Dorado will be competing with companies like Amazon who are doing sort of the same thing on a much larger scale.
Amazon spends millions each year researching and prototyping the same things.
Finally you have to remember cryptocurrency is a very volatile asset. I’m not sure if it would work
Dorado ICO Timeline
Dorado ICO – My Conclusion
Well if I were writing this a few weeks back I would give them a higher score for hype. Most ICOs that carry on for weeks usually lose some steem as did Dorado. It’s been a very long crowdsale. So it gets an average score for hype.
The team overall is pretty good. It’s large that’s for sure. But I’m only going to give them an average score. I never look at ICOs on isolation. I always compare to previous ICOs. Overall Dorado’s team doesn’t compare to an EOS, OmisiGo and all the other companies that have done very very well.
Dorado ICO token metrics gets a below average score. They are asking for a large sum in an average market. Personally I am neutral on this project and won’t be investing.
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