IAGON ICO - Revolutionizing the Cloud or Money Grab Scam?

Spread the love

Today I’ll be talking about the new IAGON ICO.

With cryptocurrency gaining some steam over the past week is now the time to invest?

Lets take a close look at IAGON shall we?

IAGON – ICO Review

So what is IAGON? Well the company wants to make the storage an extraction of algorythmic and computer patterns for the use in AI simulations more affordable and cost effective.

IAGON has a $30 million dollar soft cap and $77 million dollar hardcap. Over 70% of it’s tokens are going to be sold during it’s ICO. It’s also operating at 20% team bonus.

So lets take a look first at the positives behind the project. And not there is not an airdrop so don’t get your hopes up!

IAGON – The Good

The first thing I noticed was that the team was extremely transparent.

From what I have been told the CEO is answering any and all questions. This can be a rarity in the crypto space from my experience.

The second thing to note with the IAGON business model seems to garner that attention of different centralized and decentralized services. Companies like Scorge and Dropbox could access nodes and minors on the IAGON network.

Third thing I noticed is this token it uses a proof of variance and not a proof of work protocal to solve equations.

Proof of variance is just a way of classifying how each minor bases their contribution into a pool. Minors from lower pools get upgraded or downgraded based on several factors.

The main two factors are speed and the amount of data minors are able to find.

IAGON Target Market

Then we have the market that IAGON is targeting. AI and big data is a trending industry. The cloud storage market is projected to grow at a compounded annual growth rate fo 30% minimum.

If it’s able to have that growth it brings that market to around $94 billion dollars by 2022. That market for AI computatoinal power looks to have strong growth over the next 5 years.

It’s like this with most big ideas as investors are constantly chasing the next unicorn sort of speak.

These are all the good things with this ICO. But like most companies and ICOs there is some bad or things to be aware of.

IAGON – The Bad

First I would like to point out the team. Despite his all star credentials the CTO is overly invested in too many projects.

To be fare this isn’t only a criticism with IAGON I see this with many ICOs. It’s very common for All Star teams or advisors to be involved in too many projects.

As soon as you spreading yourself to thinly it increases the marging for error.

The second negative I see with the IAGON project is that investors seem to lack awareness into what IAGON is actually trying to build.

The community is unaware of what the project IAGON is really trying to do. This could hamper widespread adoption of their token and use case.

IAGON Bottom Line

So overall I can’t score this ICO highly. For hype it gets an average score with a decent community. The team I really wanted to see more All Stars and heavy hitters. So it’s less then average. For token metrics it scored poorly. With a $70 million hard cap it won’t cut it with current market conditions.

IAGON from what I can see is NOT a scam or a money grab. It just seems a bit confusing for my taste. I would also like to see a bit more focus on the project itself. The team seems to be in a lot of different places. And lastly that soft and hard cap is a quick no for me.

Personally I won’t be investing with IAGON but like anything I am not a financial advisor I am just letting you know what I’m personally up to in the market. Make sure you do your own research before investing in IAGON or any ICO for that matter.