This aft I want to talk about the Traceto ICO.
Before we move on just want to make sure you understand investing in ICOs is risky. Whether you are investing Traceto ICO or any other always do your own research and due diligence.
That being said lets take a closer look at Traceto shall we?
Traceto ICO Review
The company has actually put this ICO on hold. But to my knowledge it will still go ahead.
Traceto hard cap is set at $30 million USD. There going to have a 1 billoin token supply. There aim is to sell 30% in the crowdsale. The Pre Sale bonus is set at 5% which is very low which I personally like. Unsold tokens will be burned.
So Traceto basically wants to create a decentralized identity verification system streamlining KYC procedures.
It’s actually quite similar to the Safein token. I know it seems like the same ole but hear me out here.
If all of this is confusing you should read this first:
Traceto Token – The Good
If we look at the positives we can see that Traceto parent company is already helping companies like ICON with KYC procedures.
The second positive of Traceto is the utility of it’s token. It can take ICOs, tokens and other entities in crypto to help validate KYC and other procedures.
With good there is usually some bad with almost all projects.
Traceto Token – The Bad
For one it has a lot of competition in this niche. You have Safein, Self Key, Civic, The Key, Sovereign and the list goes on.
All of these identity tokens want to do similar things.
Also it’s important to note that government oversight and legislation can be a double edged sword.
On one hand Traceto blockchain development is still in the very early stages. Any advantages they would of had along with other similar tokens could come across problems in the future with changing laws.
Yet on the other hand the ID verification market could have a stronger demand if the market and government calls for it. So it’s really hard to say what directions tokens like Traceto will move.
Traceto – Breaking It Down
In the hype category I’m going to give Tracety a bit below average score.
For the team I’m going to rank the very high. They all know what they’re doing and have a lot of experience. Could even be at the World Class level possibly.
They also already have a working business model which is a plus.
With the token metrics I just feel they are trying to raise too much money. However they are going to be burning unsold tokens. So in the grand scheme of things I don’t really think it’s going to hamper any future development.
So I give it an average score for the token metrics.
Traceto – Bottom Line
I think the main thing Traceto has to do is get their marketing on point. If they focus on marketing I believe Traceto has a good chance of hitting their hard cap and being a successful ICO.
Traceto needs to focus on how their product is different from their rivals and why they should invest in them. They need to focus on that to succeed in such a saturated market.
Traceto ICO – My Conclusion
So at the end of the day it’s up to you whether or not you’re going to invest. Personally I’m not investing in Traceto. The market has improved over the past couple weeks but we are still not in a bull market.
If an ICO isn’t a blockchain or infrastructure project I won’t be investing unless something complete blows me away.
Again I want to stress I am not a financial advisor and I am not always correct. Nobody in the crypto space bats 100% we all make mistakes. So do your own diligence. At the end of the day whether you invest in Traceto or any other ICO for that matter is your decision and yours alone.
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