Recently Finished Tokensells: Naga ICO Providing Technology for Financial Markets
An ICO one should keep their eyes on that recently finished its tokensell is Naga group and there are many red flags with this ICO. It is a German-based fintech startup and it wants to create technology for financial markets. The company operates under numerous subsidiaries like Swipe Stocks, Sweet X, and the GMBH consortium. They have basically gotten their fingers in many pies and the project may be overly ambiguous and lacking an overall sense of direction and purpose. One has got to remember the gaming industry and financial markets have many sub-sectors and subdivisions within them and the Naga group basically wants to tackle the whole thing. One can not really predict how this will take off. One of the biggest red flags is that fifty percent of tokens generated from that ICO will actually go towards marketing. Half of their budget allocated towards marketing is a huge cause of concern. The CEO has never contributed to GitHub even though he has been a member since 2013.
As a second red flag, the Swipe Stocks website has declining visitor numbers. It was a hundred and seventy thousand in May of this year. It had actually declined down to 85,000 by the October of last year. The Swipe Stocks trading arm of Naga does not actually require participants to use their token and it is not just Naga. One sees this with multiple ICOs where there is no actual need to use their token. Why would one then launch an ICO is one is not going to utilize the token to its full potential. The gaming branch of Naga, sweet X, could actually struggle with the market share because it is going to be trying to compete with steam and as everyone knows, steam is kind of like the main monopoly when it comes to publishing games. There is no mention on the Naga platform about any game publishers signed up to sweet X. The main problem with Nagas is that they want to do everything. If one wants to do something really well one should focus on that one thing for example Amazon in 1994 and their then CEO who did not do music streaming or household products or even cloud computing. Those things took 20 years to actually implement. Naga basically wants to do all that right away. That is not how business works and this is a problem with Naga. They are diluting their audience and they really need to get someone who knows about business on their team which is ironic because they claim they have been in business for many years. It does not really show.
In the case of token economics, they deserve around 1 because their hard cap is something around 200 million which is just too much. The team is alright but definitely not all-star. In terms of hype, it is really worrying as it is actually going upwards but it is simply a money grab project. People should actually be staying away from it. It is offering a 30 percent bonus and the pre-sale is already finished. One can foresee people losing out on this investment.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyze and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.