An ICO one should keep their eyes on that recently finished its tokensell is Sparkster ICO. Sparkster wants to build a software as a service platform where smart contracts are built without the use of coding skills. The service they seek to offer will run on top of the Sparkster decentralized cloud which will support more than ten million transactions per second. The sponsor’s hard cap is set at thirty million dollars and it is going to have 435 million tokens as its total token supply. Moreover, it is going to have a 67 percent circulating supply bonus. Tokens are going to be locked up for one month and the maximum bonus is going to be set at 30 percent for pre-sell. 215 million tokens were allocated to those pre-sale investors. There is only one thing about this project that is actually likable and that is the fact that it actually has a support of a key influential Youtuber. Influences in the crypto space come with their advantages and disadvantages. On one hand, it generates lots of hype and yet, on the other hand, one gets large amounts of inexperienced investors attracted to the project who do not know what they are doing. At the first sign of volatility, these new investors will most definitely panic and sell their tokens because they bought into the project under a big name and not because they had an intrinsic belief in the ICO brand or product offering.
There are really four things one may not like about Sparkster. Firstly, their website shows six thousand four hundred and sixty-seven transactions per second which is less than 0.1 percent of the ten million transactions per second claimed on their homepage. The second thing that is unappealing is their marketing. There is too much marketing in a very short timeframe and that tells one that Sparkster really wants to grow speculatively and not organically. If their product offering was that good, users would actually gravitate towards their services and cultivate an interest in their product naturally. One doesn’t see that happening. The third thing would be the advisors. They are all weak for a product that claims to have faster transaction speeds. It lacks reputable sponsors and has no strong partnerships. Finally, according to their roadmap, they have been in the making since 2014, however, their website and social media accounts contradict this. Their website was created in December 2017 with their Twitter and Facebook accounts being launched at or around January of this year. There is no real harmony between their roadmap and social media accounts.
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.