Acorn Collective claims to be the future of crowdfunding. Find out how the project works today in our review.
What Is Acorn Collective?
Acorn Collective, found online at ACO.ai, promises to change the face of crowdfunding using blockchain technology. The platform claims to be “the first to be free and open to any legal project in any country.”
Using Acorn, anybody from anywhere in the world can raise funds. Today, major crowdfunding platforms like Kickstarter are widely popular, but they don’t operate worldwide. These platforms turn away billions of users because of their geographic origin. Acorn wants to work differently.
Using blockchain, Acorn is creating a platform that’s free to use anywhere in the world.
How Does Acorn Free Worldwide Crowdfunding Work?
Acorn is a blockchain-based crowdfunding platform. The platform revolves around the use of an ERC20 token. That ERC20 token leads to small transaction fees. While other platforms charge 3-5% fees on all payments, Acorn avoids charging any platform fees while ensuring transaction fees are minimal.
In comparison, other crowdfunding platforms charge transaction fees of 3-5% and platform fees of 5% on top of that.
Acorn doesn’t quite accept any project from any country. The platform will only allow legal, non-harmful projects. However, projects will be accepted from all over the world. The fact that Acorn is free to use may make it a more attractive option in developing countries.
The core parts of the ecosystem include:
- A crowdfunding hub
- A secondary marketplace to sell post-crowdfunding goods and services
- A point of sale payments app
The Acorn token, or ACO, that allows for cheap and fast transactions within the ecosystem, including all transactions between backers, companies, and consumers through a single token
Overall, the Acorn whitepaper explains that crowdfunding has democratized access to fundraising. However, it’s not truly “democratized” until the entire world has access to it. Traditional platforms like Kickstarter and Indiegogo don’t accept clients from all over the world. Acorn will accept clients worldwide.
Acorn will also contribute to projects by providing a selection of services. Those services include all of the following:
- Legal assistance
- Sourcing and manufacturing
- Technical help, including the development of web, mobile, and blockchain applications
- Accounting and taxes
- And more
Acorn will provide these services in exchange for a fee. In select cases, they might also provide services for equity in the company.
The Acorn Collective OAK Token ICO
The Acorn ICO begins with a pre-sale (at a 50% discount) from January 29 to February 19, 2018.
That token sale is followed by the main ICO, scheduled for February to March 2018.
The ACO token will also have token growth and stability mechanisms. These tools are designed to support ACO prices. Some of the mechanisms include The Project Incentive Fund, which will provide generous starting bonuses to early adopters of the platform. There will also be a Liquidity Reserve, Project Backer Insurance (available for a fee), and an affiliate rewards system.
There’s a fixed supply of 90 million ACO tokens (maximum). 80% of the total supply is reserved for ICO contributors, 16.66% is reserved for the company (under time lock for up to 2 years), and 3.33% is reserved for bounties and community rewards.
The price of tokens is set at a rate of 1 ETH = 250 ACO.
Who’s Behind Acorn?
Acorn is led by Dr. Moritz Kurtz (Co-Founder and CEO), a digital currency investor, entrepreneur, and doctor with 4+ years of experience in anesthesia, intensive care, and emergency medicine. Dr. Kurtz has launched web businesses and ran digital marketing campaigns for a decade.
The other co-founder is Peter-Andreas Kurtz (CFO), a corporate finance specialist with 40 years of experience working for top European banks in Frankfurt, New York, London, and Hong Kong.
Other key members of the team include Ed Earle (CTO) and Edward Lobbett (COO).
The team behind Acorn was formed in Q3-Q4 2017. The MVP of the platform will be released by mid-2018.
Acorn lists offices in Gibraltar, Bristol, and Hong Kong.
Acorn Collective Conclusion
Acorn aims to democratize the world of crowdfunding by creating a blockchain-based platform where anyone can participate. Acorn users use ACO tokens to make transactions or contribute to projects. Users can come from all over the world. Traditional crowdfunding platforms restrict users based on their geographic location. Acorn does not.
Acorn’s ICO is underway until March 2018. You can purchase ACO tokens for use within the platform. The platform, however, is completely free to use.
To learn more, visit online today at ACO.ai.