Crowdholding, found online at Crowdholding.com, is a crowdfunding platform built on blockchain and cryptocurrency technology. Here’s our review.
What Is Crowdholding?
Crowdholding describes itself as “a decentralized open innovation platform that connects entrepreneurs and supporters.” The concept is similar to traditional crowdfunding platforms – Like Kickstarter – but uses blockchain technology and a digital token to make it more efficient. And, instead of focusing on raising money for startups, Crowdholding is more focused on raising ideas for startups.
Entrepreneurs can use Crowdholding to get an idea of how a particular upgrade or change might work. They can rely on a network of independent business advisors, and give the Crowdholding community a share of future revenue based on their contributions to the ecosystem.
Crowdholding’s digital token is called YUPIE. The pre-ICO for YUPIE launched on August 15, although the public crowdsale will start on November 1. YUPIEs are exchanged between startups and contributors on the Crowdholding platform.
Crowdholding is registered in London, although the company seems to have its main office in the Czech Republic. The company was founded in August 2016
How Does Crowdholding Work?
Basically, companies can use Crowdholding to access a crowd of supporters who have various skills, products, and services. Supporters can use their unique skills to contribute to the company in exchange for tokens.
Companies pledge a certain percentage of their future revenue to supporters. A company can pledge as little as 1% of future revenue.
When that company or organization needs suggestions or ideas, they consult with the crowd. Once the idea is commented, liked, and upvoted, they receive a reward called crowdshares.
Through this system, entrepreneurs can “crowdhold” their idea. They can see if a certain idea is the right choice for the future of their company based on the response of the community.
Here’s the Crowdholding process broken down in step by step form:
- A new product is released – like a game, for example
- The company pledges 5% of its earnings
- You leave feedback and ideas about the game
- You receive a share of the 5% earnings based on the quality of your ideas
Benefits Of Crowdholding
Crowdholding advertises all of the following benefits:
Enhance Products: Entrepreneurs and their companies can build better products with the support of a crowd, ultimately improving the experience.
Validate Ideas: Entrepreneurs can develop, refine, and validate ideas with an engaged community.
Increase Awareness: Crowdholding facilitates word-of-mouth marketing, and makes it easier for entrepreneurs to advertise with the crowd.
Build Your Professional Portfolio: Supporters can build a professional portfolio of businesses they advised. You can be legitimately listed as an advisor to a specific project if your Crowdholding idea gets supported.
Earn YUPIEs: Supporters earn YUPIEs while getting to co-create with companies they love.
Early Access: Supporters can get early access to innovative products before the general public.
The Crowdholding ICO
The Crowdholding ICO will see the release of YUPIE tokens. There will be a total supply of 631 million YUPIE tokens.
The token sale started on August 15 (pre-sale) and is scheduled to end on November 17. The general crowdsale, available to the public, starts on November 1.
The company is setting a minimum target of $1.5 million, a core goal of $10 million (soft cap), and a core goal + all stretch goals achieved at $50 million (hard cap). All amounts will be in ETH.
45% of the total supply of tokens is available during the ICO. 20% is reserved for the team and experts; 10% for company expenses; 19% for future use; 5% for startup funding; and 1% for bounties.
The pre-ICO price for YUPIE tokens is 1 ETH = 3,000 YUPIEs. The crowdsale price is 1 ETH = 1,000 YUPIEs.
The value of the YUPIE token is based on the large number of businesses launching projects on Crowdholding. By increasing the number of businesses, and ensuring those businesses are successful, Crowdholding plans to continuously boost the value of its YUPIE tokens.
Who’s Behind Crowdholding?
Crowdholding is led by CEO Ethan Clime, CMO Aleks Bozhinov, CTO Rosario Colletti, Blockchain Architect Chris Fronda, and COO Paolo Lacche.
The company claims that its executive team comes from some of the biggest tech companies on the planet, including Google, Skype, HP, and Oracle. Complete details about the team, including links to their social media profiles, is available at Crowdholding.com or through the company’s whitepaper.
The Crowdholding parent company is registered in London, UK, although the main company office appears to be located in Czech Republic.
We already have platforms where entrepreneurs can raise money from a crowd for their startup. With Crowdholding, we have a platform where startups can get ideas from a crowd of qualified individuals – like business advisors and other professionals.
Crowdholding’s ICO is taking place throughout the end of 2017, with the full platform expected to launch in 2018. You can learn more about the company online today at Crowdholding.com.