KICKICO – Initial Coin Offering ICO Smart Contract Fundraising?
KICKICO is a smart contract-powered platform for ICOs, crowdsales, and other crowdfunding efforts. Find out how it works today in our KICKICO review.
What Is KICKICO?
KICKICO is an Ethereum-based protocol that aims to provide safe and easy fundraising for ICOs, pre-ICOs, crowdfunding, and crowdinvesting. The company aims to unify two young industries: blockchain and crowdfunding.
Both crowdfunding and blockchain technology have great potential, but the industries are filled with failed projects and scams. KICKICO aims to solve these problems by moving crowdfunding from centralized platforms (like Kickstarter) to Ethereum-based smart contracts.
Using Ethereum smart contracts, KICKICO significantly reduces overhead costs of running a crowdfunding campaign. Smart contracts also protect investors from failed projects. Investors are protected from failed projects through the use of blockchain-based tokens called KickCoins.
Overall, KICKICO describes itself as a blockchain-powered crowdfunding 2.0 platform.
How Does KICKICO Work?
Crowdfunding first began making headlines in 2009 with the launch of websites like Kickstarter and Indiegogo. Since then, however, there has been limited innovation in the field. KICKICO wants to change that using another new industry – blockchain technology and digital currencies.
KICKICO already has a fully operational platform. It’s not just a prototype. Users can already submit their projects through KICKICO.com and start to accept payments. You can view a list of active projects available through KICKICO today.
KICKICO is designed as an ecosystem. They call their ecosystem the “Kickonomy”. Members of that ecosystem include founders (the creators of crowdfunding projects), projects (ICOs, crowdfunding, and crowdinvesting companies), investors (people who support crowdfunding projects), and KickCoins (a domestic currency used on the ecosystem).
Together, these components make up the KICKICO ecosystem, which aims to deliver several important benefits to the modern crowdfunding space.
Benefits Of KICKICO
KICKICO aims to change the way companies launch crowdfunding campaigns, and how investors participate in crowdfunding campaigns. Here are some of the proposed benefits, according to the KICKICO whitepaper:
- Allows the creation of a marketplace within a platform
- Motivates project authors to be successful on the platform
- Motivates participants to be active
- Increases the liquidity of KickCoins
- Designed to protect investors and backers from failed or fraudulent campaigns
- Protects investors from defaults
The KICKICO ICO
KICKICO is holding its own crowdsales. The pre-ICO is scheduled for July 28, while the ICO is scheduled for August 29.
The campaign’s goal is to raise funds for the development of the project, including development costs, marketing, the educational crowdfunding academy, and team.
During the pre-ICO, 1 ETH will buy you 6,000 KickCoins (KC). That number drops to 1 ETH = 3,000 KC for the ICO and 1 ETH = 2,000 KC by the release.
The company claims to have already collected 500 ETH (with a minimum contribution of 50 ETH) from early investors.
Who’s Behind KICKICO?
KICKICO is led by founder and CEO Anti A. Danilevski. Danilevsky describes himself as the ideologist of KICKICO. He also founded Europe’s largest crowdfunding community (based in Russia). He’s also known for making browser-based games, including Carnage, which is one of Russia’s most popular games. Other key members of the team include Co-Founder and CFO Alexander Petrov, and Co-Founder and CTO Andrew Perepelitsa.
One of the awkward things about the KICKICO whitepaper is that it has an “Appreciations” section. That section is located where the “Advisors” section is typically located. In that Appreciations section, KICKICO thanks “the ideologists behind the largest crowdfunding projects in the blockchain economy”. Then, they post pictures of Vitalik Buterin (Ethereum), Bernard Lietaer (Bancor Protocol), and Sergey Sholom (MobileGo), all of whom successfully raised funds through blockchain-industry crowdfunding projects.
It’s a little misleading, because all of these people are listed where the “Advisors” spot is usually located in the whitepaper, despite the fact that none of these giants have anything to do with KICKICO. It seems like KICKICO is trying to convince you that major names are attached to the project, when in reality, they’re just pointlessly thanking these major names.
KICKICO was founded in November 2015.
How Does KICKICO Make Money?
KICKICO claims that crowdfunding campaigns on traditional platforms (like Kickstarter) pay fees of 15% to 40%. Platforms charge a 5 to 10% commission fee, another 5% for payment processing, and 10 to 30% as fiat money taxes and other charges.
In comparison, KICKICO claims that their platform charges fees of just 4% (in ETH) for ICO campaigns and 4% for crowdfunding campaigns. That fee is taken when the project has successfully completed its fundraising.
In the case of ICO campaigns that mint new tokens for backers, KICKICO takes 4% of the tokens or cryptocurrency produced by that campaign.
However, you don’t need to create your own cryptocurrency to launch a crowdfunding campaign on KICKICO. Instead, KICKICO encourages projects to rely on KickCoins (KC). KickCoins are useful when a crowdfunding campaign creator can’t really give away tokens – say, if a creator wants to produce a play or record an album, an ICO isn’t really appropriate, but they can still launch a crowdfunding campaign.
KickCoins aim to give rise to a new concept called “ICOs for crowdfunding”.
KICKICO is a working platform that aims to simplify the crowdfunding process for companies while minimizing fees. Today’s crowdfunding platforms like Kickstarter and Indiegogo charge fees of around 15% as a minimum. KICKICO, in contract, charges a fee of 4% in Ether once the campaign is completed (an additional 4% fee is charged if the crowdfunding campaign releases its own token as part of the campaign).
You can view active campaigns on KICKICO.com today, including two video games. Creating a campaign is easy and available to anyone.
To learn more about KICKICO, visit the platform online today at KICKICO.com.