What is an Initial Coin offering (ICO)?
An ICO is basically the crowdfunding version of cryptocurrency. These allow the founders of a cryptocurrency to generate capital to grow, work-on, and polish its cryptocurrency.
It offers shares to buyers in exchange for money or any other cryptocurrency. This gives an incentive to both the buyers and the founders of the cryptocurrency to see their cryptocurrency grow.
What are the details of SpaCoin’s ICO?
- SpaCoin’s ICO starts at 15:00 GMT in the 12th of December, 2017.
- SpaCoin’s ICO ends at 15:00 GMT in the 25th of December, 2017.
There will be 2 rounds of Crowdsale:
- 5 Million SPA tokens will be sold.
- It starts at 15:00 GMT in the 12th of December, 2017.
- Ends at 15:00 GMT in the 21st of December, 2017.
The token exchange rate will be announced later. But it will surely be at least 20% greater than its pre-sale rate.
- 5 Million SPA tokens will be sold.
- It starts at 15:00 GMT in the 22nd of December, 2017.
- It ends at 15:00 GMT in the 25th of December, 2017.
The token exchange rate will be announced later. But it will be at least 20% greater than its pre-sale rate.
What are SpaCoin ICO’s Softcap and Hardcap?
SpaCoin’s ICO will have a Softcap of 300 Bitcoin or 6000 Ethereum.
Its Hardcap will be 1200 Bitcoin or 24000 Ethereum.
About Spa Foundation
Spa Foundation is the company that’s behind SpaCoin.
Spa Foundation has been known as the leading organization in the beauty industry of Asia.
Having more than 30 branches, Spa Foundation has become the largest Spa chain in Vietnam, Laos, and Cambodia.
Employing over 300 dedicated and professional beauty technicians. It has more than 8 types of the most cutting edge beauty technologies available.
History of Spa Foundation
Spa Foundation was officially created in the 11th of August, 2015. Till now, Spa Foundation over 30 branches have been created. It had its first branches in Cambodia.
It is estimated that there will be about 55 branches of Spa Foundation by the year 2019. And 70 branches by the end of 2020.
Development Plan of SpaCoin
- It has been planned that at the end of the ICO, 50 more branches of Spa Foundation will be established.
- The founders of SpaCoin will then focus on developing an independent Blockchain system.
- Then a user-friendly App will be developed. This App will have all the latest announcements regarding to SpaCoin.
- Payment through SpaCoin is to be widely stimulated by offering discounts and creating advertisements.
Allocation and Supply
There are two ways to join in SpaCoin.
- Buying SpaCoin; and
- Earning SpaCoin.
The funds received from the ICO will be distributed as follows:
- 40% of the funds will go to Business Development;
Spa Foundation will hire an experienced and competent CEO, who will build and lead a qualified sales team.
The funds will also go to promote Spa Foundation via beauty seminars, conferences, fairs, and other events.
- 20% will go to Marketing;
The expenses will be used for partnership developments and direct consumer marketing.
- 20% will be used for Software and Infrastructure;
The latest technologies will be crucial to helping Spa Foundation complete its tasks.
- The remaining 20% will be reserved for contingencies;
Even the best of plans may have some unforeseen situations that may arise. To counter those situations, the remaining 20% of funds will be used to deal with those circumstances.
The plan behind the ICO looks solid. The company, Spa Foundation, has a great history. As it is the first cryptocurrency relating to the beauty industry, SpaCoin looks to be very promising. Its potential popularity is limitless. It’s possible that SpaCoin will revolutionize the way we pay for Beauty products and it may as well pave the way for using cryptocurrencies in every industry. Eliminating the Government issued currencies.