The void in the cryptocurrency soundtrack led to the creation of teamHODL, which literally means ‘Holding On for Dear Life’. TeamHODL embraces the idea to initiate a cryptocurrency soundtrack in users have control over the sales generated from album sales and merchandise. While several songs of different quality exist, there has not been a combined effort to come up with a consolidated body of work.
TeamHODL ICO kicks off on December 01, 2017 and will run up to 30th of the same month. If you are interested in the ICO, you can send ETH to their ICO address. Considered by the creators as no ordinary album, TeamHODL seeks to initiate a crowdfunding solution in which every sale of the album is tied to token generation.
TeamHODL is a simple one that will enable investors or supporters to purchase Ethereum based ERC-20 tokens during the crowdsale. The tokens will have a valuation according to a fixed percentage of the total revenue generated by the project’s future sales. Utilizing the blockchain technology, both the albums and merchandise will sell for Ethereum and 20% of the total sales will be routed to an escrow account where participants will be able to view it publicly for any reference.
According to information available on their whitepaper, the ICO period runs up to December 29, 2017. When the ICO period ends, the token price will correct the value of current sales. This value is expected to grow and surpass the opening buy-in cost. In addition, by using realistic estimated total revenue, artists, fans, and supporters will be able to justify the value of their tokens and their fundraising goals.
TeamHODL ICO Specifics
In terms of figures, teamHODL aims to raise 3,500 ETH. The platform seeks to venture into a voracious and untapped market, in which it plans to release music videos that will go viral in various digital platforms. Together with merchandise that could outdo the music into the teamHODL brand, the network aims at sales amounting to 3,500ETH. Here are some of the ICO specifics:
- One-month period of crowdsale, running from December 01 to December 29, 2017
- 140,000 teamHODL sold at 0.005ETH
- 20% of Total Revenue towards token value
The estimated 3500ETH token value implies a break-even point. In other words, if the platform achieves its target of 7000ETH sales, then a participant will have made a 200% ROI.
TeamHODL – Transparency and Accountability
To ensure a transparent process of sharing the generated revenue, teamHODL intends to integrate their smart contract with an external code. This step will ensure sharing at the appropriate rate.
What it means is 20% of the total revenue can be collected at a point of sale and routed to a separate Escrow account. In that account, members in the network can easily monitor and audit the funds through an online portal. With that method, every member can check the accurate Base Value of the token. They can also monitor the trajectory of the token in real time.
More importantly, teamHODL has a strong team of professionals to manage its affairs and ensure that it achieves its long-term goals. More is available in their whitepaper.