As the initial coin offering ecosystem grows, it’s becoming increasingly difficult for investors to identify high quality, promising offerings. The unregulated nature of the initial coin offering market, combined with the rapid growth in consumer awareness of crypto currency, has led to a flood of poorly established ICOs with little to no oversight.
Not all of the ICOs on the market today are even worth considering investing in. Most of these ICOs fail due to the fact that their core concepts are poorly articulated, there is no market need for the platform they propose, or they are simple ponzi schemes that are attempting to capitalize on the tokenization craze.
More than 51 projects launched initial coin offerings between the 1st of July 2017 and the 25th of September 2017, but less than 40% of these projects actually reached their funding goals. Unfortunately, there are no comprehensive methods of assessing an ICO to determine whether it is able to succeed, but the ICO market has been developing an autonomous immune system against fraud in which a serious offering must possess at least a few minimal factors.
The ICOs that are most likely to succeed generally provide a comprehensive white paper, detail the history and experience of their core team members and development team, and already have a working product or platform that the ICO intends to expand upon.
The Teky ICO is a new platform that meets these criteria. Functioning as an e-commerce store that focuses on the sale and distribution of tech-oriented products and educational toys, Teky is aiming to corner the Southeast Asian online tech market while educating the next generation.
The Teky ICO is intended to help Teky establish a platform-native crypto token and develop an online e-commerce store and learning academy. In this article, we’ll take a look at the Teky ICO and find out what it plans to achieve to help you determine whether it’s a good investment choice.
What is Teky?
Teky aims to create a cryptocurrency-based e-commerce platform, but wants to create a solution that is different from your average online store. The Teky project will establish the Mek.store, which will offer a diverse range of educational toys, drones, VR equipment, 3D printers, and STEM-oriented educational resources.
In addition to stocking big-brand electronics, the Mek store will also offer a range of inexpensive lesser-known brands from China. The Teky platform will also integrate with the Teky Academy, which focuses on delivering online tech based education to children between 4 and 17 years of age.
The programs offered by the Teky Academy will focus on Programming & Application development, 3D Technology, Robotics & Engineering, and Technology & Multimedia. The Teky platform is also driven by experienced leaders- Emme Dao, the group CEO, is the mind behind successful ventures such as the NextTech group and WeShop Group Holdings .
The Teky ICO
The Teky platform will operate on the TKC Utility Token, which will be used for purchasing tech products on Mek.Store, or purchasing any of the technical courses that the Teky Academy offers. In addition to providing users with functionality as a working currency, the TKC Utility Token will also provide holders with annual dividends.
The Teky pre-ICO is currently underway, and will run until the 10th of December 2017. The ICO of the Teky platform will run from the 15th of December 2017 to the 14th of January 2017, and has a goal of generating $25 million USD.
To achieve this goal, Teky will generate 280,000,000 TKC Utility Tokens, 154,488,000 of which will be available for purchase across both the pre-sale and the ICO itself. During the crowdsale, 1 TKC will be equal to 0.161 USD.
The Teky TKC Utility Token is based on the ERC20 standard. During the ICO, investors will be provided with a 25% bonus on token purchases- the pre-ICO phase offers significantly better bonus rates, at 40%.
The TEKY Verdict
The Teky platform is an interesting take on the use of cryptocurrency for e-commerce applications, and is backed up by a significant amount of capital and team experience. In addition to offering use as an e-commerce solution, Teky also wants to assist in the education of the next generation of technological innovators- if you’re interested in helping to achieve this goal, the Teky platform is worth investing in.