Legacy fundraising be like!

Originally, to fund a new project you had to resort to traditional means-official or not- some families had enough money to fund their children's dreams others resorted to getting loans from banks, and of course the more connected and successful conducted IPOs. Despite the many ways projects found it’s seed funding this left a major portion of the entrepreneurial brains of this planet without any means to fund their projects, some of which had the potential to change the face of the earth.

The crypto-funding revolution.

In the age of cryptocurrencies, Initial token offerings, ICOs and lately STO’s and IEOs became the current norm for indie-project creators, the difference between each can be explained as follows:

ICO is when a team releases a token or a new blockchain-based cryptocurrency for the sake of collecting funds to release a new project and after securing enough funds and the project is realized, they start efforts to get the new token available on exchanges so it can be traded publicly by their initial investors or new people interested in the project, while an IEO is basically the same thing, it has a main difference is that the whole project is released through an exchange which also means that the token will be directly available on the exchange as soon as the project is live, one more thing an IEO offers is a sense of security for the investors since it stands to reason to assume that no exchange will host a project without doing their due diligence first.

The crypto-controversies.

But due to controversies that arose around the concept of an ICO and the debate whether the token offered is a utility token or a security token with problems especially for US users a new form of crypto crowdfunding was born: STO, where unlike utility tokens are issued with no expectations of monetary profit, a security token is issued with that exactly in mind while placing greater restrictions on entrepreneurs having to satisfy monetary laws and pay high registration fees, it gave investors a safety net not fearing scams and theft that was so prevalent during the ICO hype.

mintMe lowers the bar.

The most common thing between all forms of funding, crypto or otherwise, is the amount of effort and funds needed to be recognized and actually get any seed funding for your idea, this is why at mintMe we decided to make crowdfunding more accessible than ever before, even though token creation have always been easy, but it was always reserved for tech-savvy individuals or those with deep pockets, meaning that if you have a great idea, but no connections and no initial funding you won’t be able to jumpstart your idea, but mintMe even made the need for early-stage developers obsolete as simply you can create a token-based on its native Webchain currency (soon to be changed to mintMe Coin) and from there the sky's the limit, even though this still means that a team of writers, designers and eventually developers are still needed, it greatly takes much of the strain of finding a good developer and employing a third party to examine the smart contract as all of this is automatically done by mintMe which stands at an equal distance from all its users.

Currently, most crowdfunding platforms like Patreon and the such offers users no return for offering patronage to creators, in addition to that, a hefty fee that’s deducted from every donation given to the creators. This creates an unfair situation for both the creators and the donors where a middle-entity gets a portion of the donation for no other reason than facilitating the transaction.

"... at mintMe we decided to make crowdfunding more accessible than ever before ..."

The mintMe advantage.

This makes the mintMe model superior as mintMe operates like a regular exchange the only fees that are taken are regular trading fees and withdrawal fees which are much less than what any other crowdfunding platform takes out of donations. In addition to the fact that while other services get donations or patronage mintMe offers the creator the ability to reward patrons with tokens that may increase in price depending on the individual success of creators. Meaning that patrons are not donating to their favorite content creators but more like investing in their success and showing faith and support which in turn would boost a creator’s self-esteem leading to improved content.

But, the most genius thing about this concept is the accessibility, crowdfunding through tokenization has always been reserved for programmers and crypto-enthusiasts, but with mintMe’s new model regular creators from all kinds of fields; such as fashion influencers and foodies and all kinds of non-techy fields can have their tokens allowing their supporters to invest in their success and expect reasonable gains.

Written by: MOE