Ethereum
$3,450.67 -5.10%
ETH · 205w

We need to demand more from ICO teams

I get the feeling that ICO season is coming back around. I'm looking forward to seeing the next wave of projects as much as everybody else, but I think it's time we start demanding more from teams raising tens of millions of $$ worth of ETH. To date, I am only aware of one upcoming project that have actually built a project ahead of their ICO, it is shocking (and hugely disappointing) that the vast majority of teams continue to attempt raises with nothing more than a website, whitepaper, and a promise to build something. Any of you who were around 18 months ago would know that for the most part, we're still waiting on many of these teams to deliver on their promises, despite now having tens of millions (and in some cases hundreds of millions) in underlying assets. However, in contrast to the ridiculous raises we've seen recently, many of the earlier projects raised $3-5 m USD in their ICO, so our expectations were not as high. But I can't help but feel we really should be demanding more from projects going for outrageous asks like $50+m. At the end of the day it's ultimately up to us to keep them in check. Founders will continue to exploit our trust, so long as we continue to let them get away with it. Perhaps we can start a thread (or use this one) to list & track projects that have actually built something. I'm struggling to keep up with all the projects these days, so it would be helpful to harness the wisdom of the crowds.
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