The Acorn Collective is using blockchain to help founders and startups find access to funding. They’re provide crowdfunding that is accessible, transparent and more likely to succeed. It’s a huge and growing market in the West and a largely untapped market in most developing countries.
It is predicted that the crowdfunding industry will hit $1 Trillion in the next 5 years! But it is predominately European and North American based.
So essentially, they are promoting social enterprise, by providing free crowdfunding for an legal project in any country, but particularly in developing countries.
So from looking at the site, first impressions are, its a clean, slick site, and I love how it navigates. I know its not a major thing, but a nice site with easy to find information is a great start! I often think, why do some projects make it so difficult to find critical information.
Any, the problems The Acorn Collective have identified are
Problem & Solution:
– 78% of crowdfunding campaigns fail to achieve their raise target
– 62% of potential backers didn’t believe the project was legitimate
– 1.9% of raised funds go to developing countries
– 27% of campaigns fail even with starting capital
– 62% of potential backers didn’t believe the project was legitimate
– 1.9% of raised funds go to developing countries
– 27% of campaigns fail even with starting capital
The Acorn Collective aims to address this in several ways.
Accessible Crowdfunding
We are more accessible than any other platform by allowing all countries and listing any legal & ethical project. Where other platforms charge 5-10% just for the crowdfund, we’ll do it for free. Our flexible funding structure means founders do not need excessive seed capital. Their target market is developing countries.
We are more accessible than any other platform by allowing all countries and listing any legal & ethical project. Where other platforms charge 5-10% just for the crowdfund, we’ll do it for free. Our flexible funding structure means founders do not need excessive seed capital. Their target market is developing countries.
Project Success
Our Crowdfunding Engine improves campaign success rate. It provides the tools to execute successful crowdfunding campaigns, the statistics to make the right decisions and access to lists of backers with a proven history of supporting similar campaigns. Smart contract milestones can be used to release funds early.
Our Crowdfunding Engine improves campaign success rate. It provides the tools to execute successful crowdfunding campaigns, the statistics to make the right decisions and access to lists of backers with a proven history of supporting similar campaigns. Smart contract milestones can be used to release funds early.
Blockchain Transparency
Blockchain provides full transaction transparency, resulting in increased trust and a higher crowdraise for the founders. All transactions are done via OAK, an Ethereum token. Projects’ spending can always be tracked, in turn making backers more willing to support a campaign with more money.
Blockchain provides full transaction transparency, resulting in increased trust and a higher crowdraise for the founders. All transactions are done via OAK, an Ethereum token. Projects’ spending can always be tracked, in turn making backers more willing to support a campaign with more money.
Acorn Marketplace
An integrated Acorn marketplace provides campaign services from Acorn and 3rd parties. Post-crowdfunded projects have immediate access to list their own service or project on the marketplace. Founders will have optional premium access to data about backer trends and past campaigns to make the right decisions about their campaign. This improves success rates in the campaign and post-crowdfunding delivery stage.
Attractive Tokenomics
OAK is a fixed supply ERC-20 token that is used in all transactions within the Acorn ecosystem, from crowdfunding, marketplace spending and external purchases via the Acorn payments gateway. Real utility means real demand for the token.
An integrated Acorn marketplace provides campaign services from Acorn and 3rd parties. Post-crowdfunded projects have immediate access to list their own service or project on the marketplace. Founders will have optional premium access to data about backer trends and past campaigns to make the right decisions about their campaign. This improves success rates in the campaign and post-crowdfunding delivery stage.
Attractive Tokenomics
OAK is a fixed supply ERC-20 token that is used in all transactions within the Acorn ecosystem, from crowdfunding, marketplace spending and external purchases via the Acorn payments gateway. Real utility means real demand for the token.
Early Incentives
The Project Incentive Fund, made up from a proportion of the ICO, provides generous and early incentives for backers and founders to join Acorn and adopt the OAK token. By rewarding projects to join our platform, we promote the rapid growth of the Acorn platform, as each crowdfunding campaign in turn recruits new users into our ecosystem. 300+ projects are already registered.
The Project Incentive Fund, made up from a proportion of the ICO, provides generous and early incentives for backers and founders to join Acorn and adopt the OAK token. By rewarding projects to join our platform, we promote the rapid growth of the Acorn platform, as each crowdfunding campaign in turn recruits new users into our ecosystem. 300+ projects are already registered.
Team:
Very solid, competent core team and a great advisory board with diverse backgrounds. Once again you get to see how great this site works, they all a bio section and ALL the team have up to date linkedIn accounts. You can click on the LinkedIn company profile and see all the team members. : https://www.linkedin.com/company/acorncollective/ They currently have 36 employees linked to it.
It’s great to see this level of transparency, some other ICO’s could take note of this.
Dropped a 1/2 point basically because of the lack of experience of the CEO. It’s a huge leap from working in a hospital to heading a multi million, multi national company. This is by no means a slant on the CEO, but lack of experience, is still lack of experience.
Rating: 4.5/5
Social media presence and hype is strong, they have over 58k members in there Telegram group, their Reddit page, has 1600 followers and there Twitter has 54k followers! Thats impressive.
Pros & Cons:
-Awesome website,
-Good idea, but not totally unique.
-Great team & advisors
-300+ projects already waiting to get involved
-Roadmap could be more detailed. Vague moving forward after the ICO and into next year.
Conclusion:
I think this project has great potential, 300 plus projects are waiting to get involved, the fact the token is a utility token, that can be used in their ecosystem, that is limited in supply, should increase its value. It will be exciting to see progress in the development side soon with the anticipated MVP.
So one thing I was curious about, was who will the ethics panel and approval panel be? So we can see from their technical paper, that all moderators of projects will be Acorn employees, and projects that have questionable ethics, will go to an ethics committee. Should the decision still be uncertain, the approval will be put forward to a community vote. Active users, such as those who log in regularly and have participated in OAK transactions on the platforms before, can then come to a collective conclusion on whether a project may proceed. I think that’s a very interesting way to assess things and good for the community as a whole.
Over all I think this project very solid project that has good chance of success, it earns a final score of 3.9/5
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