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
– 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
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.
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 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.
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.
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.
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.
Over all I think this project very solid project that has good chance of success, it earns a final score of 3.9/5