Fundaria is a brand new ICO that intends to create an environment where inventors can get a supporting environment for their mindset, and also get funding through the blockchain to bring their ideas to life.
“No matter what people tell you, words and ideas can change the world.”
That actor is now sadly deceased, but this particular quote is relevant to this piece you are about to read.
Ideas drive human ingenuity, sparking progress and evolution. Take the wheel as an example. Diagrams and drawings show that mankind had long realized that round objects could be moved easier than those with irregular shapes. However, it would not be until about 3200BC than the conceptual idea of a wheel became a reality.
Inventing the wheel signified nothing less than a revolution, both for transport, commerce, and every day life. This particular idea indeed changed life for an entire civilization.
This piece is a full disclosure, a statement of facts without any intention of advice or endorsement about Fundaria’s value offer.
Fundaria: Fostering a creative environment on the blockchain
Ok, I added 100k fund to planning (business dev. page) for investing in business ideas during pre sales. We will buy ideas Stakes for 1 cent. #fundaria #ICO 22 of Nov. https://t.co/Pd8Gat04FY pic.twitter.com/ipice8XCPU
— Fundaria (@_fundaria) November 21, 2017
Ideas are powerful things. The bring about change and a sense of accomplishment for those behind them, and a nice financial reward too, sometimes.
But sometimes, the inventor, or the creator behind such endeavour, can be a lonely individual. This means that potentially viable ideas never see the light of day, either because the driver of such representation second-guesses himself, or because they simply become stuck in a particular stage or issue. The lack of access to a community of backers or supporters might sound the death knell for good ideas.
Fundaria’s proposition intends to make full use of the blockchain to establish an environment where a community can ascertain a given idea, see its potential, consider its viability and profitablity, and make an investment decision.
Fundaria’s Pre-sale is now ongoing until December 22, 2017. Investors can use Ethereum to participate.
Buying Fundaria RI Stakes now is a good idea. We have two great ideas hosted on Fundaria https://t.co/ZUCqU98MFF & https://t.co/NU2IIJGRZq , every of them will gain profit in the next half year & we will share this profit to Fundaria stakeholders. https://t.co/Pd8Gat04FY #ICO pic.twitter.com/gMrqtAszcg
— Fundaria (@_fundaria) November 29, 2017
The team
Fundaria’s website presents a team of five people, with quoted skills on programming, project management, system managements, and other, more abstract concepts like ‘coordination’ and ‘time management.’ None of the team members appear to have any previous expertise on blockchain technology, or entrepreneurship.
There is no mention of future expansion possibilities either. There are also no links to LinkedIn profiles.
Social Media presence and digital footprint
A strong presence on Social Media is usually a good indicator of a company’s popularity, though it is not the only factor that determines success.
Here’s the numbers for Fundaria, at the time of writing (December 2017).
- Facebook group – 823 members
- Twitter – 1,047 followers
- LinkedIn – n/a
Overall, Fundaria’s online presence is quite limited right now, though this is often the case with brand new ICOs.
Website quality & layout
Nowadays, the website is the very first port of call for any potential investors on a brand new ICO. The first impression is a lasting one, and if the website is not enticing enough, people will just move on.
Fundaria’s website is, quite frankly, a mess. It is a confusing mish-mash of images, and sections with different fonts, odd colours, and jarring animations. The whole thing looks incredibly dated, going back to the early days of pure HTML 1.0 internet.
The overall sense is of something that has been thrown together hoping for the best.
Whitepaper
Bunch of whitepapers on various languages. Even more soon! https://t.co/brHJStjhu3 #ICO 22 of Nov pic.twitter.com/ObGoWVNoyb
— Fundaria (@_fundaria) November 9, 2017
A well laid out, informative, comprehensive Whitepaper is a must for any ICO, if they are to be taken seriously. Documentation is sometimes treated as an afterthought, leaving many companies open to some criticism.
In the case at hand, Fundaria’s Whitepaper is a la par with its website. It is a drab, convoluted text-only mess, hastily written in very poor English. There are no graphics, schematics, diagrams, or anything else to break its monotony. There are also no headers, footers, or any structure to speak of.
There is also no information about its token name, valuation, or anything remotely practical about how tokens will be sold and distributed.
It may be understandable that the budget may just not be there to have a Whitepaper profesionally done, but this particular document is unlikely to raise any investor’s hopes.
Conclusion
Fundaria’s overall proposition may hold some core value, as community-driven evaluation of ideas can carve itself a niche on the increasingly crowded blockchain.
In this case, the entire concept hinges about earning reward by registering and sharing profiles across Facebook, expressing positive opinions about a given idea.
This ICO’s proposition unfortunately falls totally flat on many levels, and it is hard to see how it can ever achieve to change the world.
