The rapid spread of blockchain over the last few years has created a huge and diverse community that spans the width and breadth of the world.
Confidence in cryptocurrencies among the general population still has some way to go before the whole thing becomes as familiar as bank notes, but as cryptocurrencies gain a stronger foothold and more and more people become cryptobelievers, the blockchain grows a little bigger.
It is in this climate of blockchain community spirit that Vestarin joins the ICO race, offering this growing community a way to expand and access services, projects, create a team for a specific purpose, and much more.
https://youtu.be/Rg11qNH7jbY
This piece is an analysis of the facts available about the Vestarin ICO. It should not be read as offering advice or a recommendation. While ICOs have quickly become a popular tool for funding projects and start-ups, they can also be very high-risk for token purchasers.
Additionally, ICOs currently have an unclear legal and financial status. Token buyers may find that their purchase does not offer them any security or equity because the ICO is closer to a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.
Vestarin: Fostering the community spirit across the blockchain
https://www.youtube.com/watch?v=uK3CmNc5tUQ
Vestarin intends to develop a platform based on the Ethereum blockchain, where users can perform a variety of tasks and access a wide range of services, including project creation, pay for goods and entertainment, integrate a cryptocurrency exchange, and much more.
The whole idea of Vestarin’s value proposition is to raise a whole new community spirit across platform users, and attract investors through verifiable accounts of reputation among community members.
Vestarin in figures & quick facts
https://twitter.com/vestarin/status/950448655236042752
- Token Name – Vestarin token (VST)
- Total tokens issued – 200,000,000
- Pre-ICO Start Date – January 30, 2018
- Pre-ICO End Date – February 28, 2018
- ICO Start Date – March 5, 2018
- ICO End Date – April 4, 2018
- Hard cap – 100,000 ETH
All unsold tokens at the end of the ICO will be destroyed.
The Vestarin token
As with any other ICO, the company will issue its own currency, the Vestarin token (VST)
Once created, the VST token will be distributed as follows:
- Pre-ICO – 7%
- ICO – 75%
- Founders – 13%
- PR, Bounty, and Advisors – 5%
The team
Vestarin’s website presents a core team of nine people, plus three advisors
The team is rather lean, but this is a good thing for a start-up ICO, as it reduces overheads and keeps maintain focus.
Expertise includes software, legal, art, supported by blockchain and ICO experts. All team members bar two feature a link to their LinkedIn profile.
All told, it is a well balanced team.
Social Media presence and digital footprint
https://twitter.com/vestarin/status/929109809282125827
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 Vestarin at the time of writing (mid-January 2018).
- Twitter – 351 followers
- Facebook – 301 followers
- Medium – 5 followers
- LinkedIn – n/a
- Telegram – 151 followers
- Instagram – 56 followers
Vestarin’s current presence across Social Media is practically negligible. This is in no way a sign of failure, as it appears that it’s early days for Vestarin and its professional venture. It simply means that the team does have a lot of ground to cover to reach even acceptable Social Media coverage.
This issue is particularly relevant to Vestarin, as its main focus is on building and developing a community. Community begins on Social Media nowadays.
Overall, Vestarin’s presence on social media networks ranks as ‘Poor’.
Competition
https://twitter.com/vestarin/status/931248453124050944
The concept of community building across the blockchain is a rather popular one among ICOs, which means that there are plenty other entities vying for a slice of the cryptopie.
Opporty, startAround, and Worldwide Asset Exchange offer similar, or comparable solutions to Vestarin’s.
This fact means that late comers into the playing field will face higher odds to succeed.
Website quality & layout
An ICO’s website is the first port of call for any potential investors, and if the site isn’t appealing enough, they will move on and forget about your proposition, no matter how good or viable it may be. It is therefore imperative to design a good website, to make a strong and lasting first impression.
Vestarin’s website is neat and well presented, with consistent fonts and a nice color scheme.
The wording used is slightly odd at times, however, which betrays a non-English native origin. This is a common issue across many ICOs, one that proofreading services could very easily stamp out.
Apart from that, the website is very well done, featuring all the usual links for an ICO (Whitepaper, ICO, token, etc.) All links work, and the site is pleasant and easy to use.
As a side note, the site is offered in several languages, including Spanish and, oddly, Korean. Some of the links stop working when displaying the site in a language rather than English, however.
Overall, Vestarin’s website ranks as ‘Good’.
Whitepaper
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.
Vestarin’s Whitepaper comes in on the short side, fielding just 25 pages.
Much like the website, the paper is rather neat. It uses a consistent color scheme and a nice header & footer combination.
And also much like the website, the grammar is slightly off across much of it, which may put off a number of investors.
The issue of bad or odd grammar is rather ubiquitous across ICOs, actually, and it’s something that a proofreader can resolve very quickly.
In any case, the paper does present all the necessary information to understand the ICO, in a neat and elegant way.
Overall, Vestarin’s Whitepaper ranks as ‘Acceptable’.
Conclusion
https://twitter.com/vestarin/status/949793023436652544
Establishing, building, developing, and nurturing a community on the blockchain is no easy feat. It requires a lot of work, dedication, and reach.
Vestarin’s main challenge here is its rather poor presence on Social Media, which is certain to hinder its efforts to progress beyond local borders.
The future of this ICO depends on how well and how quickly it can become a reckonable entity on Social Media. By enhancing its global reach, Vestarin will entice more people to join its venture.
