image credit: https://primalbase.com
So tomorrow morning primalbase (https://primalbase.com) is releasing their tokens to the wild. I've been researching ICO's for a few of weeks now and felt like I missed a couple of good opportunities, probably Civic (https://www.civic.com) and Status (https://status.im). I heard someone refer to this as the summer of ICO's and it sure feels like it.
So this afternoon I am doing my due diligence since I am considering investing in the Primalbase ICO.
I read the whitepaper and believe that I have a basic knowledge of the core business concept. It sounds like a solid business model based on the proven success of companies like WeWork (https://www.wework.com). WeWork's valuation is closing in on $20bn and is eyeing an IPO in the near future. That being said, just because one company is extremely successful in a certain market does not mean others will be as well.This article it may shed some light on the type of business Primalbase is shooting for - Behind WeWork’s Billion Dollar Valuation (RGU, BXP)
Symbol: PBT
Maximum number of tokens: 1,000
ICO offer: 1st day - 3 BTC for 1 PBT, 2nd day - 4 BTC for 1 PBT, 2nd to 7th day 5 BTC for 1 PBT
Sale Starts: June 26 at 12:00 noon (UTC)
Web site: https://primalbase.com/
How to participate in sale: sign up on the web site
There is a series of articles on medium in which Dmitry Faller (Chairman of the Board) answers questions about the ICO. I like what he has to say and agree with his views on the future of the company and ICO. In the first article he says that they are not raising more money than they need to run the business and that they capped the total tokens at 1,000. This is very much in line with the advice given by Fred Wilson in this blog post which should be read by anyone thinking of investing in ICO's.
After reading all 6 Q&A articles and spending some time searching on duckduckgo : ) I decided that I am willing to take a calculated chance on the Primalbase ICO. The business model is sound, they have proven that the concept works as the Amsterdam location is successful (seemingly). I will wake up early tomorrow and be ready to click that send button when the ICO opens.
I will write another post about the Primalbase ICO after its over. I think it would also be good to track the company / token progress in the future.
