In the technology world, a minimum viable product (MVP) is a product with just enough features to satisfy early customers, and a method by which to provide feedback for future product development. If you have been doing your research on the vast pool of new ICOs, you may have heard this term thrown around.
Oftentimes, while reading a company’s road map, you will see a goal for releasing a MVP. More often than not, however, this MVP goal will be somewhere way off in the future with several other goals that must be achieved prior to MVP release.
The reason for this pattern, is because the majority of new ICOs out there are nothing more than an idea in a visionary’s head. Although this visionary may have great intentions and be extremely intelligent, they have yet to produce anything that resembles a working product.
Investors flock to these projects with the promise of one day being able to see the product in action. Investor support has literally become a norm at the concept stage. Sometimes these ideas pan out after successful fundraising events, and sometimes they don’t.
Let’s compare the different development stages of all cryptocurrency projects. Take a look at a graph by ICO Rating.
The graph shows a distribution of projects staging an ICO by the development stage of their product as of Q2 2018. 57.43% of all new ICOs are still in the idea stage.
This is quite a concerning statistic considering the massive amount of money being raised in the crypto space. It suggests that investors are willing to spend their money on pure speculation.
Furthermore, compared to Q1, the number of projects that sought funding in the idea stage increased by 10.83%.
An investor should always do their research before investing. The existence of a MVP is an important indicator of the maturity of a project. The presence of an MVP allows investors to evaluate the product and see its potential use case in the real world.
The Gemstra team understands the importance of real product development. In my opinion, it has become more and more evident that there is an enormous over supply of projects in the concept stage. The world is ready for live utility and Gemstra is here to deliver.
What is Gemstra? According to ICObench, Gemstra is a blockchain-integrated ecosystem for the social selling economy. Gemstra BOUTIQUES is the flagship marketplace that connects Brands and Sellers in social selling. The success of BOUTIQUES led the Gemstra team to build ASTRA - a blockchain platform to serve as technology infrastructure for retail merchants to join the social selling economy. Gemstra will make the BOUTIQUES marketplace software open source and create the Gemstra SDK so any merchant (retailer) can easily add a social selling channel to their business.
Gemstra will be launching a public sale starting October 1st.
Gemstra will have Live Utility on December 1st. This means that the tokens purchased during the ICO will be spendable right away on the ASTRA platform (Gemstra’s MVP that will be fully functional in Q4).
For smart investors researching what ICOs to invest in, It may be wise to understand what stage in the development life cycle is the product in. For more information on Gemstra’s MVP, please request their whitepaper here: https://docsend.com/view/xvyqq7a
To register for Gemstra’s token sale, please visit www.gemstra.com.
