Apparently this ICO is backed by an established company with important customers, as read in their whitepaper:
"Gravity4, Inc., through its subsidiary LydianCoin SG and its cryptocurrency, LydianCoin (LDN), will provide
crypto- and blockchain ventures with digital marketing services that Gravity4 and LydianCoin SG believe are state
of the art and are already used by several Fortune 1000 companies and luxury brands worldwide."
However I could not check if this is the case.
They pretend to issue 200.000.000 tokens with an estimate value of USD 100 million.
And so, which is the business of Lydian? They sell marketing services. You would probably ask why you need a token for selling these services. This is not explained in the whitepaper.
But the most interesting part is the use of proceeds:
"4.6 Use of Token Sale Proceeds
100% of the proceeds raised by the sale of Lydian tokens will be held by LydianCoin SG (in fiat currency or
cryptocurrency, as financial, security, and other considerations may demand) as reserves against the cost of services
to be performed for Lydian token holders upon negotiation of the token back to LydianCoin SG"
It means that you buy tokens now to be able to obtain marketing services in the future. And the company will keep these funds to be able to provide the services in the future. There is no other use for the token.
Who would buy services in advance, without having been delivered? Not me for sure.
Apart form that, there is a serious problem with the founder of Gravity4, according to this information from techcrunhc:
https://techcrunch.com/2016/07/28/gurbaksh-chahal-out-as-gravity4-ceo/
