[Update1: At the press time, KICKICO has raised 1100 ETH against their target of 2000 ETH.]
KICKICO, a new Ethereum-based platform for crowdfunding and Initial Coin Offerings, is allowing individuals to participate in their ICO at a heavily discounted rate of 6,000 KC per ETH (instead of 3,000 KC during the ICO).
Anti Danilevski, Founder CEO of KICKICO, has been a leader in the Russian crowdfunding community since 2011. He has found that first-generation crowdfunding platforms like Kickstarter cost campaign creators so much that their campaigns are often not worth their while. At the same time, backers have no protection from creators who do not keep their commitments. Danilevski estimates that 80-90% of projects fail to deliver their projects.
Three years ago, Danilevski predicted on his Facebook group that the current crowdfunding model would be replaced by a more efficient platform. Seeing the enabling power of Ethereum, he decided to take matters into his own hands and has been working behind the scenes on KICKICO, which is announcing its preICO today.
Other crowdfunding platforms that charge anywhere from 15–40% commission fee for listing, KICKICO charges a flat 4%. Backers are also insured in the form of a custom Ethereum-based token, KickCoin (KC), and can use smart contracts to offer equity in the crowdfunded project to backers, something that was not possible on crowdfunding 1.0 platforms.
KICKICO, currently preparing for their public launch in September, aims to bring crowdfunding to regions of the world that legacy legal and payment-processing systems did not reach.
KICKICO is offering investors the chance to acquire KickCoins in the preICO, at the rate of 6000 KC per ETH. (Once the ICO launches on August 29th, the price of KickCoins will double to 3000 KC per ETH.) KICKICO hopes to raise 2000 ETH in their preICO launch, with a maximum of 5000 ETH. Since these coins are not mined, the pricing is not expected to inflate.
The first ten investors to contribute 10 ETH or more will be entered into a raffle to win free KickCoins, with prizes as high as 300,000 KC (about 50 ETH)! More details about this exciting opportunity can be found on KICKICO’s preICO page.
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