What Happened to My ICO? Spotlight on IndaHash
Remember back in December, quite possibly the pinnacle of the ICO frenzy? The fourth quarter 2017 and a hyper-bullish Bitcoin created an exciting time to invest in ICOs and thousands of new enthusiasts joined the market. But how did they do with their ICO investments? Let’s take a look the indaHash ICO which ended in December and see how the start up and their token is holding up.
Who is IndaHash and How Did Their ICO Score So High?
The indaHash ICO was one of the many projects reviewed by TruDex in 4th quarter 2017. Their project is a social media influencer and marketing app that brings together social content creators and brands for their mutual benefit.
This start up is the highest scoring ICO in our database to this date. Within our comprehensive review, the categories showing the highest scores for indaHash were as follows:
Problem & Solution: 100%
- The problem and solution are not only clearly defined, but they’re also operational and can be tested and verified by downloading the Android/iPhone app. This was remarkable during the early stages of the ICO revolution. The Majority of ICOs during that timeframe had no working product whatsoever.
- The company developed a social media marketing application that now services over 330,000 influencers with a reach of over 900,000,000 people. The international platform enables a connection between local and global campaigns.
- IndaHash continues to attract wide media attention. Around the time of their ICO, many crypto YouTubers were featuring the project as a ‘hot ICO.’ Not only that, indaHash received a truly rare (for this stage in the ICO industry) nod from mainstream media in a CNBC write-up, as well as being mentioned in industry-specific media outlets including ICODrops and Coinspeaker.com.
- The startup’s motive is well established with the goal in mind to tokenize the influencer marketing industry by replacing the traditional cash-fiat money-based reward and compensation system with tokenization.
ICO Details: 100%
- IndaHash is among the few ICO startups that showed restraint when it came to raising capital via an ICO event. Additionally, no tokens were allocated to team members; instead, they offered the option to take part in a buy-back program.
- Unlike most ICOs in this era, indaHash set up an escrow process to protect investors and their ICO was transparent in all areas.
To read more about this project’s scores, you can check out our full report on the indaHash ICO.
So Where Is IndaHash Now?
Their social media following continues to grow, with over 10k on twitter and 17k on two telegram channels. The project raised $42 million and their website is offering numerous job opportunities, signaling healthy growth. IndaHash recently expanded their service area to Mexico and they now have a Spanish version of the app available.
While as a business, indaHash seem to be making strides, whatever happened to their token?
What’s Their MarketCap?
At this writing, the IDH token’s marketcap was $33,977,680. The IDH token, in 223rd place in Coinranking.com, currently is valued at .0781, a decrease of 67% since their ICO. Bitcoin also fell considerably during this time, by 45% and many established altcoins show similar declines.
Followers seem to be staying supportive and hodling from what we see in Telegram chats. Meanwhile, indaHash continues to improve on their service, with an increase of 30,000 influencers signed up since the ICO. Their ability to solve a problem and market it is evident and we look forward to watching as they continue to make their mark on the decentralized advertising industry. Check out their upcoming AMA on Reddit to learn more about this project.
Not every ICO fared so well in 2017. Some completely disappeared. Others are floundering, and yet more are feeling the pressure and the weight of millions of dollars raised and investors waiting for their return. Join us next Friday as we take another look and see how projects are performing post-ICO.