Acorn Collective ICO details
Start Date: 2018-1-29
End date: 2018-2-19
- Site: Acorn Collective site
- Twitter: https://twitter.com/AcoCollective
- Facebook: https://www.facebook.com/TheAcornCollectiveICO/
- Github: https://github.com/TheAcornCollective
- Reddit: https://www.reddit.com/r/TheAcornCollective/
- Bitcointalk: https://bitcointalk.org/index.php?topic=2470481.0
- Medium: https://medium.com/@Acorn.Collective
- Telegram: https://t.me/joinchat/HI_eCBG0fCRCl1ja-d5JDg
The Acorn Collective wants to make crowdfunding free.
We’re building a blockchain-based crowdfunding platform that is free-to-use and allows almost any legal project from almost any country to be listed on our platform.
We want to promote social enterprise and democratize access to funding, as crowdfunding has already done successfully in developed countries.
However, this is much less the case in developing and emerging economies, which is something we wish to change.
Our ecosystem will comprise of
- a crowdfunding hub;
- a secondary marketplace to sell post-crowdfunding goods & services;
- a point-of-sale payments app;
- the Acorn token (“OAK”), facilitating the use of all transactions in our ecosystem and connecting backers, founders and consumers through a single token.
Traditional crowdfunding platforms are funded traditionally. Outside investors buy equity and expect a return from platform profits.
We aim to use an ICO for funding, meaning returns for token holders are no longer from equity or profit-sharing, but simply from growth of the ecosystem and OAK.
Our proposed funding model and the use of blockchain for transactions means we can offer crowdfunding for free.
In short – we’re changing the crowdfunding industry, by crowdfunding it.
Why Blockchain and Why an ICO?
We want to promote social enterprise globally by making crowdfunding free and more open.
Current fee models are typically 5% in platform fees and 3-5% in transaction fees. This is a drain on startups looking for funding and is an easy thing to fix.
Using blockchain for transactions means we can expect to all but eradicate transaction fees, with only minimal Ethereum network fees. These have been negligible in the past.
Funding via an ICO means we can aim to eradicate the 5% platform fees for crowdfunding.
If successful, an ICO would give us the resources to implement our Revenue Generation Mechanisms, which we intend to use to support this platform and keep it free to use.
We believe this is a huge competitive advantage. It doesn’t get cheaper than free and early incentives are available to rapidly accelerate growth (for details see our ProjectIncentive Fund).
Lastly, an ICO also means we would not need funding via outside investors.
Traditional crowdfunding platforms are themselves funded traditionally – funds come from outside equity shareholders who want returns through company profits. This makes them allocate resources only to where they can achieve the most earnings, charging fees and conceivably giving rise to more restrictive project approval criteria.
At Acorn, this is different – There is no obligation to generate platform profits for outside shareholders.
ICO participants and other token holders, including the company, are rewarded by growth of the OAK ecosystem.
We intend to achieve this growth by offering crowdfunding for free and a much less restrictive project approval policy.
Changing the Face of Crowdfunding
Acorn is building a blockchain based crowdfunding platform that’s the first to be free and open to any legal project in any country.
- Free Crowdfunding
ERC-20 token means tiny transaction fees (other platforms: typically 3-5%). ICO proceeds fund our Revenue Generation Mechanisms so we don’t need to charge any platform fees for crowdfunding (other platforms: typically 5%).
- All Legal Projects
We’ll allow legal and non-harmful projects, irregardless of category to crowdfund for free. Acorn works as well for community projects as it does for huge consumer products. We don’t shut you out because you’re a local business.
- Any Country
Crowdfunding is an outstanding success in developed countries. Emerging markets are all but shut out. We’re interested in an expansive ecosystem, so we’ll allow all non-sanctioned countries.
- Attractive Tokenomics
Fixed supply token, used for all transactions in our crowdfunding hub, our post-campaign marketplace, our support services and our point-of-sales payment app. Real utility means real demand.
- Early Incentives
We want to reward and encourage early adopters. A Project Incentive Fund provides generous incentives for people to use our platform. Our affiliate rewards provides commissions for successful recruitment of additional users.
- Validated Interest
We have a growing list of interested projects waiting to be listed. Accelerators and incubators in developed and emerging markets are partnering with us to provide crowdfunding to ventures and entrepreneurs in their networks.