There are a number of ICO’s queued, but few are using the ICO to accomplish as much as Civic.
What the Civic team did that was smart:
- Set a reasonable fundraising target with a cap, thus encouraging strong interest from a wider group of investors than just the usual insiders
- Used a queue to not overload their servers or the Ethereum network, thus avoiding the Status problem of massive network congestion
- Used a queue with low limits, thus democratizing access to the ICO and getting the most people possible as advocates for the brand
- But most importantly — required use of the product (identity verification) to be considered for the ICO.
What that means — Civic now has ~25,000 highly engaged users. They’ve gone through identity verification, downloaded the app and are “advocates” because they own some of the civic Token. My guess is most of those users are also highly active in the blockchain ecosystem and as a result they are already asking other blockchain service providers “why they don’t use Civic”… I know I am
This is one of the magical elements of this emerging Crypto space. Customers who don’t just become advocates, they become evangelists who have an incentive to help the company win. In the long term — broad ICO customers bases build this evangelist base and give companies an advantage vs those who narrowly sell their ICO to insiders and large traders. A good lesson for the upcoming ICO’s to consider