ICOVO Services Platform
|Description||ICOVO Services Platform|
|White Paper URL||https://icovo.co/whitepaper/20180620_icovo_wp_service_en.pdf|
|ICO Launch||September 24, 2018|
|ICO Closing||October 8, 2018|
|Coin Price||One OVO = £0.23|
|Funding Target||5,868 ETH|
|Funding Cap||60.360 ETH|
What is ICOVO?
ICOVO is an ICO services platform, to be released in Q1 of 2019. OVO tokens will allow users to invest in ICOVO ICOs when the mainnet is released. ICOVO will work to create ICOs of high quality and credibility.
ICOVO will also work to eliminate fraudulent ICOs, and to foster regulation-compliant ICOs, even across borders. Employing Vitalik Buterin’s DAICO (Decentralized Autonomous Initial Coin Offering), the ICOVO platform will release ICO funds to blockchain companies at specific achievement milestones, not all at once.
The ICO Concept
The ICOVO ICO will offer OVO tokens to investors starting September 24, 2018. OVO tokens will be used as currency for ICO investments performed using the ICOVO platform (released Q1 2019). An ERC20 token, new OVO tokens will be storable in any ERC20 token wallet prior to the release of ICOVO’s mainnet.
60% of OVO tokens will be released during the crowdsale. The ICOVO ICO aims to raise a minimum of 5,868 ETH. It will conclude on October 8, 2018, or whenever 60,360 ETH (the ICO’s hard cap) is raised. KYC (Know Your Customer) and Whitelisting are both necessary for would-be investors to take part.
Which Blockchain Will ICOVO Launch On?
OVO tokens will launch on the Ethereum blockchain. Ethereum is the largest ICO platform in the world and boasts a strong history of successful crowdfunding projects completed using its technology. Investors must buy Ether to exchange for new OVO tokens.
The ICOVO Team
ICOVO is led by CEO Akihiro Yamase, serial entrepreneur and venture capitalist. The rest of ICOVO’s team is made up of 12 corporate leaders, developers, and marketing “evangelists”. All team members have clear work histories in a variety of technology companies, within and without the blockchain industry.
The ICOVO Roadmap
Numerous ICO and technology milestones have already been completed, during Q1 and Q3 2018. The ICOVO Roadmap specifies future milestones from Q4 2018 through Q3 2019. These include launch and further iterations of ICOVO Web and App platforms. The company will also adapt its services to changing international regulations, especially in 2019.
Is ICOVO a Scam?
ICOVO does not appear to be a scam. The whitepaper is detailed, the team is convincing, and their fundraising and roadmap goals are entirely reasonable. It’s a future ICO platform planning to inject new credibility standards into international ICO fundraising. In this way, ICOVO is not only not a scam, it will work to prevent future ICO scams.
Strengths and Challenges of ICOVO
ICOVO must convince investors that a new ICO platform can succeed in a crowded market. Competitor blockchains like Ethereum and NEO already conduct hundreds of ICOs.
Nonetheless, ICOVO’s DAICO fund release mechanism may well insert new standards into modern ICOs. A fully realised platform would cut down on wanton ICO fraud and introduce important investor protections.
The Token Sale
A total of 120,000,000 OVO tokens will be distributed to whitelisted investors at the conclusion of the ICOVO ICO. Distribution will begin October 9, 2018, following the completion of the ICO, or at an earlier time if the ICO hard cap is reached.
How to Buy ICOVO Tokens
To buy ICOVO (OVO) tokens, you must first be whitelisted. Start by going to Icovo.co and clicking the “Whitelist” button on the homepage. You’ll be led to the following ICOVO ICO register screen.
Add your email address and unique password.
Click on the link in the email you receive to activate your ICOVO ICO registration.
Completion of the process includes a few steps.
Provide your Ethereum wallet address (must accept ERC20 tokens – Exodus wallet, etc.). Complete the KYC verification. Upon acceptance, you will be provided an address to which to send ETH in exchange for new OVO tokens. This concludes your ICOVO ICO registration. Complete payment as instructed. The OVO tokens will arrive in your Ethereum wallet following the ICO.
Should I Invest in the ICOVO ICO?
Only you can decide if the ICOVO ICO is a good investment for you. It’s important to note that ICOVO’s DAICE standard for ridding the market of ICO fraud is laudable. On the other hand, the company will be challenged to compete against established ICO platforms like Ethereum.
Using established investment platforms like eToro (see our in-depth eToro review) will give you access to more mature cryptocurrencies. Mature platforms like this already operate in compliance with international regulations, something ICOVO is just beginning to explore.
Similar Projects and Alternatives to ICOVO
We’ve covered a number of high-quality ICOs in recent days, such as Arround ICO and UBEX ICO. While both of these projects may rival ICOVO in terms of investor profit potential, we’re not aware of any recent or upcoming ICO that competes against ICOVO’s use case.
NEO coin is another cryptocurrency representing an ICO blockchain. NEO vets its own ICOs and requires applicants to buy NEO in fairly large quantities to prevent fraud, while ICOVO plans to use smart contracts to achieve the same goal. Ethereum employs no such standards, though this blockchain conducts more ICOs than any other.
It’s up to the investor to determine if ICOVO can compete among these (and other) industry conditions.