One of the most controversial aspects of the cryptocurrency industry is the prevalence of Initial Coin Offerings (commonly referred to as ICOs) — specifically their questionable feasibilities and integrities. Initial Coin Offerings are unregulated ways for cryptocurrencies to raise funds. In these ICOs, coins are sold to investors for capital. Investors judge the viability of the cryptocurrency by researching the technology’s whitepaper, website, and any other information available and buy coins, hoping that the value of the coin will rise dramatically after launch.
ICOs are notoriously risky, but all investors know that with high risk comes potentially high reward. The most contentious ICOs are those which have been conducted under false pretenses. Many greedy individuals have thrown great deals of money at ICOs without fully understanding the technology and feasibility of the cryptocurrencies, often leading to disappointment and lost money.
CryptoBnB’s ICO appears to be among the more promising ICOs for two key reasons. One reason is that the market makers — the individuals that will provide the properties for rent — will be involved in the cryptocurrency from Day One. Riskier ICOs hope that their market-makers will be attracted post-launch.
Perhaps more importantly, CryptoBnB’s business model is already proven. Services like AirBnB already exist and thrive, and they operate similarly to how CryptoBnB will. Unlike other cryptos in which the idea is somewhat “pie in the sky” with a lofty hope that the market will create itself, the market for short-term rentals is already robust.