THE ICO ERA | MOVING FORWARD
Our dear BGX Community!
It’s truly been awhile since we last reached out to you through Medium. Some of you participated in our pre-ICO registration. Some of you followed our news, about new partners, new directions. But even if you haven’t — that’s alright, because this post is the one about unveiling something big. A fundamental turn in our strategy.
NO MORE ICO
Many of us in the industry realized the futility of the ICO as both a fundraising tool and as a tool of attracting a loyal community.
For many of the large projects, their social networks — Telegram followers, Twitter followers, Bitcointalk discussions are expenditures in painting a nice, but unrealistic picture of a 50k-strong community. Yet rarely even 10% of these followers know more about the project, than the occasional repost they do for a small number of tokens.
Google and Facebook are clamping down on the ability to advertise on their platforms. Even beforehand, the ICO industry was being crippled by the large number of bots eating out of the marketing budget.
Therefore, it soon became apparent that the ICO is no longer an opportunity to attract an early community, but rather a tool for parasitic companies to pump out money out of a project.
As a result of that, many of the projects are turning towards the so-called “private ICOs”, essentially venture rounds for tokens.
The pre-ICO registration was truly a remarkable success for BGX. We have allocated 22,567,128 BGX tokens! We want to thank all of our supporters. But moving forward, without a legitimate infrastructure to reach new supporters of our idea, we have decided to change the strategy and to do away with the ICO.
THE PROJECT STILL CONTINUES
BGX is being renewed and refreshed. Newly invested funds and an opportunity to secure some truly amazing partnerships, as well as the advancements in our development, have opened new doors for BGX.
This deserves its own post — so watch out for a new publication within a day, detailing our new strategy and road map.
WHAT NOW
- We are fully refunding all of the contributions that were made throughout the pre-ICO process
- The BGX Tokens (for gaming) are being retired. Our idea has grown and the platform will require new methods for interaction with businesses, investors and individuals. A better-suited DEC token will be emitted (stay tuned).
- Those that supported us by sharing our news, posting about us, and spreading the word — will receive the bounty in the new and advanced DEC tokens, tradeable on exchange.
- Everyone who took part in the pre-ICO will receive the new DEC tokens for free, as soon as they will become available — as a thank you for your support
- We will enable the possibility to purchase DEC directly through Ethereum wallets
- We are going to be on an exchange this fall — pay attention to additional notifications
We are not abandoning the project. On the contrary, we’re growing and flourishing. Thank you for staying with us throughout this journey. We have much in store for you in the months to come.
