Important Announcement Regarding Storeplex ICO & Token Distribution
Last week, our Pre-ICO for Storeplex ended with the main ICO being scheduled to begin on Friday, August 3.
Unfortunately, our Pre-ICO did not go as well as we had hoped and resulted in us raising only a few ether, well short of our target and expectations. As a result, we have decided that it would be in the best interest of the project to postpone the Storeplex ICO until a future date.
There are several reasons for why we have made the decision to postpone the ICO. Firstly, we strongly believe that the negativity currently surrounding the cryptocurrency market as well as the current downtrend has resulted in a number of projects, including our own, finding it much more difficult to fundraiser than 6 months to a year ago.
Not only that, by postponing our ICO it will allow us extra time to work on making a number of changes to our project to make it more attractive to investors. This includes changes to our website to better demonstrate what Storeplex is and why investors should be interested.
We will also be using this additional time to look for and secure partnerships with other companies and merchants who will be added to the Storeplex marketplace.
Despite our unsuccessful initial attempts at fundraising, we still strongly believe in, and standby, our product. The Storeplex Marketplace is the first e-commerce marketplace to be working on the Ethereum blockchain. We’re proud of what we have built and we know there is a market for it. The success of other similar projects, despite them not releasing any working products on the blockchain, and the feedback we have received so far, only confirms this further.
We would like to thank everyone who has shown an interest in Storeplex, especially those who have believed in us enough to contribute to the Pre-ICO. Regardless of how big or small your contributions were, we’re grateful for every single one.
The postponement of the Storeplex ICO will also delay the distribution of PLEX tokens to users who participated in the airdrop and bounty programs. We have always stated that these tokens would be sent out after our ICO has ended. As this has been postponed, these tokens will no longer be sent out at the start of September, which had been our intentions based on our previous ICO dates.
While we appreciate this may disappoint some of you, this does make little difference long term as there would be no use for them on the Storeplex marketplace until it is fully developed, nor are there any exchanges to trade them on as of right now.
We will make an announcement as soon as we feel that we’re ready to launch the Storeplex ICO. We will use the time in between to work on improving Storeplex to give our ICO, and the future of the project, the best chance of succeeding possible.