Celer, nCent and Ankr ICOs: to watch or pass?
The purpose of this blog post is not to provide a review of the projects — there are enough of those online, this post is just to share my thoughts and opinion after taking a look and researching the projects, from a investors point of view.
It’s been a great week as far as progress in cryptocurrency is concerned. The markets have not been reflective what so ever yet we’ve had some great news from Intercontinental Exchange (ICE/NYSE) and Northern Trust. One thing is clear; the infrastructure for mainstream adoption of crypto is being built in this slow season.
This week I’ve taken a look at another 3 ICOs, Celer, nCent and Ankr and I wanted to share my thoughts on them with you, whether I’m passing or watching, so here we go:
Celer
The team is solid and has notable VC backers. The project, itself does aim to solve a valid problem, however I don’t see how this will compete with the current competition. It may be more advanced tech but would it have the X factor as RSK or Casper? For me, it won’t and doesn’t.
Not to mention the likes of Raiden not having performed well, even in the last bull run…maybe 4/5x max? Plus, a $30mln hardcap is a bit too heavy for me. It just feels like it will be an uphill battle to get a decent ROI on this, so for me it’s a pass.
nCent
I like what this project wants to do. It’s a simple idea, however I think they have really overcomplicated it in their marketing material. Whether they done this deliberately to emphasis value or they hired the wrong guys, it’s a bit of a hurdle. Nonetheless, the team behind this project is strong. Given the CEO’s experience and longevity in the crypto, it doesn’t look like a money grab at first glance.
The investors look solid, however my biggest concern is the adoption of this…do they have organisations waiting to use this? No whitepaper or token metrics available yet, nor any work to show. So overall there are a lot of questions and a lot of work to do. However, as this projects matures and they get the key elements in place, this could be one to watch. Given the current ICO market, I’ll watch this on exchanges — unless things change.
Ankr
Ankr has gained quite a bit of hype. There has been some very strong backing on this project from some high quality VCs, however for me I kind of feel like….’ok, another distributed/cloud computing project…’ *eye roll*. It does look like an ambitious project but from the looks of things, they are taking on AWS and Microsoft and for me — I don’t think the team overall are strong enough to get that done.
Technically, it looks like there’s some good ideas here but there are too many unknowns for me. No developers, companies publically committing to use the project when completed, a team with little to no track record in blockchain or in business and no plan documented on the roadmap past the testnet in 2018. Other than the strong backing there is no X factor for me in the project, so it’s a pass.
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Disclaimer: Any information in my blog posts are for educational purposes only and are not to be taken as financial advice. The views expressed are my opinion only. Please remember investing in cryptocurrencies is very risky and you can lose all your money. Please consult your own licensed financial advisor and operate within the laws of your country of residence. I may or may not have positions in the cryptocurrencies mentioned in my blog posts
