Interview with Raúl López co-founder of ICOVend.
What challenge is ICOVEND addressing?
We make investing in ICOs simple.
ICOs have the following characteristics and we simplify this process:
- Token sale transactions are complex
- It is easy to make mistakes.
- There are many scam ICOs
Does ICOVENd also assist users in selling their tokens?
We plan to implement this feature in the near future,
What is the scale of this challenge?
Since the beginning, it has been a very attractive challenge for all the team. Simplify the process to buy tokens and at the same time make it possible in a secure environment against phishing and scam’s ICO it supposes a great challenge.
On the other hand, manage all existing information about the projects it requires a big effort
to the user can find the ICO that he can consider more interesting. For this reason, we have also created an advanced search filter to provide more accurate results.
And not only that, but also that each user can have centralized all the purchases of tokens that have made and also can see their market evolution in relation to the initial purchase price.
How does ICOVEND turn this challenge into an opportunity?
More and more people begin to discover the ICOs as a new crowdfunding system with cryptocurrencies. On the other hand, it is estimated that by the autumn of this year every week it will be published 200 ICOs. This means that each time there will be more ICOS and more people interested in participating in them.
After we have done much research we have observed that many of these people have difficulties in buying tokens, due to the complex purchase process, due to lack of technical knowledge or even excessive amount of information about ICOs.
This platform aims to be a “bridge”, make easy the participation in the ICOs and more people can access to them and not stay out.
Can you showcase some team members/advisors which have a strong background? What is their connection with this particular project?
The Icovend team is made up of Raúl López (CEO & co-founder), Héctor Linares (CTO & co-founder) and Artemiy Boronenkov (full stack developer). We have been working together on different projects for many years. In particular, Héctor and I created a company, a web and communication agency three years ago. During this period of time we got experience managing projects, and as we always wanted to create a startup then we decided to launch our own project. We applied to Booster accelerator with Icovend and we were selected.
In 2012 we found out blockchain world thanks to bitcoin. It was when we were working at Alicante University in a research program. The project director introduced us in this sector and we have built our own test “laboratory” in order to understand better the technology behind blockchain.
The advisor’s list is growing and now we count with Javier Martin (Singular Ventures director, co-organizer of Blockchain Day1, Logic founder, etc.), Nicola Lampis (MBA and financial advisor) and Victor Donet (Growth Hacking and marketing online expert).
What are the selection criteria for the ICOs chosen?
The ICOs that can be found at ICOVend has passed a rigorous control. The selection isn’t only based if the team members are famous or not, because we want all projects to have the same visibility and opportunities.
Our teams make an active search for the most important team members. It is checked that they have publicly informed that they are participating in it. Also, we read the Whitepaper in order to understand the idea and the real utility of the tokens so we can be sure if all the project as a whole has the sense or not.
On the other hand, we check that all reviewed information comes from real and official sources. We do it because one of our main objectives it to avoid false and manipulated data.
And finally, in order to be more neutral and transparent with all the information, we have recently added third-party ratings that we have carefully selected.
What is the difference in price between the official ICO price and the ICOVEND price?
Currently, the is no difference in price between the official ICO and ICOVend. We don’t discard that later it could be some costs to cover some services offered on the platform so it can be kept active.
Do you take bounties/commissions from any of the ICOS?
Right now ICOVend receives neither bounties nor commissions of any ICO.
Could you list some of the profitable ICOs ICOVend has invested in?
Icovend doesn’t invest in ICOs, the platform shows info about ICOs and the users can buy tokens of each project. However, people of our team have invested in District0x, Stox, IPFS, etc. And also we have bought cryptos like Bitcoin, Ethereum, Monero, etc.
What is your view on the future of ICOS?
I think each day more ICOs will be launched and before the end of the year, it could be created between 150-200 per week. But at some point in 2018 ICOs would collect fewer funds because the market will be saturated. However, if the leader’s projects are aware of that then they must develop a real and powerful business model and create tokens with a real utility in order to avoid these difficulties.
For more information please visit: https://www.icovend.com/
We thank Raúl López for the interview.