A blockchain-based ICO review platform has raised a whopping $854,000 ahead of its scheduled crowdsale.
Revain, as the platform is titled, marks the start of a successful crowdfunding campaign. It should be noted that the aforementioned sum was raised during a pre-crowdsale round, that too within half an hour of going live. Revain already has its main crowdsale round scheduled to go live on August 21, and raising the intended soft cap now appears reachable. This has proved that Revain’s mission of introducing a legitimate feedback platform resonates with the community. And the platform has just started to impress.
Revain is certainly the ‘need of the hour’, especially in times when the internet is rioted with fake reviews. It is very simple for a customer/investor to make bad decisions based on biased/paid feedbacks. The current business models offer no methods to mitigate the risks of false reviews. It is also applicable for projects that are legitimate but are targeted unnecessarily by competition-paid trolls.
On the other hand, Revain leverages the goods of blockchain technology while making sure that the feedbacks the users leave are authentic.
“The authenticity,” explains Revain, “is achieved by KYC and the operation method where reviews fragments are processed both by machines and manually being saved into the blockchain. Therefore, there is a guarantee that those comments won’t be edited later.”
It is with the same logic Revain proposes to incentivize its users with a platform-token called RVN. Users who post only legitimate reviews get these tokens as a reward.
Perfect for Reviewing ICOs
It is evident that only a handful of ICOs in present times are legitimate and serious about delivering the promised product. The rest, however, are mere ideas with no legs to stand on. Investors, meanwhile, have no way of separating a good ICO from a bad one. And as long as the reviews remain manipulated by marketing-money, there is no transparency for investors as a whole.
In the beginning, Revain proposes to work with companies that have already completed their crowdfunding/ICO phase, as well as cryptocurrency exchanges. The platform is already undergoing alpha-testing, and its public alpha will be ready by the September 2017. Upon the successful implementation of the first phase, Revain expand its industrial portfolio to gaming, e-commerce, FMCG, and booking markets in the near-future.
To know more about Revain and its upcoming crowdsale, please visit here.