Vince Mundy CEO BrightCOIN @ Echelon Asia Summit 2018
BrightCOIN CEO Vince Mundy on a panel discussion at Echelon Asia Summit 2018 talking about the current state of ICOs. The video starts off in the middle.
The summary: lots, lots of work. Sleepless night, lots of moving parts.
Capital required: lots of capital. I would say that it takes a minimum of $50-$100k to do a successful ICO/STO. Of course, that’s a low-end number….many projects come in with $250k-$500k budgets.
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BlockTribune did a great piece on us and our CEO, Vince Mundy. Vince elaborates on the need to thoroughly vet ICO founders in order to deter scam artists. Read the full interview
What is BrightCOIN?
The BrightCOIN platform allows you to launch and and create a token offering for zero upfront fees. On BrightCOIN, you will be able to launch your STO/ICO in just a few minutes without any coding.
How Does BrightCOIN Work?
In the first step, you will be able to create a token and set up the ICO/STO. To create the coin, you will only need to utilize the simple coin-creation wizard. With the wizard, you will be able to customize any element of the coin such as the price, symbol, and the name. Next, you will be able to set up the ICO/STO campaign. Read the full review [...]
What does BrightCOIN do?
BrightCOIN is a platform for launching token offering… in minutes and for Zero upfront fee!
BrightCOIN enables visionaries to create a coin, launch an ICO/STO and get crowdfunded in an easy and compliant manner. In doing so, BrightCOIN strives to set the gold standard of SEC compliance and the legitimization of ICOs/STOs.
Essentially, we’re a crowdfunding platform, a Kickstarter, for ICOs/STOs. We do this by:
- Enabling entrepreneurs to easily create a coin and launch their ICO/STO for ZERO upfront fees and without any coding, while being compliant with the security laws of multiple countries.
- We provide the comfort of raising money without having to worry about contributor compliance. We manage the KYC and AML processes and all other due intelligence including accredited investor verification.
- There is no upfront fee to launch a token offering on the BrightCOIN platform.
- There is no coding required to launch your token offering on BrightCOIN
In addition to the BrightCOIN product itself, we’ll make our compliance and investor verification services available on the blockchain. Digital identifications will be created for each investor, thus enabling anyone to whitelist investors. Hundreds of ICOs/STOs and new exchanges are launching every month. With this blockchain, investors won’t need to keep giving their information over and over again to different sites. Once we issue the investor an ID, we’ll provide the information to anyone who obtains that investor’s permission. [...]
In this article I’ll go over why we created BrightCOIN and our reasoning as to why we charge ZERO upfront fees.
An old friend of mine has a small startup that focuses on the world of fine art. He needed to raise a small amount of seed capital but didn’t have strong investor connections. He’d heard about Token Offerings and how it seemed that they were popping up everywhere and raising huge sums of money. So he figured that may be a solution to his money problem. He contacted a few of the many ICO consulting firms out there and learned that it isn’t that easy, and is very expensive. He discovered that these firms typically charge anywhere from $300,000 – $500,000 in upfront fees plus a sizable percentage of the number of funds raised. On top of that, there is a myriad of compliance issues that would cost even more to sort through. Obviously, this blew him away, because the costs would be more than what he needed to raise! [...]