Crowdholding’s Pre-Sale — A Case Study
Crowdholding is a co-creation platform startup that is registered in the UK. We are aiming to allow both startups and the crowd to mutual prosper through co-creation and blockchain technology.
On Sunday the 17th of September, Crowdholding concluded their pre-sale ICO, after 32 days, Crowdholding raised 514 Ethereum tokens, decimating our target of 200. We would firstly like to thank everyone who helped us achieve this target.
This article will be a case study on how we went about implementing our pre-sale and what we have learnt to improve on for our ICO, which will launch on the 1st of November.
Crowdholding was first conceived back in January 2016 between the three co-founders of the startup, from then on the startup has grown its product and size of its team. A working Beta was created back March 2017 and we have over 1200 users on the platform. Crowdholding moved towards a Initial coin offering as it was an opportunity to show the power of the crowd, receive feedback to improve user experience and keep control of our concept.
Our ICO starts on the 1st of November where 44% of the 631 million tokens will be on sale to the public, during the pre-sale 0.8% of all the tokens created were available for purchase. We set a goal of raising 200 Ethereum, and we were more than successful as we managed to raise over 500 in that period. The breakdown of the other token percentages can be found in the white paper here.
Reason for our success
There are a few reasons for our success during the pre-sale that will be implemented during the ICO.
- Strong organic marketing — Most of our marketing power was not spent on ads or paying for articles, but rather through content marketing, growth hacking and connecting with people who would be interested in our ideology. We made sure that we had all forms of communication. Social media channels and we were constantly pushing out new content.
- Strong customer service — We made sure that any curious visitor to the website were greeted with someone from Crowdholding. If they had any doubts, questions or comments we were there to receive them and to reply back. This grows a strong relationship, and shows that we are here to advise and help.
- Use of Bounties — We made sure to use the public who would be interested in our concept / cryptocurrencies. Crowdholding used our own platform to structure bounties. Once this was created, the general public started to share and post to increase the visibility of Crowdholding.
- Improve through feedback — During the whole pre-sale we were constantly improving our website, whitepaper and presentations from feedback from the crowd. We cannot have an ideology praising the power of the crowd, if we do not utilize it as well. We value the crowd’s power so much we had bounty systems for feedback on our website and our whitepaper.
- Tracking what was successful and what wasn’t — ICO’s are still a new concept in investment and with any new investment idea, it can be difficult to market. We consistently looked at what channels worked and what channels were not as effective, which channels need more focus and which channels are growing so much, that they are sustaining themselves.
What we learnt
There were also some concepts we learnt and will add to make our ICO more successful:
- ICO’s are a global phenomenon and although China has recently banned ICO’s there is still a lot of different nations who are interested in ICO’s. We were a little late in getting translations and we will have more translations when the ICO comes around with research to back those markets.
- Connecting / networking — Because we were so focused on marketing and making sure we are connecting with people who visited our website, we didn’t have too many chances to get our ideology into events and network with cryptocurrency / blockchain enthusiasts face to face. We are now focusing on growing our team and networking so when it comes around to the 1st of November we will have a wider network to connect.
We cannot wait for our ICO on the 1st of November, if you want to read more about our pre-sale and our concept, click here to read more.
CrowdholdingCrowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.
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Reward Distribution Rules.
Please read below how the rewarding structure works.
Voters get 35% of the reward
Commenters still receive the majority of 65% of the reward weight, while voters 35%.
You receive only 7 upvotes and must vote what you think are the best answers
You now have a limited amount of upvotes. You won’t see the other user votes until the task expires. If you vote the top half comments you will receive a portion of the 35%.
Top 50% upvoted comments get bigger share
Our algorithm gives top 50% upvoted comments more rewards than the bottom 50% comments.
Give me an example with numbers
Upvoters get 35 % of the reward.
65 % goes to the commentors.
Half of the reward is gained from bottom 1/2.
Upvoters get nothing
1/2 of the reward pool for this segmentis distributed among top 1/2
There is a task with 1000 Reward.
Let’s assume Top 1/2 recevies 70% of all upvotes.
Bottom gets 30 %. But because half of the reward goes to Top 1/2 that makes the final numbers more like Top 1/2 gets 85% (55.25% for commentors, 29,75% for upvoters) and bottom gets 15 % of the final reward.
If there’s 100 upvotes:
1 upvote that upvotes a comment in Top is worth around 12 Yups (circa 8 goes to commentor, 4 goes to upvoter)
1 upvote that upvotes a comment in Bottom is worth 5 (All goes to commentor).
Reminder about our Moderation
If you upvote a comment that’s reported as Spam or comment that should not be rewarded (eg. “Good job” comments) you will lose your right to be rewarded for this task.
We hope you like this new system and it brings you lots of fruitful discussions and reward you fairly.
Do you still have questions? Read more detailed explanation at our helpdesk
All the best,
Your Crowdholding Team