AskFM, well renowned as a platform where millennials and younger tech savvy people go to ask and get answers to questions, is rumored to be looking at launching an ICO. With over 200 million users, AskFM could break out quite well if the rumors are true and their fundraising succeeds through this new method.
ICOs have become very popular tools for small startups and companies to not only open a Blockchain business and be part of this new wave of technology, but also to raise funds for the business in a way that has never been seen before; the VC model for startups is dead.
More so, ICOs allow for major companies, such as AskFM, to get funding from the global community, as well as enter the prestigious Blockchain space. And it has been done already with some major companies.
Eastman Kodak Company (KODK) and Telegram leading the way
Two major companies have broken the ranks and joined all these smaller ICOs that litter the Blockchain space by launching their own, successful ICOs. Telegram in fact is being regarded as the most successful ICO with its first round netting $850 million.
Telegram, as a instant messaging company, with similarities to Social Media platforms, seems to have gotten much off its success due to the fact that it is a powerful tool for many people. And because ICOs are a form of crowdfunding, there is a lot of overlap between those who use Telegram, are interested in ICOs, and operate in a tech savvy space.
The fact that Telegram was able to raise so much money off its ICO means that its Blockchain product will be well funded and it will also be aimed and directed at its clients which can see the value in being in the Blockchain space.
It is a similar, but different, situation for Eastman Kodak Company (NYSE:KODK). The photography company is launching its ICO soon, after grabbing a lot of attention, and turning a few heads when they decide to go down this route.
Eastman Kodak Company is a well established company with no real ties to the ICO market or Blockchain in general, yet they have identified how beneficial it can be for a company to evolve and move with the times when it comes to Blockchain technology.
AskFM taking the dip
While there has been nothing made official yet, there are strong rumours going around that AskFM are making this move. A look across their website shows splashes of something called “AskFM 2.0” clearly indicating some sort of major upgrade. They have also given it away a bit as there are vacancies at the company for Blockchain developers.
Starbucks also have similar rumours floating around them as Executive Chairman Howard Schultz raised a few eyebrows when he brought up cryptocurrency during a conference call discussing the company’s latest quarterly earnings. The former CEO told listeners he believes that widely-accepted digital currencies will arrive within the next few years.
First to market
Of course ICOs are perfect for start ups, but the fact that Telegram, Kodak, and perhaps even Starbucks Corporation (NASDAQ:SBUX) and AskFM, are wanting to get involved in this open-to-all from of investment could show a new trend developing.
There has been much praise for Blockchain technology from thought leaders and businesses, even if they are anti cryptocurrency. But many companies are seeing an in to build a Blockchain division to an already established business, and it fund it at the same time