How Does Acorn Collective Work?
Acorn Collective is a crowdfunding project that uses blockchain technology to ensure that the projects are completed. It has an Acorn Marketplace that will act as a post-retail platform for services and goods that were funded by the Acorn Hub. As a result, founders and crowd funders can use this platform to easily invest in projects that are accepted by Acorn Collective’s network.
Here are a few aspects that Acorn Collective features:
- Collective Platform: Acorn Collective’s platform is completely free for users. For instance, you don’t have to pay transaction fees when sending/receiving within their system.
- Project Incentive Fund: The project incentive fund was made to reward early adopters, backers, founders, and token users within their ecosystem. This helps out their internal economy and help it grow rapidly.
- OAK Listing: OAK, is their native currency and allows users to fund projects. This allows contributors to have a valid exit strategy and bring new users into Acorn Collective’s ecosystem.
What Problem Does it Solve?
Crowdfunding is a system that allows new startups to obtain funding from a group of investors. However, it still suffers the same problems that most venture capitalist and incubator programs tend to face.
Statistically speaking, 78% of projects are unable to be completed fully. Most of these projects didn’t receive the capital needed to complete it. Because of this, the crowdfunding system is still having a few issues that need to be fixed in order for society to improve and grow.
Acorn Collective’s solution to the problem is to create a crowdfunding platform that’s available for users around the world. This means that startups from third-world countries can receive funding through their own native token. Here are some aspects that make Acorn Collective accessible for crypto users and investors.
- Website: View
- Whitepaper: Read
- Fundraising Goal: $500,000,000 (Softcap) – $35,000,000 (Hardcap)
- Total Token Supply: 90,000,000 AKO
Bounty0x username: jeremycole
Disclaimer: All of our information was made for educational purposes only. Invest in ICOs at your risk.
- Campaign Module: Acorn Collective has a SAAS campaign module. It has a suite of digital marketing APIs that have their own guides and tools to help founders in their raise. This helps founders pay less for advertising (traditional modules tend to cost 5,000-10,000 to work properly) and complete their crowdfunding campaigns.
- Enhanced Data: By combining marketplace services, backer interaction data, and marketing automation tools, Acorn Collective’s data system is more advanced than competing ICOs. They create the largest bank of crowdfunding data which helps monetized an anonymized data lake that helps drive success.
- Blockchain Transparency: Blockchain gives full transaction transparency, which results in an increased trust and a larger crowdsale for the founders. All of the transactions are completed via OAK, and the project spending can be tracked. This helps backers more likely to support campaigns that have more money behind them.
- Crowdfunding Issues: One that could come from this platform is its crowdfunding quality. Acorn Collective will have to filter out good projects from scams to ensure that their user base is investing correctly.
- Missing Code Repository: The ICO lacks a Github code repository. This can make some investors skeptical and might shy away developers from looking into this ICO.
We believe that Acorn Collective has potential to be a great innovation within the crowdfunding industry. The project will have to add additional information about its goals, but so far it’s a solid idea.