Crowdfunding is already well-established in the Internet age. Beyond Kickstarter, several ICO projects perform their versions of raising funds, for various purposes. Now, Root Project claims to bring fundraising to the most vulnerable layers of society, and foster crowdfunding for community-minded projects.
The Root Project is a well-known organizer of campaigns with a socially significant impact. Now, a token is added to share in the wealth of cryptocurrency. With this move, the Root platform recalls the move of Kickstarter, which also looked into adopting token sales as a source of raising venture capital.
Roots Project is different, and bets on an already established reputation, a network of experts and other organizations. The ICO, which should already have started the sale, but may, in fact, last for a very short time, is a different opportunity, caring a bit less about technology and profits, and more about using the blockchain and tokenization for community charity and social campaigns.
What is Root Project?
- Root Project
- Root Project White Paper
- Country of origin: USA
- Ticker: ROOTS
- ICO Dates: 25 January – 31 January
- Hard Cap: Unknown
- Funds raised: Unknown
- Industry: Fundraising
- Funds accepted: Ethereum
- My Rating: 3/5
Root Project Social Media
Root Project Overview
The Root Project ICO aims to use the far reach of the crypto community to expand the goals of the fundraising platform. ICO backers would gain voting access and more control over the projects, by holding the ROOT token.
“Holding tokens allows you to participate in the community we’re building: Voting on what local projects should get listed, using your local knowledge to make them better, proposing your own community crowdfunding campaigns where the work gets completed by RootProject once it’s funded.”
The Root ICO requires a pre-registration and white-listing. The ICO dates, spanning just a few days, were announced on the World Economic Forum in Davos, Switzerland.
The way fundraising would be done is that the funding would once again be gathered up in USD currency, but some of the proceeds would buy back the tokens. Some of the hard-capped tokens would also be reserved in a fund-like entity.
The Root Project Team
The Roots Project was co-founded by Dr. Nicholas Adams Judge, a political scientist, and big data expert. The team also includes co-founder Chris Place, a marketing and startup expert, and Anton Kraminkin, the development director, is an early cryptocurrency adopter.
The team is ready to expand the international presence of the ICO, with a special focus on the Korean market. The experts have built just enough of a digital asset, focusing more on the fundraising and campaigning, and less on the blockchain itself. The rest of the team includes:
- Zac Filan – Principal Software Engineer
- Dr. Ashley Hooper – Advisor
- Alex Bazhanau – Principal Ethereum Engineer
About Root Project Token (ROOTS)
Users can buy the ROOTS token in the current ICO, which still has not announced an official start, but allows for pre-registration. In addition, tokens can be earned by participating in the Root Project ecosystem. Donors will receive some ROOTS.
Additionally, the token would also serve as a reward for experts who pitch in to evaluate donation products and their impact on the communities.
Tokens will also be awarded for initiating projects, and bringing them to completion with adequate funding.
The ROOTS token does not list an intention for being traded on exchanges. As an ERC-20 token, it would be compatible with the EtherDelta system.
Investing in Root Project: The Pros
Root Project is extremely popular. Adding cryptocurrency to the mix may only grow this popularity. The Root Token itself has a very prominent spot in the ecosystem, and demand for this digital asset may remain high.
— RootProject (@RootProjectCo) December 14, 2017
The project is well-staffed with experts and advisors and has a clear idea of continuing the activity in a more efficient way, adding a token into the mix for improving the fundraising process.
With a strong brand name, this well-organized ICO has no restrictions for US-based investors. There are no upper or lower limits for participation. And if buying the tokens in the ICO, for Ethereum, is not enough, users may also earn tokens in the future.
The Risk of Root Project
Root Project is a well-established fundraising platform. The risk of participating in the ICO is that sometimes, famous organizations perform poorly, and their token is rejected by crypto traders. It is unknown whether Root Project would manage to market itself effectively to the crypto community, and make its token visible and well-represented on exchanges.
Buyers who would seek a high-quality project to sell quickly may bypass this ICO, which could prove to be a long-term proposition and a better fit for socially-minded investors, who want to generally support this project.
Final Thoughts on Root Project
Root Project has built a unique, app-enabled system that mixes the enthusiasm of amateur fundraising with a serious, on-the-ground organization with vast experience in social projects. This means that a wide user base would be able to propose campaigns and complete them with the help of experts from the already established ground team of the Root Project organization.
The token is additionally appealing since purchases can be written off as tax-deductible donations.
The Root Project has also joined the Blockchain for Social Impact Coalition, a world-spanning organization, which includes 20 other partners from Geneva, Glasgow, and London to New York, San Francisco and DC. The Coalition works on social issues in the most disadvantaged areas of the world.
While Roots Project may become the non-profit fundraiser of the crypto world, the ICO has also gathered around backers who only care about the token market price, for a quick speculative gain. Because of this, My Rating for Roots Project is 3/5. An otherwise excellently executed ICO with a clear socially-minded idea, Roots Project's token sale contains risks, and it is best not to over-invest unless there is also a clear plan for participating in the ecosystem. Trading the token profitably may end up with losses.
Should YOU Invest?
Honestly, most people looking to invest in altcoins, tokens, and ICOs are hoping they discover the next Bitcoin or Ethereum. The chances of that are rare.
So where is your money best invested? My recommendation might surprise you. It's free to join, and won't require that you invest in risky cryptos!