Reflections on a Token Sale

What we’ve learned so far, where we’re going and what we’re excited for in 2018

Reflections on a token sale; find out more at www.axpire.io

aXpire is a cloud-based and AI-enabled blockchain spend management company; find out more at www.axpire.io. Our company’s express goal is to remove the paper, pdf and spreadsheets (PPS) in the mid and back office, and to become the Salesforce of expense management. Boring is beautiful.

We recently completed our token sale at the beginning of 2018 and were blown away at the level of community support that pushed our main sale over the finish less in less than 48 hours. Our entire sale, pre-sale and full sale, was complete in 89 hours; we had targeted March 22nd.

Beyond our superb community, we would also like to extend a thank you to our advisory board and administrators; they each have brought a unique set of skills to the table, and have laid the foundation for not only a successful token sale, but also a successful company. We have a busy future ahead, and most certainly an exciting one.

All of the celebration aside, as we look at the mechanics of our token sale, we recognize that there is a lot we want to do better going forward. Our community deserves the best from us, as they have given us their best. We also want to provide a framework for those looking at doing an ICO in the future in 2018, we are all in crypto together.

We have not had time until now to address these lessons in detail, and would like to share them with the aXpire community and with the crypto community in general. We are not beyond saying that there were bumps in the road, and we’d like to share openly share these lessons in no particular order:

So, where are we going? Well, in a few words, we’re looking at expanding the use case of AXP from simply a % of the software license to e-bidding, e-procurement and a number of other uses. We want to expand the eventual use case from asset managers, to industry-agnostic to potentially white-labeling aXpire’s technology outside of spend management.

We want our platform to enjoy all the benefits of the blockchain without forcing the technology onto our customers. Now, don’t get us wrong, they will be able to use our blockchain-enabled software, but we will offer a way for them to never “see” the AXP interactions built into the background. User friendliness is key, especially as we are selling brand new technology to established (and sometimes, regulated) firms. If we can maintain a familiar “API” while enjoying automatic transaction logging security, then we will be in spend management 2.0.

So, finally, what’s next? We see 2018 as the “year of crypto.” It is a make or break year, for many reasons, most notably, regulation. This industry is becoming too big to ignore, and the “internet v1.0” feeling is real. One needs only look at an average ICO or token sale message board to see that the majority of the members are retail investors. This is not necessarily a bad thing, but we need to encourage each other to do real due diligence on companies, and to not buy due to hype. We spent <$5k on pure marketing, ignoring advisor marketing, because our focus is our company. This was seen as a detractor by third party (unaffiliated) review sites, but we politely disagree; if the software and technology are good, then they should speak for themselves. We agree marketing is important to build a community, but I think we can safely say it’s overused. Too many ICOs create noise, and that’s where the bulk of the funding goes. If this industry continues to go down this rabbit hole it may not end well; there needs to be a legitimate business case underlying the noise.

Regulators can crack down, and would have good reason if the industry was all noise and no “meat.” Look at China as a recent example of this. To date, the Chinese government has banned ICOs and shut down all cryptocurrency exchanges. The government already has plans to require Alibaba to block any exchange of cryptocurrency soon. So far, China seems to be committed to blocking cryptocurrencies, but they could very well be setting the stage to ensure they are in control of the country’s cyrptotechnology. The U.S. is watching, so let’s show regulators the promise and legitimacy of this technology within a controlled environment, or risk losing it.

We have great hopes for our platform and the future of cryptoassets. aXpire plans to stand at the forefront of the movement to further legitimize blockchain-enabled technology. Again, thanks to all involved, and here’s to the year of crypto.

Find out more at www.axpire.io

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