Why is Bountie going for ICO?

It’s been a crazy 2017 and the number of ICO just keeps increasing month by month. I won’t be surprise if we have hundreds of companies going for ICOs in a given month in 2018.

There are many reasons why so many companies are doing an ICO, let me share with you specially why Bountie is doing this.

1. Real Market Validation from the Investors and Gaming Community.
   When Pebble launched their first Kickstarter campaign and raised $10.3 million in 2012, the world was both shocked and inspired at what they have achieve as a startup, with just an unique vision and simple idea, they changed the Kickstarter and watch industry. Not only they raised a huge amount of capital to fund their idea and grow their startup, they also had real customers who pledged their hard earned money to support Eric Migicovsky in his idea in exchange for recognition and/or products. Bountie aims to achieve the same with ICO as well. It’s easy for startup founders to get caught up in their own bubble and build a product that only they think can work/sell in the market. With an ICO, we would know for sure if the market really wants what we are building and how badly it wants it.
2. Traditional vs Crypto Investors.
   As Bountie is building it’s platform with the Blockchain and Smart Contract technology, we felt that if we have buy in from the Crypto community, it would mean that the direction we are moving into is correct. This industry is still in its infancy, only a small percentage of the popular truly understands how powerful this technology is and how it can truly change Gaming the way Bountie is going to do it.
3. A new way of fund raising.
   Fund raising is almost a necessary process for startups looking to scale at breakneck speeds. There’s only so much you can do/grow by bootstrapping, funding with personal credit card will only take you through the Minimum Viable Product. You need to consider the salary for new employees(not everyone is willing to work for pure equity), marketing and paid advertising, business fixed costs like rental, professional services and many more. To grow in the trajectory of a rocket, you’ll first need to buy some rocket fuel.
   Traditionally to raise funds, you’ll need to sell equity in exchange for cash or line of credit. With ICO, you can sell your coins/tokens in exchange for cash or crypto-currency. This allows the core team and stakeholders to remain in control of the business vision and direction while having the funds to build it out. We have all read or seen horror stories where Founders were push out of their own companies for better or worse. Sometimes this is necessary but definitely not at the start, giving up too much equity in exchange for funding often result in the founding team asking why are we still in this with so little stakes and skin in the game. To raise funds without giving up equity and control allows all stakeholders to gain.
4. Creating and issuing Bountie Coins.
   Having our own Cryptocurrency is the main piece of puzzle in Bountie. With this we can utilize Smart Contracts in our core functionalities like the Tournaments, Leader boards, Referral Schemes and more. Using Bountie Coins also prevents fraud/counterfeit, immediate settlement, lower transactional fees and truly global access.

Our pre-ICO starts 26 February 2018. Do stay tuned in our social media(Facebook, Twitter & Telegram) and Medium for more updates.