Despite a bearish trend in the cryptocurrency market, blockchain and AI advertising platform, Ubex has enjoyed significant confidence from members of the crypto community as revealed by its ICO numbers.
The year 2018 has seen a significant decline in the ICO market, as several projects are finding it difficult to achieve their set targets. For most who did, the dwindling fortunes of ETH and other cryptos that served as fundraising vehicles is a course for concern.
As unregulated as the cryptocurrency ecosystem remains, raising funds from investors around the globe requires high quality service delivery. Projects that embark on unregulated crowdfunding processes must to a reasonable extent appeal to investors.
Therefore, in a declining market where most investors are critical with supporting ICOs, for a project to achieve a double target with regards to its hard cap remains a subject of curiosity.
Audacious Confidence in the Project
UBEX_AI, upholds certain interesting statistics for its just concluded token sale. The project achieved its soft cap of 4,500ETH in less than 24 hours after launch, without a presale. Shortly before the end of the initial date of close for public sale, the company announced a shift in token distribution date, extending the sales closure date and hard cap in the process. Many thought this to have been an audacious move at the time, considering the dwindling confidence in general crypto market.
In an email to investors, the company explained that the reason for the extension is to augment for the highly depreciating ETH value. Despite initial complains by a sector of the community, investors seemed to retain confidence in the project as they were not only patient but continued to contribute until the new hard cap was achieved.
Such developments as mentioned above raises the question of what value is seen in the project by members of Ubex and the crypto community at large and general investors within the digital technology ecosystem.
Confidence Based on Value
Digital advertising is an enormous market in today’s digital technology environment. The advent of the internet some decades ago introduces a new way for brands to find visibility. As the internet grew and evolved, digital ads maintained pace with every step of development.
This popularity garnered by digital advertising means increased competition, and this consequently attracted several practices by stakeholders within the industry, some legitimate and some a bit awkward.
Because of the peculiar interests of these stakeholders, consumers and the smaller stakeholder appear to have been relegated to the backseat. Internet users today are bombarded with ads that are of no interest to them whatsoever, pop up ads and unsolicited banners over time have become a nuisance to a lot of web users. At the same time, publishers and content owners who are responsible for most of the work done in the industry are crying over being shortchanged by the major stakeholders who are the intermediaries in this case.
A Promise to Deliver
The promise of Ubex as elaborated in its whitepaper to deliver programmatic advertising by combining key technologies remains the crux of the matter. These technologies include blockchain, AI, neural technology. Hence, both investors and the advertising community are welcoming the promise to deliver more efficient advertising procedures, trackable results with and auditable compensation system.
The cryptocurrency ecosystem is still in its early stages, therefore requires individual guts and confidence to venture into it. Unlike in 2017 where the upswing in market prices provided a perfect wave for speculators to jump in and make the kill, today’s investor’s must focus on the organic deliveries and solutions provided by projects that they commit to. So far, available evidence favours Ubex, however, ultimate project delivery depends on a follow-up as enumerated on the projects timeline.
Iyke Aru is a seasoned author and educator in the blockchain and cryptocurrency industry. He has been in the business of crypto content writing for many years with thousands of his articles across several platforms on the internet. Iyke is based in Nigeria where he stands out as one of the most informed and credible figures in the cryptocurrency industry. Outside blockchain and crypto, you will most likely catch Iyke playing or discussing football with friends and family.