Eloncity is holding an ICO to raise a softcap of $10M and a hardcap of $33M. The investment will be split between three options:
Cornerstone investor: $6M
Private sale: $19M
Public sale: $8M
A total of 1 billion ECT tokens will be produced of which the maximum amount sold will be 32% of the total supply. 32% of the tokens will be reserved for miners. The remaining tokens will be distributed as follows:
Team: 7.5%
Eloncity lab: 14.5%
Marketing: 14%
Most of the projects crowdfunding is usually simply split into two tiers of the private and public sale. The private sale is usually reserved individuals who can be able to meet particular investment thresholds, usually higher than the average crowdsale investor, whereas the public sale has a low barrier to entry to the number of participants and the investment threshold. There is a particularly unique type of investor who does not fall in the above category, and that is the cornerstone investor. In Eloncity’s fundraising model, we see $6M of the $33M hardcap dedicated to cornerstone investors. In this article, I will review some of Eloncity’s cornerstone investors, highlighting their particular relevance to this blockchain project.
What is a cornerstone investor?
A cornerstone investor, usually a company in a respective field, who takes a significant portion of a fundraising phase. This depends of the project phase, meaning in a public phase, their percentage might be relatively lower while in the angel investing period, it might be significantly higher. A cornerstone investor has experience and expertise in the field the project is venturing to, so their investment kind of like offers credibility to the project, and can validate it to the public. In addition, they have deep insight into the project team, or the marketing opportunity or even the product being developed. A common example of a cornerstone investor can be found from the popular entrepreneurial pitch series ‘Shark Tank’. The sharks usually have particular interest to which projects they can be able to invest in, depending on their field of expertise. For instance, Daemon would lean towards projects that create business models in the clothing industry.
So much like, the name suggests, a cornerstone investor is a very important part of a project. To some extent, the success of a project depends on them, since they add popularity to the project by backing it. Lack of a cornerstone investor in a particularly technical project might play down the project’s appeal.
With the crowdsale in a few week, Eloncity’s crowdfunding has gotten off to a positive start with receiving the backing of a number of cornerstone investors. Some of them are discussed below.
GVC.PE
Founded in February 2018, GVC.Pe is a global blockchain investment bank. As such, some of GVC.PE’s investment portfolios cover many countries from Silicon Valley to Japan to Korea among others. Some of the projects they have invested in include: Dfinity, Coinbene, Particl, Raiblocks, Decred and Waykichain.
JRR Crypto
An innovative venture capital fund, seeking to decentralize the venture capital world, and unseat the legacy banking institutions.
The portfolio of this company comprises some of the top blockchain projects in the space such as Quarkchain, SAP, Binance, Multivac, Merculet, Distributed Credit Chain, Worldwide Assets Exchange and now Eloncity.
Collinstar Capital
Collinstar is one of the leading asset management companies with particular focus to blockchain infrastructure and digital currency investments. They help onramp institutional investors to the blockchain world.
Horman Capital
One of the blockchain venture capitalist firms which have been around for a while, since 2013.
Some of the projects on their portfolio include but are not limited to Vechain, Deepbrainchain, Qash, Elastos, IOT chain, Nebulas, INK, Cybermiles, Beechat, Halalchain and now Cybermiles.
Other cornerstone investments for Eloncity include: Powerlink Labs, Decentrust Capital, Qingzheng Capital, Fly Fund, Interblock Capital.
Indeed, Eloncity already has a large number of supportive investors who bring their much needed capital and unique experience in this field to ensure that Eloncity has the ingredients to be a successful blockchain project.
Unique identification link Eloncity: https://bitcointalk.org/index.php?action=profile;u=2333102
For more information you can follow the following important links:
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