The Sapien ICO brings the chance to invest in a decentralized social news platform, using the tagline “take back control over your social experience.” It aims to reward millions of content creators and curators without the need for any sort of centralized authority or intermediaries.
The pre-sale of tokens begins on January 31 and will run through to February 15.
The basic details of this ICO allow us to get a better understanding of its chances of being a success and of making money for the people who choose to invest in it.
The information provided here is for informational purposes only and should not be seen as investing advice. Our opinions on this site are only that, if you are considering an investment into cryptocurrency or anything we speak about on this site, please advise a trusted financial professional first, before doing so.
Hard Cap: 225 Million SPN
Payment Methods: ETH
Total Cap Size: 500 million SPN tokens
Pre-ICO Date: January 31 – February 15
Public Sale Date: March 3 – April 3
The team working on Sapien have identified social news as being an area that could benefit from a decentralized, blockchain approach. Overall, they aim to let people take back control by giving them a way of creating better, more relevant content.
The network’s users will give a rating to content creators, allowing everyone to know who can and who can’t be trusted to provide valuable, interesting content.
Project Use Case
The Sapien white paper covers a number of different use cases to show what their network could do to make social news better. The first one is about fake news and how they have a three-pronged approach to cutting it out.
The next use case comes in the form of a "unified media portal" that should help people avoid the hoop of signing up and paying for subscriptions on various news sites.
Finally, the last use case is called tokenizing virtual goods. This will be done by creating a marketplace in which many different virtual goods can be bought and sold by users.
Sapien Team Overview
The team that is working on Sapien is varied and appears to provide a suitable mixture of skills for the challenges ahead. Ankit Bhatia is the co-founder and CEO. He comes from a strong background in development and cryptocurrencies.
Also in the team is Robert Giometti, who is the CPO and co-founder, with a background in mathematics and electrical engineering and computer science. Matias Dorta is in charge of marketing strategy and he comes to Sapien from a political science and marketing career.
Also on the team is Stefan Ionescu, as lead Solidity developer, with experience in blockchains and machine learning models. Aurélien Nicolas is their security expert, and Christopher Lee is the head of PR.
Another important role in this project is taken by the advisors. They are listed on the official Sapien site as being Latif Nathani, Christian Ferri, Gregory Berkin, Adnan Javed, Dr Mihaela Ulieri, and Raghu Bala.
How Does The Token Work
The SPN token can be used in a number of ways. For instance, they can be staked for a period of a year, allowing the user to vote, submit, and carry out other actions. In fact, this is one of the big differences from many other blockchain projects, as the tokens aren’t just for spending but also for being locked up in this way.
There will also be a way of simply transferring tokens, as well as a marketplace where they can be used to buy products. This is a flexible, ERC20-compliant cryptocurrency that is designed to be easy to use and store.
You can see on the Sapien website how the total number of tokens will be split up. 45% of the tokens created during the token sale will be put aside for the people to use their ETH to set up a smart contract, while 20% will be locked up for the founders and the team on a 24 month vesting period and a 6-month cliff.
Another 30% will be on the platform reserve for the second phase of the token sale, while 5% will be put aside for the bounty program.
What Do Investors Gain
This is an interesting way for investors to try and make money while taking part in an ICO that could bring an exciting new approach to social news. As is typically the case with this kind of project, the main hope for investors is that the tokens become far more valuable as they are used by increasing numbers of people.
The way that SPN tokens can be locked up rather than spent is an intriguing way of working and it will be interesting to see how it affects the value of the platform’s currency over time.
9 QUICK WAYS TO EVALUATE ANY ICO
With dozens of ICOs coming out each week, we've put together an oversimplified 9 step framework on how we evaluate ICOs. Download it and start your ICO investing with a no-bullsh*t resource.
Opportunities & Risks
The white paper for Sapien certainly does a good job in letting us see the potential for this project to be a success. By combining Blockchain technology with social networks, they promise to give the world something different which could be exactly what is needed right now.
Of course, you will come across similar risks as on most ICOs, but it is still important to be aware of them. The risk of the platform being hacked or illegally accessed is one concern, and it is addressed in the white paper with some comments on what has been done to secure the system.
ICO SIGNALS :
The basic idea of decentralizing social media networks and letting the public get more involved in content generation is a good one. There are sure to be a lot of people around the world who nod their heads in agreement at some of the points that the Sapien team wants to deal with.
However, will these people support the network and use the SPN tokens in the future? That is the great uncertainty about this ICO and it is the answer to this question that'll let us see how successful their network is going to be.