Personally I find it hard to value an ICO. We've seen ICO's pop up that have collected millions even hundreds of millions of dollars, only to ask ourselves... is this company and their product even worth that kind of money. It would be great if there was some kind of independent valuation review for ICO's.
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We are in the early phase of blockchain, cryptocurrencies, and utility tokens. The best way to evaluate an ICO in this period is to see the idea of the startup. Whether it solves a real life problem, and the growth potential. The team behind, their experiences and credibility.
Yeah, I believe there are some out there that claim to be one, but those are really no different than stock reviewers; when it comes down to it, it is whether or not a cryptocurrency is adopted and the platform utilized that determines the value, coupled with people's subjective valuations (what people will buy vs sell it for), so any platform that claims to 'independently' value ICOs is potentially blowing smoke. When investing, I personally decide if I think the product solves a great business problem or would be emedded in public life at some point, which is why I love Steem! :) But I'm with you, it can be difficult to determine what you think the value of something will be! :)