Problem
During the 2017-2018 token sale era, there was a huge dilemma finding vetted tokens that were legitimate enough to invest and believe in. Many unvetted tokens and false actors in the blockchain space caused spectators to believe cryptocurrency and blockchain as a whole was a scam. Stories of blockchain enthusiasts buying tokens during a sale and either never receiving the tokens, exit scams, and false advertisement were very prominent. There was not a single token sale platform that would thoroughly review a blockchain project and help guide the business through a token sale. Blockchain really will make a dramatic change in the technology space, but all of the bad actors have left many eerie about blockchain because of the shady business models that were seen during this time.
Here are some of the top known ICO exit scams:
PinCoin - $660 Million
QuadrigaCX - $200 Million
Shenzhen Puyin Blockchain - $60 Million
Centra - $32 Million
Action
Token Foundry wanted to change this process by creating a platform for both businesses and users to buy highly vetted tokens. This began with creating a seedinvest type platform for blockchain projects. Token Foundry provided to its customers; full KYC audit, eliminating bad actors, simple process to buy tokens, business and roadmap ideas, monitoring and analyzing the token, and much more. The main goal was making it a safe and simple process, and having a great user experience.
Result
Token Foundry was widely known as the best platform to buy tokens from. The feedback proved that the user experience was simple and explained information well enough for users to pass sensitive information. Token Foundry had over 50+ million USD processed in the sale of these tokens. When Token Foundry would announce a token sale date on social media, thousands of people would flood to the site and participate.
