ICO review of GoldMint (MNT): valuation, analysis, token cost | Digital Rating Agency
We will call you soon!
Low level of investment attractiveness
Low development potential, highly speculative investments
B2
09/18/2017
Low
Quality Rate
No detailed scores
ICO
finished
Start: 20/09/2017
End: 11/11/2017

GoldMint

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DigRate analyzed a highly publicized project GoldMint. Despite the favorable public image of the project due to active PR campaign, number of issues have been revealed that would not allow long-term investors to earn profit. GoldMint – blockchain based platform which operates gold-backed cryptoassets GOLD Start of ICO - 20.09.2017 According to the results of the research we have revealed high risks of misseling (discrepancy between the essence of product and expectations of buyers), identified key issues and risks, also we provided the relevant recommendations. DigRate team recommendations are as follows: 1. To post on ICO page textual information with an emphasis on the fact that cryptoassets sold at ICO, are not gold-related 2. To provide detailed estimate of expenses for development, staff, etc. 3. To form a bilingual contract offer (Russian-English) for the Russian-speaking audience During the preparation of report the Goldmint project has been in contact with DigRate team, thereby the report contains the GoldMint team’s comments. English version of report will be available soon.
We have evaluated the GoldMint project and now want to show you our brief review, while finalizing the document: 1. MNTP tokens sold in ICO are not gold-related. 2. No formal Terms of Token Sale in Russian, while English version of contract leaves no rights to investors. 3. Expense budget is almost three times overestimated. How could it happen? Full version of DigRate’s report is coming tomorrow!
The GoldMint project (Fraud Rate Score - High, B2 rating score of investment attractiveness - low development potential, highly speculative investments) has extended its ICO for another 20 days. The project announces it has raised $ 6 million (a little more than 10% of the target amount of $ 49 million). However, out of this amount, we were able to identify only $2.5M as funds from real external investors (about 5% of the of the declared goal). Lack of liquidity may become a huge issue when Investment Funds, which have been buying tokens at price lower than current offering, will begin to take profits. Despite the professional and powerful PR, the crypto community agreed with our evaluation of the project.
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GoldMint

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Rating scores express an opinion of Digital Rating Agency and do not have any fact-finding mission or recommendations to buy, own, sell any assets and take any investment decisions. Digital Rating Agency does not undertake any responsibility for any consequences, interpretations, judgements, recommendations and other actions directly or indirectly related to the rating score, the rating operations conducted by Digital Rating Agency, any summary and conclusions contained in the rating report and rating releases, or the absence of abovementioned. The only source, depicting the real state of the rating score, is official site www.digrate.com