ICOs that are interested in participating in the event are invited to submit the required information by 3rd June, 2018. Each ICO will have a 10-minute pitch in front of a qualified panel of judges who will make their evaluation based on five steps; solution of the problem, business & token sale model, token sale terms, the team behind the ICO and their pitch. In addition to the prizes, Eidoo is offering the ICOs attending the semi-finals and finals the option of a 20% discount on their acclaimed ICO Engine Platform.
All ICOs that enter will be filtered through specific criteria. Adhering to traditional market policies, each team will be required to explain how they aim to address distinct problems with their product or service. From this, the panel will evaluate the market potential, the consequential future demand and the scalability of the project.
Judges will be looking at why a new token is needed, why an on-chain solution is necessary and how the project could be successful.
Finally, the judges will consider the evaluation of the token release process, the pricing and the discounts applied to the ICO backers.
Entrants are expected to come from a wide range of sectors including finance, IoT, artificial intelligence and identity, amongst many others. Successful ICOs will be ranked based on the evaluation given by the judges. The top three ICOs will be awarded as follows:
1st place – $600K + Listing on one of the top 3 exchanges in the world
2nd place – $300K + $100K discount on ICO Engine Services
3rd place – $100K + $100K discount on ICO Engine Services*
Eidoo CEO and ICO Race judge panellist, Thomas Bertani, says of the event:
“The ICO Race is an opportunity for up and coming ICOs to strengthen their chances of succeeding. For Eidoo, it’s extremely important for us to penetrate through the growing market of ICOs to ensure we support sincere and innovative ideas making the best use of token sales, a completely modern and decentralised concept. We’re very much looking forward to meeting and hearing from a multitude of teams with potential working relationships in mind.”