The Maecenas ICO begins September 5th. Maceanas is a decentralized art gallery seeking to raise up to $20 million. In preparation, here’s some stats, info, and links from other a number of ICO analysts.
Maecenas in their own words: The Decentralised Art Gallery
The first open blockchain platform that democratises access to Fine Art
Maecenas ICO info
- Symbol: ART
- When: Presale for private invites & cofound.it priority members begins September 5th. Opens to public Sept 7th. 12pm PST in both cases. Must join & fund CoFound.It Priority Pass by today, August 31st to access presale.
- How Much:
- 30% of tokens in ICO
30% kept as reserve liquidity fund
20% allocated to incentivise partners and client acquisition
20% retained by Maecenas
- Hard cap $20M
- Soft cap $3M
- Max market cap of $67M
- 30% of tokens in ICO
- Distribution: Immediately after contribution, locked from trading for 1 week.
- Exchanges: No info found
- Who is running ICO? The Maecenas ICO is being run by Cofound.it. They select promising business, give them guidance, and prepare them for success. They’ve run other successful ICOs, including the Musiconomi ICO, which was nearly sold out by the time of the public sale. Nice that company has been vetted and has good guidance.
What Others Say about Maecenas
CrushCrypto analysis of Maecenas (summary): Neutral for flipping due to lack of awareness relative to size of hard cap of $20M. Good for long term due to being an innovative business model without much competition in a potentially huge market.
CrytoCompare has not listed Maecenas yet.
TokenMarket writes that Maecenas will democratise access to fine art by creating a decentralised art gallery — a truly open platform where anyone can own a piece of a Picasso. They are building a global art blockchain market where assets are traded quickly and fairly on a liquid exchange. Currently there are just 38 followers (for comparison, Monetha had 638 just before their ICO.)
TokenData summarizes Maecenas as a “marketplace and investing platform for art.” No further commentary or info.
ICORating has not yet listed Maecenas.
BitCoinTalk doesn’t appear to have a dedicated thread to Maecenas.
ICOCountdown has not listed Maecenas.
The project sounds interesting and there is a lot of potential. The art market is huge and largely inefficient. Competitors charge large fees and artwork is often off-limits to smaller scale investors. Maecenas’ platform has the potential to open the market to new investors, provide liquidity, and undercut competitors – provided they convince others to adopt the concepts and business model.
Admittedly, I don’t know much about the fine art market, but my guess is that there is hesitation to changes in the industry. So far, Maecenas has had “discussions with c-level execs” at a number of insurance companies, wealth management offices, law firms, etc. They don’t currently have a publicly accessible product (only in MVP stage) nor any paying customers/clients – though they have “30 artworks in pipeline worth over $100 million” have been proposed to the team.
The ICO hasn’t gotten the attention you’d expect from an ICO looking to raise $20 million at a $67 million valuation. Demand for CoFound.it’s previous ICO, Musiconomi, was more than I expected, proving to be more than sufficient to reach their hard cap within 30 minutes after the public sale began. However, it will be more difficult to reach a hard cap 2.5x as large.
There is a pre-sale but at this time, given the lack of attention and large hard cap, I’m content waiting for the public sale to see how the ICO develops.