investFeed, the innovative social investment network for cryptocurrencies has received strong community support for its token sale started on July, 23, that has been closed several hours ago at 9AM UTC, August, 7th. investFeed has received 15,038 in ETH from its token sale, according to the company’s CEO Ronald Chernesky.
“The amount of community support we have received over the last two weeks has been unbelievable and only reinforces our drive to deliver the best product we can to the cryptocurrency community,” said Mr. Chernesky. “When we sought out to create an incentivized, next-generation social investment network for cryptocurrencies, we placed democracy at the center of our mission. ”
He continued: “That is why we held our token sale: we understood the importance of placing power directly in the hands of the community. Our development team has built the first version of the platform already and it’s receiving great feedback. We are going to keep rolling out advanced features and unlock new functionality; it’s now time to turn this vision into a reality.”
Being initially focused on traditional financial markets, and more particularly, on social trading for US Equities, investFeed has turned the existing platform into what they call “the cryptocurrency epicenter,” which provides tools for social networking, live streaming feeds and channels, cryptocurrency market data, trading signals with progressive trading tools, and portfolio management options.
Explaining the platform’s decision to take a new direction Mr. Chernesky stated: “Our strong belief in the future of cryptocurrencies prompted our decision to pivot from equities to decentralized digital assets. We feel that investFeed’s future should fully embrace the greatest technological breakthrough since the Internet.”
Its needless to say, that cryptocurrencies have made a large impact, overcoming the roadblocks thrown at them by the conventional financial system. Their innovative nature, remarkable adoption rates, and diversity has made them an attractive investment option, especially among millennials whose trust in the traditional financial sector continues to ruin.
The project has been under continuous work since 2014 turning into a social investing platform with multiple social network features as a result of observation, constant development and iterations.
The CTO of investFeed Andrew Freedman explaining the company’s shift from equities to crypto assets said: “The switch from equities to cryptocurrencies will also target a millennial user base that has shown disinterest in traditional investments. According to Bankrate, only one in three millennials has invested in the stock market. Millennials are more excited by this new technology because they feel empowered by the ability to participate in markets without traditional third-party interference.”
The investFeed’s team claims, that the network is designed with the cryptocurrency community in mind, which distinguishes it greatly from other social investment networks. It provides its users with insights into the cryptocurrency market along with a variety of other helpful features to make it a true central hub. The network’s strategic main goal is to integrate cryptocurrencies into the traditional financial world and to create a single gateway to the market that is open, transparent, and is rewards-based for all users, contributors, and financial institutions.
Fragmentary world created by great number of platforms, that have failed to serve the cryptocurrency community, leaves its users scattered across multiple social networks and applications as they continue to try to share their insights. To crack these problem investFeed has created a platform that addresses all the problems with social investing faced by the cryptocurrency community.
The FEED token offered by investFeed gives users access to content subscriptions, premium content, advanced investor tools, gives the possibility to promote one’s own content on the network, and even provides with ad removal features. In addition, the platform incentivizes active contributors with rewards that are more befitting and attractive than the ones currently available on other social networks.
The FEED has a large amount of value on investFeed. It encourages content creation by both professionals and nonprofessionals alike for the benefit of the entire community. Millennial audience is expected to find the new network to be a great tool to manage cryptocurrency-related activities as they find digital currencies to be a safe haven from corporate interests. Also, their familiarity with social networks makes investFeed an ideal platform to participate in social investing as they continue to search for platforms to voice their opinions on the subject. On top of that, investFeed social network also includes added functionality for portfolio management and order capabilities through third party APIs.
“It’s like Facebook, cryptocurrency and the Bloomberg Terminal met for the very first time,” said Mr. Chernesky.
All in all, investFeed, with its aim to to democratize the social media experience by providing an independent commentator equal weight with a larger figure, is looking to appeal not just towards the established cryptocurrency community but to nonprofessionals as well, thus broadening its pool of prospective users substantially.
The successful investFeed token sale will allow the acceleration of product development, while promoting developer adoption and network growth.