We all have seen some really ambitious projects being launched on Ethereum smart contracts and blockchain technology. We have seen coins that claim insane interest rates on their Proof-of-stake systems, as well as decentralized supercomputer being launched, but this one is perhaps the most ambitious and to some extent the craziest ICO we have ever encountered.
Asteroid Ltd, a new company aiming to launch coins to claim rights to nearly 600,000 asteroids present in our vicinity in the Solar system. Since there is no mechanism to divide these asteroids among people, Asteroid team wants to become the first one to lay claim to them using blockchain technology and distributed ledger.
But why would anybody want to lay claim to any asteroid in the future? Well, it turns out they have some reason. According to leading experts in celestial bodies, there are over $700 quintillion dollars worth of mining resources in asteroids in our vicinity!
As far as space travel is expected to become popular in the future, humans are expected to be minded to benefit from these immense resources. In case of asteroids there are enough resources for everyone, that’s why Asteroid team aims to enable people to lay claim on them.
This is what the team is calling democratization of space. They are have branded the proprietary mechanism “Blockclaim” and assure that with the help of this tech, people around the world would be able to assert rights on individual asteroids and even multiple ones depending on the number of coins they own. Yeah, it’s as simple as that!
This is not all Asteroid Ltd has in store for us. They are going further to show that the platform can be used to search and pay claims using the ASTR tokens (Asteroid Ltd’s native cryptocurrency). Each ASTR token is to be backed with a blockclaim outlining the right for a particular asteroid. In the near future. These ASTR Coins are planned to be used for trading purposes as well.
Asteroid Ltd is obviously putting stakes on the success of the space missions to bring the project to reality. With each successful mission, the worth of ASTR coins is likely to increase.
But, why should it increase? Till today we haven’t succeed in sending people to Mars, and it is likely to take us several decades before we are able to do that. In addition main asteroid field is even farther than Mars being located in an orbit in between Mars and Jupiter. Also there already have been talks of privatizing space, but it has hit multiple roadblocks because of the attitude of some investors and industrialists.
These factors are problems at the moment but in the future they will be irrelevant, which is why Asteroid Ltd is actually getting a foot in the door as an innovator at this early stage.
The pre-ICO of ASTR coins is open. It will run till November 20th, 2017. The main ICO of ASTR coins will start on November 21st, 2017 and will continue till December 18th, 2017. Only 100 million tokens will be issued. There is a heavy 75% discount for early contributors. Upon completion of the Token Generation Event, ASTRCOIN will freely trade on cryptocurrency exchanges and might be used to register Blockclaims.