Wings Platform forecasters

Interview with Wings Platform forecasters: Forecast projects, Earn rewards

Initial Coin Offerings (ICOs) have taken the crowdfunding world by storm and they continue to gain traction around the world. The fast-paced growth of ICOs demonstrates a dire need for innovators and entrepreneurs to connect directly with project supporters and early adopters who can relate to their vision and allow their ideas to flourish into a real-life project without all the red tape associated with traditional V.C funding.

Although ICOs are opening up new possibilities both for project creators and backers, they also come with their fair share of problems, the most obvious of which is the growing number of scams and low-quality projects that are coming to the cryptocurrency/blockchain space to get easy and fast access to capital. With these new problems, the need for new protection mechanisms, among other tools, becomes evident.

Leveraging the concept of the “wisdom of the crowd”, WINGS is providing both project creators and supporters with a new set of tools that can help them navigate the nascent world of ICOs. Featuring its own decentralized community of forecasters, WINGS allows developers to expose their ideas and to submit them for the forecast. The process allows the project to receive an accurate valuation which can also help guide project backers through a transparent and decentralized jury of evaluators.

The aforementioned feature is only one of the many aspects of WINGS a platform running on Ethereum and IPFS. However, it has made WINGS stand out among other ICO platforms, with several large-scale projects like DomRaider, AdEx, Bancor and BlackMoon Crypto using the technology and being forecasted by WINGS token holders. In exchange for their services, forecasters are rewarded with tokens from the project and with funds gathered during the campaigns based on their valuation skills. The decentralized incentive algorithm has made WINGS gain traction in the space as a go-to platform for identifying quality projects.

In order to make a forecast, users must hold WINGS tokens and lock them up during a projects forecast period which typically runs several days. We talked to some of the members who have participated in the forecasting process to understand how it works and what WINGS token holders can expect. Amanai, who has forecasted over 6 projects, told us that the possibility of being involved in the forecast/reward system is one of the most attractive aspects of WINGS. “ it’s the first product in which I make money with the platform itself and not by selling the tokens”, he said.

Amanai also told us that the process is extremely rewarding for the project and team itself. He stated:

“They get more exposure (consider it as advertising and PR)  and they also get to figure out what amount is easily reachable during an ICO.”

Crypto_NL, who is a member of the WINGS decentralized community and a cryptocurrency and blockchain enthusiast since 2013, has forecasted several projects on the platform such as Bancor, Coindash, Adex, Indorse and Stox ICOs. The WINGS Platform has allowed him to connect with and understand the projects at hand while generating rewards from his forecasts. When asked about the most rewarding forecast so far, he told us:

“I was quite enthusiastic about the Adex project and I actually also participated in the ICO myself. It still has a lot of growth potential, with the core platform just being released and its partnership with NEO announced I expect quite some more growth of the value of the token.”

Lei, who is also an active member of the WINGS community, also participated in the AdEx forecast. He told us:

“I am positively surprised with AdEx’s recent results. WINGS community did certainly help. Decentralised ad exchange has great potential in solving many challenges in the ad industry. Though, it is also a very competitive market. Compared to some others, AdEx has a much wider token distribution and making good progress.”

Lei believes the forecasting process is useful, not only for its rewards but also to spot and keep up with promising ideas in the space:

“I get to know the project early. I am confident investing through WINGS. I am informed about the latest news and updates. Just do it, take the rewards & hold them.”

With so many ICOs on the horizon, and people from all around the world getting involved it’s tempting for people to get involved and jump in without research.  With WINGS those thinking of participating in an ICO now can leverage the “artificial intelligence” of a crowd numbering at nearly 500 evaluators who are compensated to review and evaluate projects.  The ICO world is indeed a wild west, but the crypto community appears to be maturing to help newcomers more easily identify and categorize projects seeking capital.