Hello, Steemit!
The recent Decentraland ICO took the participants on a very unpleasant surprise by concluding just mere 35 seconds after the ICO commenced. It was a notable and notorious accomplishment as the developers allowed 5 large investors to take part in the ICO before it even started. This took place without giving any sort of a notice to the community. Generally, those that were successful in participating in the ICO utilized pooled smart contract prepared by your fellow reddit member.
On one side of the spectrum, those that successfully participated in the ICO were given the golden opportunity to be in the very minority of the public MANA token holders. On the other side of the spectrum, individuals who eagerly anticipated for the ICO were left with bitter disappointment and salt. Many are contemplating whether 'Decentraland' is following its vision of being a truly decentralized VR economy as MANA tokens are heavily concentrated with the early large investors.
Initially, it wasn't planned to turn out like this. ICO contributors were promised 40% share of the tokens, but the unexpected participation of the large investors in the ICO ruined it.
Personally, I was one of the lucky people in the minority who participated in the ICO through the smart contract and there's no doubt that these MANA tokens will generate a good amount of return. But I was also a believer of the project and followed the decentralized vision that the project shared. Needless to say, I am very disappointed in the manner that this ICO was conducted. I have a mild suspicion that the team's original intention was to be funded by large investors and to use the ICO opportunity as a mere marketing tool.
Whilst I respect and acknowledge the fact that Decentraland's team has no obligation to sell the tokens to the public. However, the lack of communication and transparency is a huge issue that needs an immediate attention and be addressed as soon as possible. Despite my pessimistic writing above, I remain very confident that the project is solid. With an innovative vision, a strong team with diverse and relevant backgrounds, and realistic future plans, I have no doubt that the project will succeed.
However, with this massive fiesta taking place, I will be watching very closely on the progress and effort the team makes to satisfy the angry community.
Comment on what your take on this ICO is!