Idice 30% Discount Ends Shortly
Idice is half way through its ICO, and will no longer be discounted 30% in just a few short hours. The campaign started on June 12th and will end on June 26th. I am fascinated by these ICOs as nearly all of them have performed extremely well after being listed on an exchange. Idice is very intriguing and I have dug into it heavily to provide an analysis of potential explosive gains in the coming weeks and months. It has been difficult to find much decent research on this ICO as there doesn't appear to be many writers doing any real analysis.
What is Idice?
Idice is a gambling platform created on the Ethereum block chain. There are many successful dice sites already, but where Idice stands out is its development of the first gambling mobile app. There is huge untapped potential if they can pull off a seamless dice app. Imagine how many people would open an app on their phone to do a little gambling with Ethereum. A portion of the ICO proceeds will be used to develop the app.
Let's get to the numbers
This is what really peaks my interest. If Ethereum's value holds constant near the $380 level through the remainder of Idice's ICO, then it is safe to estimate a value of an ICE token at $2.92. ICE is expected to be listed on exchanges following the ICO.
Calculating the Market Capitalization
Knowing the value of the token and realizing the ICO is half way over, we can derive an estimated market capitalization. As of this post, there have been about 588,000 ICE tokens created in the ICO. Let's say the final week sees similar results, but a bit less due to the 30% discount going away tonight. So let's say when the ICO is complete, the final ICE tokens generated might be around 1,000,000. This would give a market capitalization of $2,920,000. That alone seems like a reasonable number and not too high.
ICE Could See Massive Gains Following the ICO
The part that gets me really excited is when you compare it to competitors. Etheroll and vSlice come to mind with market caps at $29,181,293 and $32,709,764 respectively. Idice will need to prove itself, but if the app is developed successfully, it could see a similar market cap and possible much more. Even with uncertainty about the app, Idice should see 1/3 to 1/2 the market cap of these competitors. If you're crunching the numbers, that's a 300%-500% gain over the ICO price and that's being fairly conservative. These results were enough to convince me to buy into the ICO.
Transparency Issues with Development Teamx
There are some concerning aspects to the Idice ICO that I feel I should share with you all. There seems to be some transparency issues with the owner and development team. It is hard to find any information on who is behind the Idice campaign. If you go to the founder's LinkedIn page, it has been removed. That is very questionable. I would love to hear an explanation for that. Does anyone know or have any ideas why he might remove his page? There were some people on message boards screaming scam. I really hope that's not the case.
Risks Vs. Rewards
Also, the gambling code appears to be copied from Etheroll with minor changes. It is open source code, so not completely wrong. It just tells me the development team isn't strong on developing code, but hopefully strong on developing the app. There are going to suspicions and concerns with every ICO, so just be aware of as much information as possible. The campaign crossed the $1 million mark today for investments, so clearly many are seeing value. I think the potential triple digit gains far outweigh the risks with this ICO.