There are plenty of ICOs happening on the internet all the time. Which are the best ones to invest? That can be pretty hard to know. Because of this issue, you have to always be prepared to research a lot before investing in an ICO, but how to do that research in the first place?
Our blog hopes to help you out in this task. We review ICOs every week to give you the best information about how to invest. Today, we are going to talk about the ICO of a company called Sola.
What is Sola?
SoLa [Social Layer] wants to be the “open social layer for the Information Age”. The company wants to build a social platform that works in a decentralized way with the help of the Ethereum Blockchain.
The idea of SoLa is to create an environment where users have more voice than in traditional social media. In platforms like Twitter or Facebook, users don’t have so much voice. Digital influencers, celebrities and big corporations have almost all of the attention. Sola wants to change that.
When you open the Sola app, you will see images of the content. You can either skip or endorse the image. If you endorse it, more users will see it, there’s no need to click on some “share” or “like” button to make it more visible to other users.
How does Sola work?
The big difference between how Sola and Facebook work, for example, is that when Facebook profits from you using the site, Sola gives you a part of the profit for using and making content that is going to be shared.
Based on the collective decision of other users, Sola chooses how to reward content distributed in its platform. If the users are more engaged in the content you created, you win more tokens.
How to invest in Sola?
To invest in this company, you will have to buy their SOL tokens. ICO will start on November 27 and it will go until December 22, with a hard cap of 5.000.000 USD (50.000.000 SOL tokens). Each token will be sold for 0.10 USD.
Apparently, there are going to be no discounts or bonuses for early adopters. The money raised from the ICO will be used mostly for development (70%) and marketing (20%).
The Verdict
Sola can be a good investment if you are interested in social media platforms and their expansion. The tokens are generally very cheap, so there’s not that much risk in investing if you do not do it in big quantities.
The team and the idea of this project look solid, so there are not many chances that you will be disappointed by the company failing or scammed, although you have to know that it will be pretty hard to challenge industry giants like Facebook or Twitter in the social media field.
If you are interested in investing in Sola, give it a chance. The company has an interesting idea and fair chances of going somewhere in the market and you can profit from that.