Universa ICO is under-performing

Universa launched its ICO on the 28th Oct 2017. With superior technology, a cast of crypto luminaries, and a goal to raise 99 million, you would think that the ICO would be rapidly adopted. After 2 weeks and 40% through its ICO process, Universa managed to raise some 9 million. Not bad, but very far off the target. Compared to Electroneum which ICOed raising 40M only a month ago, Universa’ performance has been paltry.

You could blame it on Bitcoin’s recent surge and a resistance of investors to part with their Bitcoins, or you could look deeper into the Universa proposition. Universa does not require its coins to be mined. There is no economics associated with it from a revenue generation perspective. So what sort of investor is Universa looking for? Definitely not the miner. Possibly the recent hedge fund crypto entrant. This is where the support falls short.

Miners who own significant qunatums of coins are not enthused with a simple investment proposition. Hedge fund managers are keen to hold on to their core crypto currencies.

The result is having some <500 backers raising some 9M. Maybe the world doesn’t need a faster blockchain? Maybe it needs more diverse and smaller blockchains.