As 2018 enters we can sit tight with a can of popcorn to observe how the blockchain industry generates one platform after the other on a tremendously fast scale. Some platforms use private funds in order to see their visions become reality, others use angel companies and funding organizations specialized in kickstarting blockchain solutions. One of these organizations would be definitely the Swiss-based evaluation, funding and early adopter engagement ‘WINGS‘.
In this article, we’re taking a ‘quick look’ at the company’s background, focusing on their operative examples and mentioning some of the successfully funded startups since their initiation.
WINGS is a blockchain platform that seeds and nurtures a community dedicated to the launching, backing, and promotion of new projects proposals through a fluid organizational model referred to as a Decentralized Autonomous Organization (DAO). DAOs implement self-determining and independent organizational governance, management and operations using immutable blockchains and smart contracts execution.
WINGS combines several concepts, ranging from attention rewards, forecasting markets, smart contracts, governance models and federated funds security. The platform places an emphasis on encouraging the WINGS community to identify and promote high-value proposals that have higher chances of positive financial returns. WINGS creates a decentralized forecasting ecosystem that gives tangible incentives for WINGS token holders to put the effort in making the best available choices to maximize their rewards.
WINGS is a decentralized platform enabling individuals and organizations to submit new proposals to the WINGS DAO community in order for the latter to discuss, review and forecast on the proposal’s success factors. Forecasting eliminates inappropriate projects and focuses potential future backers’ attention on proposals with the highest potential. More accurately, the process filters out unworthy submissions and highlights high potential proposals that can perform a successful backing and receive promotion assistance from the community. Both the proposal submitters and the community have the ability to earn rewards for the creation and forecasting of new proposals.
WINGS will be the first project governance and ‘backing’ social platform of its kind that utilizes novel technologies such as swarm intelligence through decentralized forecasting markets, smart contracts generators, DAO contracts accessibility and engagement solutions, flexible governance and participation models, deep learning and machine-based predictive modeling.
In order to make the platform accessible, the primary interaction medium will be via chatbots integrated within popular instant messengers. WINGS will enable users to submit new proposals, get notified about proposals submitted by others, inquire for additional information, forecast on a proposal’s success chances, discuss new updates from DAOs and participate in markets to reach key decisions.
It seems that blockchain became so mainstream that there are companies specialized in starting new blockchains. A few decades ago, we experienced something similar with the internet, where no matter if you knew what it is or how it works, you had to integrate your business into it in order to be able to compete and eventually succeed as an entity. Same happens now with blockchain, where startups realize its potential and are now trying to ‘blockchain-ize’ almost anything ‘tech’.
If you’re not convinced, take a look at the list below where you can find blockchain startups backed by WINGS:
Bancor, Adex, Coindash, Stox, Blackmoon, DaoAct, Indorse, Bitjob, Swarm, Domraider, Gimli, Snip, Lockchain, Papyrus, Qvolta, Eloplay, Miniapps, Crowdwiz, Opporty, Flixxo, ESports, Gladius, Hacken, Tokenbox, Aigang, Latium, Sirin Labs, Vehicle Lifecycle Blockchain, Gaze Coin, ModulTrade, CyberTrust, Fan Controlled Football League, Aurora DAO and INS Ecosystem among many other.
Of course, WINGS is not the first major blockchain fund since many well-established, as well as new entities, focus on blockchain funding and publishing. Therefore, WINGS managed to establish a huge network of trusted partners and companies that are relying on WINGS and vise versa.
The WINGS Token
The WINGS platform uses a token with multiple roles which act as (i) the platform’s smart contract fuel and compensation for miners processing transactions, (ii) an anti-spam fee for transactions, (iii) a measure to prevent Sybil attacks by rewarding token owners according to the number of tokens they are holding. It is important to note that the success of the WINGS platform depends on the ability to pick and promote the DAO projects with the most potential to succeed, hence the main role of the token is to encourage WINGS, token owners, to make well-researched forecasts.
WINGS tokens are not a security under any circumstances. There is no promise of profit or any future value, and the tokens are solely used as the platform fuel, as an anti-spam mechanism and for preventing Sybil attacks.
Finally, WINGS tokens do not constitute a currency equivalent as they are not issued by any government or central issuer, nor do they represent any relationship or rights to the ownership of the protocol.
What do you believe about this project, and what would be your favorite blockchain ‘kickstarter’? Let me know your thoughts in the comments below.