SOAR ICO Looking to Take Drone Content to New Heights
From a financial perspective, initial coin offerings (ICOs) have become big business in 2018. With investments topping $12 billion, the market has boomed in recent months and now companies of all types are jumping on the bandwagon. From those already based in the tech world like Kodak ICO to recent entrants such as green energy ICO company WePower, there are few industries that haven’t been touched by token sales this year.
What is Soar ICO Offering Drone Users?
Looking to continue this trend of taking blockchains beyond their current sphere is the SOAR ICO. Based on the Ethereum platform and looking to raise $20 million, the SOAR initial coin offering is vying to change the drone industry. As per its mission statement, SOAR is a decentralized marketplace where drone users can buy and sell content. Despite sales topping $4.7 billion in 2017, there isn’t a central platform for images captured from the air.
To support the SOAR token sale, SOAR published its whitepaper in May 2018 and now it’s ready to start raising funds. The aim of the project is to use blockchain technology to create a place where stills, videos and maps can be stored and sold. Using the SKYM token, users will initially be able to exchanges goods and services. However, beyond giving content creators a way to make money, the SOAR ICO will support a new mapping project. By aggregating drone content from thousands of users, the company will piece together a self-governing mapping ecosystem.
Is SOAR Set to Rise Above Google?
Those that invest in the SOAR ICO cryptocurrency will be helping to build the next generation of Google maps. Instead of cars driving the streets and capturing images, SOAR will use aerial footage to build up a comprehensive map the world. All told, the SOAR token sale will release 27% of the 510 million SKYM coins created. Although there is a lack of information regarding presale bonuses, the project is certainly interesting. When you scroll through the latest ICO list, many of the prominent projects fit into the same mold. The SOAR ICO isn’t wildly different from a tech perspective, but it does appear to be an innovation in the drone market.
Taking an objective stance, an investor reading the latest ICO news always has to question whether a product or industry has longevity. Enthusiasts will say that drones are the image-taking tool of the future, while others might say they’re a nothing more than a fad. One thing we know is that a lot of ICOs have turned out to be worthless or, even worse, scams in recent times. With everyone jumping on the bandwagon, a few bad apples can make it into the mix. The SOAR ICO doesn’t look to be a bad apple. However, it’s worth taking a step back and asking whether blockchain-based mapping is really necessary or can it become the next Google maps?