A Look Back at the 2 Years SaTT Journey on the Token Sale Market
In what looks like the journey of over 2 years that have witnessed some difficulties, roadblocks and drawbacks, the SaTT advertising blockchain team have successfully rounded up its tokensales in a grand style raising well over $4,000,000 in funding within a short period of time in its recent ongoing rounds.
This success encountered by the token sale is as a result of the impressive resolution of the team to see a fruitful end of the tokensales journey spanning two years of bear market, low sales, government regulation hiccups and high fail rates by other projects also carrying out fundraising activities.
What looked like a sharp fall in interest of ICO participants and general crypto markets resulted in the bear season of 2018 and 2019. For 2 years the ICO and general tokensales market fell drastically in value and interest. SaTT project successfully launched its tokensales during this period and raised $1,200,000 but was unable to reach its softcap.
Softcap is the minimum amount required by the project to operate and scale successfully. With barely reaching its softcap, SaTT advertising project reached a critical and crucial point of its initial existence. Should the project be closed completely? Continue with token sales despite the fall of the market?
This critical decision reached later by the community and the SaTT team for a possible refund of participants who may not be willing to continue with the prolonged tokensales in a voting exercise lead to the continuation of the fundraising despite the uncertainty of the ICO market and the general cryptocurrency sector.
This provided the needed platform through which the SaTT project has come to witness incredible success today, a community backed decision to continue with the sales and faith in a successful outcome.
In 2017 the ICO market successfully raised over $4.9 billion with just over 850 different projects and another $6.3 billion for over 1,100 projects in 2018 while in 2019 saw over 95% drop in overall participation with only $371m in financing. The drop in participation and funding is significant for a lot of reasons.
The drop was to mark the end of a crazy market infiltrated by low quality projects and scams that took advantage of the naivety of many enthusiastic customers at the time. Where projects with fancy websites and well worded lightpaper and Whitepaper were able to amass insane amounts of funds out of thin air.
The drop afforded surviving projects to undergo tough scrutiny by now saner mass of purchasing customers, allow projects with no utility offerings to fail, an opportunity cost paid by some quality projects without the right community. It was in this period, projects with realistic goals set to fulfil utilitarian values thrived, projects such as SaTT advertising blockchain.
Convincingly, in this bear period of 2018 where finance police, security and exchange commission have come for projects that have failed to play by the rules, another situational cause of the bear market at the time (where projects which are security by nature posed as utility companies) SaTT have played true to its intentions. A whopping 80% of these upcoming projects were tagged scams and another 8% barely listing on secondary markets gives the picture of the period that characterized mass failure of projects on a grand scale.
In these 2 years, SaTT has continuously followed its roadmap, providing solutions for remunerating influencers and micro-influencers on Facebook, YouTube, Twitter and Instagram invariably leading to a mass exodus of both influencers and advertisers in the platform in a few months. The SaTT platform has posed to be the solution for advertising needs in the blockchain and have stayed true to that and as addition to these utilities, a decentralized exchange as well as wallet have been developed on the SaTT platform.
By plugging to the SaTT ecosystem, businesses can now have effective and innovative advertising campaigns at reasonable budgets, significant results can be obtained when advertisers use the platform to promote their products and services as influencers are available across available social media platforms.
After trying out several marketing campaigns, the SaTT team has successfully hit their softcap selling over $1,000,000 in less than 48hrs, $3,360,000 3 days ago and now at $4,000,000 sales today. A result that was achieved with the help of several actors, including Richard Wang of Dragon Draper Digital Fund and the flagship marketing agency of the moment Markchain.
This result will give rise to the complete fulfillment of the advertising company’s aim to provide turnkey solutions using the blockchain.
Due to these successes, listing of the asset on 2 secondary exchanges on Kucoin and Uniswap is scheduled for the 24th of September 2020, few days from now, after which the project team will be focused on onboarding new influencers and also partnering with marketing agencies to enable its solution used by actors of existing traditional markets.