I spoke with Andrew Chapin from Benjacoin this morning as part of an upcoming interview. It was interesting to hear his thoughts on the ongoing ICO release.
One of the more pressing items of our conversation was a recent press release by Benjacoin announcing that the NFL, as well as their other 27 advertising partners, have committed to using the tokens once the platform is launched. It’s great to see that the company has been successful in their B2B sales. Andrew was also confident that with the guarantees from their partners they would hit their target crowdsale raise over the next few weeks.
Their advertisers include “top-tier vendors and brands including Patagonia, the NFL Shop, and Under Armour, great investors including the VegasTechFund.” They have a great active wear backing and I’m still convinced their model is set for growth.
Some of the biggest lessons they learned during the process were interesting.
First, crypto currency names should be left out and should just be called “tokens.” This is pretty apparent, for years, and even in present times, Bitcoin and the crypto have been associated with immoral ventures such as tax evasion, drug trafficking and hitmen because of the anonymity inherent into the coin. By changing the name, they change the narrative surrounding it. No longer is it an anonymous crypto currency to be used for nefarious purposes, but rather, just a “ticket” to take part in their service. As they say ” Rather than exchanging USD for 1,000 impressions, we explained, you’re exchanging a benjaCoin token. Simple as that.” The ticket then gives access to the positive aspects of their service, namely, full transparency in pricing and same day billing.
Benjacoin makes the process as simple as possible for their clients, making the token as just another piece of their already proven business model.