The ICO Race competition, held in Lugano Switzerland, saw over 20 projects battle it out for the top prize of $600,000 investment in the ICO’s token (at private pre-sale price) and a listing on one of the 3 top crypto exchanges.
Each participating project first had to undergo initial screening by the event’s internal team, before moving on the next stage of the competition. The first 15 selected ICOs were passed straight through to the finals, with the remaining contestants left to fight it out in the semi-finals for the last 5 places.
During the semi-finals each team was required to pay an entry fee of 2.500 CHF, before being pre-selected to continue in the final stage of the race.
Those that made it into the last leg of the race were required to pay an entry fee of 12,000 CHF. In the final stage, each ICO had 10 minutes to pitch their idea to an audience of 500 crypto professionals and a panel of industry experts, including Bitfinex CTO, Paolo Ardoino and Eidoo CEO, Thomas Bertani. The teams were individually judged based on a criteria including,
(1) Solution of the problem (2) Business and Token sale model (3) Token Sale terms and (4) Team, Pitch.
In the end, the final verdict was given.
1st place: Pigzbe A ‘family-friendly’ piggy-wallet powered by Wollo, a swiss-based utility token, that’s designed to make digital payments accessible and comprehensible for children, as well as offer a family remittance service for globally spread families. The project is primarily concerned with educating children on ‘the future of money’.
2nd place: Metalyfe Metalyfe is a blockchain based portal fuelled by its native ‘Lyfe’ token, which allows users to retake ownership of their digital identities and transact virtual currencies safely. The platform also includes a Lyfe coin Wallet, Browser and a ‘Metaworld’ social gaming portal.
The prize for this team included $300,000 investment in their ICO token, as well as a $100,000 discount for ICO engine services
3rd place: Desico Desico is a multifunctional platform driven by the ‘Desi’ token, that includes a built-in exchange and crowdfunding feature to issue and trade security compliant tokens, in a decentralized ecosystem.
This team was awarded $100,000 of investment in their ICO token, as well as $100,000 discount for ICO engine services.