» » » » » » PITCH ICO REVIEW: OPPORTUNITY TO GET A FUTURE IN THE FUTURE FOR YOU?

PITCH ICO REVIEW: OPPORTUNITY TO GET A FUTURE IN THE FUTURE FOR YOU?

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Pitch aims to allow entrepreneurs to quickly launch token sales and sell some tokens to seasoned business investors. Here’s our review.

What is Pitch Ventures?

Pitch, found online at tokens.pitch.ventures, aims to change the way we hold token sales. The company has created an application that provides startup companies with a new way to gain capital and exposure.
The overall goal is to combine the benefits of a crowdfunding ICO campaign with the exposure of venture capital fundraising. ICOs are a great way for startups to make money – but they don’t often provide exposure to institutional investors or business experts. Traditional venture capital fundraising, meanwhile, has been criticized for its air of exclusivity.
With that in mind, Pitch allows entrepreneurs to launch token sales and sell a portion of tokens via live video pitches to seasoned business experts. The engaged audience of live business experts can actively participate in the chat, leaving their own questions and comments during the pitch. They can then easily buy tokens for any projects that catch their attention.
Overall, Pitch claims its application is “the only place that entrepreneurs and startups can pitch investors live.”

How Does Pitch Work?

Pitch comes in the form of a mobile app. You download the mobile app, then can “pitch” your idea to business experts and entrepreneurs.
The goal is to reduce friction and improve efficiency for all parties involved in the token sale process, including startup companies and entrepreneurs, users, and investors.
Here’s the basic process you can use to interact with the Pitch platform:
  • Entrepreneurs and startups submit information on the project they want to Pitch
  • Investors select which startups they wish to go live with (i.e. which startups they want to have a live chat/pitch with)
  • Audiences watch startups pitch to investors live
  • Audiences and investors can buy tokens from projects during the live pitch
It’s kind of like Shark Tank mixed with Kickstarter and cryptocurrencies. The platform offers increased audience engagement, while at the same time giving entrepreneurs and startups easier access to investors, business experts, and live audiences.
As the Pitch website explains, “It will power the future of token sales for projects of all sizes.”
On the user side of things, users can download the Pitch app, then highlight companies they wish to learn about. The entrepreneur behind the token sale receives a notification that a potential token sale customer wants to speak with the company. At this point, the entrepreneur can go live with the potential investor online immediately. Followers of each user are also notified so that they can tune in.
The beta version of the Pitch Investors Live platform is currently available to download from the iOS app store. some features are unavailable without the use of credits. Today, the app uses non-blockchain, non-ERC20 tokens: they’re very simple, non-blockchain tokens managed by the Pitch web backend in a regular database.

Pitch Features

At launch, Pitch aims to support all of the following features:

Decentralization:

Pitch will eventually migrate to the Ethereum blockchain (the app currently runs on AWS and related services). By the time the token sale begins, users will be able to trade PITCH tokens for certain Pitch features. Tokens will be issued on the Ethereum blockchain. Eventually, all app data will be moved onto InterPlanetary File System (IPFS) so that finding this data does not depend on a central entity. Live video features will also be decentralized as much as possible.

In-App Token Purchase Mechanism:

Entrepreneur and startup token sellers will allocate tokens for sale via their own crowdsale contract. Interested parties can send PITCH tokens to the crowdsale contract address. PITCH tokens are ERC20 tokens.

Rewards for Contributors Who Analyze Token Sales:

Pitch will have a mechanism in place to reward users who provide useful analysis of the token sales offered by entrepreneurs using the platform. The more well-known and respected these experts are, the more attention they will draw to the platform. This will lead to increased quality of projects on the platform.

How Do PITCH Tokens Work?

Pitch will release ERC20 tokens called PITCH under the symbol PITCH. These tokens will be the primary means of purchasing services from the current and future Pitch platform.
Some of the services available for purchase with PITCH tokens include:
  • Entrepreneurs can create pitch summaries to attract the attention of token buyers
  • Entrepreneurs can pitch investors live and sell tokens to the audience as they pitch
  • Entrepreneurs can request experts and investors to review their projects
  • Audience members and potential token sale customers can buy tokens for startup projects in exchange for PITCH
  • Experts and potential token sale customers can buy tokens for startup projects in exchange for PITCH

The PITCH Token Sale

Pitch is creating a fixed supply of 1.618 billion ERC20 PITCH tokens.
The company is offering 20% of the tokens during a crowdsale via 8 rounds, with each round offering the same number of tokens. 40.45 million tokens are available in each round, with a total of 323.6 million available during the entire token sale.
30% of the total token supply is reserved for emission to participating experts and investors. Every year, 20% of the available supply shall be emitted. As the available supply will decrease by 20% each year, the mission shall also decrease by 20%. Awards will be based on multiple factors, including community opinion of performance, frequency of participation, and the user’s following.
5% of the total supply of tokens was sold before the token sale at a $20 million valuation. 20% are reserved for operations (business development, partner incentives, and marketing initiatives), and 25% is reserved for the team, advisors, legal, and bounties.
The PITCH token sale begins in early March, 2018.

Who’s Behind Pitch?

Pitch’s team includes Matthew Lally (Founder and Visionary), an entrepreneur who has been in the tech space since early 2007. He has patented applications in augmented reality cited by Google and others, and he sold his first company as the largest shareholder after 18 months at a dollar value of $13 million. Lally was also an early adopter of bitcoin and other cryptocurrencies, and has created a number of iOS and Android apps and web apps.
Other key members of the team include Jonathan Foltz (Co-Founder and Visionary), who owns an international marketing agency called Digital Age Business that has worked with some of the largest brands in the world.

Pitch Conclusion

Pitch is like a combination of Shark Tank and Kickstarter for blockchain projects. Entrepreneurs can use Pitch to “pitch” ideas to investors via a livestreaming video. All interactions take place via the app. Other users and investors can view your live pitch, then contribute to your token sale as you pitch.
To learn more about Pitch and the upcoming token sale for PITCH tokens, visit online today at tokens.pitch.ventures.
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