Today marks a very important day in our company's history as we are pleased to announce that Xord is becoming part of an initiative called BOMBX. The initiative includes companies like Ethos and Binance DEX to name a few.
BOMBX, an ERC-20 token and the world's first deflationary currency was launched six months ago has now grown into a $10 million dollar project, all without spending a single penny on paid marketing. From the first day, Bomb focused on creating a creating a community. Rather than doing an ICO, raising millions of dollars and then building the project, Bomb creators gave the tokens for free and let the market decide its value.
BombX is a blockchain-focused technology incubator that plans to launch new innovative ideas into the world. It introduces the concept of Exclusive Idea Offering as opposed to the more mainstream concept of Initial Coin Offering. The goal of XIO is to reintroduce the more realistic concepts of lean methodology of bringing innovative ideas into the world.
Although, the ICO model has been revolutionary. For the first time in history, the masses had the opportunity to invest in projects but it has a fundamental flaw. The team doing the ICOs get rewarded before the team actually builds the project. This also means that you don't need to have a practical idea to raise investment for your project.
So, how is XIO different than ICO? For one, it aims to fix the rewards system of ICOs and rather than telling the market what your company is worth, XIO will let the market decide how valuable and practical your project is. Innovation does not merely mean that you have to use cutting edge technologies for your new ideas without caring for the user who would actually use it. Market doesn't care how smart you are. And no matter how smart your team is, you cannot be successful if there is no market for your idea. Exclusive Idea Offering is a more practical and efficient way to churn out innovation.
The first step is the exploration of the ideas submitted, the Bomb X team will filter the projects submitted bases on their team, technology, market, and tokenomics.
Projects that pass the first phase start receiving the technical guidance to make their projects successful. They can also take advantage of the Bomb Token community to grow their project. This is where we come in. Xord will help the projects that get accepted into the BOMBX incubator with their development needs. We will be advising them and helping them build their product.
The third and final phase is where the project is launched into the world!
We are super excited to be part of the BOMBX initiative.
Xord will provide consultation and guidance to these start ups to polish their ideas further and keep things smooth. Many ideas are of great worth, but fail to excel at execution. Xord aims to support our community of future blockchain developers. We believe new talent is always more energetic and passionate to achieve goals, right guidance will nourish their efforts.
Read more about BOMBX here.
Also read: Xord Launches Blockchain Vision Paper
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