Indiegogo announced yesterday that it will venture into the ICO market. This news was received by skepticism from its archrival Kickstarter.
The two crowd funding giants seem not to be Seeing Eye to eye on venturing into the murky waters of ICOs. Or did Kickstarter just want to discredit the move by its rival?
Indiegogo supports ICOs
Indiegogo, the pioneer in crowd funding, expressed that this was a natural move for them. Given their reputation, Indiegogo will attract more and more ICOs and soon become the go-to fundraiser for ICOS.
The team at Indiegogo are very optimistic about this move and aspire to be the desired platform for ICOs globally. They have cited three factors that will make them stand out. These are wide accessibility, robust compliance and curated selection.
Indiegogo is set to launch its first ICO this week. It targets to raise $5 million for a Fan Controlled Football League. This partnership is between Indiegogo and Microventures.
Kickstarter no plans to conduct ICOs
A spokesperson from Kickstarter has emphasized that Kickstarter has no plans to go into the ICO market. Reading from their charter, this move is to keep with what they stand for.
Kickstarter is registered as a Public Benefit Corporation (PBC). It has in the past shied away from profit making ventures, choosing rather to be identified as a social enterprise.
This unprecedented move by Indiegogo will usher in ICOs to the mainstream arena. We are likely to see more crowd funding platforms join the frothy ICO market in the near future though Kickstarter and Indiegogo have contrasting views now.