|Industry:||Financial Product / Crypto Fund|
|Headquarters:||British Virgin Islands|
|ICO Timeframe:||01/02/18 – 02/16/18|
|Token Supply:||4,000,000 ALB (98% Crowdsale)|
AlchemyByte is a token issued by AlchemyByte Inc., an International Business Company incorporated in the British Virgin Islands. AlchemyByte is essentially an alloy or mixture of other coins, tokens and crypto related assets (hence the name “Alchemy”) in exactly the same sense that historical coins were alloys of predominantly gold, silver, tin, nickel and copper. The value of such coins being determined by reference to the constituent metals in the alloy and their relative proportions. By combining many of the extant cryptocurrencies into a single cryptocurrency, holders and users gain exposure to the price increases of the cryptocurrencies being held and in a far more diversified way than by holding just several of the many available cryptocurrencies directly in their own wallets. A coin or token specific price collapse (or worse) will only impact AlchemyByte to the extent that the Master Trust has exposure to the particular asset declining in price. Where value is shifting from one of the majors, for example BTC, to another, say XRP, because of some news flow or sentiment change that would largely result in zero sum game to the AlchemyByte Master Trust as it will be holding both. AlchemyByte seeks then to act in the cryptocurrency space in essentially the same way that a Managed Mutual Fund acts in the stocks space.
PROS: Easy investment for those who do not have time to actively manage a portfolio of crypto-assets, yet still want to be in the space, addresses needs, fears and pain-points of crypto-newbies who might not want to dive in with both feet, just yet.
CONS: Very early in development (lacks the back-end to truly support a blended coin portfolio on a large scale), 80% of proceeds from ICO will go straight to development, brief high-level whitepaper that equates to give us this crypto-currency of value (ie waves or ether) and we will give you one of completely unestablished value and userbase in return.