On June 28, 2022, the development team from the Avoteo SL released a beta version of the Avoteo crowdfunding platform according to the Road Map released at the beginning of the ICO. After a short registration process and connecting your wallet you can use the full range of the platform functions. The first users have already started testing the basic features of Avoteo: they publish commercial proposals, like interesting projects, discuss ideas and offer original solutions. You can find the beta version under www.avoteo.com
According to the founders of the platform, the purpose of the beta version of Avoteo is to build a community and collect feedback to improve the user experience. The full release of Avoteo with the launch of the first round of funding for projects voted by the community is planned for September 2022.
So, we decided to review Avoteo and its unique concept that allows investors to receive passive income for their vote, and start-up projects to finance their ideas. Let’s see how Avoteo works!
Avoteo vs traditional crowdfunding
According to a study conducted by Sascha Kraus, professor at the Free University of Bozen-Bolzano, there are currently three main crowdfunding models:
1. Reward model
An investor donates funds directly to a startup, receiving tangible and intangible rewards in exchange for their investment.
- Advantages: simplicity and a high potential for investment growth
- Disadvantages: high risks and investment insecurity
2. Lending model
The funds come in by individuals who lend money to other people or companies that need money.
- Advantages: investment security
- Disadvantages: low potential for investment growth and complexity of implementation for individuals
3. Equity-based model
Individuals invest money in exchange for shares in a company seeking capital. At any time, shares can be exchanged for fiat money.
- Advantages: ease of investment for individuals
- Disadvantages: high risks associated with low liquidity of shares
Although each of these models allows you to earn money, in reality, such investments turn out to be quite risky, especially when funds are sent directly to a startup. To reduce the risk of such investments and restore confidence in the investment community, Avoteo has created its own crowdfunding model that allows you to have all the benefits while getting rid of the key disadvantages of traditional models.
Avoteo crowdfunding is based on free voting, the mechanism of which allows not to invest in a project until it passes all stages of selection at the community level. Thus, only the most reliable projects will receive funding from Avoteo’s transparent, blockchain-enabled pool.
Vote and earn passive income with Avoteo
Avoteo is a crypto-currency fund and service platform that allows creators to raise funds to implement their ideas through collective funding. The Avoteo’s fund is formed not from non-refundable donations from the community, but from transaction fees generated by trading of the native AVO tokens, which can be used in the same way as any other cryptocurrencies: walk, exchange, profit from distribution, and so on.
Here is how crowdfunding works on Avoteo:
- Project registration
By registering on Avoteo and becoming a holder of native AVO tokens, anyone can create a project and raise funds for filming a movie, developing a computer game, or launching a new product into mass production – in one word, for any creative, educational, social undertaking that may be of interest to others.
Each project on the Avoteo platform has its own web page where entrepreneurs can discuss their ideas and answer questions from interested investors.
- Voting for the project
For a project to receive funding, it must become a leader in community votes. Each holder of the AVO token can take part in voting for projects that are interesting to them.
The role of the user is to review and evaluate the projects presented on the platform and to cast their vote. Each wallet holding 200 AVO is eligible for a limited number of votes. The number of votes and their weight are the same for each holder.
- Project funding
After voting, the results are summed up, and the most popular projects receive funding. To avoid investment scams by startups, Avoteo divides the development process of each project into pre-agreed milestones with quantifiable goals that the startup must meet for investors’ funds to be transferred to its balance sheet.
All transfer transactions in the system are controlled by smart contracts and cannot be initiated by a third party.
- Reward for voting
By voting for the project, the holder can expect to receive rewards if the project grows: Startups determine a community share that they provide in case of a successful funding.
- 25% of the profits are used to buy back AVO tokens from the free market and to distribute them among all AVO holders;
- 15% are distributed among those holders that voted for the “right” winning project.
The voting reward is proportional to the amount of AVO tokens held in an individual investor’s wallet. Since all of the holder’s funds are in the AVO token, even if the startup fails, the holder risks losing only the reward, but not the initial investment amount.
Thus, each purchase of a token is already an investment, and each vote is a direct help to startups on their way to success!
Avoteo skills marketplace
Just ideas are not enough if you want to create a revolutionary product. Often a product needs not only to be invented in thought, but also to be brought to life. When Jeff Bezos founded Amazon.com, he knew it wasn’t enough to just raise money and start an organization. Bezos knew that he needed to create a team of specialists who could bring the concept to life: write the code, think over the marketing campaign and organize logistics.
To make it easier for novice inventors to breathe life into their ideas, along with the crowdfunding platform, Avoteo is creating a skills marketplace where it will be possible to order the services of engineers, developers, designers, advertisers, lawyers and other qualified specialists. The marketplace works on the principle of a labor exchange, connecting employers (founders of startups) and qualified specialists who have no ideas yet, but have in-demand skills.
Here is how the skills marketplace promotes the use of the skills and experience of Avoteo community members to turn ideas into reality
1. Avoteo connects community members with ideas and those with technical knowledge
2. Avoteo Helps Startup Projects Find Qualified Technicians to Bring Their Ideas to Life
3. Avoteo Helps Professionals Find One-Time or Permanent Jobs at Promising Startups
To make the transaction go smoothly, payments on the Avoteo skills marketplace can be made in the native AVO token. In this case, the Avoteo platform will provide escrow services, ensuring that the customer receives a quality service and the contractor receives money. In addition, the skills marketplace will have a voting system that allows you to evaluate the quality of services and help other community members choose the right service.
Do you have an idea for an environmentally friendly CFC-free air conditioning system, but don’t know how to mass-produce the product? Use the Avoteo skills marketplace to find an industrial engineer who has industrial design skills but doesn’t have a million dollar idea. Work together, bring revolutionary concepts to life and make our world a better place with Avoteo! If the community likes the project, Avoteo will definitely finance your idea.
Why do investors need Avoteo?
For investors, Avoteo is a safe and easy way to not only support promising ideas but also make money from them. Here are the benefits for users who vote:
- investors receive a proportional reward for the vote given to a successful project;
- investors can freely exchange their tokens in a range of DEX and CEX.
- up-to-date first-hand information about projects of interest is available on Avoteo;
- Avoteo saves investors from intermediaries, allowing them to communicate directly with authors;
- AVO token holders can take part in the management of the platform through DAO.
Why do startup projects need Avoteo?
For startup projects, Avoteo is an opportunity to attract as many interested investors as possible. Here are the benefits for authors who publish their projects on the Avoteo platform:
- Avoteo gives direct access to a wide audience and allows you not to depend on intermediaries in the production and distribution of creative content;
- for businesses and innovative start-ups, this is an opportunity to test a new product or service without any upfront costs, find out potential demand and decide on a pricing policy;
- Avoteo is a cryptocurrency project that helps users from all over the world support startups without restrictions;
- community feedback and comments help improve the product.
Why do you need Avoteo when you can raise money yourself?
Avoteo creates a convenient infrastructure and effective funding mechanisms that provide the most effective crowdfunding ever.
- Avoteo helps startups reach new audiences. The project’s community is constantly growing;
- Avoteo has a paid project promotion system that allows reaching a larger number of users;
- Avoteo has managers who are ready to provide advice for the authors of the project on emerging issues.
- Thanks to the use of cryptocurrency, Avoteo offers enhanced financing options;
- There is no censorship on Avoteo, so the author can raise money for any project, regardless of its cultural, political, and religious values.
By arranging funding using blockchain and a democracy-oriented crowdfunding model, Avoteo simplifies the interaction for all the participants in the investment market. This increases confidence in the global investment market. After all, trust is what every human relationship is based on. Trust is what any blockchain is based on.
Striving to become the standard for safe crypto investments and creating opportunities for talented ideas, Avoteo creates an atmosphere of trust where it is most needed. Bring creative ideas, and socially significant projects to life and develop your business together with thousands of like-minded people!
Join Avoteo today: sign up at https://avoteo.com, connect a cryptocurrency wallet and use the full range of platform features. The project is actively developing in full accordance with the ICO plan, and in the near future users will see a full launch of the platform. Be the first to benefit from Avoteo!
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