Iconomi (ICN) has been making some big moves in recent months trading well over $5 a token highs and surpassing several million USD in daily trading volume. Currently trading just over the $3 mark or around 0.00080992 BTC Investors are looking for a retrace to previous highs.
The Company raised around $10 million USD in 2016 through a successful ICO of the ICN token which initially traded as low as $0.12 before the meteoric rise to current levels.
Iconomi (ICN) is the world’s first digital assets management platform, building a bridge between the old and the new economy, revolutionising the multibillion-dollar fund management industry, and creating new dimensions in traditional fund management. ICONOMI combines passionate visionaries with new possibilities and offers investors a golden opportunity to get into the crypto world by investing in DAAs managed by experts. ICONOMI’s mission is to give everyone the chance to enter the world of digital assets and make the new economy more open and connected.
ICONOMI had $39 million assets under INCP as of July 1 of this year. ICONOMI has a target of $200 million in assets under management by the end of the year.
ICONOMI was founded by Jani Valjavec Co-founder of Cashila. He is active on the ICONOMI subreddit and CEO Tim Zagar who started working full-time on blockchain projects in 2013 with the goal of connecting the crypto field to the existing banking world. He co-founded Cashila, which serves as the first service operator of the ICONOMI platform.
Currently, ICONOMI has two in-house funds: the Iconomi Index Fund (ICNX) & the Iconomi Performance Fund (ICNP).
Economy Index Fund (ICNX) fund is rebalanced regularly to offset risks and improve chances for growth. ICNX is made up of some of the biggest players in the digital asset/crypto space. This could be compared to the Dow Jones Industrial Average, but for the digital asset market. The ICNX coin will be able to be traded on other exchanges publicly.
Iconomi Performance Fund (ICNP) is an actively managed fund investing primarily in ICOs. The initial investments in this fund have been in Golem, Byteball, and Santiment which was made possible by the seed funding from the Iconomi ICO. ICNP will only be available on the Iconomi platform- not publicly traded on other exchanges. This fund is likely to be more risky, as it invests in the newest digital assets, but the potential for return is also much higher.
Earlier this month ICONOMI partnered with Columbus Capital to manage ICONOMI’s existing DAAs (ICNX and ICNP), renaming them to Columbus Capital Blockchain Index and Columbus Capital Pinta, respectively.
ICONOMI plans to allow crypto investors to launch their own funds in the future that matches their investment objectives (called Digital Assets Array or DAA) in the future.
The ICN tokens represent ownership of the ICONOMI platform, allowing their holders to receive dividends and vote on ICONOMI related issues. The Company has initiated a buyback program whereby the profits generated by ICONOMI will be used to purchase ICN from the open market. At the end of each quarter, all the repurchased tokens are burned, thus decreasing the total supply of ICN tokens in existence. This gives the ICN tokens a significant advantage over time as the total suplly decreases each token will be worth more as they represent a bigger share of the company.
Currently trading at a $290 million market valuation or around 70,383 BTC Iconomi is ranked number 24 by market cap. Investors have been highly bullish on the token as Iconomi is well positioned to attract lots of assets from crypto investors and has the potential to be the Vanguard of cryptocurrency investing offering potentially hundreds of different funds for users to choose from. ICONOMI has become known for its transparent communication with the public, with monthly AMA on their subreddit page, and monthly update and quarterly report on their blog.