Factom2 Jul 2018 11:10
Do any of you read the Discord channel with regards to Factom? You are famous! But not in a good way. The FCT community is highly critical of what they call baseless ‘shilling’ (ramping) from FFWD investors on both LSE and Twitter. For the record I own FCT but no FFWD shares. However, I do think FFWD have some interesting investments. That said the APHRIA disposal surprised me as many on here were saying it could be worth £100M at some point but it was sold for next to nothing compared to those lofty predictions, which has but a dampener on sentiment for you guys I think. But back to Factom, the community suggests that the Series B funding exercise has been put on hold because of the massively bearish market conditions in the crypto/blockchain space…..and it is seriously bearish right now. If they were to raise cash it would be heavily discounted and it might backfire for you if they did because it would probably show the company (Factom Inc) to be valued much lower than you anticipated. In addition, it will dilute FFWD’s VC holding in Factom anyway. The Factom team have failed miserably to progress the protocol so far. Usage of entry credits is non-existent and the NDAs remain NDAs, with no indication of when there will actually be proper contracts. The only things that have been done relate to technical achievements but the marketing and promotion of the milestones reached has been abysmal too. The price of Factoids is currently $9 (it was $70 earlier in the year). At these low prices, the guides and authority node operators – who rely on issued tokens to fund their work – can barely do anything to further the protocol as they are effectively losing money (so where is the incentive?). In addition, there is currently very little liquidity to buy or sell Factoids given that Poloniex and ShaepShift have been offline for months and Binance doesn’t list FCT, leaving just Bittrex.