CoinMetro Introduces “Flash Sales” Strategy for its ICO

CoinMetro Introduces “Flash Sales” Strategy for its ICO

CoinMetro will hold its third flash sale this weekend, ahead of its main token sale which begins on 21st February.

A flash sale is generally any short-term, timed sale – usually 24 hours – which gives access to a limited number of tokens.

In the case of CoinMetro, investors must register before the sale, and will then be provided with a password to access the flash sale on a dedicated webpage which is only shared via Telegram minutes before the sale begins.

Each participant is given a unique address to contribute BTC, BCH, ETC or LTC, and the allocated tokens are distributed on a first come first served basis.

Flash Sales “Maintain Momentum”

Up until now, only a handful of ICOs have held flash sales. But, judging by the success of CoinMetro’s own flash sales strategy, it looks likely that other ICOs may begin to embrace the model as means of ensuring momentum – and enthusiasm – for the project between the pre-sale and main sale periods.

Whilst the project itself requires investors to undertake KYC/AML compliance procedures to able to purchase the tokens, the project’s organisers have indicated that, for their flash sales, “investors can purchase now and complete the necessary KYC when the token is due for release.”

CoinMetro is creating a cryptocurrency exchange that offers crypto-banking services as well as a trading platform. The platform is also hoping to offer exchange-traded crypto funds and act as an ICO launch-pad. The native XCM token will serve as the medium of exchange for all transactions on the platform.

To attract long term investors and discourage speculators, a vesting period applies to all ICO participants. All tokens will be locked up for 90 days, after which a portion of each investor’s allocation will remain locked up for a further 90 days. The message is clear – the company wants investors to hold their tokens.

Ten percent of the 500 million tokens were sold in the pre-sale which ended ahead of schedule. Another 50 million tokens have since been allocated to the flash sales, of which 30 million been sold in the two flash sales which have occurred to date.