Although important, a great idea is not the only thing needed for a really successful startup. Thorough planning, proficient execution, and the fluidity of the market play a vital role in the life of a startup. But since so many crypto projects fail, there's definitely a gap in the market for a tool that can facilitate collaboration between cryptocurrency companies and investors. 

That is the reason why we created milestoneBased. 

Why So Many Crypto Projects Fail

Poor execution and faulty vision are among the most popular reasons for failure among crypto startups. They get the money they need, gather a strong team, but ultimately fail to meet the promises made and objectives they’ve set for themselves. Blockchain technology is new, and to implement it right, CEO’s have to find their fit in the market. Many founders tend to focus on raising funds instead of doing the market research and putting their potential users at the center.

Another huge problem that crypto projects struggle to combat is the broken VC model: a lack of VCs' attention to crypto ideas. Startups have big plans for the future but lack the necessary skills such as experience, knowledge, and expertise (which VC’s can provide). In a fledgling industry facing a range of challenges, including talent shortages, barriers to adoption, and regulatory ambiguity, projects need all the support they can get.

Crypto exploded in 2017 and almost instantly hit speed bumps due to the prevalence of scams and fraudulent schemes. Many ICO’s did not offer new or worthwhile ideas but were trying to ride the hype in an attempt to gain the notoriety that famous coins such as Bitcoin and Ethereum have earned. This has shaken the trust of millions of users around the globe who have lost their investments.

However, investors shouldn't let risk alone dissuade them from the industry. No other technology has the potential to change the world the way blockchain can. We (investors, crypto enthusiasts, and users) just need to give them the support they need.

How milestoneBased Can Help Startups Stay Afloat

Fixing the broken VC crypto investment model is crucial for long-term blockchain existence and development. Some projects and leaders are pushing the industry forward. The milestoneBased team is working hard to give them the resources and tools that they so desperately need. We are committed to the industry’s success and are aiming to make mainstream adoption a reality. 

Using the power of blockchain DAO’s and smart contracts, we are on a mission to change post-funding collaboration for early-stage crypto investors to bring VC’s and startups closer. VC’s will bring new expertise and resources to the blockchain space, and founders will gain a deeper understanding into how the industry actually works. 

Our roadmap design tool helps all team members stay updated while keeping existing and potential investors in the loop. This way, investors will have more control over their funds, and startups will be motivated to reach their goals even faster to receive the funds for the next milestone. Investors and startups will use funds more efficiently, and managers can use our platform to track a project's success. milestoneBased provides full transparency on execution so that investors can identify suspicious activity right away. 

The Final Takeaway

Investors are now looking at crypto startups with greater scrutiny instead of simply pouring money into them and waiting for profit. We at milestoneBased believe that enabling transparent and close cooperation between founders and VC’s is a key to industry prosperity. Prosperity that harnesses the full potential of blockchain technology for the greater good.