This article was first published on ICONOMI - Medium
ICONOMI Financial Report — Q3 2018
With the announcement about the transformation of ICONOMI’s corporate governance and the issuance of the eICN equity token, we have entered a new chapter. This is a a game changer for us and for our supporters, not just when it comes to providing legal clarity, but also for the new business opportunities that will arise as the traditional world moves closer to the crypto world.
Two important aspects stand out from the business point of view: our internal treasury and a focus on B2C. We have announced that Pinta, previously managed by Columbus Capital, will be moved to the treasury. This can be seen in the balance sheet below, where all ICONOMI assets are shown in one table. With this move, we will also be ending the burning process; with the introduction of shares in ICONOMI AG and, later, the establishment of the eICN token, the General Assembly will decide how ICONOMI profits are distributed.
In Q3, our book value decreased from $148.8M to $96.2M, mainly due to falling market prices. We decreased our positions in Byteball, Matchpool, Maecenas, and Ethereum, while we increased our position in ICN and made one investment that will be disclosed in the future.
From Providing Content to Identifying Customer Needs
The path to our focus on B2C was as follows. First, we developed the platform, which meant, of course, that we had to have content — DAA managers and the first round of beta users. We have seen continued success with these aspects of ICONOMI. In Q3, we onboarded 3 new managers from Italy, India, and Brazil, for a total of 37 DAA managers from 21 different countries.
Now we are facing a new challenge: onboarding more users to the platform. Currently, we have 61,627 users; most of them are more knowledgeable about ...
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ICONOMI - Medium