WINGS, a decentralized platform to create, crowdfund, join, and manage projects using blockchain and smart contracts, has announced having reached just over $1.7 Million in donations (1700+ BTC).
WINGS combines decentralized decision-making with forecast markets for valuing projects, for filtering out low-quality projects, and for project milestone risk assessment. The platform is accessible via smartphone or IM systems such as Telegram. Projects launched using WINGS function as a decentralized autonomous organization. DAO projects are first vetted and valued by a global community before moving to the crowdfunding stage; project funds are kept in individual smart contract enforced escrows while project backers have the ability to get involved in project governance.
WINGS token-holders who actively forecast are rewarded with a fraction of every funded project, based on their forecasting ability. In return, projects get feedback and market valuation insights prior to conducting their funding campaign, and those giving funds to a project get valuation and risk insights based on the swarm intelligence.
Boris Povod, President of the WINGS Foundation Council, commented: “The $1.7 Million in support we have received so far from the cryptocurrency community and the number of projects which have contacted us to use the systems affirms the need for an objective, intelligent and scientific approach to global crowdfunding and project governance. In 2017 it is our goal to use this funding to accelerate the development of WINGS in order to harness blockchain technology and crowd intelligence powering the next-generation of global project funding and management.”