FINOM is a blockchain holding company building a full-service ecosystem from mining to trading and is planning to incorporate AI into their offering down the road. Around the time of the token offering acquired TabTrader, a mobile app frequently recommended by CoinSheet users, and a couple other holdings described herein.
Unlike traditional ICO’s, which are indented to bring valuable services and protocols to the cryptoeconomy, the FINOM ICO looks like an attempt to simply create a company—which would have meant a VC round with investors under previous market paradigms.
With the TabTrader acquisition FINOM added to their existing holdings, which at time of writing consists of the following:
- Nanopool is a minimalist mining site enabling individuals to join a mining pool to mine Ethereum-based altcoins like ETH, ETC, SC, ZEC XMR and PASC. Hobbiest miners wishing to join the pool can after getting the right gear.
- cryptonit is a digital market where users can deposit fiat or cryptocurrency and perform trading. Thought the site appears to be vaporware it has existing since 2012.
- TabTrader is a mobile cryptocurrency monitoring and alerting app for iOS, which also allows trading on Android. It is a “don’t leave home without it” kind of app for anyone actively trading altcoins or looking for good entry points into the crypto market.
The 68-page whitepaper shows they have a few other holdings as well, but I didn’t take the time to read it as I, as a US citizen, am not an “accredited investor”.
Watching FINOM’s 3-minute introduction video, narrated with a cliche British voice over, if you want a real laugh:
Compared to ICOs like SpankChain, which raised a modest 7M and intends to make the world a better place, FINOM looks to be out to capitalize on the crypto bandwagon. And the
114 tweets on their Twitter account and a two-month long token sale the stench of FINOM reeks like a steamy pile of pug poo.