A year ago, on July 02, 2017, Sanitment (SAN) had its Initial Coin Offering (ICO) and raised $11 million. The successful ICO helped launch the Crypto-tracking platform. Today, it seems that the initial hype and investment is paying off.
What is Santiment?
Most people know Santiment as a platform that tracks ICOs. It is even popularly referred to as the Bloomberg of Crypto. With ICOs growing in popularity, there is certainly a market and a demand for their services.
However, the platform more than just ICO tracking.
For starters, It has a crowd-sourced database where the tracked information is gathered manually. This information is then processed and published on their data feed, which is what they are most known for.
Access to their feed, however, is not free and has a price of 200 SANs which is the equivalent of $100 at current market prices.
Jumping Through Hurdles
Even if an interested individual has the funds to purchase SANs, they aren’t very readily available. It is not listed on any decentralized exchange except for Idex and even there it has nil liquidity. Therefore, those who want to buy the crypto token will need to purchase through a centralized exchange platform.
Even after going through various hoops to purchase sans, the price is not ‘fixed’ per se. Depending on the current market condition, the price could be higher or lower.
What Santiment Means for the Future
ICOs have been steadily gaining new ground and according to reports, have exceeded IPOs in growth. This entails that as time goes on, there will be even more of a need for platforms to track them. Santiment entered the game early and so far has solidified its position as the ‘Bloomberg of cryptocurrencies”
With time, more and more tracking platforms will spring up. As for whether they might be able to compete with Santiment, only time will tell.
Ease of Payment
Perhaps the biggest problem that Santiment faces as of now is the difficulty in paying to use their tracking platform.
For starters, while the price is fixed at 200 sans, the dollar equivalent is not. This would not be as big of an issue if acquiring the SAN wasn’t so difficult. It is unavailable on decentralized markets and even on centralized markets, it isn’t straightforward to purchase.
For now, it can only be traded for USDT and even then prices are placed considerably higher than typical bids which make them very expensive. Perhaps with time, these will be addressed and improved upon.