Forest.io ICO interview

Disclaimer: for the ICO section we have developed a short Q&A with ICO representatives. All answers are presented exactly as offered. The content of the answers is not altered in any way and is the sole responsibility of the ICO representatives. At the end of the interview, you will find a rating that is given by our team, taking into consideration different factors. We consider projects rated above 8 as good projects, however we strongly advise you do your own research, as our website does not contain financial advice.

Name and position of the person responding: Valentina Nikolic (COO – Vice President of Product)
ICO website: https://forest.io/
Whitepaper URL: https://forest.io/pdf/ForestIO_Whitepaper_EN.pdf
Restricted countries: USA & China
Soft cap (USD): 5.000.000
Hard cap (USD): 20.000.000
Token Sale start date: 12/8/2018
Token Sale end date: 1/8/2019

 Describe your ICO project in one paragraph: Forest Foundation is introducing an ecosystem that issues private carbon offset tokens that are backed by real forests.

How is your project different than other ICOs announced recently? Forest Foundation’s mission is to contribute to the health of the Earth by preserving and maintaining forests around the globe. We believe that saving our planet is everyone’s responsibility and the best way to do that is to reduce our carbon footprint through forestation.

Is your token an utility token? What is its utility? FRST is an utility token. Forest Foundation will work towards private implementation of its Proof-of-Forest protocol. Additionally, it will partner with environmental agencies and forest preservation agencies to use FRST tokens for sale or purchase of forests.

Does your ICO currently have partnerships or strategic relationships with other companies or organizations? At the moment, no.

How do you plan to use the funds in developing the project? (Ex. 40% R&D, 20 marketing, 40% pizza)

Purchase of Forests: ​70%
Branding & PR: ​5%
Founding Team: ​15%
Legal Costs: 5%
Bounty Campaigns: ​3%
IT Infrastructure: ​2%

 

As a conclusion, here are TokenCouncil’s ratings:
Project idea: 10
Token utility: 8
Partnerships/real world usage: 5
Overall media buzz: 7
Communication channels and openness: 9
FINAL SCORE 7.8