I don't get one thing. Will they create own exchange just to launch own IEO or they are going to continue listing other altcoins for trading? What is their primary goal- exchange or smart city?
According to the statements of the team members, they plan to create a full-fledged cryptocurrency exchange. Other coins should be traded on it, not just the project coin.
If the number of users on your new stock exchange is zero, no money can be earned on it. First you need to declare its opening, inform users about what conditions you provide, what cryptocurrency will be bargaining on it. And it is very expensive and not easy.