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ICO Analysis: BGX

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In 2017, mobile gaming revenue worldwide reached $30 billion and is expected to increase by 15% in 2018. The market is dominated by a small group of companies that care little about their communities while charging developers insanely high fees to use their platform. The space is ripe for evolution through blockchain, smart contracts, and AI.

BGX.ai is a decentralized multifunctional platform for mobile games powered by AI. BGX will have many functions, including:

  1. A distribution system for gaming apps on Android and iOS
  2. Independent processing of fiat and crypto transaction, including support for overdraft.
  3. Virtual player payment wallets
  4. Subsystem for token emission by developers
  5. Support for common monetization models
  6. A powerful engine of artificial intelligence that controls the ongoing transactions and scoring of the players.

The AI component is being developed to fight fraud, provide tournament games, score in the overdraft functions, cluster mobile applications according to user preference, build a compliance model and monitoring applications from the point of view of local legislation (adult content, gambling, etc.) and control the exchange rate of game currencies.

The BGX platform aims to support the entire economy of the mobile games ecosystem. The following segments of the economy could benefit from this emerging technology:

  1. BGX devs
  2. Node runners for off chain transaction validation, and data storage
  3. Holders/investors in BGX TOKENS.
  4. Ad Providers
  5. Game Distributors
  6. App Markets
  7. Game Developers
  8. Players

Mobile game players on the BGX platform will have a virtual wallet system which holds their BGX that will be used for all the games, to earn viewing ads, and to participate in tournaments.

App markets and game developers will pay a 10% commission on their revenue (this is supposedly 1/3rd of what App Store and Play Market charge.

Token

BGX uses two types of tokens: BGX and BGT.

BGX token is an ERC-20 standard that provides access to platform capabilities and supports its economy. Nodes will be required to have a certain amount of BGX to maintain their node status. BGX is also required in order to be in the “Loyalty Club” where 60% of the platform revenue gets distributed to holders based on how much they hold.

 token has a standardized cost and protects gaming applications from the volatility inherent in crypto platforms. According to the company, “It is a white label token, meaning it can be used on its own or a different name by the game or app market developers to use as currency for in-app and app purchases, hosting tournaments, or any other game incentives that allow players to earn from their playing time. All transactions within the platform use BGT Coins, which can be bought at the BGX Exchange using crypto and fiat currency at a rate of $0.10 USD / BGT Coin. Each BGT Coin is generated at the time of purchase. BGT Coins can also be sold back to the Exchange at the same rate. Each BGT Coin is burned at the time of sale.”

Total Supply of 1 billion

Distribution: 50% crowdsale, 25% development/incentive reserve, 20% founders/advisors/team, 5% bounty.

Fund usage: 50% development, 20% legal, 15% strategy/operation, 15% marketing.

Team

A total of three co-founders, seven managers and seven advisers make up the team.

Valery Khvatov (Co-Founder) is the CEO of DigitalXpert and has lots of experience leading a team of software developers. He seems to be the shot caller for BGX

Costa Zakharov (Co-Founder) previously founded a Canadian investment company called KNC.  His only endorsements on LinkedIn come from BGX colleagues.

Igor Mishenev (Co-Founder) is the former director of BELAZ, a heavy-duty haul truck manufacturer with up to ten employees. The BGX page says “Igor has co-founded several successful software companies.” However, his linked in and google search mention nothing about this…

The rest of management, look really average.

The official BGX World Twitter handle has 940 followers, which doesn’t seem like a lot, but they are genuine followers and most BGX  tweets receive 100+ likes and retweets.   The company’s Telegram has over 1,000 members.

Verdict

We have mixed thoughts about this project. It’s a fairly unique idea that will provide tons of value to every part of the mobile gaming community. The whitepaper is solid.  The team is sort of sketchy, and have yet to produce an MVP or even a Github presence. The community seems small, but passionate. They have very few quality partnerships, although it’s really early still.

Risks

  • Google Play on Android and the App Store for iOS are included in the default OS for most phones in the western world. It’s going to be extremely hard for BGX to get their foot in that door. Most Westerners aren’t even aware there are other options -1
  • Competition in crypto gaming is already fierce with over 100 projects on the market. Granted, most of these projects are related to esports, gambling and skins, which leaves space for what BGX wants to bring. However, if one of the big dogs in the gaming platform market decides to install a blockchain and some AI, that will pretty much crush BGX -1
  • If BGX underperforms during the ICO, it will greatly limit their potential. for example, if they don’t hit the hard cap of $50 million there will be no “Highly advanced self-learning neural network for fraud detection, financial transactions, game matching and services, Global sub-ecosystems for games, or Powerful multi-revenue channels for developers.” If they don’t raise $25 million, then the overdraft capabilities, the AI, the exchange module and the off chain processing will all be basic instead of advanced  -1
  • There is no MVP or demo yet, this is simply an idea until they produce. Also, there doesn’t seem to be a Github, despite this project being open sourced. -1.5

Growth Potential

  • It’s estimated that there are nearly 2 billion gamers in the world, and the entire mobile gaming industry will reach $60 billion by 2020. If BGX is able to tap into that, the sky is the limit. +2

  • The whitepaper, as well as this two-token system pictured above, prove the writer is seriously knowledgeable about blockchain. The loyalty club and nodes could bring tremendous value to early investors if this project is successful. +3
  • Partnerships: They list eight partnerships in their whitepaper, but only a couple of those seem to be actual partnership. The rest are just services that they are going to use to help build and market their technology. The strongest partnership is with DigitalXpert, which provides custom software development and IT consulting services with 150+ IT professionals located internationally. The other actual partnership, which BGX will team up with to create the platform, is called Infinity Games ( a relaxing puzzle games publisher from Portugal)… looks pretty weak. +1 

  • Instead of the usual 30% charged by Google Play type app markets, Developers on BGX will only pay 10% of their revenue as a fee. And 60% of that of that fee will get distributed to BGX holders as part of their Loyalty Program. +3

Disposition

This is a competitive space. BGX has no product. They have a well thought out and complicated tech idea, with an unproven team. 4.5/10

Investment Details

  • Presale: April 24 – May 15  https://bgx.ai/
  • Public sale: May 22 – June 19
  • Platform: Ethereum
  • Total Supply: 1 billion
  • Circ Supply: 500 million (unsold tokens will be burned)
  • Price: $0.10
  • Bonus: 30% pre-sale, 25% first 3 days public sale, 15% week 1, 10% week 2
  • Hard Cap: $50 million
  • Soft Cap: $4 million
  • KYC and Whitelist https://ico.bgx.ai/Account/Register
  • Whitepaper: https://bgx.ai/documents/en/BGX_White_Paper_1.0.pdf

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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2 Comments

  1. AlexanderKhvatov

    April 27, 2018 at 6:07 am

    Dear Joshua Larson,

    Thank you very much for your detailed and thoughtful analysis about our project! I just wanted to take the opportunity to address some of the concerns that were raised.

    1) Since the time of this article, our MVP has been released – the BGX Wallet app, currently available for download from Google Play. We also started the GitHub community, as we are planning to be open-sourced. Our Blue Paper will be published by the end of the week – containing the mathematical algorithm that is the core of our value offering.

    2) The gaming market is quite saturated and yes – most solutions focus on the gaming part, not the fintech and the economy, like BGX. However, none of the gaming solutions today or even the big dogs can simply enter this space by installing blockchain. Current blockchain solutions are slow, expensive, and cannot handle the volume of microtransactions from a 2bn player market. Ethereum can only handle 100 tx / sec total and charges ~$4 USD, an unacceptable price for a market where most transactions are less than $10. At the same time, without true decentralization – the big dogs will be prone to purely for-profit thinking, an economic model that is proving itself inferior to decentralized sharing of profits. For that, BGX developed a unique decentralized algorithm, capable of handling up to 100k tx / sec at very low costs and with great security.

    3) Westerners are unaware that there are other options… yet. Just like Uber successfully went up against the line of taxies that are in front of the airport by default, an inferior economic model of an oligopoly in technology is bound to fail. Moreover, in Asia – Google Play isn’t even in the top 10 of the app stores.

    4) While BGX has carefully aligned its goals with the expected amounts raised, as all prudent and honest ICO projects should, even if BGX will not raise enough for full functionality – we will continue to build the business and obtain private funding, which is only for the benefit of existing BGX Token holders.

    As for the team, while they are not all recognisable in the blockchain space (yet), we are proud to say that each one is a specialist in their field and the project is moving along well!

    Once again, I just wanted to address some of the concerns from this article – but we do appreciate the review – thank you!

    All the best,
    Alex

  2. Joshua Larson

    May 8, 2018 at 12:08 am

    Thank you Alex

    Will keep an eye on BGX. I did just download the wallet app. It has a long ways to go, but its good to see you guys are moving in the right direction. Good Luck.

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ICO

ICO Analysis: CWEX

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Investing in fine wine is a very attractive proposition. However, if you don’t know what you’re doing, it’s risky business. When acquiring wine over the internet, collectors have to deal with high fees, counterfeit bottles, border taxation, regulations, and insurance. And then if their bottle arrives in one piece, they have to worry about storing it properly. CWEX is using the skills of the blockchain to help investors cut down, even eliminate, most of these costs.

“We provide fine wine vendors and cryptocurrency owners with the possibility to trade together for the first time in a live market environment on a truly global scale.”

Based on EOS, CWEX is creating a fine wine trading platform, and onboarding trusted partners and vendors. Every rare wine bottle offered for trading is provided with a unique certificate of authenticity issued on the blockchain. This certificate provides a buyer with an “unambiguous identification of his investment.”

Crypto holders that want to invest in wine, can trade it on CWEX platform without ever holding the bottle and worrying about insurance/storage. CWEX will store it for them in their Swiss-based facility. And all they need to trade with is their certificate.

The trading platform is managed by two separate entities; DotChain GmbH and Crypto Wine Exchange (CWEX).

DotChain GmbH (Switzerland) ensures the contractual validity of the fine wine products, trade accountability, and product authenticity.

Crypto Wine Exchange (Hong Kong) is the blockchain based marketplace.

Here’s how it works:

  1. Registered traders place a bid or offer on selected fine wine.
  2. Once offer is matched the trader is notified.
  3. CWEX, in partnership with DotChain GmbH, secures the asset, meets all the compliance requirements and insures your asset.
  4. A blockchain based ownership certificate is transferred to the buyer. it guarantees the bottle’s authenticity and the investment value.
  5. As the certificate owner, you have three options; 1) your ownership certification can be traded on the platform. 2) its held for the price appreciation. or 3) have your wine delivered to your house.

Token

CWEX is the native Crypto Wine Exchange token. It is built on EOS for unmatched TPS, scalability, no fees, multiple wallets, and intuitive smart contract programming.

The main benefit of CWEX token is that it reduces trading fees. The system gives discounts of deductible fees automatically on the condition of having enough CWEX in your account.

Distribution:

  • 62% Crowdsale
  • 12% Community growth
  • 14% Team
  • 3% Bounty
  • 5% Legal
  • 4% Future stakeholder

Allocation

  • 25% Global partner and vendor management
  • 25% CWEX platform development
  • 25% Market compliance management
  • 25% Expansion and operations

Team

From Switzerland, this impressive team has 5 founders.

Jacob Manuel Kallupurackal – Co-Founder/CEO. He has worked for Cisco since 2015 as a Global Training Program Manager.

Maxim Andersen – Co-Founder/Blockchain Expert. 5 years as a Beam Instrumentation Specialist for CERN. Over 2 years as Software Engineer at CISCO.

Thomas Tsang – Co-Founder/Project Manager. 3 years as Remote Participation Analyst for the United Nations Telecommunications Union.

Nadir Zemrani – Co-Founder/Finance Manager. Master of Business from Swiss Management School in 2017.

Stephen Gonah – Co-Founder/Compliance Expert. Spent 14 years in different Officer roles for UNHCR, the UN Refugee Agency.

David Guye – Partner Relations Manager. Huge wine expert.

Their current Advisory Board has 4 members. 3 of them look impressive with experience at JP Morgan, UN Food Program, HSBC, and Schroders.

Verdict

Despite being a risky and challenging investment, if it turns out fine wine, it can be quite profitable. According to wineinvestment.com, “the fine wine market has consistently delivered a positive absolute return over any 5-year return. More importantly, of the total 57 Five-Year periods that we covered (2008-2018), only 9 periods experienced negative returns.”

Risks

  • The token use case isn’t very exciting. It looks like most of its purpose is to save on trading fees. -1
  • The community is small. 300+ Twitter, 100 viewers of their ad video, 4,000 Telegram (bounty chasers). -1
  • 5 co-founders is a lot of chefs in the kitchen. -1

Growth Potential

  • As stated above, wine has consistently delivered positive returns to investors. When traders start making even better returns thanks to CWEX, and word gets out, it will ramp up the entire market. +3
  • On Crypto Wine Exchange, you can trade in CWEX/EOS/BTC/ETH/NEO/USDT. +2
  • The team is high grade. +3
  • There are a lot of wine collectors/investors out there. +2

Disposition

Cool concept. Great looking team. Very possible this project ages like a fine wine. 7/10

Investment Details

  • Symbol: CWEX
  • Platform: EOS
  • Total Supply: 89 million
  • Amount for Sale: 55 million (62%)
  • Price: $0.20
  • Presale: Dec 15 – Jan 9th (20% bonus)
  • Public Sale: Jan 10- March 31
  • Hardcap: $10 million
  • Softcap: $1 million
  • Website:  https://cwinex.io/
  • Telegramhttps://t.me/cwexio

All unsold tokens will be burned

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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ICO

ICO Analysis: MOBU

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There’s a lot of buzz around security token offerings (STOs), and for good reason. There’s an $80 trillion securities market that has barely been touched by blockchain. Uncertainty and discrepancy in regulations have stifled the market up to this point. But it’s just a matter of time before the world is swimming in STOs.

This new project, MOBU, wants to provide a platform for launching compliant security tokens. This platform will “incorporate the ability to select experienced legal counsel across multiple jurisdictions within the platform, token issuers can be sure they can create compliant tokens customed to their local jurisdictions.”

From the whitepaper:

“MOBU is a decentralized blockchain based organized ICO platform for launching compliant security tokens. Real businesses such as property development companies, gold mines, retail companies and many more will be able to launch security tokens on the MOBU platform. MOBU connects approved entrepreneurs and investors by cutting out middlemen.”

Some core features of the platform:

  • MOB20 Protocol that defines a set of commands for security tokens to implement.
  • Supports Reg S, D, and A+ compliant security token offerings.
  • Vetted tender process for: legal providers, smart contract developers, escrow providers, KYC providers, etc.
  • A new standard called, Know Your Supplier (KYS), for complete due diligence compliance for all service providers using the platform.
  • A rating system for service providers which will create a free marketplace for investors.
  • A network of authorization centers for KYC/AML compliance.

This is only a taste of what MOBU plans to offer; check out the whitepaper here for more details.

Token

MOBU is a utility token and is the key to smart contracts and the ecosystem. Found on  pages 15-18 of the whitepaper is all the different purposes of the token, including MOBU Referrals, “where companies or individuals referring ICO issuers onto MOBU will be rewarded in MOBU tokens which will be equivalent of one year’s revenue generated on the platform by the percentage of fees generated from the marketplace.” Additionally, “This amount will be paid in MOBU and locked-up over a 3-year period also ensuring an increase in demand and scarcity of MOBU.”

There is also what’s called a “lockup” utility: All the ICO service providers on the MOBU will stake a certain amount of MOBU tokens to receive the right to operate in the ecosystem. These tokens will be locked up for the full duration while the service provider remains and utilizes the MOBU ecosystem.

Distribution:

Team

Mostly from South Africa, 12 members of the management team are listed. As a whole, they seem good, but not great. Here are a few that stood out.

Juan Engelbrecht – Founder/CEO. Also founded Zaber (a large South Africa crypto farm) in 2015. He spent 2 years as Director at Khalifa Capital. Has been Director at Evolve Fund Managers since 2013.

Paul Pelser – CFO.  He spent 17 years as an accountant for PSP Pelsar Accountants. He has been the owner of Pregal Mining for the last seven years,

Paresh Masani – Blockchain/security engineer. He spent three years as Mobile Platform Exec Director at Goldman Sachs, London. Senior Director at Thomson Reuters and ETX Capital.

A total of 12 Advisors, and two are from Realstart.com, a custom software development company. At least six of them are ICO experts and three are blockchain enthusiasts.

Verdict

This is an extremely attractive project andnd it looks like the hype/demand for this token is there. They already raised $3 million in the pre-sale, and are asking for just $6.5 mill more in the public sale.

Being a front-runner in the cryptocurrency space has proven to be a beautiful thing. When we asked CEO Juan Engelbrecht, who is your nos 1 and 2 competitors, he named Securitize and Polymath. Polymath has a $75 million market cap.

Risks

  • Pretty much crickets in their GitHub. Twelve followers. -1
  • No MVP out yet. They provide this video of what the MVP will look like, though. -1
  •  Non-accredited investors from the US are banned from using the platform. This is the opposite of a risk but gets a minus nonetheless. -1 
  • Their Blockchain Engineer, Paresh Masani (Goldman Sachs and Barclays) is a stud. But the rest of the team and advisors seem pretty average. -1
  • At this point in time, no major exchange is going to list the security tokens birthed from MOBU. When asked about this in Telegram their CEO said, “LA token has a security token exchange division. Also, MOBU is securing equity stake in an operational stock exchange. GBAX and Tzero will also have security token exchanges available soon.” -0.8

Growth Potential

  • They already have a Chrome and Gold mining business signed up to tokenize through MOBU. +2
  • The $9 million hard cap leaves all kinds of room for gains.+3
  • 120 million tokens is all there will ever be; 100% of them will be sold in the ICO. +1
  • MOBU will develop a First Forex Percentage Allocation Money Management Account and will retain 20% of the authorized tokens to put back into the development of the MOBU Platform.+2
  • From the company: “MOBU token will be available on most exchanges such as Bancor but have already been approved by COINEXCHANGE, CRYPTOPIA, IDEX, GET BTC, HitBTC, LIVECOIN and YoBit.net.”+2
  • Although most of these reviewers have lost credibility over the last year, their strong scores prove the hype train around this project is real. +2

Disposition

We usually don’t cover ICOs post-pre-sale, but this one is an exception because it’s still an attractive deal. The pre-sale bonus was 25%, and if you are fortunate enough to get into this crowdsale the bonus will be 20-25% depending on how early you get in. After that, the sky is the limit for MOBU.  7.2/10

Investment Details

Featured image courtesy of Shutterstock

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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ICO

ICO Analysis: MFChain

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MFChain is in essence an entire digital economy with a vision towards creating an infrastructure within the blockchain community which is supportive of all cryptocurrencies. This ecosystem will enable seamless transactions and development to take place and facilitate an entire support network to grow around the future of the MFMainnet.

Beginning with a payments processing and rewards solution, the project will quickly expand with the launch of a variety of cross-chain features including a multi-currency ICO platform, and multi-language smart contract programming within the all encompassing ecosystem. This is ultimately focused on bringing the entire blockchain community of developers, merchants and consumers together in one central and flexible hub.

Empowering Rewards System

One of the major features of the platform which will be implemented initially is the unique rewards system. This will incentivize not only consumers, but also merchants with rebates of up to 1% available for both parties as well as the freedom and flexibility to accept multiple crypto currencies securely. All of which can be done through any Android or iOS powered mobile device which merchants can use as a POS system.

This will be the first of many innovative features to be launched within the ecosystem which will later incorporate attractive benefits for developers, ICO teams, and entrepreneurs alike.

Token

The native token of the platform will be the MFX token. This is an ERC223 token and will be the main token on the platform although the entire principle of the ecosystem is to allow freedom and acceptance of multiple currencies. MFX will be the token which is rebated to both merchants and consumers in the rewards program. This will essentially increase the flow of the token throughout all of the platform processes over time.

There will be a total maximum supply of 521,000,000 MFX tokens with an initial circulating supply of 306,000,000. 57% of the total tokens will be made available during the ICO period. The rest of the tokens will be allocated as follows:

  • Merchant Incentive Program: 15%
  • Developers & Advisors : 8%
  • Airdrops: 1%

A final 19% of tokens will be locked for future developments. These will be released in two blocks at times to be confirmed during Q2 of 2019 and 2020 respectively.

Developer and Advisor tokens will be subject to vesting and periodically released for a period of 12 months following the ICO.

The ERC233 MFX tokens will be converted to MFF tokens upon the mainnet release which is currently scheduled to occur in Q3 of 2019.

Team

Craig Neil (CEO)

He describes himself as a serial entrepreneur and has indeed headed up a variety of projects both in the blockchain sector, and also in finance and advertising. Neil also possesses an extensive engineering background having spent almost 5 years as a full stack engineer at Lenders Direct Capital prior to focusing on his own business endeavors.

Jayson Rellis (President)

Rellis is an ICO investor and strategist with a number of significant roles in other projects, such as his partner position at Komorebi Alliance. Prior to his passion for the blockchain, he headed up regional operations at Verizon Wireless where he was employed for more than a decade. He is also a contributing writer for HackerNoon.

Brian Rankin (VP of Banking Integration)

He has interests as an advisor or director for a number of other projects including SigFig, although his most captivating experience noted within the blockchain sector comes from his time as VP for client services at Ripple where he oversaw a number of banking related developments.

Advisors

The project have a total of five advisors currently on board. These members are covering a number of areas including marketing, PR, and technical matters. Among these is prolific project advisor Bogdan Fiedur, a blockchain expert whose skills are widely employed and who features on the ICOBench list of experts.

Partners

Partnerships are a vital aspect within the MFChain project, given the amount of integration with payment processors and networks which is required. The latest partnership which they have struck is with Zagg Protocol. This is in addition to existing partnerships with:

  • ShapeShift
  • Komorebi Alliance
  • DDEX
  • Chosen Payments
  • Loopring
  • Identity Mind
  • EduHash

These key partnerships ensure a progressive path for the project with more to be developed as the project continues to progress.

Verdict

Below is a breakdown of the risks and growth potential of MFChain.

Risks

  • The strong competition both within and outside the blockchain which exists in a variety of the markets MFChain is targeting is concerning. These include the likes of Dash, UTrust, and Stack. (-0.5)
  • The broad focus of the project into a number of markets may cause them to lose focus and also leaves them vulnerable as a new project in a variety of areas. (-0.5)
  • MFChain’s core team, whilst having diverse experiences, have nothing which stands out as highly suited to running this type of proposed multi-million dollar platform, with the exception of their VPs experience at Ripple. (-1)
  • Full release of the core teams vested tokens will be completed by Q2 of 2019 according to the whitepaper, with full mainnet launch not scheduled until Q3 of 2019. (-2)

Growth Potential

  • The global payments market alone is heading towards a $1 trillion value. This represents a huge market with almost unlimited potential for growth. (+2)
  • Moving toward a blockchain based and cashless society, we would expect to see a big migration toward blockchain based ecosystems such as MFChain. (+2)
  • The broad focus of the project is also positive in the sense of flexibility and scalability. Two very important factors among blockchain based projects. (+2)
  • The project have maintained a strong and steady following throughout all media channels. This is indicative of the potential and positive sentiment which the community feels toward MFChain. (+3)

Disposition

MFChain has harnessed the fundamental principles of blockchain to provide an ecosystem which is both rewarding and flexible throughout. As the community strives to find ways to promote everyday use of cryptocurrencies, the introduction of a system which can perform all of its functions in a cross-platform manner, is an exciting prospect.

Although the project team still have a lot of major steps to complete in order to bring MFChain to market, premium among these being to establish more key partnerships, the market is large enough and increasing constantly in size for them to position themselves strongly within if they can continue the current momentum.

MFChain receives a 5/10.

Investment Details

  • Type: ERC233
  • Symbol: MFX
  • Platform: Ethereum prior to Mainnet (2019 Q3)
  • Crowdsale: October 15th – December 15
  • Minimum Investment: 0.1ETH
  • Price: 1ETH = 8,500 MFX
  • Hard Cap: 33,000ETH or $17,000,000 equivalent
  • Payments Accepted: ETH
  • Restricted from Participating: USA

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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