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ICO Analysis: Cardium

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Venture capitalist Anthony Pompliano of Morgan Creek Blockchain Capital is looking to “tokenize the world,” and he recently said that eventually, all assets will be on the blockchain. He might get his wish sooner than he thinks, as evidenced by one of the latest blockchain startups planning an ICO.

Russia-based Cardium basically brings FitBit to the blockchain with a proprietary device dubbed fitness tracker that’s similarly worn on the wrist and is the heart of the project. Cardium, which is designed to tackle the issue of obesity and the chronic diseases it leaves in its wake, like diabetes and cancer, tokenizes daily activity and incentives users with a digital currency as a reward.

It’s a massive ecosystem, one comprised not only of a native digital currency but also a partner gym-fueled mining pool that generates additional tokens that fuel the platform. The reason for gym-mining is to motivate members to participate in high-speed mining activity at participating gyms and while they’re there, exercising and socializing.

The problem Cardium is looking to solve is real, as evidenced by predictions for excess weight and obesity to affect 20% of the global population by 2025. These issues are especially pervasive in but not limited to developing nations. Cardium believes that by incentivizing its members with a reward for physical activity, whether high-intensity or moderate, people will prioritize cardiovascular activity. Cardium is looking to ride the wave of the second generation of wearable devices, one that Cardium believes will work in tandem with the Internet of Things (IoT) technology for autonomous smart devices.

Here are a few of the features of its device:

  • “Tracking the number of steps and calories and setting goals”
  • “Monitoring the effectiveness and quality of sleep”
  • “Heart rate measurement

For every calorie users burn, they receive Cardium tokens.

Token

Cardium (CAD) is an ERC-20 smart-contract fueled token on the Ethereum network. CAD tokens that are generated from mining can be directed toward the partner network, such as gym membership discounts and sports product promotions, for instance. Cardium estimates that by consuming 2,000 KCALs per day, users can earn 2.64 CAD tokens daily based on the number of calories burned. Cardium has placed a ceiling on the lifetime number of tokens at 475,372,000,000 based on expectations to reach 100 million people over a decade. Any unused tokens will be burned.

Source: Cardium White Paper

Team

Cardium’s management team is comprised of four co-founders.

Philipp Klimov is founder and CEO. He boasts experience at leading Russian cybersecurity firm Kaspersky and experience in DDoS prevention, which bolsters the security profile of Cardium.

Alexander Perminov, anothe co-founder, specializes in data analytics.

Co-Founder Roman Chistyakov brings two decades of experience at major Russian corporations to the table, including Accenture, Rosneft and others.

Sergey Chernikov, co-founder and CTO, specializes in “database design, performance and high-load systems.”

Verdict

Cardium makes it difficult to disagree with physical fitness on the blockchain, and the partner network adds another layer of engagement. Investors should bear in mind, however, that the fitness tracker device wasn’t even a twinkle in the eye of its developers a year ago. It was born at the height of the cryptocurrency fever in December 2017.

While that doesn’t undermine the deal, it does increase the risk. Cardium must promote their brand and people must be willing to use their ecosystem. Otherwise, the reward tokens lose their appeal. If their roadmap materializes, this project could be a winner.

Risks

  • Cardium is a new concept that began at year-end 2017. While the startup has a defined roadmap through year-end 2018, it’s unclear if their fitness tracker is in development yet (samples are being tested this month, according to the company’s roadmap). There’s no history of performance or guarantee the market has room for another fitness tracker. -2.5
  • This brings up another risk, which is the possibility that a company like FitBit, that has proven sales, or worse Google or Apple, which similarly boast wearable products, could decide to integrate blockchain technology and issue digital tokens, which would raise the competition stakes significantly. -2

Growth Opportunity

  • Demand for wearable devices is on the rise, as illustrated below. Meanwhile, and while this part is unfortunate, the number of people with an excessive body mass index (BMI) is also increasing. Cardium has figured out a way to capitalize on each of these trends while at the same time improving the health of the global population. +4

Source: Cardium White Paper

  • Even though Cardium hasn’t generated any sales yet, they have a defined path to do so. The company will generate revenue from sales of the fitness tracker, a device by which all physical activity is measured and sent back to a smartphone and later to Cardium. They expect in year one to “attract” 10 million people and generate EBITDA of USD 150 million. +3
  • Innovation. Cardium’s concept of tokenizing daily activities could be brilliant. Consider the former wildly popular US television competition, “The Biggest Loser”. For 17 seasons, overweight contestants were tasked with losing weight by the carrot and stick method including a USD 250,000 prize reserved for one lucky winner. +3.5
  • Cardium is being advised by Moscow-based Conner & Company for the ICO. This relationship provides greater transparency to potential ICO participants and is a plus. +1.5

Disposition

We arrive at a score of 7.5 out of 10 for the Cardium ICO.

Investment Details

  • Token Type: Utility
  • Platform: ERC20/Ethereum
  • Symbol: CAD
  • Public Crowdsale: June 1 to June 30, 2018
  • Number of Tokens to be Issued: 475,372,000,000
  • Price: One CAD = USD 0.25 (Participants who invest more than USD 250 will receive a free fitness tracker device.)
  • Payment Method: Ethereum
  • Jurisdiction Banned: The United States and South Korea

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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4.6 stars on average, based on 69 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




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ICO Analysis: NODVIX

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The existence of censorship on content is a brute fact of the modern world. Although this is arguably justifiable on moral grounds in some cases, often it is used for economic and/or political reasons by governments and corporations and the ordinary people usually have none to very little power on this decision. Several countries such as China, Iran, Saudi Arabia, and Singapore are known for extensive restrictions implemented on Internet usage.

This contradicts with freedom of speech and expression and the NODVIX team provides a broadcasting platform, similar to YouTube but without KYC procedures and governmental interventions, enabling people to reclaim their right to free speech. Instead of appealing to any governmental criterion of content restrictions or bans, NODVIX is self-regulating as people acting as master-nodes restrict or ban content. Still, as what counts as illegal content differs from one jurisdiction to another, it is not clear how any confusion over such definitions would be dissolved.

The platform is designed to be live 24 hours a day and this is incentivized by a reward mechanism. Any profit made by several streams of revenue such as advertisement will be distributed among actors on the platform.

  1. Original content creators or uploaders get 83%.
  2. Supported torrent nodes get 8%. Staking NDVX tokens are a requirement to become a supported torrent node.
  3. Unsupported torrent nodes get 2%. They are not asked to stake NDVX tokens, but they get a lesser cut of one-fourth.
  4. The platform gets the rest, using 5% for marketing and 2% for platform development.

The platform works in the following way: Firstly, a visual media, whether it is a music video, news story or a film, or anything with a frame rate is uploaded to the platform by its creator or uploader. Then advertisers provide appropriate banners which are then checked by torrent nodes. A hash file which contains also wallet addresses where profits will be sent is created and stored by torrent nodes. Ads take their place in content and the content is broadcast to the platform, placed into specialized categories. Then it is available for users to watch whenever they’d like. It should be noted that as torrent nodes play a quite important role, they can choose not to broadcast some content.

Token

The platform’s internal currency, NDVX, is used by an advertiser to pay for advert airtime, by original content creators and uploaders to receive in return for their efforts and by supported torrent nodes to stake. As people who stake their NDVX tokens get a higher percentage of profits than who do not, we can say that there is sufficient holding pressure for the token.

The ICO investor should note that the base price is 8,000 NVX for 1 ETH though this is only for the last twenty days of the ICO. The sale is structured that early birds pay less ETH per token as an investor will get 15,040 NDVX for 1 ETH, almost 90% more tokens for the same cost. It should worry him or her that during the pre-ICO, contributors get 24,000 NDVX per ETH, making the pre-ICO price 200% over the ICO base price. Also, the more ETH one invests in, the more NDVX tokens he or she gets as a bonus. Thus, we can safely say that anyone considering to participate in the token sale should either hurry up or wait until the token hits exchanges.

The total supply of NDVX tokens are yet to be determined, but they will be distributed according to the following.

  1. 75% pre-ICO + ICO
  2. 12% team
  3. 9% reserved
  4. 4% bounty

It is another source of worry that team tokens are locked for 6 months, a shorter period of time than most ICOs. No information on how the team is planning to use the token sale proceeds is made public yet.

Team

Valeriya Okuneva: Okuneva is a content specialist at BAKERS, a marketing and advertising company based in Moscow.

Ryan Raymond: Raymond is a community advisor at PayFair.

Verdict

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

Risks

  • Team members’ LinkedIn pages do not show their previous working experience. (-2)
  • Token metrics do not favor the later ICO investor much. (-2)

Growth Potential

  • A demo for Windows, MAC, and Linux is already available, a rare sight for many ICOs. It can be found at the top of NODVIX’s website. (+4)
  • As supported torrent nodes (master nodes) who get 8% of the profit are required to stake NDVX tokens, there is sufficiently strong holding pressure. (+2.5)

Disposition

Governmental intervention over the content on the Internet gets tighter and tighter every single day. People living in places like China, Iran, Saudi Arabia, and Singapore experience this phenomenon in their day to day lives. In response, the NODVIX team provides a broadcasting platform similar to YouTube where original content creators and uploaders provide visual media and get paid in return. As the platform will be live 24 hours a day, people who will supply and verify the content data are incentivized to do so through a stake-and-reward mechanism. Any supported torrent node will get 8% of the profit, which is a sufficient reason to hold NDVX tokens.

It is a bit hard to evaluate the project’s value in terms of return on investment as team members’ LinkedIn pages contain very little information, yet a working demo already exists and can be found at the top of the main page. It is quite praiseworthy that Windows, Mac, and Linux versions are available. Token metrics do not favor the late ICO investor as the early bird catches not only the worm but also great bonuses. Anyone planning to participate in the sale should hurry or perhaps wait until the token hits the market. NODVIX receives a 2.5/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: NDVX
  • Platform: Ethereum
  • Crowdsale: November 22nd
  • Minimum Investment: 0.01 ETH
  • Price: 0.000125 ETH
  • Hard Cap: 21,000 ETH
  • Payments Accepted: BTC, ETH
  • Restricted from Participating: United States, Singapore, Korea, China.

For More Information

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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ICO Analysis: FidelityHouse

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Many social media companies store and sell their users’ public and private data for financials gains and we all have been a victim of such acts at some point. However, it’s not just our personal data that has monetary value but any content that we produce, too. Think of a blog you have posted on your Facebook page or a blogging platform. The piece contains information and thus has value to anyone seeking such information, yet, unless you’re a professional content creator, you probably haven’t made even a single cent out of it. Some would argue that this is hardly fair.

FidelityHouse is a social content network which enables content creators to publish and get paid in return and readers to be selectively updated on their own interests. But that is not the most innovative feature of the network. Thanks to FidelityHouse Chain, any content creators can prove that he or she is the original creator of the content with reasonable fees, thus proposing a solution for one of the most important problems in the intellectual property industry.

Contrary to many blockchain projects which have only started development recently, without any working product at all, FidelityHouse is a project born in 2011 with a team continuously working on it since then. It has 63 million page views, 400 million impressions, 20 million unique visitors and 10 million videos viewed per month only in Italy. An extremely successful product which is live for seven years now hits the cryptocurrency scene to gain ground with additional features thanks to blockchain technology.

This use of blockchain allows the team to develop a fairer and more transparent content lifecycle management system, making it possible for content creators to prove the ownership of the content. FidelityHouse Chain has three components, all contributing to this very purpose. The proof of authorship tracks the existence of authenticity of any product, the proof of license proves the veracity of licenses granted by content creators to other parties and the proof of revenue documents any value generated from content.

The proof of authorship is arguably the most important component of the chain. When content is submitted, its hash value, a data which uniquely identifies it, and timestamp, containing the time of submission, is recorded onto the blockchain. As any change in the content, no matter how small it is, affects both values, the earliest content is proved to be the original one, thus proving the author of this content to be its original author. Still, as it is always possible to make “small” changes while keeping the rest intact. To protect authors and their products, a plagiarism detection mechanism is in place, which is available for a reasonable fee.

Yet not every submitted content gets published on the FidelityHouse platform. Step by step, any submission follows this model.

  1. Firstly, an author submits his or her content to the platform.
  2. Two expert moderators evaluate it and decide if it is to be published or to be revised.
  3. The content’s originality is verified by the platform’s plagiarism detection mechanism and its ownership is handed to the author.
  4. The platform gets paid for advertisements.
  5. Now the content is ready, it is open to platform users and external visitors.
  6. The revenue obtained is distributed among the content creator and moderators.
  7. These FIH tokens can be used in return for platform services or sent to exchanges.

Token

FIH tokens are used to gain access to the platform services and to reward moderators. These platform services include but aren’t restricted to timestamping and plagiarism monitoring. The content creator can purchase any single service or subscribe to a package fitting his or her needs. Any action taking place in the platform is paid or received by FIH tokens, so the content creator should have FIH tokens to benefit from platform services.

In the first stage of the sale taking place between September 1st and October 30th, a bonus equal to or over 32% is offered to private sale investors. In the following stage, the pre-sale contributors will have a chance to gain 27% bonus between October 31st and January 7th. As there is plenty of time until the pre-sale ends, the investor has no reason to hurry. Any unsold token will be burned.

The initial total supply of FIH is 1,000,000,000 tokens with the following token distribution:

  1. 50% private, pre-sale and ICO
  2. 15% founders
  3. 6.4% referral sales
  4. 6% advisors
  5. 9% team
  6. 13.6% reserve funds

All tokens except ICO tokens and reserve funds are locked for 9 to 12 months, which means there will be a very limited supply of FIH tokens in the short term.

How the team planning to use the token sale proceeds is not made public as of the time of writing.

Team

Alessandro Bellato: Bellato has worked for NEST, an information technology and services company, for over twelve years.

Filippo Marcassoli: Marcassoli was a marketing specialist at Roche Diagnostics, a healthcare company based in Basel.

Luca Del Torchio: Before joining Safilo, an eyewear company, Del Torchio has worked as a consultant at Deloitte and PricewaterhouseCoopers.

Vittorio Ferrari: Ferrari, a former marketing director at Bonduelle, has worked for Olivetti and Kodak.

Advisors

Alvise Saccomani: Saccomani is the head of trading at BANOR, an Italian investment firm.

Sebastiano Cappa: Cappa is a member of the board of directors at IAB Europe. Previously he was the head of the Italian branch at SmartFocus, a computer software company based in London.

Verdict

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

Risks

  • Bonuses provided to private sale and pre-sale contributors are a bit high. (-1.5)
  • The token appeals to a very niche audience, namely FidelityHouse platform users. (-1.5)

Growth Potential

  • The project is live since 2011 and has gained serious community interest: 63 million page views, 400 million impressions, 200 million unique visitors and 10 million videos viewed per month in Italy. (+3.5)
  • The platform is able to support any content through its lifecycle while enabling the content creator to monetize his or her efforts. Hashing and timestamping is sufficient to prove any content’s original ownership. (+2.5)
  • There is not much competition for similar projects within the blockchain sphere. (+1)

Disposition

In many content sharing platforms, their respective creators do not get paid and it is the platform owners who actually make money. FidelityHouse enables these content creators to monetize their efforts and to prove that they are the original creators of the content. Although this is a quite important problem in the digital intellectual properties industry and the use of blockchain almost perfectly fits the goal, surprisingly there is not much competition. The project has been around since 2011 and already has seen great interest, thus an audience already exists. Still, bonuses provided to private sale and pre-sale investors are a bit high, so the ICO investor should be wary. Also, the token’s usage is restricted to the platform and thus a very niche audience, which means that if the project does not attract content creators, low demand for the token can be expected. FidelityHouse receives a 4/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: FIH
  • Platform: Ethereum
  • Crowdsale: January 8th
  • Minimum Investment: Unspecified
  • Price: 0.0002 ETH
  • Hard Cap: 100,000 ETH
  • Payments Accepted: Ethereum
  • Restricted from Participating: the United States and China

For More Information

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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ICO Analysis: Brain Space

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As we spend more and more time on the Internet, we become more “digital” and unsurprisingly, our everyday practices keep changing. Yet, change isn’t always so simple, especially when it comes down to intellectual property. Constantly using the Internet and creating new, original content whose rights we are entitled to, creates controversies as the intellectual property market faces several crucial problems such as in the following:

  • It is hard to establish connections between businesses and intellectual property owners.
  • There is no high-quality sustainable system dedicated to intellectual property.

But no more says the Brain Space team whose primary goals are to create an infrastructure to solve problems in the industry and to provide frictionless access for authors to the international stage. The latter is especially crucial for the market and should be underlined because if it is hard, inaccessible and inconvenient for an author to register and record his or her products, a healthy market’s occurrence is hardly conceivable.

Yet this is proven to be hard in the actual intellectual properties market as “a huge increase in capitalization, the issue of infringement of the author’s rights and the misuse of someone else’s intellectual property is acute”. The author has every reason and right to demand that his or her rights are protected and his or her products are used in accordance with legal frameworks. This brings the need for a platform where copyrights, patents or other intellectual properties are registered and protected rightfully.

Creating a safe and fast platform to store all this data is not an easy task obviously, yet Brain Space has proven how serious they are by building their own data center for this purpose to support the network of nodes. It is planned to have a capacity of 5 Petabytes (5,000 Terabytes or 5,000,000 Gigabytes), 3,000 KW of energy and 500 server racks each with a 40 Gbit per second Internet connection.

Token

IMP tokens are used as universal payment tools in the platform. The private-sale price per IMT token is $0.01, the pre-sale price $0.03 and the ICO price is $0.08. As any ICO investors will have to pay eight times of private sale contributors for the same number of tokens, token metrics do not seem favorable for him or her. Any crypto-investor who has taken a likening in the project might be better off if he or she waits until the token hits the market where probably he or she could buy it cheaper than the ICO price.

The initial total supply of IMP is 2,700,000,000 tokens with the following token distribution:

  1. 10% private sale
  2. 26% token sale
  3. 5% bounty, bonus, marketing
  4. 2% further attraction in the project
  5. 17% pre-sale
  6. 15% team
  7. 25% maintaining the platform project

The team is planning to use the token sale proceeds as follows.

  1. 28% data center
  2. 1% ICO expenses
  3. 15% listing, marketing, and business development
  4. 7% team
  5. 2% attraction of users
  6. 2% legal and financial services
  7. 8% expansion, operations
  8. 2% legal status and licenses
  9. 15% backup
  10. 5% technical development
  11. 14% specialists
  12. 1% community events

Team

Ivan Shikhalev: Shikhalev was a software engineer at Tenzor Company.

Denis Dimitriev: Dimitriev has worked as a financial analyst at TeleTrade Russia.

Verdict

Below is a breakdown of the risks and growth potential of Brain Space.

Risks

  • As the ICO price is eight times of the private sale price, any ICO investor will have to pay eight times more than a private sale contributor for the same number of IMP tokens which does not sound like a healthy investment at all. It might be reasonable to wait until the token hits the market and hope it opens at a lower price if you are interested in the project. (-2)

Growth Potential

  • The team is planning to have its own data center, which means that the team is aiming to provide sufficient speed and security for the platform in addition to any other nodes run by others. (+2)
  • Blockchains’ immutable permanent nature is a perfect fit for intellectual property platforms. (+2)

Disposition

The intellectual rights market suffers from several problems such as the absence of a high-quality sustainable platform, the infringement of authors’ rights and the misuse of the authors’ rights as well as products. Blockchain technology, thanks to its immutable, permanent nature, has a high chance to solve this problem and Brain Space is such a platform aiming at these issues. Although one might be worried about the platform’s security, speed, and scalability, the team is planning to build its own high-capacity data center to support network needs. Still, from an ICO investor’s perspective, we cannot say token metrics are favorable as the private sale contributors had the chance to buy IMP tokens with a price of $0.01 while the ICO price is $0.08. As of the time of writing, there are still two months until the ICO, so the ICO investor should strongly weigh the project’s pros and cons before making any investment and likely consider buying tokens after they hit the market. Brain Space receives a 2/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: IMP
  • Platform: Ethereum
  • Crowdsale: January 14th
  • Minimum Investment: $100
  • Price: $0.08
  • Hard Cap: $73,630,000
  • Payments Accepted: Bitcoin, Ethereum
  • Restricted from Participating: United States, China, and North Korea

For More Information

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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