ICO Analysis: Dream
You are a freelancer, looking for long-term opportunities. You apply for some jobs and even if you are way more qualified than other applicants, the client chooses to go with another one because he or she simply did not have time to go through all these applications. Unfortunately, the project was much more demanding than the client initially envisioned, so this other freelancer could not do all the work alone.
This could be avoided so easily. For instance, the client could get some second opinion from an expert. Perhaps a more detailed job description would have worked as well. Now pretend you are in the client’s place. You have this bright idea, but do not know how to turn it to a reality. You think that perhaps you could hire a freelancer to do the job and so you post it on a freelance site. You hire a freelancer sufficiently capable, but at the end it turns out that only a team of five or ten people could complete the task.
Dream is a freelancing platform, just like Upwork or Fiverr, but on a blockchain and supported by artificial intelligence and machine learning. If you, the client, were using Dream, from the ground up you would be guided by Dream AI and human advisors who would have led you through each step. Because only a very small percentage of freelancer applications is accepted, you would have the chance to work with only the best on Dream.
You would manage your team easily as well on Dream thanks to the management tools and “project history” pages. A project history page contains all information from the very beginning to the end, helping advisors and Dream AI to pick freelancers more suitable for your project’s needs. More importantly, freelancers are now able to obtain more information about your project and can get to know if they would be a good fit while considering your offer.
Although Dream AI provides a matchmaking system between clients and freelancers, this is not the only thing it does. Essentially Dream AI is a “tool” that helps the client in every moment of decision making, based on previous successful projects. It learns from those projects and the involved people’s experiences, so the next time it provides a more accurate roadmap. Thus, every successful project is an experience for Dream AI, making it constantly better. Dream AI is what truly differs Dream from its competitors.
But even if Dream was technologically superior, this would not mean a fast adoption phase. Many freelancers still do not know what Bitcoin or a blockchain is, and they would be reluctant to be paid in some “magic internet money” with high volatility. Long-term contracts would be essentially unsustainable. Even freelancers who are sufficiently familiarity would hesitate to be paid in cryptocurrencies.
Furthermore, the biggest freelancing platforms provide almost perfect services and they have an actual legal presence. Unless cryptocurrencies are widely adopted and become less volatile, it seems hardly possible for any blockchain freelancing platform to compete with these huge companies and get adopted by a relatively large community. Out of all aspects of this projects, the low possibility of adoption should worry any investor the most.
DREAM tokens will be used as utility tokens to buy premium services such as to obtain higher visibility by freelancers and to hire freelancers by clients, and as reward tokens to incentivize members to participate in the network.
Tokens are sold in six pre-sale tiers and one crowdsale. The bonus for the first tier is 40% and each following tier has a lower 5% discount, i.e. 15% bonus for tier six. No lock-up period is made public at the moment for pre-sale tokens, thus some dump on lower tier investors can be expected at a later point.
The total supply of DREAM is 1 billion tokens with the following token distribution:
- 50% token buyers
- 4% rewards program
- 8% founders
- 75% core team
- 8% advisors
- 10% rewards pool
- 45% reserve
Founding team tokens are locked for 12 months and then one-fifth is released every six months. Core team and advisor tokens have no lockup period. 10% of these tokens is released after the sale and then 15% is released every six months.
The team is planning to use the token sale proceeds as in the following manner:
- 20% marketing
- 18% operations
- 50% product
- 12% legal
CEO and co-founder Richard Foster: Foster was a network architect at BP, BNY Mellon, and QBE Insurance.
CFO and co-founder Amy Diez: Diez held several positions at KPMG, a well-known accounting firm, for more than 10 years.
Bertrand Theaud: Theaud is a former managing partner at Winston & Strawn LLP and a partner at DLA Piper. He is a blockchain legal expert.
Adam Dossa: Before becoming the director of technology at Polymath, Dossa worked in several positions at Morgan Stanley for thirteen years.
Below is a breakdown of the risks and growth potential of Dream.
- Blockchain freelancing platforms do not tend to do well. (-1)
- Competition with huge freelancing companies such as Upwork and Fiverr. (-2)
- Adoption, both from and out of the crypto-verse, will be a challenge. (-1.5)
- Dream provides almost all features big freelancing platforms do. (+1.5)
- Not all freelancer applications are accepted, so only the best ones are admitted. This ensures that any work is completed with high quality. (+2)
- Dream AI might turn out to be a revolutionary tool for freelancing platforms. (+3.5)
- Tools provided to manage group projects and “project history” feature are definitely neat and much needed. (+2)
Dream is a blockchain freelancing platform supported by artificial intelligence and machine learning. Although competition with already existing platforms will be hard, the existence of Dream AI is definitely promising for the project and it can make Dream the first blockchain freelancing platform with significant success. Dream receives a 4.5/10.
- Type: ERC20 – Utility
- Symbol: DREAM
- Platform: Ethereum
- Crowdsale: Postponed.
- Minimum Investment: Unspecified.
- Price: $0.05
- Hard Cap: $16,800,000
- Payments Accepted: ETH
- Restricted from Participating: United States, North Korea and China
Featured image courtesy of Shutterstock.