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ICO Analysis: Enjin Coin

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We like when entrenched or existing players in industries see the power of the blockchain and identify their own opportunities within it. This is what we see with Enjin, who launched their online gaming-centric content management system in the same year that Bitcoin was getting off the ground. Enjin therefore gets the benefits of extolling its own virtues before pitching a new idea: millions in monthly revenue across over a quarter-million gaming communities around the globe.

While we have to avoid the fallacious idea that just because an idea worked in fiat sytems it will work even better on a blockchain, it is encouraging to know that the people approaching the project in question are deeply familiar with the subject matter. We lent Rex[] additional points on these grounds, being that their progenitors are established property development professionals and Rex is meant to serve that demographic. In the case of Enjin, they really took some time to find the right tool set for their task: they’re building a Bancor Protocol token, not just any ERC20 token.

The idea of Enjin’s ENJ token is not necessarily a new one. Brock Pierce originally made his real money from a firm that allowed people to sell virtual goods acquired through gaming. What Enjin would like to build is a system wherein players will be able to seamlessly do this, enabling content creators and players to have a much better experience when it comes to the dollars and dimes of gaming. Everyone agrees that game developers and studios should be paid, even subscriptions in the cases where ongoing content and services are in order. What is debatable is whether it should be a zero sum system when it comes to the digital goods and services offered inside of such a platform. It would seem that cryptocurrencies, native to the same way in the same way that massively multiplayer games themselves are, will fit right in to service the need of a solution.

Enjin will develop tools that enable game publishers, game servers, and communities to manage virtual goods and in-game items across multiple platforms. Monetization using Enjin Coin will be a key focus with robust features and toolsets provided. Great benefits will be gained by utilizing a decentralized platform and the supporting frameworks.

Building on Bancor

Enjin says on the token ICO page that they will be using Bancor to issue the tokens, but they don’t mention much in their whitepaper about their thinking here, or how this makes things better. In any case, Bancor is an established way of issuing tokens. It’s one of the purposes of the Bancor protocol, and one of its use-cases.

Nevertheless, having just enough technical grasp of what is going on with Bancor and Enjin, we can deduce that Enjin is using Bancor for its enhanced smart token capabilities. Bancor explains smart tokens, in part, in the following way:

Smart tokens are compatible with the ERC20 standard and can be used by any softwarethat supports this standard, such as Ethereum wallets. However, smart tokens offer additional functionality not available to regular tokens. Each smart token holds a reservebalance in one or more other ERC20 tokens, thereby enabling anyone to exchangebetween itself and any of its reserve token(s). The smart token’s smart contract issuesnew tokens (expanding the supply) to anyone who purchases it with any of its reservetokens, and withdraws tokens from the reserves (contracting supply) for anyone choosingto liquidate the smart token.

Presumably, ENJ, along with BNT and ETH, will act as base currencies for tokens issued within the Enjin platform.

But Who Needs It?

Enjin are good at identifying their market above all others. This harkens back to our earlier assertion that the best blockchain technologies will derive from those who are already familiar with the industries they intend to disrupt. In Enjin’s case, they’ve been able to install themselves as a medium between game publishers and their communities. In many ways, their company, at over 8 years old, has already outlived many of the games people probably first encountered them through.

Their goal is to produce a platform on which developers, community members, and players will be able to freely transact in digital goods and services related to interests they are already engaged in. Their first target market, although obviously they can expand to new games easier through native integrations, is an existing, global community of players already willing to spend money in a similar fashion.

They are entirely serious about this last aspect, with several developer tools built into their roadmap, one of which being a plugin for Unity, which is a popular engine on which modern video games are built.

The Unity C# SDK will allow creation of transaction requests, reading account balances, creation of subscriptions, and querying toplists.

There are a few other developer tools they speak of implementing right away. Making it easy for developers is a primarily important thing in the early phases. However, Enjin will already see some adoption regardless of this because it will be leveraging existing communities and relationships built over many years.

So far, so good. Where the rubber meets the road is in both the economic purposes and design and design of the ENJ token. We must now get to the heart of that.

Enjin Token (ENJ)

The Enjin platform itself can be seen as a sub-Ethereum, although it is technically sub-Bancor, protocol. Within it, an unlimited number of other tokens can be generated by the individual participant games and communities. These tokens can be used in a variety of ways. One important thing that we must determine before deciding on ENJ is whether or not they ever intend to go full ENJ. Meaning, will they always accept alternative payment methods for developers getting into the network? If so, there would also be a dilution of funds by virtue of arbitrage as well as attrition.

The answer to this question is made in part in the following statement:

Enjin Coin features will be integrated across the entire Enjin CMS platform and natively supported by over 250,000 existing gaming websites.

They go on to stress that it will be much cheaper for developers to accept payments through Enjin Coin and while this may be rue, it is not the confidence builder we’re looking for. We need systems that force the issue, or else the tokens are only a maybe sort of proposition. The systems that will yield more valuable tokens for token investors are those which build demand by having utility. Enjin’s token platform, and the many tokens that can be issued upon it, have such utility, but they are not going to allow themselves room to grow their network effect. A simple fix to this is forcing other payment rails off the site, and only competing with new platforms that want to integrate Enjin Coin in addition. This would create a more valuable token for competitive purposes, anyway.

Nevertheless, they do list out a number of interesting and valid use cases for the Enjin Coin:

  • Promotion on Enjin platform, perhaps within games there.
  • Payment gateway with almost no cost for usage.
  • Donation and reward setups for players and customers.
  • Automated payments.

We have confidence that the Enjin team are far more than capable of completing their technical goals. To this end, they have developed a UI concept which they share in their whitepaper:

Distribution

In total, the sale will allow for the creation of 1 billion ENJ tokens. Since this is not a mineable currency, this appears to be all the tokens that will be created. The presale has been ongoing, and during this time a total $4,143,821.96 had already been raised at time of writing. Adding confusion to the issue, their bonus structure works opposite to the normal way, such that:

$2,000,000 USD and over receives a 50% bonus.

We won’t let this distract too much from the core values of the coin, which outweigh the one setback. Additionally, only 20% of the coins are being held back, whereas in many recent ICOs we have seen ratios as high as 50%, which can be problematic in determining an actual price on something.

The Verdict

The crucial part of a tokenized system is missing, but this doesn’t mean it can’t be repaired level. The author’s gripe with the system is simple enough: Enjin Coin will only be an additional payment option in the Enjin platform. But it will be a competitive one, and the decision to force the issue is at the discretion of a company which might benefit from that handsomely.

Risks

  • Without sufficient motivation, which is to say lack of choice in order to participate in the Enjin platform or any of its games, people will still often choose other payment rails even where Enjin would actually work out better for everyone involved. -3
  • Push-back from companies like Steam could add up to a mighty, unforeseen force of competition. -1

Growth Potential

  • We like building this on Bancor, which is steadily gaining momentum in terms of value, as people begin begin to realize its potential and things are built on its protocol. Like Ethereum or anything else, Bancor’s value relies on the tokens beneath it, which in turn will benefit from the stability provided therein. A similar effect is had on Enjin by its own design, and since it comes on board with a quarter-million compatible platforms, we see dollar signs. +3
  • The variety of developer toolkits will likely add up to actual integration, especially if some of the reserved tokens are used to incentivize user demand through bounty campaigns. Such campaigns could focus on getting developers to build on Enjin. We can foresee a company like Enjin being wise enough to do as much. +2.5
  • The cost of platforms continues to goes down, the adoption of games continues to rise. Enjin will be positioned to profit from the nexus of the rise of both gaming and the blockchain. +2
  • As exhaustively noted heretofore, this company knows what it is doing. That it already has a community to leverage money from, which already willingly pays it money through other means, means that it will be able to extract more value via the blockchain, and provide more value as well, since there will be fewer fees yet more possibilities. +2

Disposition

We arrive at a solid 5.5 for this initial coin offering, with room to go either way depending on developments of the actual rollout. This won’t take long to see, since the company backing it will certainly deliver something.

Investment Details

The presale is ongoing. The total coins generated will be 1 billion. Please follow all instructions carefully when reviewing this ICO and do your own additional research before sending money anywhere.

Further investment details are available at https://enjincoin.io/.

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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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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5 Comments

5 Comments

  1. kyenneti

    September 2, 2017 at 2:09 am

    Hi,
    P. H. Madore, How do the ratings work? Does a 5.5 means a buy or not a buy? Is there a range for strong buy/Buy/Buy with caution/Not a Buy? Are you buying these tokens?

  2. claudio_101

    September 2, 2017 at 11:58 am

    Hey,
    Do you have any idea if the ENJIN coin is going to be traded on exchanges? Because I can imagine that not only gamers would want to invest in this ICO. Well what I’m asking is how are non gamers going to profit from this ICO?
    Thx

  3. cryptonoob

    September 6, 2017 at 6:49 pm

    This one looks like a really great idea with a realistic but ambitious roadmap and a team that looks up to the challenge.

    So, what are we missing ? Why does the presale does not sell completely out yet ?

    Is it because there is no first mover advantage (first blood) or no real marketing effort yet ?

  4. jagrmeister

    September 12, 2017 at 9:18 am

    One thing I’m not clear on: is the team putting this together part of Enjin. Are they on Enjin’s payroll and this is an internal operation of the company? They have titles like Founder/CEO but do they also hold a separate title with Enjin (such as Director, Sr. Software Developer), etc. I’m trying to understand how autonomous this team is; and also how tight their relationship with Enjin is. One concern I have is alignment. Small startup teams work their tail off because everything depends on it. Enjin Coin could disappear and no one use it; and the company would be doing just fine w/its current source of revenue. The people involved, if they work for Enjin, could drift off to other parts of that company. Ultimately startups bust their tail off in ways that drive the coin price up; but employees at Enjin (if that’s what this team is) won’t necessarily have the same mentality. (If this is an internal project, and they’re on salary with Enjin, the coin allocation to the team for this project doesn’t seem sensible. Not a deal-breaker but not the same thing as working without comp. for a year or two to build a crypto asset).

  5. jagrmeister

    September 12, 2017 at 9:23 am

    I got a response from Enjin here to my comment/question above. “The Enjin Coin project is getting full time allocation from the founding team. We already have staff in place to handle the Enjin Business. Enjin is a mature service with minimal maintenance required. Of course we’ll continue to release new features, such as Enjin Coin Integrations and other updates to the network. The Enjin business will be hiring more staff to accommodate any possible shortcomings since the founding team are now fully dedicated on the Enjin Coin project roadmap.”

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ICO

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

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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