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ICO Analysis: Matryx by Nanome



Nanome Inc. is a software company that seeks to ultimately democratize science so as to accelerate innovation. The company plans to do this by combining virtual reality and blockchain technologies.

Nanome has developed, tested and brought to market an array of products being used today by premiere pharmaceutical industry companies. Its decentralized collaboration platform, the currently in development Matryx platform, will feature blockchain technology in order to incentivize use and thus collaboration.

The idea behind Nanome Inc. and Matryx is that VR and blockchain have a synergistic future. That’s why they’ve developed the Nanome User Stack, which includes Nano-Pro, CalcFlow, nano-one, Matryx and others.

A former Yahoo Advanced Strategy Groups Members, and Professor of Visual Arts at UC San Diego, Benjamin Bratton is behind many of the ideas fueling Nanome, Inc. The company was spun out from Dr. Bratton’s Design: Geopolitics lab at UC San Diego. He wrote the tome, The Stack: On Software and Sovereignty, and serves as a Nanome advisor.

Instead of focusing on the entire planetary computing stack of the future laid out in Dr. Bratton’s book, Nanome focuses on the nanoscale. The team believes “that all science and engineering is headed toward nanoscale precision.” (Even cryptocurrency mining)

Co-founder of Edge (formerly Airbitz) Scott Morgan shows off the Nanome technology.

There are good reasons the team has launched a token sale, as the collaboration done on Matryx will be fueled by bounties denominated in MTX, the project’s native digital token, and eventually other crypto-tokens and crypto-currencies.

The team is comprised of longtime cryptocurrency enthusiasts, for instance. Paul Puey, Edge (formerly Airbitz) Co-Founder, is an advisor. Nanome will incorporate the Edge wallet into Matryx. The collaboration platform’s use of Edge is designed to increase usability and security. Edge SDK applications on virtual reality platforms “allows for a more streamlined blockchain experience.” Nanome Chief Financial Officer is Scott Morgan, also a Co-Founder of Edge. Why a partnership between leading cryptocurrency wallet and Nanome?

“In an ideal world, users wouldn’t have to remove the VR headset to communicate with a blockchain platform,” said Edgardo Leija, Nanome Co-Founder. “Edge’s integration into VR products is essential to improving our user experiences.”


The token itself is a utility token. The ideal user case is, say, a big pharmaceutical/NIH/University digitizes proteins via X-ray crystallography and publishes that protein as a Matryx platform bounty. A user can find or be assigned a bounty in MTX and design and submit a solution.

Nanome’s VR products are designed to be used by a university researcher in the short term, but the long term vision is to incorporate the crowd – “the target demographic is someone who currently drives Uber for supplemental income.” This is where MTX plays a role.

In the Matryx model, the designer of a winning solution gets compensated immediately at the end of the round in MTX. The pharma company manufactures the drug, puts it through clinical trials, and then brings it to market. The pharmaceutical company and the solution poster share the revenue in MTX.

“Such transaction, compensation and IP logics will be automated through smart contracts and cryptocurrencies,” according to Nanome CEO Steve McCloskey. “The Matryx blockchain then serves as immutable proof of user creations.”

Distribution of Token

The Nanome team placed the Matryx hard sale cap at 26,688 ETH, and the token sale ends November 15. Unsold tokens will be burnt at the end of the sale via smart contract.

The number of tokens available will be approximately 60% of the total supply. Matryx will send unsold tokens, as well as the proportional amount of the withheld allocation to the zero address so as to burn them.

There are six days left in the token sale. The team will be initiating a “self-destruct” of the MTX smart contract code on November 15 or when the hard cap is reached. All 314 million MTX will be minted upon “self-destruct” of the contract.

The Team

The Nanome team, the team behind Matryx, is a formidable one – especially when compared to many of those projects currently leading token sales.

CEO Steve McCloskey, an Alumni of the first UC San Diego Nanoengineering department (and first nanoengineering department at a University in the world), has focused his work at the interface level from design approach on the human interface to digital technology and the biochemical interface of nanomaterials.

At UC San Diego, McCloskey collaborated with the founding Chair of the Nanoengineering Department, Ken Vecchio, to set the foundation for the Nanoengineering Materials Research Center. They developed thermodynamic processing methods for Iron-based Superelastic alloys.

Armed with a B.S. in Nanoengineering, McCloskey enrolled in graduate courses at UC San Diego in Nanoengineering Materials Simulations and Human Interface Design. He foresaw that Virtual Reality and Augmented Reality could propel Nanoengineering forward. He founded Nanome in 2015.

Chief Operating Officer Keita Funakawa is a scientifically-minded artist, who grew up in Tokyo before moving to Honolulu for middle school and high school. He was the lead programmer for his high school robotics team, and led his team to two state championships at the East Oahu VEX robotics competitions. Funakawa received his degree in Quantitative Economics. He entered the VR industry in 2014.

An Edge (formerly Airbitz) co-founder, Scott Morgan is also a Co-Founder and CFO of Matryx. While with Edge, Morgan oversaw the development of the world’s first fully private, Single Sign On solution for blockchain and decentralized applications. This included cutting edge tech so any application could secure client-side encrypted data for users with invisible encryption, automatic backup, password recovery and synchronization across devices owned by the user. Morgan plays a big role in Matryx’s blockchain pursuits due to his background.

Chief Experience Officer Edgardo Leija graduated from UC San Diego with a B.S. in Cognitive Science. He specialized in Human Computer Interaction and minored in Computer Science.

Chief Technology Officer Vincent Brunet is a full-stack Software Engineer who worked at the company ZestMeUp before working with Nanome. While at ZestMeUp he worked as a full stack developer, managing the company’s software development from specification to staging and production. At the University of California, San Diego, he studied computer science and graduated with a 4.0 GPA.


There is no shortage of big name advisors on the Nanome and Matryx team.

Greg Horowitt is a venture capitalist, Innovation Ecosystem Architect, and author. His expertise is in high impact startup investment and mentorship, innovation based economic development, capital formation, policy, strategy, technology transfer and commercialization. He is Co-Founder of a leading innovation think tank, T2 Venture Creation, and has served as a senior executive for Fortune 500 company.

Dr. Benjamin Bratton’s work pertains to philosophy, art, design and computer science. He is a Professor of Visual Arts and Director of the Center for Design and Geopolitics at University of California, San Diego. As well, he is a Professor of Digital Design at the European Graduate School and Visiting Faculty at SCI_Arc (The Southern California Institute of Architecture).

Bratton wrote The Stack: On Software and Sovereignty (MIT Press, 2016). In this 500-page book, he describes a new theory for global computation and algorithmic governance. He proposes that planetary scale computation systems including smart grids, cloud platforms, mobile apps, smart cities, the Internet of Things, automation should be seen “not as so many species evolving on their own, but as forming a coherent whole: an accidental megastructure that is both computational infrastructure on a new governing architecture.”

Paul Puey is the former of Edge (formerly Airbitz). The company is one of the earliest bitcoin companies. Edge is a bitcoin wallet provider and is based in San Diego, California. The startup received $25,000 from the Plug N Play Tech Center, and joined the accelerator program there. Airbitz raised $450,000 from venture capital firm Block26.

Edge’s primary product is its decentralized bitcoin wallet. It enables users to store and transact in bitcoin. An Edge wallet conducted the first ever recorded bitcoin transaction in Cuba. The company invented the use of Bluetooth low energy (BLE) for bitcoin transactions, as well as one-touch 2 factor authentication

David Brin is an American scientist and science fiction author. He has received several awards and penned the novel The Postman, upon which a feature film starring Kevin Costner in 1997. His nonfiction work, The Transparent Society, earned him the Freedom of Speech Award of the American Library Association.

As 2010 fellow of the Institute for Ethics and Emerging Technologies, Brin established the Arthur C. Clarke Center for Human Imagination at UC San Diego. He is an advisor for NASA’s Innovative and Advanced Concepts group, and frequently does futurist consulting for corporations, as well as government agencies.

Brin has spoken and consulted with the Defense Department, CIA, Procter & Gamble, SAP, Google and more. He also serves on the Board of Advisors for the Museum of Science Fiction.

Geoff Odell is a CIO level IT executive. He has 25 years of leadership experience. He led large global teams for Novartis, focusing on IT infrastructure and business facing Application Development spaces. He has had budget accountability for more than $680 million, while leading global organizations, as well as contractors and more than 600 staff.

Ronald Graham is the inventor of Graham’s Number, and is credited by the American Mathematical Society as being “one of the principal architects of the rapid development worldwide discrete mathematics in recent years. His work has covered scheduling theory, computational geometry, Ramsey theory, and quasi-randomness.

At present, Dr. Graham is Chief Scientist at the California Institute for Telecommunications and Information Technology, as well as the Irwin and Joan Jacobs Professor in Computer Science and Engineering at UC San Diego.

Hacked could go on and on here.

Additional advisors include Mark Thiemens (Former dean of Physical Science at UC San Diego); Jurgen Schulze (Prof. of Computer Science at UCSD. 18+ in VR and Computer Graphics); Silvia Mah (Executive Director of Hera-Labs); Daniel Berard (Former Lead Engineer and Accelyrs/Dassault Systemes); Deborah Jude (Communications Officer at Center for Microbiome Innovation at UCSD); John Graham (Lead Engineer of Pacific Research Platform), and Bruna Mori (Director of Engagement of The Center for Design and Geopolitics)


Matryx has developed products being used today in the world’s foremost research and development labs. I also like the fact that they have support from University of California, San Diego, which is one of the premiere universities in the United States. The UC San Diego Skaggs School of Pharmacy will be demoing Nanome’s blockchain-based collaboration platform and consulting on its development.

That includes on blockchain initiatives. They are nearby to the world’s premiere biotechnology firms, who work with the UC, and Nanome continues to tailor their products to serve the industries who need them both.

Nanome on display at Devcon3


The risks of the Matryx project are the same as any ERC20 Standard. This is an extremely uncertain area. In a way, the MTX value is based on the success of certain Ethereum features. But, with that said, the Nanome team has plans of developing their own independent blockchain, and certainly has the skillset to do so. (Sam Hessenauer, a former full stack engineer for General Electric, is a new addition to the team) Most likely for legal reasons, the team stays mum about the listing of their token one exchanges.

Growth Potential

The growth is unlimited. UC San Diego uses Nanome interfaces. The company hopes to see research on the Matryx platform in 1-3 years with Big Pharma companies crowdsourcing their designs to smaller biotech firms and universities in 3-5 years. Hacked saw firsthand documents about partnerships and use-cases that are currently under Non-Disclosure agreements after being contacted by Nanome, Inc. while this review was in the process of being written. The company also discusses the “Uber demographic” adopting the Matryx science collaboration platform in 3-5 years.

International chemicals and plastic company Solvay, which was founded in 1864, uses Nanome for visualizing three-dimensional data in their chemical analysis. And so, Nanome created ‘Nano Pro: Data Science” to allow Solvay scientists to walk through three dimensional data and experience it in a more intuitive manner. Also, Nanome has products on Steam and Oculus VR marketplaces.


Nanome has a formidable team with ten full-time developers.  The company has several products which are currently being used by pharmaceutical companies, which puts them ahead of most companies issuing tokens.

Their technology has been put on display at conferences like Block Con, CoinAgenda, Devcon3 and more. I tried it on at Block Con in Santa Monica and that helped me get the idea behind their VR drug design product Nano-Pro, and calculus product CalcFlow. It was quite mind-expanding going into VR for the first time. Not to mention, doing so in order to work on a molecule at the nanoscale.

8.2 out of 10.

Investment Details

Token: MTX, ERC-2o standard
Sale: now until November 15.
Open Sale: September 16
Supply: Depends on token sale. All unsold tokens will be burned.
ICO price: 1164 MTX = 1 ETH
Accepted payment: ETH, BTC, LTC
Total emission: 52,162,720 MTX
60% – ICO
40% – Other
On sale: 31,297,632 (60 %)

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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5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.

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1 Comment

1 Comment

  1. Mark502

    November 11, 2017 at 11:00 am

    Hi Justin, in your review you say that erc20 is extremely uncertain. I get where you are coming from to a degree but would love to read about all your reasons for saying that, what might replace it etc. either here or in a separate article. Thanks

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ICO Analysis: 0xcert



Up to this point, one of the main features of any cryptocurrency has been fungibility. Fungible means each token is divisible and identical, any token can be exchanged for another of the same type and no one token holds unique data. On Ethereum the standard for fungible tokens is called ERC20. Recently a new standard of non-fungible tokens called ERC-721 was developed. Unlike ERC-20 identical tokens, the non-fungible tokens are unique and carry data.

Crypto Kitties was one of the first ERC-721 tokens and was so popular it clogged up Ethereum. Crypto collectibles are just the very tip of the iceberg when it comes to non-fungible tokens. Real estate info, auto registration, diplomas/certificates, IDs, etc. can all have their own unique information stored into a token.

What non-fungible tokens need now is a protocol for companies to easily build from. 0xcert wants to be that protocol.

0xcert is an open source, permissionless protocol for validating the existence, authenticity and ownership of digital assets on the blockchain, translating one-of-a-kind digital or real-world assets into non-fungible tokens.

According to the company:

“With 0xcert, you can build on top of the non-fungible token standard, employing a complete toolset, development framework, and a set of conventions for various use cases. This results in shorter development time, lower risk and cuts cost associated with developing blockchain solutions. A wide range of decentralized applications and business models can be supported, giving companies the power to fully utilize the potential of blockchain technology.”



The 0xcert ecosystem is made of four different parts:

  1.  0xcert Labs: Will work on the latest innovation in the space of non-fungibility, decentralization and blockchain tech.
  2. 0xcert Protocol Development: 0xcert protocol is an open-source project. The team plans to implement a full DAO for protocol governance, which would completely empower the developer community.
  3. 0xcert Protocol Users: A lot of the team’s energy and resources will go into ensuring adoption of oxcert technology.
  4. Non-Fungible Alliance: A collaboration hub for building real-life applications.


The 0xcert protocol provides a layer of conventions for creating non-fungible tokens from unique assets. These tokens are called Xcerts and are created through a custom minting process. Xcerts are a standardized and certified non-fungible token based on ERC-721 and 0xcert conventions that carries information about a particular unique asset. This mechanism is unique to the 0xcert protocol. The protocol allows for proof of existence, authenticity and ownership of these assets without third-party involvement.

The 0xcert protocol also makes use of a fungible ERC-20 utility token, called ZXC. Xcerts are all unique tokens that carry certain information, whereas ZXC tokens are uniform and are used for various utilities

DApps developed by Oxcert may use the ZXC token as the basic liquid asset for these dapps to operate on the protocol – similar to gas on the Ethereum blockchain. Some other use cases within dapps that may use ZXC include: bidding, granting access, rewards, loyalty programs, staking, etc.


The token distribution is as follows:

  • Crowdsale: 47%
  • Founder/team: 15%
  • Community pool: 12%
  • Reserves: 10%
  • Adviser/legal: 6%
  • Liquidity Pool: 5%
  • Pre ICO: 3%
  • Bounties: 2%

The allocation is provided below:

  • Marketing 15%
  • Development 50%
  • Legal 10%
  • Operation funds 10%
  • foundation fund 10%
  • Setting up the foundation 5%

Percentage of tokens going to contributors in all token sale stages: 50%

Lock-up for Founders: Locked for 6 months then 12.5% and 12.5% every three months.

Lock-up for Team: 20% released at ICO and 15% every three months after ICO.

Lock-up for Advisers: 20% at ICO, 40% in three months, 40% in six months

Lock-up for Reserves: 2 years


The team is well organized/structured so far. There are 20 team members, mostly from Ljubljana, Slovenia. They look very young for the most part.

The 0xcert team’s mission is to empower developers with tools and useful applications of non-fungible tokens. They will also provide a foundation for trustless, certified, non-fungible tokens on the blockchain.

CEO Jure Zih was Director of Marketing from 2013-2016 for Databox, an app that serves as a personal data assistant, helping business users pay attention to what matters. They have 35 employees listed on LinkedIn. After that, he spent six months as an analytics and growth consultant for Doctrina, a pharmacy-related tech business he helped scale to over 50,000 pharmacists.

CTO/Founder Kristijan Sedlak was the CTO at the same place Jure Zih worked, Doctrinca.  Kristijan has been CTO of five different companies since 2006.

COO Mitja Pirc is a professional startup adviser. Previously he was a manager at A.T. Kearney, a huge global management consulting firm in Chicago.

Luka Kacil is the Senior Blockchain Developer. He spent three years as COO for APPMonster.

Eight advisers have been listed so far. They look pretty strong; perhaps the most important is the lead author and developer of ERC-721, William Entriken.


ERC-721 non-fungible contracts have opened the door to all kinds of new innovations in crypto. 0xcert has a great idea for a protocol that extends this standard, making it easy to develop certified and standardized non-fungible tokens with a set of on-chain and off-chain rules, libraries and conventions for digital certificates on blockchain.

“0xcert is dealing with the application layer where developers need to act fast and agile. In order to ensure interoperability among applications in the future, Xcerts follow specific conventions. This will prevent incompatibility on a higher level, which might happen if every NFT issuer deploys their own version of an industry standard. Having this level of standardization built on top of a strong ERC-721 standard prevents high level fragmentation and safeguards long-term sustainability”


  • Kristijan Sedlak has been the CTO of at least five separate companies since 2006. This makes it seem like all he does is start-ups. Will 0xcert just be another company on his list? -1
  • When asked in Telegram, “How will 0xcert be able to scale on ethereum with all the slow transactions and high fees?”The reply was very standard: “the protocol is currently being built on Ethereum, but is blockchain agnostic.” This seems too convenient of an answer. ERC-721 tokens are a completely new idea, so it seems like making them blockchain agnostic will be really really hard to do. -2
  • The team seems pretty weak for such a challenging project. Nothing in their leaders resumes confirm they have what it takes to build this bleeding edge technology. -2
  • They lose half a point for this video. -0.5

Growth Potential

  • Possible use cases include identity, certificates, academic credentials, artwork ownership, deeds, land titles, collectibles, etc. +3
  • The smaller $10 million hard cap leaves so much room for growth. +4
  • They have an Ecosystem Growth Pool. Twelve percent of the entire token supply (community pool) and 10% of funds raised (ecosystem) will go towards the growth of the 0xvcert ecosystem.+2
  • If this protocol is successful, there will be endless dapps using it in the future. +3


Non-fungible tokens on the blockchain is such a revolutionary idea. Its just a matter of time before competition to lead this space heats up. So far it looks like WAX and 0xcert are the two front-runners.  6.5/10

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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4.3 stars on average, based on 22 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 Analysis: Uulala




Uulala offers a payment, remittance and micro-credit solution to the underbanked population in Latin America. The Uulala platform provides individuals in the U.S,, Mexico and Latin America the ability to participate in secure financial transactions, create a credit profile, make money transfers, as well as receive access to entertainment and participate in e-commerce, which they could not access before due to limited banking infrastructure.

The market for remittance is growing due to the situation in the economies of the world, trends in the development of migration processes and the level of unemployment. Total money transfers in the U.S. amounted to $429 billion in 2016.

Latin America and the Caribbeans are the only regions in which the growth of remittances was noted in 2016. According to the assessment, their total amount was $73 billion U.S. dollars (6.9% more than in 2015).

According to the World Bank, the average commission on transactions in the world is 7.45%, and in many remittance corridors apply significantly higher rates, which can reach 15%.

Uulala plans to take advantage of mobile money transfers through thousands of points of deposit of funds and through their Power User program. Their platform will also offer value-added services, such as entertainment products, the ability to replenish the balance of mobile phone, paying invoices abroad, forming a credit profile and cashback.

In addition to this, Uulala has filed a patent for in-house developed dynamic method fragmentation, which involves cryptographic data splitting into unique segments, the use of an error-prone Reed code – Solomon and the algorithm for calculating the checksum.

The company will create and track users credit profile, which will allow opportunities for micro-crediting platform that links creditors and lenders.

Overall, the company plans to offer a set of services in one application through an affordable and easy to use platform.

Competitors’ Market Landscape

The most significant competitors are Stellar, Trinity Network Credit, Monetha and Graft.

Traditional companies involved in remittances include Western Union, Paypal and Moneygram.

The project has a fully working MVP and is planning to release a fully working product after the crowdsale.


The token Metrics are outlined below:

  • Soft Cap: 5m USD
  • Hard Cap: 50m USD
  • Total Supply: 750,000,000 UULA

The token distribution is outlined below:

  • 33% (250,000,000) – private sale participants
  • 33% (250,000,000) to he distributed to public sale participants
  • 10% (75,000,000) reserved by the Company to incentivize community, user adoption and strategic partners.
  • 10% (75,000,000) to be distributed by the company to appropriate founders and early investors at the company’s discretion.
  • 14% (100,000,000) to be distributed by the company to users of the Uulala platform through a referral and rewards program on the platform.

Any unsold tokens in the private sale will go into the public sale.

All unsold tokens from the public sale will stay on the Uulala platform held by the Company for sale only on the platform program

Token sale metrics are provided below:

Private pre-sale

  • 2 million – 2 cents
  • 3 million – 4 cents
  • 5 million – 6 cents
  • Cap – 10 million
  • Token allocation : 250,000,000

Public pre-sale

  • 3,333,333 USD – 8 cents
  • 3,333,333 USD – 10,000,000 USD – 12 cents
  • Cap – 15m
  • Token allocation: 125,000,000

Public sale

  • 5m – 13 cents
  • 2m – 17 cents
  • 18m – 28 cents
  • Cap – 25m
  • Token allocation – 125,000,000

Uulala will use part of the proceeds it received from the commission to buy back tokens the user.


Two executive team members stand out in particular.

Oscar Garcia, CEO

Background – IT, Entrepreneurship

Relevant experience and achievements:

1) SEO Experience in Explore talent – creating online sales channels
2) Created web90x – e-commerce company
3) CEO in Batched – platform for services used by online merchants (mainly processing)

Oscar has relevant experience in programming and business development. It is clear that he has an understanding how to work with merchants and payment processors. Based on his contacts he is creating Uulala. He also has experience running a company, which alone is important.

A major issue is that he does not have experience implementing global projects.

Frank Dicrisi, COO

Background – Statistics

Relevant experience and achievements: COO in Atlantic Pacific Processing Systems, Inc. (payment processor).

Frank has a relevant experience, education and connections.

Alan Alvardo, CTO


Background: IT
Relevant experience and achievements: Ten years experience in IT; especially noteworthy are his jobs at Ktapulta Ventures and Opencap (both companies are involved in financial services in Mexico).


Uulala offers a traditional use of blockchain for payment facilitation. The project is rather ambitious, has a clear business strategy and focus on the LATAM. The team is educated and has the necessary connections with the payment processors, electronic payment providers and merchants.


  • The token use case is supplementary. -0.5
  • There is quite a big difference between private sale price and public sale prices. -1.5
  • Competition is rather fierce in this segment. Finance is the first sector that has been disrupted by lockchain. -1.5
  • Low hype level. It seems they are mainly focused on regional marketing and do not have big brand awareness inside global crypto community. -1
  • The token will be harder to list with the multichain tokens on the exchanges. -1
  • Had cap is rather high for the current market. -1

Growth Factors

  • Idea and business case are clear. +1
  • The company has provided potential sales projections. Judging from the number of users they plan to have, their network can achieve a very high transaction volume and capitalization in the long term. +1
  • A focus on Latam, with relevant connections in the industry can allow Uulala to penetrate market fast. +2
  • MVP is available, and they are planning to launch their app after crowdsale. +3
  • Buyback mechanism is in place. +1
  • The company has managed to secure several relevant partnerships like YipTV (streaming service), Federal Consumers Association (which can bring a lot of users for their platform) and Bitlumens (provides lending options). +2
  • Team is above average, well built and educated with a relevant connection in the industry. +1.5


Uulala has a noble vision of providing financial services in unbanked regions with a focus on LATAM. They have a team with the necessary skills and background as well as partnerships to back them up. However, there are many risks and ROI maybe not doing so well in the short term. After they get many users on board, it could be a good investment in the long term. I would say it is a good investment for people who share their vision and could use their app in the future. Uulala gets 5 of 10.

Investment Details

  • Type: Utility (supplementary token)
  • Symbol: UULA
  • Platform: Multichain
  • Crowdsale: Ongoing
  • Minimum Investment: none
  • Price: 13-28 dollar cents depending on the round
  • Hard Cap: 50m
  • Payments Accepted: USD, BTC, LTC, ETH.
  • Restrictions Barred from Participating: None

General details :

website :

WP :

FB :

Telegram :

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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4.9 stars on average, based on 7 rated postsVladislav Semjonov has a legal and financial background. He has been involved in crypto space since early 2017 in both ICO advising positions in several ICO consultancy firms, and as an ICO analyst for VC. He began contributing for in April 2017.

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ICO Analysis: Peer Mountain



Many blockchain-based projects these days seem to focus on issues like data and identity, as these issues come to the forefront of public attention with widespread scandals like Equifax and Cambridge Analytica.

While these kinds of issues definitely affect consumers, companies are lost in the fray as well.

Regulatory bodies like governments have come down and demanded that corporations practice safe data storage and transmission practices that keep the consumer’s interests in mind. One such example is GDPR.

Solutions like Civic have emerged to give users control over their identities online. Peer Mountain is a project that not only lets users identify themselves online in a secure manner but also allows companies to offer services to users using PMTN tokens while staying compliant with regulation.

This could be huge as not staying regulatory-compliant could lead to huge fines or worse for companies.

The myriad of compliance concerns, such as compliance costs, data protection, onboarding, reliable KYC, real-time risk assessment, and so on is not being addressed sufficiently by current market solutions.

Peer Mountain is aiming to be the one-stop solution for safe, online personal data usage (consumers) and compliant, online provision of services (enterprise).

Peer Mountain Example: Car Rental

To give a concrete example, imagine you’re renting a car.

With Peer Mountain’s services, you can submit car rental forms in a few taps and get digital car keys sent to your Peer Mountain account right away instead of having to stand in a line for hours just to fill out some paperwork and wait even more.

Here’s how that works:

  1. You verify your identity with the services of identity verifiers, such as insurance companies. Your identity verification (e.g. just the confirmation that you are who you say you are vs. your personal details) is then stored safely on Peer Mountain’s decentralized network
  2. The car rental company gets access to your identity verification (confirmation document) but NOT your detailed personal information
  3. Since your identity has already been verified, the rental process is quicker
  4. For the rental agency, they receive verification but not any personal data, which means they don’t have to worry about data regulation concerns


In the Peer Mountain token economy, PMTN is used for the following:

  • Offering services – when an end-user uses a Peer Mountain invitation or service offered by a company, the company pays a small PMTN fee
  • Using an identity verification – when an identity verification supplied by a verifier, such as a bank, is used, the verifier is paid in PMTN by e.g. a company that wants to verify the identity of their consumer

Everyone involved in the Peer Mountain ecosystem can take on the role of a consumer, service provider, or identity verifier. For example, service providers can provide identity verifications as another way to earn revenue.

Of the total PMTN supply (to be determined by Smartcap – red flag), 40% will be sold, 40% will be kept in the treasury, 10% will go to the team, 8% will be held in legal reserve, and 2% will go to the advisors.

Peer Mountain’s token sale has 4 stages:

  1. Presale 1 (priority first)
  2. Presale 2 (priority first) (presale ended March 15th, 2018)
  3. Tier 1 (public)
  4. Tier 2 (public)

peer mountain token sale

Of the proceeds, 40% will go to technological development, 25% to business development, 25% to marketing, and 10% to regulatory and legal costs.

The hard cap, too, is to be determined by Smartcap – red flag.


CEO Jed Grant – Grant was named one of the top 200 European fintech leaders by LATTICE80 and has had a long career in tech, including IT at NATO as well as deep experience in compliance as CEO of, a leader in the compliance world that has been recognized for many relevant awards and honors, such as WealthTech Circle in London, Disrupt.Finance in Zurich, Fintech Fusion in Geneva, Lux Future Lab in Luxembourg, and Europe4Startups.

In terms of advisers, two in particular stand out.

Jeremy Epstein, CEO of Never Stop Marketing – took Sprinklr, a customer experience management platform for businesses, from $20m to $1.8b in four years as CMO

Professor Jorge Sanz – Global Chief Innovation Officer in Banking at IBM


While the idea is great, Peer Mountain suffers from issues, such as a lack of strong team and advisors (relative to other projects), no working product, no disclosed significant partnerships, and a variable total token supply as well as token sale hard cap.


  • Team could be stronger relative to other projects’ teams. (-0.2)
  • Same goes for advisers. (-0.2)
  • No working product. (-0.2)
  • No significant partnerships that have been disclosed. (-0.2)
  • Max PMTN supply and token sale hardcap are variable and not set in stone. (-0.5)
  • Maximum contribution amounts unspecified. Combined with heavy discounts for presale purchasers (30% – Presale 1, 20% – Presale 2), this could be worrisome for those looking to get in on the public sale. (-1)

Growth Potential

  • Potentially huge emerging industry (staying compliant with data regulations). (+4)
  • First mover advantage – Peer Mountain seems to be the only project addressing the issues of personal data protection and data regulatory compliance at the same time. If things go well, they could cement themselves as the market leader quickly. (+3)


Peer Mountain is a promising project with a very strong promise. However, things like lack of a strong team and advisors, no working product, no significant, disclosed partnerships, variable supply and funding cap, and unspecified maximum contribution amounts make it somewhat of a risky investment. Further analysis is recommended for those interested. As a result, Peer Mountain receives a 4.7/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: PMTN
  • Platform: Ethereum
  • Crodsale: TBA
  • Minimum Investment: 1 PMTN (Presale), Unspecified (Public Sale)
  • Price: 1 ETH = 2,917 PMTN
  • Hard Cap: Unspecified
  • Payments Accepted: ETH
  • Restricted from Participating: Unspecified

For More Information:

Peer Mountain Website

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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A part of CCN is Neutral and Unbiased and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)