ICO Analysis: Unboxed Network
Companies spent an excess of $5 million for a 30-second spot in last years Super Bowl, which gathered 105 million viewers. Kim Kardashian recently told a story about how, out of respect for her husband, she turned down a $1 million marketing offer. All she had to do was make one Instagram post to her 119 million followers, promoting a knockoff Yeezy brand.
Kim’s sister Kylie uses her 120 million Instagram followers to sell her own products, which has earned her nearly $1 billion. There is clearly a lot of untapped power in influencer marketing, and companies are catching on.
According to the whitepaper, businesses spend $36 billion a year on Facebook ads alone. A lot of that is wasted because they can’t reach their target demos. Unboxed Network (est. 2014) puts these businesses in contact with specific target market micro-influencers that match what they are selling.
“The aim of the Unboxed Network is to offer the simplicity of Facebook Ads combined with the cost efficiency of an influencer marketing campaign, all on a single platform.”
Here’s how it works:
- Any advertiser that wants to launch a campaign puts funds to escrow and provides their goals and influencer criteria (interests, location, gender etc).
- Unboxed takes that info and plugs it into their blockchain oracles backed by AI, to invite the best matching social media influencers to get engaged with the campaign.
- The influencers who get invited to the campaign create some sort of photo or video content that gets reviewed and approved by the blockchain oracles.
- Influencers then post the approved content for the target market to engage with.
- The influencers and oracles are then paid for posting and engaging
Micro influencers are so great for marketing because they are followed by people who trust their opinions. A certain percentage of Kylie’s followers will literally buy anything she puts in front of their faces. Unboxed already have thousands of micro-influencers in their network. And although they don’t have as many followers as Kylie, the followers they do have are real and trusting. Instead of paying one giant celebrity a fat check to run a single ad, brands will use Unboxed system to run their ads through special oracles that use AI to sift through their tens of thousand of micro-influencers to find the best influencers to match their specific campaign. Hitting the target market every time.
NBOX token is based on Ethereum. It is what gives brands access to the platform, and what all micro-influencers are paid in.
Token holders gain exclusive offers from brands and will be able to exchange tokens for branded good and services. They can also use them to access to the platform’s influencer took-kit.
- 51% Crowd sale
- 19% Team, advisors, partners
- 15% Reserve fund for future financing
- 10% Customer and blockchain oracles acquisition
- 5% Airdrop and referral program
Tadas Deksnys – Founder/CEO. Sold first venture at 18 . Build and sold a pet owner marketplace in 2014 before founding Unboxed.
Donatas Smailys – CBDO. Was CEO of a startup incubator backed by the biggest tech university in Lithuania. Member of Digital Leaders group at World Economic Forum. Organizer of TEDxKaunas, public speaker. Executive manager of Lithuanian Startups Association
Dovydas Reinikevičius – CMO. Founder of BeeMarketing, a digital marketing agency that did campaigns for big companies like Mcdonalds.
Vytenis Narušis – CTO. Devbridge Group. Developed software for multinational multi-million revenue, organizations like Chicago Mercantile Exchange, Louis Dreyfus and Morningstar.
The Unboxed Network is the only freemium platform that allows businesses to launch high quality and low-cost word-of-mouth campaigns within seconds. Here are some of their current and past clients.
- Standard Ethereum risks. They do acknowledge this in their whitepaper, though: “Due to the increasing supply and adoption of new Blockchains like EOS, Stellar etc. that could potentially offer the necessary functionalities in a more efficient and/or less expensive way, we may consider using alternative solutions to the Ethereum blockchain in the future.” -1
- It’s very common for online companies, such as this one, that have been around a few years, to do an ICO for their “new decentralized blockchain” business. 99% of them have failed or are currently struggling. -1
- The token use case is pretty weak and doesn’t seem to stable. -1
- The coolest part of their project, the oracles, aren’t even complete or operating at all yet. -3
- Their roadmap is a joke. They already failed to deliver the oracles in early 2018. -2
- Brands “pay 50% less per engagement: no middlemen, no fees, no management required. Increase your return on investment (ROI) on your social media spend.”+2
- According to their whitepaper, they are successfully operating in 10 markets, and already have a strategy in place for global expansion. They have researched and ranked countries based on a wide range of criteria and will be using their information to facilitate growth over the next 3-4 years.+2
- “There are no limits to the number of accounts a company can have or the number of campaigns they want to run. With Unboxed, scope is limitless.”+3
- Influencer marketing is booming because it’s so effective. According to Tomoson, businesses are making $6.50 for every $1 spent.+4
- They have been around since 2014. And have a leg up on the competition. +3
There is no doubting the effectiveness of influencer marketing. Can Unboxed actually create and implement their unique AI-powered oracle solution? Well, that’s the million dollar question. 6/10
- Symbol: NBOX
- Platform: Ethereum
- Total Supply: 750,000,000 (750m)
- Price: $0.057
- Hard cap: 382,500,000 Unboxed Tokens sold
- Soft cap: 38,250,000 Unboxed Tokens sold
- Presale: TBA, sometime Q4
- Public Sale: TBA, sometime Q4
- Website: https://unboxed.network/
- Whitepaper: https://tokens.unboxed.network/static/download/Unboxed-Whitepaper.pdf
- Telegram: https://t.me/unboxedicocommunity
Featured image courtesy of Shutterstock.