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ICO Analysis: UnikoinGold

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UnikoinGold is offering a decentralized eSports betting and utility token that is powered by the Ethereum blockchain.

UnikoinGold opened its crowdsale to the public on September 23rd. The Mark Cuban-backed eSports betting token is backed by VCs with founders with veteran tech backgrounds.

The Unikoin Gold presale closed the day before it’s public crowdsale with $21 million raised from Mark Cuban, Blockchain Capital, Pantera Capital, CoinCircle, and more.

Unikrn aims to build a seamless and secure wagering platform around the rapidly growing community of esports users. The white paper states: “We aim for UnikoinGold to become a standard token for the esports and gaming ecosystem, an ecosystem backed by Unikrn – a company that holds integrity and complying with legislation in high regard.” UnikoinGold will be accessible around the globe and helps users earn money, prizes, hardware, and exclusive features.

Unikrn intends to expand beyond Australia and the UK for Unikoin betting. The team assumes that upgrading to an Ethereum-based utility token will increase utility and usage for its users.

UnikoinGold is currently targeting $100 million in its token sale.

Team

Unikoin is owned by Unikrn’s wholly-owned subsidiary Unikrn Bermuda Ltd.

There are a few meaty points concerning the team around UnikoinGold, so let’s jump in.

An important distinction to make about UnikoinGold is that unlike the many token sales launched by inexperienced startups with no existing product and vague concept of future revenue, Unikrn is already a leader in its respective industry of eSports. It has already seen significant user growth and product adoption.

Unikrn, established in November 2014, is currently the only eSports bookmaker that is fully regulated and licensed. It also has ties to Tabcorp, Australia’s largest betting company.

Unikrn’s CEO is Rahul Sood, who created the first incubation fund for startups at Microsoft prior to Unikrn, and also launched Microsoft ventures. Sood’s experience as a serial entrepreneur span 18 years, including luxury and gaming computer manufacturer Voodoo (acquired by Hewlett-Packard). Sood has a substantial background in entertainment and video gaming, and currently is on the board of one of the largest gaming companies in the world, Razer. He is also an active advisor and early investor in Vrvana, a Montreal-based leading Mixed Reality hardware company.

The rest of the Unikoin team is stacked with accomplished members taking on roles in marketing, tech advisory, and legal. The team largely consists of people with deep experiences in startups, cryptocurrency, marketing, accounting, growth, betting, and growth.

It’s important to note the type of investors who have already invested into UniKoin.

In 2015, Unikrn raised $10 million dollars in venture capital from a seasoned panel of investors including Mark Cuban, Ashton Kutcher, Guy O’Seary, Shari Redstone, Elisabeth Murdoch, Tabcorp, Indicator ventures, and Hyperspeed ventures. Many of these investors including Mark Cuban joined in on the Unikoin ICO, putting together $21 million for the ICO before the public crowdsale.

Unikrn’s board of advisers include Anthony Di lorio, one of the co-founders of Ethereum and JAXX Wallet CEO Anthony Di lorio.

Unikrn also partnered with CoinCircle, a company that provides end-to-end token solution, to help design, engineer, and sell the UnikoinGold token.

The Opportunity

In order to better understand some of the potential of UnikoinGold and other eSports cryptocurrencies, we have to look at the eSports industry at large.

The eSports economy is expected to grow to $696 million in 2017, with year-on-year growth of 41.3%. Brands are estimated to spend a total of $517 million, broken down in the following order:

  • $155 million on advertising
  • $266 million on sponsorship
  • $95 million on media rights

Additionally, consumers are expected to spend about $64 million on tickets and merchandise in 2017. $116 million has also been invested into the eSports world by game publishers via partnership deals.

Brand investment is also expected to double by 2020, which would value the total market at $1.5 billion.

It’s important to note that the above value of the industry doesn’t even reflect the betting market around eSports. Traditional sports markets don’t include betting or sponsorship from betting companies since the two industries are separate from one another. Sports betting is largely a much bigger business than that of sports media rights, consumer revenues, and sports media rights put together. For example, NFL, the most commercial league in the world, generated around $13 billion in 2016, but the surrounding fantasy leagues and betting made upwards of $50 billion.

Betting in eSports is one of the most talked about topics in the real-money gaming world. Betting companies see eSports as an enormous opportunity due to the massive and rapidly growing user base and a much larger variety of potential games to bet on. There are even claims that the eSports betting market could be bigger than the current eSports economy itself.

The global eSports audience is expected to hit 385 million in 2017 with about an even split of viewers (191 million enthusiasts, 194 million occasional viewers). Enthusiasts are expected to grow to 286 million by 2020.

The Catch

Initially, the Unikrn site only allowed fans in the UK, Ireland, and Australia to make bets as high as $250. Unikrn wasn’t able to function in the United States because this type of online gambling isn’t legal. To move around this, Unikrn introduced a virtual currency specific to Unikrn called “Unikoins”.

Unikoins could be used to enter raffles and win prizes such as gaming PCs and other items. However, they couldn’t be redeemed for money.

Unikrn aims to use UnikoinGold to not only allow users to place bets, but to help its users host tournaments and have access to premium features.

The goal of UnikoinGold is to help Unikrn’s users to legally and fully engage in the live betting aspects of its platform via cryptocurrency.

The benefits of being a holder of UnikoinGold are, in my humble opinion, extremely limited. Some of the most notable features are:

  1. The opportunity to purchase additional raffle tickets for prizes using UnikoinGold
  2. The opportunity to bet on skill and spectator eSport products.

Chances are if you’re not into eSports, eSports betting, or have never used the Unikrn platform, you read that last part and thought “Ok…so what?” That’s exactly the point that I’m trying to make. What use case does Unikoin Gold have other than being on the Unikrn platform?

Distribution:

The ICO price is around $.50 cents based on their ICO cap rate of $100m. Only 20% of the 1 billion total tokens being offered in the ICO.

The current token distribution is as follows:

  • 5% Unikrn Betting Reserve
  • 10% Team Pool Token Distribution
  • 25% Marketing & Partnerships
  • 20% Token Sale
  • 10% Development & Contractors
  • 20% Company Cold Storage

The Verdict

Before we get into the verdict, I want you to understand that when I write these analyses, I try to give you an “angel and devil” on the shoulder approach. This isn’t financial advice, but rather information to equip you to make a decision on your own.

That being said, I see some potential in UnikoinGold, but a lot of red flags.

Risk:

  1. A big red flag I see is that only 20% of the tokens are going to be on sale. No matter how good an ICO is, whoever owns 80% of the tokens can manipulate the price at ease. -4
  2. In the whitepaper, one of the statements stood out to me. “The proposed ERC20 token, UnikoinGold, will give alternative methods of possibly turning over their winnings on the Unikrn platform.” Keyword: possibly. While the UnikoinGold team is stacked with experienced lawyers, the absence of certainty revolving around perhaps the most critical component of UnikoinGold is unnerving. -.5
  3. Something worth noting is that $21 million (about ⅕) of the ICO went to investors and venture capital firms. It wouldn’t be a far-reaching assumption to say that these VCs and celebrity investors got way better terms than any investor in the public ICO would. -.5
  4. In order for UnikoinGold to have any real tremendous value, the Unikrn site needs to grow its user-base at an exponential rate. I believe they have a good team in place to do so, but they have their work cut out for them. -1
  5. The concept just isn’t unique enough to justify massive growth. There are already a couple of different ICO eSport betting sites, as well as eSport cryptocurrency sites. There’s even an extremely similar eSport betting coin opening its ICO in a few days. -1
  6. The CEO stated that UnikoinGold is meant to be a stable currency for Unikrn users, and not for investors. -2

Good:

  • A very substantial chunk of the UnikoinGold tokens, about ¼, is to be devoted to marketing and partnerships. If there’s something the majority of ICOs lack, it’s the ability to get users other than speculative investors. The Unikrn CEO stated that they are not looking for speculators, rather people who actually use the platform. I’m assuming the marketing team will reflect this in their strategies. +2
  • UnikoinGold is linked to Unikrn, which already has proven success and a dominant team and set of advisors that could take UnikoinGold far. Additionally, the arsenal of investors in both Unikrn and UnikoinGold’s ICO thus far have experience in growth-focused companies. +3
  • It’s hard to dispute the numbers of how fast eSports is growing. By already being a leader in the industry, Unikrn is a pretty good position for capitalizing on future growth. +3
  • UnikoinGold is VC-backed. There are two sides to every coin (pardon the pun). None of the investors behind UnikoinGold strike me as eSports evangelists willing to sacrifice a profit for the sake of eSports betting. This creates an antagonistic relationship between the Unikrn team’s desire to create a stable currency for its players, and their investors’ desires to profitably exit from their ICO investment.  +2
  • The ICO has star power. You rarely see an ICO with celebrity investors such as Ashton Kutcher and Mark Cuban, as well as several VC firms. The ICO world is filled with so much anonymous and unknown instability that having credible and popular investors such as one of the main guys from Shark Tank can be a very enticing signal. +2

Disposition

We land at a loaded +3 of 10 for UniKoinGold.

The UnikoinGold ICO is unlike the majority of ICOs.

It’s not its own company (UnikoinGold), yet a piece in the puzzle for a larger company (Unikrn). This can be interpreted as advantageous or disadvantageous for investors. Since the coin will be tied to a company dominating its industry with a functional product, one can hope that it will be a success as well. However, since only 20% of the coins will be on the market, the price can be easily manipulated to suit the needs of Unikrn, which is likely will be.

Again, you are ultimately responsible for your investment decisions. I think it’s easy for the average investor to get swept up in the mix of ICOmania, the eSports figures reflecting massive growth, and UnikoinGold’s star-studded investors and accomplished team.

Ultimately, I think the shadow cast by the red flags points can’t be overlooked.

  1. Only 20% of tokens are available to the public.
  2. The UnikoinGold use case just isn’t anything impressive for anyone not using the Unikrn platform.
  3. UnikoinGold is simply just a feature for a company. If you’re looking at it as an investment opportunity, realize that this is kind of like putting your money on Snapchat’s dancing hotdog filter if it was a cryptocurrency.
  4. The CEO literally said UnikoinGold is not for investors.
    1. In a YouTube AMA, Rahul Sood stated “We have to be super clear with people that buying a token is not an investment. Buying a token is buying a product that were selling that can be used on the Unikrn platform. People should not be looking at this as an investment. If they are looking at this as an investment, they’re making a mistake. Tokens are not investments. You’re not getting equity. You’re not getting voting rights. There many or may not be volatility. It’s important for us to make the tokens stable and justify the value over time. People who are using it are going to be betting with it. If they bet with it, they want to know that when they bet and win, they can cash out. They want to feel comfortable that there is stable value there. It’s important to maintain stability. We are not interested in the idea of speculators coming on to pump it up and bring it down.

Investment Details

To see more details on the ongoing ICO pre-sale (28 days left), go to https://unikoingold.com/sale.

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 18 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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6 Comments

6 Comments

  1. motboy

    September 24, 2017 at 8:18 pm

    Just wanted to say thanks Alex. Think you do a great job, objectively as possible, presenting the pros and cons.

    If it was your money – and I get these are not apples vs apples – but would you go here or Bitdice?

    • Alex Moskov

      September 24, 2017 at 10:44 pm

      Thanks, I appreciate the feedback!

      Personally, neither really present too compelling of an opportunity for me. If I had to choose between those two, I would go with UnikoinGold. I’m interested to see where the team takes it.

  2. hoodun

    September 24, 2017 at 10:37 pm

    Thanks, this reassured my decision to pass on this one.

  3. motboy

    September 24, 2017 at 11:36 pm

    Not sure that’s what Alex is saying. Ultimately it’s the team that will make these ICOs turn into something of substance and this has too many of note to ignore.

    I watch with interest.

  4. motboy

    September 24, 2017 at 11:54 pm

    Alex just out of interest, and apologies if this has been covered in the past, but at what weighing do you consider a buy? 6-7 and above?

    * obviously the decision is that of the trader who’s own research should drive any investment.

    • Alex Moskov

      September 25, 2017 at 10:23 am

      Personally, I would focus more attention on the risks than the overall weight. Many ICOs have lofty ambitions and put together good teams, but ultimately if you’re thinking long-term, you want to be very aware of what could go wrong before thinking about investing.

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ICO

ICO Analysis: BitTorrent Token

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Blockchain company TRON made waves back in June 2018, when it was announced that TRON was acquiring BitTorrent, the company responsible for the development of the immensely popular file-sharing protocol BitTorrent, for $140m.

The BitTorrent protocol is a pioneer in the decentralized networks space and allows for the downloading and uploading of files from/to various hosts rather than a single server.

Perhaps the most popular or well-known use of the protocol is torrenting, which is often used to share copyrighted content like movies and music illegally.

Regardless of how the protocol is used, one can’t deny the popularity of the protocol.

According to BitTorrent (the company), the protocol is used by more than 170 million people every month and is responsible for as much as 40% of the world’s daily Internet traffic.

However, while BitTorrent is immensely popular, the company behind the protocol has struggled to generate revenue.

Thus, the acquisition comes as a break for the struggling company and might prove to be very strategic for TRON, as they gain access to a very large user base and more importantly (in the author’s view), a team of developers that is top of its class when it comes to developing decentralized networks.

Under the new leadership, BitTorrent is launching a token (BTT) to tokenize what is perhaps the world’s biggest, decentralized file sharing protocol.

Token

According to the BTT whitepaper, BTT will incentivize users to offer infrastructure services, such as seeding or hosting files, in return for BTT.

To validate this concept, BitTorrent is launching something called BitTorrent Speed (release date set for Q2 2019), which will enable faster downloads for users who choose to pay file seeders in BTT.

Thus, downloaders (“leechers”) will benefit from faster downloads via prioritized resource allocation, while seeders or hosters will benefit from payment in exchange for providing bandwidth services to the network.

It’s hoped that this will incentivize downloaders (who become seeders when they start to download a file) to keep seeding, even after their download is finished, a problem that has been present since the inception of the BitTorrent protocol.

While BitTorrent Speed is the first initial experiment when it comes to tokenizing the BitTorrent protocol, the team behind BTT envisions more generalized applications of this tokenization model (with potentially more to come):

  1. General decentralized mass distribution of content that might be subject to attack like censorships. With the decentralized and large network effects of the BitTorrent Protocol, not only do content creators not have to worry about hosting their content on one provider, but performance issues will also be of less worry, as the BitTorrent protocol has been proven to be able to handle large amounts of download requests, with organizations like Facebook and Twitter even using the technology to distribute updates to their servers.
  2. Decentralized storage services, where users pay for storage over time
  3. Decentralized proxying services, where users pay to retrieve content by URL (use cases may include content that might be subject to IP-based controls, highly mobile applications, and users with intermittent Internet connectivity, such as mobile users on WiFi, requesting content in chunks vs. in a complete form)

BTT-based transactions will be confirmed via blockchain technology to prevent fraud.

The total supply of BTT will be 990,000,000,000 (990 billion) BTT.

The tokens will be allocated as follows.

  • TRON Foundation (20%)
  • BitTorrent Ecosystem (19.9%)
  • Team (19%)
  • TRON Airdrop, or allocation for holders of Tron’s cryptocurrency (TRX) (10.1%)
  • BitTorrent Airdrop, or allocation for BitTorrent client users for client install and onboarding (10%)
  • Seed investors (9%)
  • Public sale (6%)
  • Partnerships (4%)
  • Private sale (2%)

The public token sale, which starts at 15:00 UTC, January 28th, 2019 is structured as follows.

  • $7.2m USD hard cap (sale finishes when hard cap is reached or at 15:00 UTC, February 3rd, 2019)
  • Individual cap of $20k USD
  • 59.4 billion BTT for sale (6% of total token supply)
  • No vesting or lockup
  • 40% of tokens for sale in BNB, 60% for sale in TRX
  • Tokens distributed within 15 days of token sale conclusion

Team

The team behind BTT is the team behind BitTorrent, which as explained, is a massively popular decentralized file sharing protocol, and the team behind Tron, a highly popular blockchain-based project, whose cryptocurrency TRX, is ranked #9 by market capitalization as of writing (Coinmarketcap).

Verdict

Below is a breakdown of the risks and growth potential of BitTorrent Token (BTT).

Risks

  • Would people actually pay for faster torrent downloads (initial use case for BTT, which will serve as a way to validate or invalidate the notion of tokenizing the BitTorrent protocol)? Torrents are known for enabling free downloading of content like movies and music. If users really wanted to pay for torrents, it’s possible that they would have already migrated to services like streaming via Netflix and Spotify. Moreover, BitTorrent users are not mandated to participate in BitTorrent Speed. (-0.5)
  • There is a lot of legal controversy surrounding the use of BitTorrent – the protocol itself is legal; however, as mentioned, there are many illicit uses of it, such as the sharing of copyrighted content. While it’s unlikely that the team behind BTT would get into any sort of trouble, it’s possible that users might be turned off by negative press or attention about illicit use and resulting legal disputes. (-0.5)
  • The team is highly experienced at building and maintaining decentralized network infrastructure (BitTorrent) and building popular blockchain-based solutions (TRON). However, competitors like Upfiring have already launched beta products, with decent feedback on places like Reddit. (-0.5)
  • Although the BitTorrent and TRON teams have built large-scale decentralized network infrastructure, it will be difficult to build a blockchain that can handle the massive throughput of the BitTorrent network. (-0.5)
  • Initial circulating supply is only 9% but will near 80% within 3.5 years, which means that the BTT token will face incredible inflationary pressure (-2)
  • Seed and private investors got BTT at a ~68% bonus (relative to public sale price) and don’t have a lockup (though tokens are vested over a year). (-0.5)
  • No details on lockups and/or vesting for team tokens. (-0.5)

Growth Potential

  • BitTorrent is about as legitimate as they come for proven examples of successful decentralized networks. (+2)
  • The tokenization of BitTorrent’s protocol could prove to be very interesting, and it’s possible that content creators and other individuals and groups that wish to distribute files could migrate to the protocol in order to circumvent the various problems associated with going through more centralized alternatives, such as app stores, music distribution platforms, and more. (+2)
  • If tokenization via BTT takes off due to the combination of the already large network effects of BitTorrent and the validation of the BTT tokenization model, it’s very possible that BTT might be covered in mainstream media outlets, as an example of a cryptocurrency project that has “mainstream adoption”. (+1)
  • The sale will be taking place on Binance’s Launchpad platform for ICOs, which provides BTT with a ready base of potential investors who can invest easily from Binance’s platform. (+1)
  • Although competitors like Upfiring are up and running, the team, as mentioned, has a great track record in building decentralized networks (BitTorrent and TRON). (+2)
  • Say what you want about Justin Sun and TRON, but no one can deny that Justin Sun and TRON are marketing wizards, who are highly capable of building investor interest in blockchain projects. During the bull run of late 2017~early 2018, TRX multiplied in price by over 100 times (as measured in USD), and the TRON community continues to be vibrant. (+2)

Disposition

BitTorrent Token will prove to be an interesting experiment for the future of decentralized technology. The team is combining an already large decentralized network (the BitTorrent protocol) with the idea of tokenization and crypto-economics. However, in terms of investing in the token sale, competitors, current blockchain technology limitations, inflationary pressure, more favorable terms for early investors, opacity regarding team tokens, and general lack of interest in ICOs amidst a bear market make BTT ICO participation a questionable proposition. Nevertheless, the sheer potential of leveraging BitTorrent’s network in a cryptocurrency project as well as the team’s experience in building decentralized networks and marketing make BTT a token to keep an eye on. BitTorrent Token receives a 5/10.

Investment Details

  • Type: TRC10 – Utility
  • Symbol: BTT
  • Platform: TRON
  • Crowdsale: January 28th, 2019 at 15:00 UTC
  • Minimum Investment: Unspecified
  • Price: 1 BTT = .00012 USD (prices in BNB and TRX set on day of token sale)
  • Hard Cap: $7.2m
  • Payments Accepted: TRX, BNB
  • Restricted from Participating: China, USA, Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar, North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, Venezuela, Yemen, and Zimbabwe

For More Information

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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: Devv

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One of the major issues with blockchain technology is that the underlying platforms are unable to adequately service high amounts of usage without compromising on speed and transaction costs (“the scalability problem”).

In fact, many see this as one of the foremost obstacles for blockchain to overcome in order to achieve widespread adoption and become the basis for a new and decentralized Internet.

Various projects have sprung up and are in the works with the focus of tackling the scalability issue.

Devvio is yet another contender to step into the arena for scalable platforms and has developed a blockchain protocol called Devv that claims to address blockchain’s major issues including scalability as well as fraud, loss, theft, privacy and stability.

While seasoned ICO investors might have heard this pitch one too many times, Devv has processed over 1 million transactions per second (tps) on-chain and is currently benchmarking at over 8 million tps on-chain, the results of which can be seen here. Those would like to delve further into Devv’s technology can check out the Devv whitepaper and Devv Github.

By solving the aforementioned issues of scalability, fraud, loss, theft, privacy and stability, Devvio believes that their cryptocurrency has the potential to really grow into the preferred way for instant value exchange worldwide.

Moreover, similar to platforms, such as Ethereum and EOS, developers can build Dapps on Devv but not be limited by high fees, low transaction throughput, and sub-par security at scale.

Some use cases the Devvio team foresees for Devv include the following:

Financial Services

Using Devv to manage exchange, hedging, payments, and repatriation of funds.

Data

Using Devv to manage sensitive data in a highly secure environment.

Logistics

Track and manage goods as well as reduce traditional insurance and logistics costs.

Token

Devv’s token will be used to enable value and asset exchange similar to other cryptocurrencies and tokens.

Devvio will initially issue ERC-20 tokens to investors before ERC-20 tokens are swapped for native Devv tokens at a 1:1 ratio.

Devv tokens (total supply 500m tokens) will be allocated as follows.

  • 30% token sale (150m tokens)
  • 30% company reserve (150m tokens)
  • 20% partners and acquisitions (100m tokens)
  • 15% founders and partners (75m tokens)
  • 4% advisors (20m tokens)
  • 1% bounties and community (5m tokens)

According to the Devv whitepaper, token sale proceeds will be used in the following manner (assuming the hard cap of $18m is met):

  • 15% technical development
  • 12% Devvio operations
  • 12% business development
  • 18% Intellectual property development, licensing, and enforcement
  • 20% marketing
  • 8% supporting technologies
  • 15% token sale fees

The amount of Devv tokens issued to investors will vary depending on how much is raised during the token offering. For instance, if the hard cap of $18m is met, token purchasers will receive 150m tokens as mentioned.

2% of Founder, Partner, and Advisor tokens will be available upon the Token Generation Event (TGE) and 98% will be vested with a cliff of 1 year at a rate of 1/8th each quarter for 2 years (after the initial 1 year lockup period).

Team

Devvio team members include the following:

CEO Tom Anderson – Anderson was the founder of Novint Technologies, a robotics company which made the first 3d touch device for consumers. Anderson is considered a pioneer in haptic technology (integrating the sense of touch into computers and virtual reality). Novint raised over $30m, licensed game development worth tens of millions of dollars, and more before its patents were sold to Facebook.

Advisors

Tokenmarket – well-known token sale organizer that has helped ICO clients, such as Civic, Storj, and Dent.

More team members and advisors are listed on Devvio’s team page.

Verdict

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

Risks

  • Like many projects – not fully released. First stable release of Devv blockchain is set for Q1/Q2 2019.
  • For a highly ambitious blockchain platform (“solving” scalability, fraud, loss, theft, privacy and stability at the same time), no one on the team has standout experience working on similar projects.
  • Token allocation for token sale could be higher.
  • Though the token sale date hasn’t been specified, interest on social platforms thus far seems relatively low for a project of its scope (e.g. ~2.8k Telegram channel members and ~1k Twitter followers as of writing).

Growth Potential

  • Testnet available and not a complete whitepaper/vaporware project like many ICOs.
  • Team has had business success in other endeavors (e.g. Novint).
  • According to the Devv FAQ (“Do you have any patents”), the team has patented their ideas to build somewhat of a protective moat.
  • Instead of accepting that thefts occur in the blockchain/cryptocurrency space like most other projects, Devv has an optional transaction method (similar to credit card chargebacks) called DevvProtect. Optional DevvProtect wallets guard against common issues like stolen private keys and lack of asset transferal upon events, such as a token holder’s death. These are definitely interesting features that would probably be of interest to businesses, Devv’s intended audience.

Disposition

Although jaded ICO investors are probably tired of hearing about platforms that will solve scalability among other blockchain technology obstacles, Devvio’s Devv blockchain does show promise with its benchmarking of 8 million tps and testnet available for use. This in addition to the team’s business experience, focus on patents, and innovative features like optional transactions make the project one to keep an eye on as long as they can deliver technically and garner adequate community interest once the ICO date is announced. Devv receives a 7/10.

Investment Details

  • Type: ERC20 – Utility then Native
  • Symbol: DEVV
  • Platform: Ethereum then Native
  • Crowdsale: TBA
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: $18m
  • Payments Accepted: Unspecified, presumably ETH
  • Restricted from Participating: Unspecified

For More Information

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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: Fieldcoin

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Fieldcoin is an agribusiness crowdfunding platform that enables anyone to buy, sell, rent, and manage farmland from anywhere in the world. Using IoT, smart contracts, and other agribusiness technology, token holders will form a DAC (Decentralised Autonomous Community) and vote on every aspect of their chosen agribusiness from seed to table.

“Fieldcoin’s mission is to bring the blockchain technology to land property transactions and agricultural crowdfunding projects while creating a stable transaction instrument easing the process of land and agribusiness acquisition.”

Fieldcoin will offer access to LANDS Management Services. Investors will be able to buy/sell/manage physical land of different sizes and budgets at an attractive price compared to the market value.

The company claims to:

  • Brings liquidity to the agricultural industry
  • The token is backed by land.
  • Decentralize the highly centralized agriculture market
  • Track the origin of food products.
  • Manage the way the food is grown (pesticides or organic)

Along with the above highlights, Fieldcoin’s “trade-back token” guarantees an 80% ratio on the value of your token to the assets in the ecosystem and the possibility of claiming your assets in physical property at a certain rate under the market price.

In the Fieldcoin ecosystem, there are 2 levels of ownership: “Off-chain,” which is to comply with national regulations and “On-chain,” which is recorded and transacted on the blockchain.

  • Off-chain: Fieldcoin Ltd or a third party company DAO (decentralized autonomous organization) owns the property titles recorded in the national land registry. The token holder owns a share of the company representing the specific land acquired on the platform.
  • On-chain: Fieldcoin Ltd creates a unique token with a unique number representing a specific property called LANDS (ERC721). The LANDS token represents the ownership of the property and can be exchanged on the Fieldcoin platform using the Blockchain.

The FCO will start April 2nd, 2019.

FCO means Field Coin Offering. It’s like any ICO, users buy (FLC) ERC20 Utility tokens which are used to acquire non-fungible tokens (ERC721), which represent a particular agricultural property. “The acquisition of NFT tokens during the ICO makes the Field Coin Offering unique and offers a strong advantage to investors that are able to test the platform and own tangible assets during the Coin Offering.”

Token

FLC is an ERC20-based utility token distributed during the FCO. The token is used as a currency to buy land, services and crowdfund agricultural projects on the platform.

LANDS is an ERC721-based token received after buying a specific land property through our platform, representing land ownership and storing the data of your property. LANDS are also available for purchase during the FCO.

According to the company, trade-back token is “Token holders will buy land on Fieldcoin’s platform and pay the full market price displayed on the website. They will be credited with a coupon to buy land for later purchases. The value of the voucher corresponds to the difference between the price drop of the token under the 80% threshold and the actual value of assets in Fieldcoin’s Ecosystem. The coupon can be applied to available properties sold by Fieldcoin Ltd on the platform.”

Distribution:

  • Private Sale 2%
  • FCO 60%
  • Token Bonuses 17%
  • Reserves 10%
  • Team 9%
  • Bounty 2%

Allocation of funds:

  • 60% Purchase of Physical Land
  • 15% Agribusiness Development
  • 10% IT
  • 7% Legal
  • 6% Marketing
  • 1% Reserve Fund
  • 1% Social and Rural Development

Ecosystem asset reallocation:

  • 85% Land Recapitalization
  • 9% Business Operations
  • 5% IT Development
  • 1% Participation in Communities

Team

The Fieldcoin project is governed and supervised by Fieldcoin Ltd, registered in London. The team members are from France, Canada, USA, India, Belgium, Italy, the UK, Pakistan and China. There are over 25 team members including the advisors.

Marc Couzic is the  Founder/CEO.  He is a freelance commodities and crypto trader since 2013 and has been a “Contributor” to 3 blockchain projects this past year; Experty.io, Kart Block, and Magna Numeris.

Alexandre Palubniak is a Web Project Manager from France. He has spent 7 years as a freelance “Director Artistique”.

Jeremie Joncas is a COO from Canada but there is not much info on him. He owned a business for 4 years called J2 Entretien (but can’t find any info in it). He’s traded crypto for the last 1.5 years.

The rest of the team is similar to the above – very little experience in agriculture or blockchain.

There are also 10 Contributors/Advisors. They are average.

Verdict

When describing the benefits of Fieldcoin in Telegram, CEO Marc Couzic had this to say, among other things.

“Yes, it is a share profit system where 40% of net profits on production goes to the externalized land management company or farmer (choosen by Fieldcoin) exploiting the land and 60% to the owner. The holder of LANDS tokens won’t need to do a thing besides participating in decision concerning the type of crops and agricultural method used on its land. The idea is to levy the burden of execution for the investor and move towards agricultural automation processes. Additionally, the price of land grow on average 2-3% worldwide”

The idea of Fieldcoin is to have Decentralized Autonomous Communities that will decide on the agriculture products and management of their lands. They will vote on things like the amount of pesticides used, or if they want pure organic or reasonable agriculture.

The problem is DACs are complicated. Billion-dollar projects like Ethereum and EOS are still developing the tools to perfect them. Does Team Fieldcoin even have the ability to execute this massive project? It seems iffy, as they are fast approaching on the pre-sale and do not have an MVP. They only have this picture of one.

Risks

  • Small soft cap of just $3 million USD. According to the company: “the Proof of Concept can only be implemented once the FCO has reached $5 million USD. In the event of the cap not being reached, the Proof of Concept will be postponed.” This is sketchy. -1
  • The team is not very impressive at all. -2
  • Their business plan requires the minting of new Fieldcoin tokens to buy more land. They explain the process in detail here. -1
  • Only 13% of the funds raised will go to legal and marketing. -1
  • DACs are complicated. Many top projects are delaying launch until they figure out governance. -2

Growth Potential

  • First mover advantage. +2
  • They say they’ve already purchased land, have buying promises and about 35 offers to be displayed. +2
  • 85% of the Ecosystem asset reallocation is reserved for new land acquisitions further expanding the Ecosystem.+2
  • “Fieldcoin plans to target low-risk and average potential markets first, such as the countries within the European Union, and will then move slowly to countries with more venture capital and with much higher expected returns for Fieldcoin’s Ecosystem.”+1.5
  • 1% of the Fieldcoin tokens will be allocated to the Fieldcoin Foundation, which aims to develop community infrastructure. This project includes plans to build schools, water wells, irrigation systems, and roads.+2
  • “The Fieldcoin token is supported by “Trade-Back Protocol”, offering token holders the possibility to claim LANDS at a reduced price in case of market dips. Thanks to our upward trend capitalization mechanism, new physical lands will be acquired by Fieldcoin Ltd. increasing the guarantee of the Trade Back Protocol.”+2
  • Although we don’t score Fieldcoin well, these “respected” ICO sites have them ranked rather high. +0.5

Disposition

The tools required to build a proper DAC voting system are only now being built. Although something similar to this DAC agribusiness will someday soon be a reality, this project is too early and too ambitious, especially with such an inexperienced team. 5/10

Investment Details

  • Symbol: FLC (ERC20)  LANDS (ERC721)
  • Platform: Ethereum
  • Total Supply: 1 billion
  • Presale: Feb 4 – Feb 12, 2019 (100% bonus, 1 million USD worth of tokens available)
  • Price: 1 FLC = $0.05
  • FCO (Field Coin Offering) Start date: April 2nd 2019.
  • Hard Cap: $31 million
  • Soft Cap: $3 million
  • Telegramhttps://t.me/fieldcoin
  • Websitehttps://www.fieldcoin.io/
  • Barred Jurisdictions: USA and China

All unsold tokens will be burned.

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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4.2 stars on average, based on 27 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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