Bottr - project analysis. Icoscoring team. Bottr - project analysis
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Artificial Intelligence And Machine Learning

Bottr

Bottr is an ecosystem powered by smart messaging that rewards you for doing and sharing with others what you love and know. Your personal chat bot not only connects you with anyone and allows you to manage things that matter - from one place - but also lets you earn for your time and valuable social contributions. One part of the project is a friendly micro-payment method. Botcoin gives power back to you and rewards you for your actions directly in the Bottr ecosystem. Think of it like an independent state, an open marketplace, where you could share your knowledge and experience to earn money and social reputation.

Rating: 3.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
MVP of chatbot platform is ready and Botcoins are implemented and transferable within the platform. Beta version of the product is ready and could be used in web version or app. Gradually ongoing development and governance of the platform will shift from the founding team to the decentralized fully functioning network by 2020.


Token description
ICO date
17.03.2018 - 30.04.2018
Token price
N/A
Platform
N/A
Hard cap
6000000
Soft cap
2000000
Capitalization of token pool
60000000
Blockchain
Own blockchain
Token distribution date
N/A
Consensus method
Proof of value
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
One part of the project is a friendly micro-payment method. Botcoin gives power back to you and rewards you for your actions directly in the Bottr ecosystem. A cryptocurrency to put the value on output and act as a medium of exchange. (Botcoin)
Tokens distribution
Network growth and users contribution (60.0%)
Public Sale (10.0%)
Future expansion, research, and grants (10.0%)
Fund & accelerate developer ecosystem (10.0%)
Founding, team, advisors *A maximum of 50,000 or 1/36th of the owned Botcoins (whichever is higher) will unlock/vest every month. (10.0%)
Risks
MARKET

Competition on chatbots market is huge, only the best project will survive.

PRODUCT

For some reasons, responses in current chatbots are extremely slow.

BUSINESS MODEL
FINANCES

The monetization of the chatbots would not happen in near future.

TEAM

CEO and Founder have only corporative experience.

Full analysis
Market

There is ongoing trend of switching interaction of people and especially of people and companies to chats. In 2017 for the first time ever, the 4 biggest messenger apps are seeing more MAUs (monthly active users) than the 4 biggest social networking platforms. Moreover, using of chats grows much faster than using of social network. Nowadays, in most cases it is live chats, there people interact with each other. However, chatbots are growing much faster. It happens due to substantial cost savings and 24/7 availability of chatbots. In Q3 2017 there were more than 100,000 bots and developers on the Messenger network alone. More than 10,000 businesses are already using or working on their own bots, and by 2020 80% businesses hope to have chatbots for interacting with customers. Nowadays media companies and marketers are still investing more time and resources into social networks like Facebook and Twitter than they are into messaging services. That will change as messaging companies build out their services and provide more avenues for connecting brands, publishers, and advertisers with users.

Product

The MVP of the product is already developed, everyone could easily download an app or visit web-version of the product. With Bottr.me, users can build an interactive personal bot that can hold conversations on all social channels on their behalf. The bot can act as their personal page, FAQ assistant, customer service agent, rich microblog, interactive resume and more. These bots can be used by influencers, bloggers, creators, freelancers, startups etc. to present themselves online. The project works for more than a year and have not only built a great product which people already love but also organically grown the network to ~15k+ bots, ~40k+ monthly sessions, processed ~5m+ messages and carried out ~$150k worth of potential economic activity with ~30m+ Botcoins already in circulation. There are few competitors: Fortknoxster, blockcom, Mercury Protocol, Ironclad, Broadcast, NXT Messaging.

Business model

The project is built on the very strong and well-designed ecosystem. Bottr's platform is essentially built on four fundamental pillars:

1) A personal AI powered identity for connection and communication (chat bot)

2) A cryptocurrency to put a value on output and act as a medium of exchange (Botcoin)

3) A social reputation measure for trust and governance (Botscore)

4) A transparent and secure blockchain based infrastructure layer (Botchain).

As a result, it would substantially raise a usage of the platform and the engagement of users. Also, this model includes one of the most important feature nowadays' reputation. Otherwise, it would be impossible to distinct valuable information from white noise. Also, cryptocurrency would ease the user experience of value transfer. The whole model of the ecosystem is very well designed and explained in the whitepaper. It is clear, how intrinsic value of tokens will raise and why users will use this coins at the platform.

Finances

The most challenging task for chatbots platform is monetization. Nowadays, platforms such as Bottr has only one crucial parameter growth rates. As a result, it has to be supported by huge long-term investments. However, market leader could became new Facebook. As a result, Bottr has great perspectives for its investors, despite being on the very beginning of its way. It means, that investors have to estimate the potential of further growth of the company, rather than just potential profit of the project. Project has already passed Seed round of VC investments in Jul-2017. According to crunchbase, it has raised $300K. This round was financed by 500 Startups, Purvi Capital and well-known angel investors - Abhishek Gupta (TLabs) and Rajan Anandan (Vice President & Managing Director of Google). Several analogs also raised seed funding in 2017: Niki.ai, Boxx.ai, Vernacular.ai, Botworx.ai. All-in-all, we truly believe in huge potential for early investors of Bottr.

Team

Bottr has an well-balanced small team. The core team has experience in messaging platforms, business development, startups, mobile development, frontend engineering, and tech development. The team members are fully dedicated to the project. The founder and CEO, Abhimanyu Godara has previous work experience with top-ranked global companies such as KPMG and Deloitte. He used to be a Chief Manager at T-Labs. Other co-founders have programming experience. Also, project has great advisory board with key focus on investments and capital management. Moreover, raised fund would be used to make core team even stronger and attract top specialists to the company. The whitepaper is very well prepared, everything is clear and in detail. There are no doubts, that this team could build the great company and product.

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