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Fysical

Fysical is the infrastructure for the transparent and compliant exchange of location data. With an initial focus on human location data, Fysical provides the decentralized infrastructure for the next generation of big data: what stores you visit, where you travel, and how you move through the physical world. Tokens on the platform creates incentives for supply high quality and structured location data by higher benefits for such suppliers.

Rating: 2.6

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
Smart contract and tokens is ready and could be audited on GitHub. Platform for data exchange is fully functioned. The team started the development of Fysical in October 2014. According to their web-site the platform was launched in 2016. Now, more than 15 mln data points are sold through platform monthly.


Token description
ICO date
15.10.2018 - 30.10.2018
Token price
N/A
Platform
N/A
Hard cap
18000000
Capitalization of token pool
45000000
Blockchain
Ethereum
Token distribution date
N/A
Consensus method
Proof-of-work
Escrow
N/A
ICO currencies
ETH , BTC
Bounty camping
N/A
Markets
N/A
Token functions
FYS is a fully functional utility token that is used to purchase data on Fysical market, and it also provides an incentive system for data suppliers to supply more and better data. The FYS token unlocks data in a true 1:1 atomic transaction which fiat currency cannot.
Risks
MARKET

A lot of location data is freely available for most usecases. The biggest part of location data is owned and used within huge corporations.

PRODUCT

Last information about numbers of transaction is dated Oct 2017. There is no opportunity to freely use the final product of Fysical or Fysical Labs. Only landing pages is available. No information of app, which provides an location data or about any buyers.

BUSINESS MODEL

According to information on site, currently marketplace model is not balanced. (only 20 buyers and 1000+ suppliers)

FINANCES

There is no clear mechanism for token value growth.

TEAM

Not clear the role of founders of Fysical Labs in new project Fysical. Almost no technical team.

Full analysis
Market

Fysical truly believes that offline data is the most promising source of data in nearest future. The biggest offline data segment is location data market. It is about all movements of consumers through the physical world. In addition, it could consist of transactions data in the real world and offline stores and services. According to the MarketsAndMarkets agency, the location analytics market size is estimated to grow from USD 8.20 Billion in 2016 to USD 16.34 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period. Nowadays, typically, the location data is purchased from centralized data exchanges that are expensive, inefficient, and has lack transparency. Also, it is almost impossible for data buyers to verify the sources of data and go through compliance procedures with it. Moreover, there are no common standards on the location data market, as a result, each data buyer should adjust, validate and check all information before start working with data. Fysical is going to change it. The biggest problem for such business model is the fact, that the most part of your location data is owned by large corporations. Such data exchange is great only for small and medium enterprises. However, for them the most valuable information is analytics and insights, based on location data. Not the data itself. Strong current competitors is: factual.com and tamoco.com.

Product

First of all, the tokens FYS tokens are already developed and send to Ethereum. Fysical is a location data market. Due to huge size of location datasets, the mechanism of exchange is following: all location datasets are encrypted, the transfer of it goes off-chain. The transfer of the key to this datasets goes through Fysical 2019s smart contract. Fysical has several advantages for data buyer. Fysical keeps an audit trail of atomic exchanges of FYS tokens for datasets. It allows validating a dataset's source. It allows buying datasets that are authorized for use by the end consumers. The rewards token pool acts as an incentive for data suppliers to provide high-quality, in-demand datasets to data buyers. Ethereum blockchain is used to record Transactions in Fysical. As a result, it has an execution fee to be paid in Ether. This fee acts as a natural filter, discouraging data suppliers from uploading "spam," fraudulent, and low-quality data. It is possible to buy past, current or even future data at the platform. At the same time, data suppliers also benefit from the project. Fysical provides data suppliers with a factual record of data usage. Fysical makes pricing transparent and payment upfront and reliable. Moreover, all transactions carried out immediately without any delays. The project helps data suppliers to build a good reputation. Fysical lowers the barrier to entry for location data businesses that are new to the data trade to test the market demand for a dataset, resulting in new, unique, and useful datasets entering the market. Currently, there is no standard data format and exchange mechanism for location data. Fysical creates an incentive for buyers and sellers to acquire and put data to use faster by using the same data format, parsers, and transmitters with several partners. As it mentioned on site, currently more than 15 mln data points are traded through platform, there are more than 1000 data suppliers and 20 data buyers. However, it is not possible to verify. Moreover, this information is dated by Nov 2017. No updated information is publically available.

Business model

Fysical is a location data market. There are two core parties within Fysical: those who supply location data and those who buy location data. Both the suppliers and the buyers transact with FYS tokens. It gives few key advantages before usual model. First of all, it enables audit trails. Each transaction is recorded, as a result, it is easy to find out source of information. Tokens allows to organize real-time trade. There is no need to wait anymore, it is possible to verify all transaction details within a glimpse. The FYS makes international trade efficient. It is almost impossible in using fiat money. And the last one, token rewards for contribution. It could be a polygon mapping, exact data in exact time rewards. Some buyer would be ready to pay premium for such services.

Finances

Currently hard cap of the project is equal $18 mln. 40% of tokens would be sold, as a result, total capitalization of the project would be $45 mln. According to crunchbase, for the whole 3 years Fysical Labs has got only $2.1 mln of funding by 8 rounds, which is very strange. Such small rounds give negative signals for further investors. Moreover, no distibution of funds has been presented yet. There is only one information, that 40% of tokens would be sold.

Team

According to LinkedIn, only 3 people is involved directly in Fysical. Co-founders Justin Mann, Ben Smith and John Foley. Moreover, only John Foley is responsible for engineering in whole team. Other team members is responsible for community management, or involved in other projects, according to LinkedIn. All co-founders is involved in Fysical Labs since the November of 2014. Before it, he used to work as a software engineer and web developer. He graduate from University of Iowa with Bachelor of Business Administration. Justin Mann before founding of Fysical Labs used to work as an Investment Analyst in First Republic Bank for 2 years. And the last one is Ben Smith. He used to work as consultant and team lead in SunGard Financial System. Both of them, also holds business degree in Boston University Questrom School of Business. As a result, company does not have strong technical team. Community is mostly managed by one of three founders. At the same time, Fysical Labs was accepted into 500 Startups Accelerator in Summer 2016. Also, the project has a partnership with the Streamr.

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