The market for services related to smart contracts is highly competitive and has low barriers to entry. The company's materials completely lack the go to the market strategy (GTM) Last will contracts, as one of the main advantage of the project, does not higlight my will among competitors, such as Etherparty, BlockCAT, etc.
The product is so simple that others would copy it easily. (Product does not have sustainable competitive advantages). The project lags behind the product development roadmap provided on the website.
The project is focused on a small segment of the "last will" contracts. The business model is almost similar to such projects as etherparty.io and does not have unique positioning and unique components.
The maximum amount of funding during ico will be $ 20 million, which is 10 times over the average size of the round (according to Pitchbook) for the seed round (US market) средний размер раунда (по данным Pitchbook) для seed round (US market) The financial forecast provided by the project are unrealistic Calculation of financial forecasts is made taking into account an optimistic scenario for the value of the contract (0.5 ETH for 3 years).
According to ICOscoring, the team lacks a strong BDO specialist and sales specialists. The bulk of the team members are simultaneously employees of the DDG LLC development company, created by Vladimir Tikhomirov.
According to HypeCycle from Gartner, the exit of smart contracts to the mass market will take place not earlier than in 5 years. At the same time, high competition is expected in the segment due to low barriers to entry. According to Etherparty, the market is $ 24 billion for all smart contracts using Ethereum. The annual growth rate of the market (CAGR) is projected at the level of 61.5% until 2021.
The product is an application for creating smart contracts, aimed at ordinary users, not just programmers. Unlike competitors MyWish, first of all, concentrates on specific tasks and develops contracts to solve them. In other words, MyWish comes from the users' need for a particular solution: a wedding contract, a will, a lost key, etc. Road map of the platform development project is not disclosed.
The launch of the platform will allow to optimize the process of creating and testing smart contracts, and using WIL tokens simplifies the user's interaction with the platform and allows buying, testing and executing smart contracts on the platform. WIL token is the fuel required for the platform to function. No contract can be created or executed without payment of WIL tokens. After receiving the payment in the form of a token, part of the funds remains in the MyWish platform for subsequent payments as part of the Joule system and for paying to third-party developers for their contracts. The other part is exchanged for ETH to pay gas for the creation of contracts. For a user of a platform that wants to issue a contract for 3 years, the average cost of such a contract is approximately 750 WIL (0.5 ETH at the rate at the time of ICO).
Each WIL will be sold for.00067 ETH, about $.2 USD that means that hard cap for races - sales makes $ USD 20,000,000. Soft cap is planned to establish equal $ USD 1,000,000. According to WP in December, 2017 the company expects net profit (the saved-up result) at the level of $2.97 million, at the same time the forecast is absolutely unrealistic and not reasonable the current operational indicators.
The project team includes 6 people, 5 of whom are IT specialists and 1 marketer. The CEO has a Ph.D. in Computer Science. The bulk of the team members are simultaneously employees of the DDG LLC development company, created by Vladimir Tikhomirov.