Except BAT, all other digital advertising blockchain platforms did not gain popularity and have ROI<1
The product development started only in February 2018. Beta version is only expected in January 2019.
Now it is only a little information given on the expected fee size. The unit economy is now unclear.
Maximum transaction volume during the token sale is not set. There is no information about the use of proceeds. The team will give up to 20% bonus for public sale investors but does not lockup the bonus.
There are just 5 developers in the team of 33 members. No neural networks experience. There are no experts in digital advertising within the team. The developers are located in 4 different time zones. They reside in Belgorod, Altai Region, Moldova, and London. The experience of 4 out of 5 developers prior to joining Ubex is unclear. Some of the team members do not claim Ubex as a workplace on LinkedIn.
Ubex aims to enter the market of digital advertising. The global digital advertising market is estimated around 270B USD and grows by ~7% annually, according to Statista. According to the forecasts of Dentsu Aegis, the share of internet advertising can exceed 50% of the total advertising market in 2018 in countries such as Australia, New Zealand, China, Norway, Denmark, Sweden, the Netherlands and the United Kingdom. Ubex has several competitors in blockchain sphere of digital advertising platforms. There are several digital advertising decentralized platforms that are similar to Ubex: Basic Attention Token - BAT (Market cap of ~$280M), AdToken (Market Cap of ~$18M), Adbank (~$7.3M, ROI 0.33x in USD). Thus, except BAT, all the rest digital advertising blockchain platforms did not gain popularity and have ROI less than 1.
The GitHub activity of the project started at the end of February 2018. The last GitHub commit was made 10 days ago. The Alpha version of the platform is now available with limited functionality. It is now possible to pass KYC and to check demo account balance. Other functions are not yet available to test. The development of the exchange smart contract prototype for the storage of basic information started in April 2018. Beta version of the platform is planned in January 2019. There will be two main sections in the platform: service for advertisers and service for publishers. Advertisers can set up and run an ad campaign. Publishers can quickly and conveniently connect their advertising slot to the Ubex advertising platform and start earning as soon as the tracking add-on accumulates enough data about site traffic for further analysis by the neural networks. With the help of smart contracts on the blockchain, Ubex aims to make a transition to the COST PER ACTION model of payment, eliminating fraud and the need for clicks.
Ubex will charge fees for access to the platform both from advertisers and publishers. Now it is only little information given on the expected fee size. The unit economy is now unclear.
The team aims to raise 24K ETH by selling 72% of the tokens which is ~$13,3M. This is why the company valuation will be equal to ~$18.3M. Basic Attention Token (BAT) raised $35M during ICO in June 2017. AdToken raised $10M in June 2017. AdBank raised $14M in January 2018. When compared with competitors, the amount of raised funds and post-ICO valuation looks reasonable. There is no information about the use of proceeds. All tokens unsold during the Token Sale will be burned. The team and the advisors have their tokens locked for a period of 12 months. The team will give up to 20% bonus for public sale investors but does not lockup the bonus. During the Token Sale, the minimum transaction limit is set to 0.01 ETH or equivalent. The maximum transaction volume could only be limited by hitting the hard cap.
The team consists of 33 employees. However, the majority of them are community or country managers, and there are only 5 software developers. The developers are located in 4 different time zones. They reside in Belgorod, Altai Region, Moldova, and London. The experience of 4 out of 5 developers prior to joining Ubex is unclear. The experience of the most team members is only partially related to the product development. The CEO and co-founder - Artem Chestnov - previously worked at LAtoken(Roi since ICO - 0.38x), L'oreal, Anheuser-Busch InBev. The second co-founder has experience in legal advisory.