Bitcoin 5551.6$ (-0.92%)
Ethereum 173.87$ (-2.33%)
Ripple 0.48$ (1.57%)
Connecting excellent projects with the right investors
We move ICO analysis to the next level
Investors get answers fast, discover promising opportunities and underline the key risks of upcoming ICOs. Companies attract new investors, get recommendations for further development, and provide the current investors with reliable analysis.

Past ICOs

127Past ICOs 7Ongoing ICOs 52Upcoming ICOs
Description
Period
Raising funds
Risks
Score
Links
Qiibee
Qiibee - loyalty on the blockchain.
Start
24.09.2018
End
30.09.2018
$ 9 000 000
Market
Product
Team
Model
Finance
Market

• This product is mostly interested for SME, which is not the biggest players on loyalty programs.

Product
N/A
Team

• The company was founded by two brothers without enough previous experience.

• Only 2 developers are non-remote.

Model

• There are no initiatives to pay for creating own brand tokens by QBX tokens. It is better to pay in fiat money.

• The opportunity to exchange brand loyal tokens for another brand loyal tokens or fiat money makes such brand loyal tokens useless.

Finance

• On the one hand, the product is ready, on the other, 49% of funds would be allocated to further product development.

• Huge difference between seed, private and public sale - investors are in unequal conditions.

3.6
Medium
PDX
PDX creates a next-generation public blockchain for infrastructure.
Start
17.07.2018
End
18.07.2018
$ 10 000 000
Market
Product
Team
Model
Finance
Market

- Competition in the sphere of scalable dApp-protocols is more severe than in others, so it has to be taken into consideration.

- The existing blockchains, though not as scalable as Alza might become, still have first- mover advantage and might be better off if they introduce scalability features, such as Lightning network, Sharding, Plasma, State Channels.

Product

- Low GItHub activity.

- Testnet is not available for public.

- There is no explanation on what the base consensus algorithm will be.

- PDX aims to create a blockchain for small amd medium-size businesses. However, the team members do not have experience in working with such businesses.

Team

- Several team members experience cannot be validated.

- None of the team members has blockchain experience.

Model

- The token role description is vague.

Finance

- There will be only 20% of the tokens available for sale. 80% of the tokens will be reserved by the project.

- Lenovo Capital investment in PDX can't be validated.

- The company valuation of $60M seems too high.

3.4
Medium
Caspian Tech
Caspian is a complete asset management solution for crypto that covers the full lifecycle of the trade.
Start
30.09.2018
End
31.10.2018
N/A
Market
Product
Team
Model
Finance
Market
N/A
Product

- The websites of Tora and Caspian look very similar.

- There is no link to GitHub to track the product development.

- It is unclear when the product development has been started.

- The motivation of blockchain integration into the system is unclear.

- The team claims that they already connected 10 exchanges to its system. The list of exchanges is unknown.

Team

- The team is scattered between Hong Kong, Tokyo, San Francisco, and London.

- Most of the team members still work at Tora and have to work at two companies simultaneously.

- None of the core team members has blockchain related experience.

Model

- The rationale behind issuing native token is unclear.

- The list of CSP token holders benefits is unclear.

Finance
N/A
3.0
Medium
AERGO
AERGO aims to create a scalable blockchain with 1M+ TPS.
Start
13.09.2018
End
07.10.2018
$ 32 000 000
Market
Product
Team
Model
Finance
Market

- Competition in the sphere of scalable dApp-protocols is more severe than in others, so it has to be taken into consideration.

- The existing blockchains, though not as scalable as AERGO might become, still have first-mover advantage and might be better off if they introduce scalability features, such as Lightning network, Sharding, Plasma, State Channels.

Product

- Technical paper and smart contract links are missing.

- There is no link to Github.

Team

- The team is scattered across different time zones. They are located in London, South Korea, Hong Kong, and New York.

- Several team members are still employed at Blocko, according to their LinkedIn pages.

Model
N/A
Finance

- AERGO will sell only 30% of the tokens. Therefore, most of the tokens will be centralized in the project.

3.4
Medium
BOLT
Bolt is building a decentralized mobile-focused video content platform.
Start
18.09.2018
End
22.09.2018
$ 12 000 000
Market
Product
Team
Model
Finance
Market

- The market for online entertainment content is quite saturated and has several large players, including YouTube, Instagram, Snapchat, and others.

Product

- The mainnet of the underlying Blockchain - Zilliqa - has not been launched yet. There is no guarantee that it will be launched as expected.

- The product usecase is weak and does not seem to overtake YouTube.

- The requirement to pay fees for the YouTube-like service makes the use-case feasibility even lower.

- The roadmap is mediocre.

Team

- Overall the team does not seem outstanding.

- The fact of co-founding "Channel 9" by one of the team members cannot be validated.

- The team is scattered around UK, Hong Kong, and Malaysia.

- There are no people with blockchain experience within the team.

- There are no advisors from Zilliqa while BOLT aims to launch its platform on their blockchain platform.

Model

- NEP-5 tokens are supported on far less exchanges than ERC-20 tokens and usually suffer from low liquidity.

- The fact that users can pay with fiat money or Bolt tokens could limit token adoption. Even though there are savings to be made by paying with tokens, people tend to stick to what they know.

Finance

- DApps generally have low upside potential in terms of market cap.

- The valuation of $30M is quite high for a dApp.

3.2
Medium
Dusk Network
Dusk Network - decentralized infrastructure enabling anonymous and secure data transmission
Start
01.11.2018
End
09.11.2018
$ 14 400 000
Market
Product
Team
Model
Finance
Market

- Government regulation uncertainty regarding the infrastructure of privacy blockchains

Product

- One of the strongest features of the project (Security Token issuing) strongly depends on government regulation of cryptocurrency, that appears to be unpredictable

- Designed infrastructure appears to be too complicated for such a fast roadmap - some delays are expected

- No prototype available yet

Team

- Lack of strong legal expert - it is essential for the project's plans

Model

- Token functions are limited (but with the proven model)

Finance

- It is not clear how much will be raised on private sale stage

3.6
Medium
PayGine
PayGine is an open financial platform with an open API used to operate within its proprietary banking structure to serve FinTech and crypto-business.
Start
18.06.2018
End
17.08.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

There are plenty of similar projects that were trying to issue the same solutions but did not succeed. The services provided by PayGine have already been introduced by Revolut and is in active development and global expansion.

Product

The idea is not unique and several other larger projects already working on the same solutions for a while. It is unclear what has been done by Best2Pay and PayGine separately. There are legal risks pegged to the bank acquisition procedure. The current stage of PayGine development is unclear.

Team

There are no people with blockchain experience within the team. Most of the team members have corporate management experience and did not start and scale companies by themselves. The team members are scattered around different time zones. They live in Florida, Singapore, Moscow, Donetsk, and Saint Petersburg.

Model
N/A
Finance

The range between Soft and Hard Cap is quite high and equals to $27M. When compared to the similar projects, the valuation seems too high. Only 27% of the tokens will be available for sale. Most of the ICO collected funds - almost 65% - will be used for a bank acquisition. There are huge bonuses (up to 20%) for the public sale participants.

2.8
Low
Lambda
Lambda is a scalable data storage infrastructure project for blockchain.
Start
19.09.2018
End
02.10.2018
N/A
Market
Product
Team
Model
Finance
Market

- The high competition in the filed os decentralized storage platforms might be a downside for Lightstreams development.

Product

- There is no link to GitHub to validate the product development.

- The testnet is only expected in Q1 2019. By then, the competing projects will already have their mainnets in operation for a while.

Team

- None of the team members gives the links to their LinkedIn profiles.

- Some of the team members do not claim Lambda as a workplace on LinkedIn.

- There are no people with blockchain experience.

Model

- Lambda will use basic Proof of Work consensus mechanism.

Finance

- The project valuation of $80M seems too high.

- Lambda will sell only 30% of the tokens.

3.2
Medium
Emotiq
Emotiq is a next-generation blockchain with powerful scalability and privacy with a natural-language approach to smart contracts.
Start
01.02.2018
End
31.10.2018
$ 60 000 000
Market
Product
Team
Model
Finance
Market

- High competition in the sphere of smart-contracts development tools.

- The most successful ICOs in this field were launched back in 2016 i.e. have early mover advantages.

Product

- Testnet is not available yet.

- The motivation for the customers to issue tokens on Emotiq platform and not somewhere else is unclear.

- The development of a proprietary programming language - Ring - may not be adopted by communities.

Team

- The team members are located in Moscow, Zug, Tucson, Mexico, Los Angeles, and Toronto.

- David McClain does not have any experience except Emotiq mentioned on his Linkedin page.

Model

- Now there is not enough information available on the business model of the platform.

- Token economics is not given in a detailed manner.

Finance

- The unsold tokens will be kept in reserve by Emotiq, to be used for future funding needs.

- Post-ICO valuation will be equal to $120M which seems extremely expensive.

- There is no information on the use of proceeds.

3.4
Medium
MoonX
MoonX – decentralized exchange with higher transaction speed
Start
10.10.2018
End
14.11.2018
$ 30 500 000
Market
Product
Team
Model
Finance
Market

• Tough competition among exchanges

• Not significant and vague edge on competitors

• Strategic goal is to outperform crypto exchanges in volumes thanks to the token model designed but this parament does not indicate a fundamental leadership

Product

• Technical specifications are not available

• Prototype is not available yet

• Roadmap is not detailed and includes not relevant information

Team

• Lack of experienced blockchain developers

Model

• The model is likely to attract doubtful and questionable tokens for listing

• Token functions are poor and do not add significant and fundamental value to the project

Finance

• Maximum cap and Hardcap are overvalued

3.0
Medium
Fysical
Fysical is the infrastructure for the transparent and compliant exchange of location data.
Start
15.10.2018
End
30.10.2018
$ 18 000 000
Market
Product
Team
Model
Finance
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.

Team

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

Model

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

Finance

There is no clear mechanism for token value growth.

2.6
Low
Bottr
Bottr is an ecosystem powered by smart messaging that rewards you for doing and sharing with others what you love and know.
Start
17.03.2018
End
30.04.2018
$ 2 000 000
Market
Product
Team
Model
Finance
Market

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

Product

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

Team

CEO and Founder have only corporative experience.

Model
N/A
Finance

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

3.4
Medium
Telegram Open Network (TON)
Telegram Open Network (TON) is a fast and inherently scalable multi-blockchain architecture. TON can be regarded as a decentralized supercomputer and value transfer system. By combining minimum transaction time with maximum security, TON can become a VISA/Mastercard alternative for the new decentralized economy.
Start
01.03.2018
End
01.04.2018
N/A
Market
Product
Team
Model
Finance
Market

There are already tons of large players in the market, ranging from banking wallets (CitiPay) to Fintechs (PayPal, Venmo). ",
            TON has direct competitors across different services the company would like to build  from messaging to decentralized VPN services.
As of Proof-of-Stake consensus mechanism, it\u2019s also in several large Blockchain projects, including Ethereum, immediate roadmap.

Product

The main product risk for TON is that many of the services have already been introduced by competitors and therefore might gain significant market share by the time TON launching its services.
            As WhatsApp and Facebook messenger already have large market shares among western countries, it might be hard for the project to expand its market share in western countries.
            All TON services are now only concepts and the characteristics of the final system may ultimately be very different from those claimed in WP, especially in terms of network bandwidth.

Team

At the moment, the whole project team is involved in Telegram. Despite the fact that TON and Telegram are strongly interrelated projects, their development should be separated.

Model

In this regard, it is not clear which direction of the development will be the main focus at early stages.
            There is no data on the evaluation of economic effects of each of the indicated areas.

Finance

The given cost distribution is not detailed and only highlights the use of funds.
            The price per customer might be significantly lower than $40 for WhatsApp, as there are many customers of Telegram among countries with oppressive regimes. That is why the valuation of the company is arbitrary.
            Since the outlines of the TON and Telegram projects are very diffused, this can eventually lead to the fact that not the ICO participants, but the founders of Telegram will be the main beneficiaries of the sale process.
            The collected funds will finance Telegram roadmap, which is in fact closely related to TON, but still a different project.

4.2
High
GEMS
Gems is a decentralized, open-sourced, human task crowdsourcing protocol built on top of the Ethereum blockchain.
Start
10.02.2018
End
01.03.2018
N/A
Market
Product
Team
Model
Finance
Market

 The market of online gig economy grew by 26% during the last year, however the part of the market where GEMS will operate - Clerical and data entry - did not grow at all in net terms.

 The micro-tasks market is heavily dominated by large players, such as Amazon Mturk and CrowdFlower.

 Also, there is another ICO entering the micro-tasks market that recently raised 30+ million dollar (Storm).

Product

 There is no information regarding the number of alpha-version users.

 The popularity of GEMS is heavily depending on overall cryptocurrency acceptance and the pace of crypto-to-fiat conversion mechanisms adoption. The main area where GEMS can attract more customers (developing markets) currently does not have convenient tools for crypto payments and conversion.

 The date of token utilization and availability of services to use is not clear.

 Even though GEMS states that they will cope with the problem of multiple verifications of the work done, they do not explain how the problem will be addressed.

 The roadmap given on Medium post does not seem feasible as the team consists of 2 people.

Team

 None of the advisors mention GEMS as their advisory-project on Linkedin.

 Apart from the founders of the project, the team behind GEMS is not clear.

Model

 The business model is only conceptually described so there are no figures that can clarify the commercial viability of the platform.

 The team says that the project will facilitate most of the transactions off-chain in order to pay less for GAS. However, GEMS does not explain how the gas payment will be paid in the end.

 The proposed competitive advantage over traditional platforms is based on the assumption that using GEMS protocol, work providers will hire less workers. This assumption is not proved.

Finance

 The team of the project bans telegram channel users who ask questions about the financial side of GEMS.

 GEMS does not clearly states the financial metrics. The token distribution structure is not completely clear.

 The initial hard cap will be around 18 trillion USD which is tremendously huge number for a new project. As there will be 2B tokens issued, the price per token will be around 9K USD. Therefore, the ROI might be low or even negative.

 According to the same post, 75% of tokens will not be available for sale and will be kept by team. Moreover, there is no information about vesting scheme for the team reserves.

 The project will use Dutch auction model for its token price determination. That is why the probability of a huge price dump when GEM token hits the exchange is very likely.

 There is no information about the time frames of ICO.

2.4
Low
Ankr
Ankr – blockchain transforming computing of classic Proof-of-Work algorithm to useful computations
Start
14.09.2018
End
20.09.2018
$ 16 000 000
Market
Product
Team
Model
Finance
Market

Tough competition among blockchain and industry projects

Product

Lack of prototype and whitepaper and early stage of the product Current roadmap version ends in July 2018, but it is to be updated

Team

CEO is not experienced enough in management Lack of marketing and legal specialists

Model

Token may appear to have additional functions after WP release

Finance

No financial detailed released yet

3.8
Medium
Tolar HashNET
Tolar is an open source, community governed crypto-currency featuring scalable, fast, secure, and fair transactions.
Start
14.09.2018
End
20.09.2018
$ 10 000 000
Market
Product
Team
Model
Finance
Market

High level of competition in the field of scalable blockchains: ICON, EOS, LIsk, Ark, Lisk, Cardano, Hedera, QuarkChain, Zilliqa, Credits.

Product

The Mainnet launch is only expected in Q2 2019. No MVP available. There is no link to GitHub. Whitepaper explains the HashNET Network in a Very Basic Way. The intended product functionality seems too broad and complex for development. The whole list of competitive advantages of Tolar Hashnet over ICON, EOS, LIsk, Ark, Lisk, Cardano, Hedera, QuarkChain, Credits, or Zilliqa is unclear

Team

Now there are no announced partnerships. Only one board member has previous blockchain experience. Other 7 board members have background in management or finance. Not every team members' experience can be validated on LinkedIn. Only 2 out of 8 tech team members have previous blockchain experience. Plenty of the team members came from various roles at COTRUGLI Business School, not from real business.

Model

It is unclear how many tokens will be needed to run a masternode.

Finance

Only 35% of the tokens will be available to investors. The token lockup scheme for the team (20%) and advisors (2.5%) is unclear. High hardcap ($35M) and valuation ($100M) after ICO when compared to competitors(Ziliqa - $20M, Credits - $22M). There is no information about the use of proceeds.

3.2
Medium
Ubex
UBEX is a decentralized advertising exchange, operating on the basis of neural networks with the use of blockchain and smart contracts.
Start
21.05.2018
End
30.08.2018
$ 6 000 000
Market
Product
Team
Model
Finance
Market

Except BAT, all other digital advertising blockchain platforms did not gain popularity and have ROI<1

Product

The product development started only in February 2018. Beta version is only expected in January 2019.

Team

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.

Model

Now it is only a little information given on the expected fee size. The unit economy is now unclear.

Finance

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.

3.2
Medium
Akash
Akash - marketplace of idle compute capacity
Start
16.10.2018
End
31.10.2018
$ 20 000 000
Market
Product
Team
Model
Finance
Market

Tough competition among successful blockchain projects

Product

The product is not far different from competitors and does not have any significant edge Only developers are able to test the prototype

Team

The team members are also engaged in Ovelock projects Lack of marketing and legal specialists Only 5 team members

Model

Not sold tokens will not be burnt and will be held by the company for future sales Own token applied has poor rational grounds

Finance

It is not clear how raised funds will be distributed

3.4
Medium
Moonlight
A decentralized platform, built on the NEO network for recruiting and scaling the workforce.
Start
11.08.2018
End
31.08.2018
$ 10 000 000
Market
Product
Team
Model
Finance
Market

Most of the current projects in this field did not gain significant ROI since ICO.

Product

No beta has been released yet. Overall, the roadmap now looks quite sketchy.

Team

Not every team member has page on LinkedIn. The team members are located in Detroit, Sydney, Singapore, Fort Collins. Some of the team members do not mention Moonlight as a workplace.

Model

The contracts conditions are not given.

Finance

The use of proceeds description is not detailed.

4.2
High
Fantom
Fantom creates a DAG based smart contract platform that solves the issue of scalability and confirmation time of the existing blockchain technology.
Start
15.06.2018
End
16.06.2018
$ 39 800 000
Market
Product
Team
Model
Finance
Market

Fantom is not the first platform based on DAG. IOTA, Byteball, Nano and Hedera Hashgraph already started developing projects with the same technology. Hedera Hashgraph aims to raise 18M USD, which is twice smaller than Fantom wants to attract.

Product

There is no link to GIthub or other source to track the product development As of May 15th 2018, Beta is not available

Team

Most of the team members are located in Korea, while some key employees are in Australia. One of the senior developers does not have any other experience stated on Linkedin. Not all of the team members have Linkedin profiles.

Model

It is now unclear how the platform will monetize its activity.

Finance

The company valuation - 100M USD - seems comparably high. The team does not clarify what "Market Development" reserved tokens will be spent for. The team gives a split of expenses only for 3 broad categories: Development, Operations, Marketing. This seems as a sketchy distribution.

3.6
Medium
3.6
Qiibee
Qiibee - loyalty on the blockchain.
Raising funds
9 000 000
Market
Product
Team
Model
Finance
3.4
PDX
PDX creates a next-generation public blockchain for infrastructure.
Raising funds
$ 10 000 000
Market
Product
Team
Model
Finance
3.0
Caspian Tech
Caspian is a complete asset management solution for crypto that covers the full lifecycle of the trade.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.4
AERGO
AERGO aims to create a scalable blockchain with 1M+ TPS.
Raising funds
$ 32 000 000
Market
Product
Team
Model
Finance
3.2
BOLT
Bolt is building a decentralized mobile-focused video content platform.
Raising funds
$ 12 000 000
Market
Product
Team
Model
Finance
3.6
Dusk Network
Dusk Network - decentralized infrastructure enabling anonymous and secure data transmission
Raising funds
$ 14 400 000
Market
Product
Team
Model
Finance
2.8
PayGine
PayGine is an open financial platform with an open API used to operate within its proprietary banking structure to serve FinTech and crypto-business.
Raising funds
30 000 000
Market
Product
Team
Model
Finance
3.2
Lambda
Lambda is a scalable data storage infrastructure project for blockchain.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.4
Emotiq
Emotiq is a next-generation blockchain with powerful scalability and privacy with a natural-language approach to smart contracts.
Raising funds
$ 60 000 000
Market
Product
Team
Model
Finance
3.0
MoonX
MoonX – decentralized exchange with higher transaction speed
Raising funds
$ 30 500 000
Market
Product
Team
Model
Finance
2.6
Fysical
Fysical is the infrastructure for the transparent and compliant exchange of location data.
Raising funds
$ 18 000 000
Market
Product
Team
Model
Finance
3.4
Bottr
Bottr is an ecosystem powered by smart messaging that rewards you for doing and sharing with others what you love and know.
Raising funds
$ 2 000 000
Market
Product
Team
Model
Finance
4.2
Telegram Open Network (TON)
Telegram Open Network (TON) is a fast and inherently scalable multi-blockchain architecture. TON can be regarded as a decentralized supercomputer and value transfer system. By combining minimum transaction time with maximum security, TON can become a VISA/Mastercard alternative for the new decentralized economy.
Raising funds
N/A
Market
Product
Team
Model
Finance
2.4
GEMS
Gems is a decentralized, open-sourced, human task crowdsourcing protocol built on top of the Ethereum blockchain.
Raising funds
N/A
Market
Product
Team
Model
Finance
3.8
Ankr
Ankr – blockchain transforming computing of classic Proof-of-Work algorithm to useful computations
Raising funds
$ 16 000 000
Market
Product
Team
Model
Finance
3.2
Tolar HashNET
Tolar is an open source, community governed crypto-currency featuring scalable, fast, secure, and fair transactions.
Raising funds
$ 10 000 000
Market
Product
Team
Model
Finance
3.2
Ubex
UBEX is a decentralized advertising exchange, operating on the basis of neural networks with the use of blockchain and smart contracts.
Raising funds
$ 6 000 000
Market
Product
Team
Model
Finance
3.4
Akash
Akash - marketplace of idle compute capacity
Raising funds
$ 20 000 000
Market
Product
Team
Model
Finance
4.2
Moonlight
A decentralized platform, built on the NEO network for recruiting and scaling the workforce.
Raising funds
$ 10 000 000
Market
Product
Team
Model
Finance
3.6
Fantom
Fantom creates a DAG based smart contract platform that solves the issue of scalability and confirmation time of the existing blockchain technology.
Raising funds
$ 39 800 000
Market
Product
Team
Model
Finance
1
2
3
4
5
6
7
Load more
Social networks
© ICO Scoring - ICO Analytical platform backed by investors and financial experts. All rights reserved 2018