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Past ICOs

128Past 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
ioeX
P2P network for transferring and storing data based on blockchain technology.
Start
01.11.2018
End
30.11.2018
$ 27 200 000
Market
Product
Team
Model
Finance
Market

The competitive advantage over similar IoT blockchains is unclear The current low level of blockchain scalability poses significant limits to the growth of blockchain in IoT.

Product

The roadmap is vague and does not give a deep understanding of the product development. The competitive advantage over similar IoT blockchains is unclear There is no link to GitHub to track the product development.

Team

The blockchain experience cannot be verified. The experience of most of the team members cannot be verified.

Model

It is unclear if the token is ERC20 compliant

Finance

The Soft and Hard Caps have not been released yet. There is no information about the token lockup schemes for founders and early investors. There is no information about the sale rounds terms The similar projects, except IOTA, did not gain high ROI since ICO

3.4
Medium
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
NNS
NNS – service transforming long NEO addresses to short and human-friendly ones
Start
01.01.2018
End
01.07.2018
N/A
Market
Product
Team
Model
Finance
Market

The auction activity may decrease in the 3rd month taking into consideration Ethereum ENS statistics

Product

No sufficient risks were found

Team

LinkedIn profiles are rather formal and do not consist valuable information

Model

The project is incorporated in China causing possible legal problems for investors

Finance

The project is non-profit but it is usual for NEO infrastructural products

4.2
High
Kambria
Kambria is a decentralized open platform for robotics development.
Start
16.06.2018
End
15.07.2018
$ 25 000 000
Market
Product
Team
Model
Finance
Market

Kambria is not the first project aiming to create an AI & Robotics development platform on blockchain. Recently, singularity.net and effect.ai, projects working in the same field, conducted ICOs and raised $36M and $13.5M respectively. Singularity.NET has a team of strong AI specialists and already launch Alpha Version of the product. Botchain by Talla is working in the same area and will soon announce Public token sale.

Product

The Beta version is not available and will only be released in June - December 2018. The team does not provide a GitHub link to track the progress of development. The team promised to open source and provide complete KDNA for the entire Ohmni robot to jumpstart the development of Kambria. For 9th of May 2018, it has not yet been published. The given roadmap only describes the product development up until Q1 2019 with just 2 milestones.

Team

All of the co-founders are still employed at Ohnmi Labs - it might be a risk for scaling Kambria. Some of the team members do not state Kambria as a workplace on LinkedIn

Model

The stated fee size might be amended at the later stages of the product development.

Finance

The team will reserve 20% of tokens for itself using vesting scheme. However, this number is comparatively large. The OhmniLabs (which is created by the founders of Kambria) reserves 10% of the tokens, so additional 10% will be held by the core team. The team does not allocate funds for legal issues in its expenses pie chart. The amount of anticipated funds spend on marketing (35%: $4.2M - $12.5M) seems overvalued.

3.6
Medium
Quadrant Protocol
Quadrant Protocol – protocol for checking data authenticity
Start
01.06.2018
End
01.07.2018
$ 20 000 000
Market
Product
Team
Model
Finance
Market

Tough competition with similar blockchain projects Lack of significant edge on competitors

Product

Product overcome authenticity problem and does not allow to change data elements but does not solve the problem of fake raw data Lack of rational grounds to such a long and intricate value chain It is impossible to track project’s development and check the current stage of development

Team

Possible poor focus on the project due to DataStreamX activity Lack of experienced legal and relevant blockchain specialists

Model

Other platforms may be applied but there are no details which ones

Finance

Overestimated hardcap – 20M USD Lack of details regarding the reserve of 20% of tokens

3.8
Medium
CarryProtocol
Carry is a platform that connects offline merchants and consumers, makes personal data fair for everyone and makes marketing clear and effective using blockchain.
Start
26.08.2018
End
09.09.2018
$ 44 000 000
Market
Product
Team
Model
Finance
Market

Serviceable addressable market is significantly less, than total offline retail market.

Product

Product is not developed. No unique technology in product.

Team

Almost all team is former Spoqa workers, however, it is hard to prove, that all team is fully involved in Carry Protocol.

Model

Significant investments is needed for implementing such model.

Finance

Hard cap is too high, project is overvalued.

4.2
High
Quark Chain
Quark Chain aims to create a high-throughput blockchain with 1000000+ TPS (Transactions Per Second).
Start
15.05.2018
End
15.06.2018
$ 20 000 000
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. In order to solve this problem, several projects have already launched the alternative protocols that aim to significantly increase the throughput of the blockchain protocols. For instance, EOS launched its infrastructure for dApps, which Test Network can sustain over 10,000 TPS. EOS raised 197M during its ICO in June 2017 and now is the 5th largest cryptocurrency in the world by market cap. IOTA is able to process 500-800 TPS, raised 400M and now 11th by market cap in the world of cryptocurrencies. That is why the potential growth and community attention to Quark Chain might be lower.

Product

The test net Alpha Version was released in March 2018 and it supported 2000+ TPS. It is a decent result but it is too far from the declared througput of 1M+ TPS. The product has been in development for 4 months only, according to GitHub. There is no information about patent applications

Team

Some of the declared team members does not have Quark Chain as a workplace on their Linkedin Pages. There are 3 Research Scientists in the project team and it is unclear what roles they have. The team has strong technical background but this experience mainly comes from large corporations. There is no one in the team with track record of launching and scaling startups.

Model

Now there is no information on the expected size of the fee.

Finance

Most of the financial details have not yet been released and are TBA.

4.2
High
Airchain Network
Airchain - a platform implementing blockchain in freight industry
Start
14.05.2018
End
14.06.2018
$ 25 000 000
Market
Product
Team
Model
Finance
Market

Tough competition from the established companies Poor Value Proposition for a potential user

Product

Scalability problem due to the poor motivation for third-party travelers and their poor coverage together with possible lack of trust from senders Demo stage of the product with no significant functions working

Team

The lack of industry experience in the team Half of team members do not have LinkedIn profiles

Model

Own token and further own blockchain do not give significant advantages to the product

Finance

High token share for team and advisors – 33% Overestimated Hardcap – 25M USD No financial estimation available No detailed information on funds raised usage

2.4
Low
The Acorn Collective
Crowdfunding platform
Start
26.05.2018
End
24.06.2018
$ 35 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.4
Medium
INGOT Coin
Creating a one-stop-shop Ecosystem that will link the Crypto markets to the current financial markets.
Start
01.07.2018
End
11.08.2018
$ 90 000 000
Market
Product
Team
Model
Finance
Market

INGOT Coin solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform. The regulation behind managing and investing funds might be a significant barrier to growth for INGOT Coin. There are already several projects aiming to create tools simplifying ICO investments, which already raised money. For instance, BankEx which creates PoA protocol to tokenize different types of assets, already raised 70M USD and is about to launch asset-backed exchange. There are already working cryptowallets and crypto-to-fiat exchanges that have large paying customer base. That is why in this industry the probability of success of Ingot coin is very small.

Product

The product development start and the current stage of development is not clear. The product description is long but most of the provided information is redundant and does not make it clear to understand the product advantages. The project claims to provide high levels of liquidity in its proprietary exchange. However, the team does not even give an idea of how this liquidity will be delivered. The project has quite an ambitious roadmap which does not seem feasible. MVP is not available.

Team

There are no specialists with technical background in processing and acquiring data from exchanges. The CEO does not have previous experience in the financial industry. Most of the core team members have business majors and does not have previous technical experience. Most of the team members previously worked at INGOT Group companies, such as SIgma Investments LTD, INGOT Brokers, and others. However, there is no available information about the track record of these companies. There is no CTO in the project. Now, there are just 2 technical specialists in the team, according to their website.

Model

There is no information on the fee size. The business model description is sketchy and does not give a good explanation of how the company will earn. It is unclear how the rest 5 components of the Ecosystem(apart from Exchange) will earn money.

Finance

The soft cap of 35M USD seems to be way above the median figure of comparable companies. The hard cap of 90M USD seems to be way above the median figure of comparable companies. The hard/soft cap ratio is around 3 which allows to assume that the project wants to attract as much money as possible and does not have a clear understanding of required budget. As the company will sell 75% of its tokens, the project valuation will be around 120M USD which is a tremendous value for a project without available MVP.

2.4
Low
Ocean Protocol
Ocean Protocol – a database trading platform for Artificial Intelligence technology development.
Start
07.03.2018
End
07.04.2018
$ 22 300 000
Market
Product
Team
Model
Finance
Market

Strong potential competition from similar blockchain projects

Product

No prototype or MVP available The roadmap is not detailed enough so that it would possible to judge project’s plan

Team

No legal specialist in the team was found

Model

Tokens will be available on exchanges only in 2019

Finance

Lock up period of 1 year is very risky with the project with no MVP and unpredictable government ICO regulations Low share of tokens for crowdsale raising the uncertainty about the token price volatility in the future High maximum cap of token pool of 300M USD raising the risk of overestimation No financial estimations and model provided

3.6
Medium
PATRON
PATRON is a one stop shop for social media influencers worldwide.
Start
27.03.2018
End
08.05.2018
$ 40 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.4
Medium
Skrumble
Skrumble – application setting a secure connection and providing decentralized and encrypted file storage
Start
28.04.2018
End
28.05.2018
$ 12 000 000
Market
Product
Team
Model
Finance
Market

Risks of government influence due to the function of restriction avoidance

Product

Beta is available only for private testing

Team

Possible poor focus on project if the team continues to be engaged in projects of Skrumble’s clients Lack of legal specialists

Model

Uncertainty regarding the Practical Byzantine fault tolerance consensus algorithm application

Finance

Low tokensale share – 26% only More than half of tokens is held by the team and advisors – 54% The lack of target financial estimations

3.8
Medium
CryptonsGame
CryptonsGame is the first gamified crypto-universe based on blockchain with rich history and endless possiblities, including a marketplace, missions, video games and even a series of card games
Start
06.04.2018
End
31.05.2018
$ 250 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
NKN
NKN (New Kind of Network) is the new generation of highly scalable, self-evolving and self-incentivised, decentralised network.
Start
19.04.2018
End
19.05.2018
$ 6 000 000
Market
Product
Team
Model
Finance
Market

Market has almost no growth and strong market leaders.

Product

Product is not ready jet.

Team
N/A
Model

Bandwith of most users is restricted by their providers.

Finance

The incentive to share data transmission capabilities should be higher than costs for doing that.

4.2
High
AlphaMarket
AlphaMarket is a trading platform that allows you to pay for goods with cryptocurrency.
Start
16.04.2018
End
01.10.2018
$ 24 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.6
Low
Kasko2go
Kasko2go is a smartphone-based insurance solution on demand, that already offers an individual approach to every client in Russia and Ukraine. The insurance coverage is per minute, kilometer or day.
Start
31.05.2018
End
30.07.2018
$ 3 000 000
Market
Product
Team
Model
Finance
Market

The insurance market is highly regulated in many countries. First markets for the project is Russian Federation and Ukraine.

Product

There is only few hundreds downloads of current version of mobile app. According to roadmap, already there have to be 15000 users in Russia. The earlies version of the mobile app was realized in December 2017. It is almost impossible to calculate repair costs after accident without detailed analysis of the car. (only by photo) There is no own insurance company. Usage-based Insurance is going to be in partnerships with other insurance companies.

Team

All Kasko2go team located in Ukraine and Russia, except Advisors and investors.

Model

Business model is not proved nowadays. It is unclear, why insurance companies should work with Kasko2go. All business fully depends on partnerships with insurance companies, there is no own insurance company.

Finance

Substantial decrease of insurance premium would not lead to maximum profitability. No exact expenses are presented.

3.2
Medium
Merculet
Merculet is a decentralized platform that aims to save the lost attention of customers in digital fields and pay them for the quality attention.
Start
25.04.2018
End
30.04.2018
$ 15 700 000
Market
Product
Team
Model
Finance
Market

There are several digital advertising decentralized platforms that are in some way similar to Merculet: Basic Attention Token - BAT (195M USD), AdToken (17M USD), Adbank (4.3M USD). The market of digital advertising has moderate growth rates at around 7% per year.

Product

The stage of product development for now is not clear. Beta version only planned for Q2 2018. MVP is not ready yet. Despite the fact that the team describes and aims to develop several technical layers on the platform, there is no technical description of the tools.

Team

The whole size of the team is not clear.

Model

The model description is very sketchy and the value added is not clear. It is not clear how the project will earn.

Finance

Post-money valuation of Merculet (if ETH is 430USD) will be around 52M USD, which is a huge number for a project without MVP. There is no information about vesting scheme for the 20% tokens reserved for the team.

3.2
Medium
Dynatiq
On Dynatiq, you can sell your online business (including domains, websites, source codes). Dynatiq is decentralized service with 0% fee.
Start
25.04.2018
End
09.06.2018
$ 2 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
Pchain
PCHAIN is the first native multi-chain system which supports EVM which makes it possible to apply blockchain at large scale.
Start
26.05.2018
End
28.05.2018
$ 25 000 000
Market
Product
Team
Model
Finance
Market

The market of blockchain platforms is highly competitive. A lot of projects are entering this market with the familiar entering.

Product

Product has not been developed yet.

Team

No information about the company in team’s LinkedIn Profiles. The team has technical focus, the business part of the team is not strong enough.

Model

There is no information about mining conditions and opportunities. Benefits for token holders is not described.

Finance

The project is overvalued for current development stage. The financial model has not been presented.

3.8
Medium
OneLedger
OneLedger – decentralized platform for different blockchains integration
Start
10.05.2018
End
10.06.2018
$ 15 000 000
Market
Product
Team
Model
Finance
Market

Tough competition in sidechain development OneLedger is lagging behind in product development in comparison to competitors Lack of competitors’ analysis and market-entry strategy

Product

No prototype available Unclear milestones for launching product modules

Team

Poor team experience in blockchain projects Lack of marketing and legal specialists

Model

Monetization model is unclear

Finance

Product options for different fundraising scenarios are nor described No financial estimation and detailed usage of funds raised

3.6
Medium
Solve.Care
Solve.Care is a platform that utilizes blockchain technology to decrease clinical and IT costs associated with healthcare.
Start
31.03.2018
End
15.04.2018
$ 29 750 000
Market
Product
Team
Model
Finance
Market

Healthcare industry is subject to extensive regulation at both the federal and the state level. There are various projects trying to benefit the healthcare segment via decentralized platforms conducting ICOs.

Product

Now, only the Care.Wallet 1.0 is ready. It is not possible to test the app now, the team only gives a short demo video of the product.

Team

The project team is spread around 3 locations which may cause discoordinations and slower pace of project development. It is not clear who is responsible for blockchain technology development competencies in the team. The web development TL has degrees in economics and law, though he had some previous programming experience.

Model

The team does not give an estimation of the size of fees collected. The adoption of the business model is subject to heavy regulations from the state.

Finance

The amount of tokens reserved for the team (18%, 180000000 CAN) is a relatively large number. The existence of two different digital currencies may confuse some costumers. The project post-money valuation, which is 100M USD, is way above the median number for comparable projects.

3.2
Medium
Sentinel Protocol
Security intelligence platform for blockchain.
Start
10.04.2018
End
20.04.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

Currently there is no incentives for cybersecurity experts to share information with each other.

Product

The product is not ready now. The product value highly depends on cybersecurity experts.

Team

Team is located in different countries – South Korea, Japan, Singapore and USA. Team has just been formed. There is no evidence that prove their efficiency.

Model

The biggest risk – cooperation with exchanges. If most part of exchanges does not implement this protocol, it will have small value. Indirect way of compensation could be unattractive for cybersecurity experts.

Finance

Absolutely no information about finances now. Revenue streams are not clear.

3.6
Medium
Traceto
Traceto – service conducting KYC/AML procedures and verifications for ICO and non-ICO projects
Start
01.04.2018
End
30.04.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

Competitors are close to their product release final stages Poor token price performance of comparable projects when entering exchanges Lack of detailed market-entry strategy

Product

No prototype available

Team

Traceto and Cynopsis are simultaneously developed by the team increasing the risk of softening the focus CEO is engaged in 3 projects including other ICO projects being an advisor No specialist with strong marketing experience

Model

Lack of decentralization and not reasonable blockchain application

Finance

Overestimated and pointless hardcap for project realization Too high token pool capitalization of 100M USD Poor share of tokens for tokensale (30%) with high team share (>50%) breaking decentralization principles and makes it possible to influence on token price Company does not provide any financial estimations of its business

3.2
Medium
Loki
Loki combines a private transaction network based on Monero with economically incentivised service nodes to create a trustless quorum based networking protocol. This protocol allows anyone to route small packets of data in an anonymous and decentralised way
Start
01.03.2018
End
26.03.2018
$ 9 027 000
Market
Product
Team
Model
Finance
Market

Status and Mainframe are two blockchain messaging service projects that provide people with the ability to communicate with one another and carry out transactions in a secure and private manner.

Product

Many of the solutions that Loki is working on are in fact proposed by the team behind Monero itself, should the Monero Network undergo an upgrade, it might be able to stand next to Loki. There is no information about how will the Loki token’s value be sustained and increased other than using them to incentivize the running of service nodes and mining The project is still in an early state, SNApp prototypes and the SNApp Software development kit will not be introduced before 2019. It is not clear if another messenger will be demanded by the larger audience.

Team

CEO of the project does not have strong technical background and is majored in Music. CTO of the project is still studying his Bachelor's Degree in Computer Science. One of the engineers does not mention Loki on his social network pages. No team member with significant token sale structure expertise No team member with significant token economics expertise

Model

Does little to ensure the sustainability of its native currency other than having it play a role in the node operation of the network

Finance

Currently, there is not any information available on how funds from the token will be allocated.

3.8
Medium
NEX
NEX - cryptocurrency exchange, combining advantages of both decentralized and centralized exchanges
Start
03.09.2018
End
14.09.2018
$ 25 000 000
Market
Product
Team
Model
Finance
Market

NEX is likely to face strong competition among cryptocurrency exchanges

Product

No prototype available The roadmap is not detailed enough

Team

Poor marketing experience in the team It is not clear who manages the team Lack of an experienced legal specialist who could cover a security issue of the token

Model

Legal risk of token being a security The team assumes changing the role and functions of the token

Finance

It is not clear how NEX will distribute funds raised in ICO Not financial estimations available. As the token gives an opportunity to get a part of profit, investors should understand it

3.8
Medium
Atonomi
Atonomi provides a new security protocol and infrastructure to enable billions of IoT devices to have trusted interoperability for both data and commerce.
Start
04.06.2018
End
06.06.2018
$ 25 000 000
Market
Product
Team
Model
Finance
Market

Project do not have exact focus on certain markets.

Product

Current development stage is not clear. Roadmap is not presented in current version.

Team
N/A
Model
N/A
Finance

Financial model has not been presented. Hard cap has not been presented.

4.0
High
Nebula AI
Nebula AI is committed to building a decentralized artificial intelligence computing blockchain (NBAI) that reduces the energy costs of traditional Proof of Work by converting GPU mining machines into AI computing services.
Start
02.04.2018
End
30.04.2018
$ 11 000 000
Market
Product
Team
Model
Finance
Market
  • Innovative companies are rushing to create real-world business applications that combine artificial intelligence (AI) and blockchain technology.
Product
N/A
Team
  • The founder is involved in his previous startup, and this might be in conflict with the project development.
  • Some of the team members do not work at Nebula AI, according to their Linkedin.
  • Experience of some of the team members cannot be verified via Linkedin.
  • The page of the blockchain developer was not found on Linkedin
Model
N/A
Finance
  • There is no information on how the funds will be spent. Post-money valuation is well above the median valuation of comparable companies.
3.4
Medium
Codex Protocol
The Codex is a decentralised title registry for Art & Collectibles backed by a strong consortium industry.
Start
24.07.2018
End
30.07.2018
$ 20 000 000
Market
Product
Team
Model
Finance
Market

Codex isn’t the first to see the benefits of blockchain in the art world. Verisart is a Los Angeles-based startup founded by the former CEO of Saatchi Online and Sedition Art, that launched in 2015. Verisart’s mobile app uses the bitcoin blockchain to let artists, collectors and dealers verify provenance in real time. Artchain.info is another startup using blockchain to generate certificates of authenticity. In this field, it is also worth noticing Everledger, Ascribe, Blockai, and Monegraph. The further steps of product development(i.e. after launching Biddable and Sellable) are not clear from WP.

Product

It is not clear how the registration of A&C items with history of ownership will be conducted. Even though the team explains how they will address the risk of linking physical items to digital records, this question still has to be considered.

Team
N/A
Model
N/A
Finance

It is worth noticing that the company will issue two tokens: one is ERC-20 compliant and the second is ERC720-compliant i.e. the second token is non-fungible. Now, there is no information regarding hard/soft cap, expenses distribution, etc.

3.6
Medium
BitCar
Peer-to-Peer exotic car trading platform
Start
31.01.2018
End
20.04.2018
$ 22 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.4
Low
Seele
Seele is powered by an up-scalable Neural Consensus protocol for high throughput concurrency among large scale heterogeneous nodes and is able to form a unique heterogeneous forest multi-chain ecosystem.
Start
03.04.2018
End
04.04.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

The project aims to create Blockchain 4.0. The team names Bitcoin "Blockchain 1.0", Ethereum "Blockchain 2.0", EOS "Blockchain 3.0". This gradation does not seem convincing, as neither so called "Blockchain 2.0" nor "Blockchain 3.0" has been developed.

Product

The team banns people asking clarifying about the project on telegram chat. it claims to be "Blockchain 4.0", meanwhile its GitHub is only 15 days old. Claiming to be "blockchain 4.0", while putting Ethereum as "Blockchain 2.0" and Bitcoin as "Blockchain 1.0" is completely irresponsible. Project claims to be "multi-chain ecosystem" and Blockchain 4.0, meanwhile it creates ERC-20 standard tokens based on Ethereum blockchain. According to the white paper, "From the random selection of nodes in the consensus process,... the user calculates from his private key whether or not it is selected... this random selection process is non-interactive, the attacker could not in advance know which nodes are selected". It's not an accurate statement, since attacker knows HIS OWN private key According to the whitepaper "with s not less than 20%, for the system that failure of the node does not exceed 40%, are able to achieve the overall system convergence. If the value of s is high, the fewer number of convergences are required, the better" That's a completely incoherent statement. Twitter account and Bitcointalk thread were created at the end of January, Heterogeneous Forest Network is supposed to be a multi-layer blockchain structure, while this structure is absolutely possible, we don't have any practical tests or calculations that can prove scalability of this particular network; There are no confirmations and tests from verified by independent 3d party; Per official website "Our network and consensus not only concept proven, but also prototype verification in our test network. we're trying to test in more larger scale network", however there are no publicly available prototype that is opened for public test therefore this statement can't be supported by evidence; The whitepaper has references to Wikipedia,

Team

The CEOs are not blockchain experts. If you search for the CEOs and others in their universities homepage, such as Dr. Bi Wei, you can see that he was a Glaucoma researcher there. If you do it with the other members, too, you'll see that they have been PhD students there but that's it. Nothing blockchain related at all. Lack of advisers: only two advisers are represented on the official website, both do not seem trustworthy and do not have sufficient experience. UCL CBT confirmed that Seele does not have partnership with the society. All other partnerships on the website were not confirmed.

Model

The project aims to create "Blockchain 4.0" but issues ERC-20 tokens based on Ethereum. Seele aims to create a platform for new blockchain and does not provide information regarding the commercial viability of the platform.

Finance

The project aims to raise 30M USD by selling 48.25% of SEELE tokens. This gives post-money company valuation around 62M USD. This figure seems way above the median valuation of comparable companies, using Pithcbook data. There is no information on the distribution of expenses. The minimum contribution-level during ICO is not given. It is worth noticing that the investors in the ICO of the project were scammed and robbed for $2 million worth of ETH. The scammers were the impersonators of Seele ICO employees.

2.2
Low
Winco
Decentralize the financing of startups, the franchise market and the real estate market and integrating physical and digital assets, used in these ventures as a payment form.
Start
19.02.2018
End
29.03.2018
$ 84 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.4
Low
LocalCoinSwap
P2P Crypto marketplace
Start
15.03.2018
End
15.06.2018
$ 500 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
OneToTwo
The first gaming platform with the simplest algorithm and the highest winning percentage
Start
15.03.2018
End
16.06.2018
$ 6 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.6
Low
Moss Coin
Moss Coin is a currency to buy real estate and real estate accessories inside of the AG mobile game
Start
12.03.2018
End
08.04.2018
$ 60 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.2
Medium
Skychain
Skychain intends to provide an infrastructure to radically increase the efficiency of healthcare AI development and training.
Start
26.02.2018
End
31.03.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.0
Medium
PolicyPal Network
PolicyPal Network is a new generation of an insurance company. It would provide insurance for crypto assets and P2P Mutual Aid Products for Emerging Markets.
Start
08.03.2018
End
10.03.2018
$ 21 000 000
Market
Product
Team
Model
Finance
Market
N/A
Product

There is no even alpha version of the blockchain product. Roadmap is extremely ambitious, within 1 year almost everything have to be done.

Team

Founders have great, but mostly corporate experience.

Model
N/A
Finance

The financial model was not presented.

4.2
High
Noxbox
Noxbox - blockchain service that allows you to obtain the service you need in the right place at fair price and at convenient time
Start
01.03.2018
End
29.03.2018
$ 4 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
dock.io
Dock.io is a decentralized data exchange protocol that lets people connect their social profiles across different web services with privacy and security.
Start
21.02.2018
End
25.02.2018
$ 20 000 000
Market
Product
Team
Model
Finance
Market

The market of professional networks looks quite fragmented and established, that is why it is unclear if dock.io will be able to gather all the users from different platforms in one place. The motivation for users to switch from their current professional network platforms to dock.io is unclear.

Product

The platform will run on Ethereum Blockchain and will need a relatively high transaction throughput to operate with such a large number of users and applications. That is why, there are potential scaling problems. Some of the alpha version elements (for instance, importing data from LinkedIn page) were copied from Remote.com interface. Also, the bounty campaign of the platform looks too generous. The team gives tokens for a very simple task, such as following the company's pages on social networks.

Team

However, the core team of Dock is currently involved in another related but still different project - Remote.com.

Model

The users may not be interested in sharing their personal data without getting any reward in return. It is not clear how the platform will make money.

Finance

The Use of Funds is not given in a detailed way and there is no financial plan for anticipated expenditures. The team aims to raise 30M USD by selling 30% of tokens. This gives company's valuation around 100M USD. This figure is way above the post-money valuation of comparable startups on the US market, according to PitchBook data.

3.4
Medium
Right Mesh
RightMesh – mobile mesh network platform and protocol aiming to promote decentralized Internet in developing countries
Start
15.02.2018
End
31.03.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

Larger market players are able to overcome the problem stated by Rightmesh more effectively with their vast experience Not detailed market entry strategy

Product

No prototype available for testing The project is considered to be complicated enough and tries to overcome a global problem, such aims are too optimistic on the current stage of development The obstacles may rise when buying cryptocurrency in developing countries that may be a barrier for Rightmesh

Team

Generally the team combines the work under the project with work at another companies including CEO The project includes serious technology implementation but the project suffers the lack of experienced technical specialists

Model

Rightmesh uses too categorical speech concerning their competitors, government and blockchain projects highlighting an unfair situation with the Internet in the world and the uniqueness of Rightmesh’s concept without any constructive analysis. It seems that Rightmesh hopes to attract investors mostly on emotional level Token utility for project functionality is not proven, so the token price rise stimulus is not clear

Finance

Low share of tokens for crowdsale – 30%, breaking market mechanism of setting the fair price for token No financial estimation provided Funds raised usage is not described in details so required funds may be unreasonable

2.6
Low
TomoCoin
TomoCoin - an efficient blockchain infrastructure for decentralized applications, token issuance and integration.
Start
01.03.2018
End
01.04.2018
$ 8 500 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.6
Medium
Adblurb
Adblurb not only offers Unique Ad marketplace but also solve issues regarding current e-commerce and crowdfunding.
Start
01.03.2018
End
30.05.2018
$ 10 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.6
Medium
AIDA Service
AIDA SERVICE provides automated sales and services without intermediaries. Our users are Customers, Producers, Logisticians, Warehouses and Network Partners.
Start
28.02.2018
End
25.05.2018
$ 15 000 000
Market
Product
Team
Model
Finance
Market

AIDA aims to deliver mainly construction materials through its services. The supply chain of construction materials is considered as a capital-intensive industry and so the team has to take it into consideration. There are several crypto startups in logistics that already raised money(Shipchain, Slogn). For instance, ShipChain raised 30M USD in by January 2018.

Product

The sphere AIDA is entering requires taking into consideration the country-specific characteristics of supply chain. However, the team wants to expand globally but does not provide the expansion roadmap and target countries. Currently, the MVP is not available, so it is not possible to test the product. Also, AIDA has no customers now. The team says that they will use Blockchain for a faster settlement of trades between counterparties. However, the team will use Ethereum Blockchain which is not highly scalable and can only support 15 transactions per second. The team aims to enter all CIS markets by Q4 2018 and expand to Americas in Q3 2019. However, the team has no previous experience of scaling any projects at the global level. Therefore, the provided expansion road map does not seem convincing. Also, the problem of corruption in supply chain that AIDA tries to tackle is not globally common. That is why, the team has to rethink its main goal during global expansion.

Team

CEO of AIDA (Nysanov Ualikhan) does not have strong previous experience in technology. Even though he has profile on LinkedIn, his previous experience is not clear. IT Director's experience (Denis Goncharenko) cannot be verified using linkedin. Several developers of the platform are still students and AIDA is their first experience. To sum up, the whole team experience is not clear and there are strong doubts that they will be able to deliver everything outlined in WP.

Model

AIDA will charge its customers 1%, while the average among competitors is around 15-20%. The team does not explain how this lower level commission will lead to profitability of the project. AIDA aims to deliver mainly construction materials through its services. The supply chain of construction materials is considered as a capital-intensive industry. The team does not explain how they will avoid or optimize these costs.

Finance

The team does not clearly state how many funds they aim to raise. There is no information about neither soft cap nor hard cap. The team does not state how many tokens they will issue. AIDA will reserve 20% of tokens for the core team. This figure seems high and there is no vesting scheme for bonus.

2.2
Low
TokenStars TEAM
The first celebrity management platform on the blockchain, providing advanced tools and incentives for deeper interaction between stars, fans and advertisers.
Start
20.12.2017
End
28.02.2018
$ 5 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

3.6
Medium
Unibright
Unibright is the first platform for fast and easy integration of blockchain based solutions to business and ERP systems.
Start
20.04.2018
End
10.05.2018
$ 2 200 000
Market
Product
Team
Model
Finance
Market

Uncertain regulatory status and a common set of standards might hinder the overall growth of the market.

Product

It is impossible to try beta-versions of the product, as a result, it is impossible to verify development status.

Team

Risks and uncertainties were not identified.

Model

Risks and uncertainties were not identified.

Finance

Financial model is not prepared, as a result, it is impossible to estimate future profits.

3.8
Medium
Datawallet
DataWallet is a Consumer-to-Business (C2B) data marketplace with a mission to allow personal internet users to reclaim the profits made with their data, and give enterprise clients access to the best data of all times.
Start
05.02.2018
End
05.03.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

The CEO provides forecast from 2012 year. Potential use cases have strong non-blockchain competitors.

Product

Blockchain product is not ready and there is no deadline for it. There is no incentives for developers to use Datawallet API.

Team

Most part of founders team joined in the last 3 months. Founders lives in 3 countries: USA, Germany and Italy. Some of team members does not mention connections with the project in LinkedIn

Model

There is no incentives for users to share their data on the platform.

Finance

There is no monetization plan. The last founding round was 100 times less, than current goal.

3.0
Medium
Insights Network
The Insights Network is a conglomerate of Consumer Applications on mobile and web specializing in the collection of targeted consumer data that rewards users in digital currency for participating.
Start
05.02.2018
End
05.03.2018
$ 24 000 000
Market
Product
Team
Model
Finance
Market

The main concern for the consumer data market growth is the risk of compromising Vital Consumer Data. The largest players of this segment are Acxiom, Nielsen, and Experian which cover more than a half of the American consumer data market.

Product

The product is only on a concept stage and the alpha version has not yet been launched. It is worth noticing that the issued ERC-20 tokens will be later replaced by EOS tokens. The EOS Blockchain has not been itself launched. The popularity of the platform will heavily depend on the network effect i.e. how many people will register on Insights Network. The given roadmap is not enough detailed and only highlights some of the product development stages.

Team

The team is spread around the globe. According to Linkedin, the employees are located in San Francisco, Chicago, and Copenhagen.

Model

There is no information on how INSTAR will earn its money, so the commercial viability of the platform is not clear. The popularity of the platform will heavily depend on the network effect i.e. how many people will register on Insights Network.

Finance

The Use of Funds is not given in a detailed way and there is no financial plan for anticipated expenditures. There is no information about Soft Cap. 30% of tokens will not be available for sale and will be kept by team. There is no information about vesting scheme for the team reserves. There is no information about escrow in case the hard cap will not be reached.

3.4
Medium
Eroiy
The anonymous and safe payment method of the adult industry.
Start
01.03.2018
End
31.03.2018
$ 48 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
Pingvalue
Pingvalue is a people-centric open platform that innovates the current socio-economic model by enabling relevant and trustworthy interactions/transactions between people and businesses/institutions.
Start
11.02.2018
End
01.04.2018
$ 30 000 000
Market
Product
Team
Model
Finance
Market

Highly competitive market of online advertising and social network Strong network effect on both markets. Project is going to become local player.

Product

Product does not include blockchain-technology. Less than 500 loads of mobile app throughout whole 2017 year.

Team

Team consist of 33 people, which is too much for current stage. Tech and R&D team consist of 18 people, but white label does not have technical part.

Model

Roadmap of product does not include development of blockchain-based solutions.

Finance

Project is overvalued. Second round of financing was less than the first one.

2.4
Low
Etheera
The Future of Global Real Estate including Portal + ALL IN ONE Software.
Start
16.01.2018
End
17.03.2018
$ 6 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.2
Low
WELL
WELL is a healthcare Blockchain platform that aims to connect healthcare specialists and patients worldwide.
Start
16.04.2018
End
15.05.2018
$ 3 000 000
Market
Product
Team
Model
Finance
Market

The main competitors of WELL are local players, such as Teledoc in the US, Chunyu Yisheng in China, or Doc+ in Russia, with a long-lasting local market expertise. There are many potential legal issues regarding telehealth that have to be considered during the global expansion.

Product

As WELL aims to expand globally it has to pay significant attention to potential legal issues with local authorities regarding processing sensitive patients' health data. As telehealth is a relatively new method of healthcare assistance, its standards and boundaries has not yet been defined in every country, so this regulation aspect has to be considered. The legislation of online prescribing is not clearly regulated, and this legal risk has to be considered. The Roadmap only highlights the main steps and does not give detailed information about product development.

Team

The founder and CEO of Well - Ildar Fazulyanov - has strong experience but it is mainly related to the area of finance, not healthcare. Co-founder's of the company experience is also mainly focused on finance, fintech and private equity, not medicine. According to Development TL's experience on Linkedin, he is not currently employed at Well. Moreover, he resides in Bankok, Thailand, not in Los Angeles as the rest of the team. To sum up, the business development part of the team is quite strong, while it seems that WELL lacks technical and industry expertise.

Model

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

Finance

The Use of Funds is not given in a detailed way and there is no financial plan for anticipated expenditures. Including pre-sale, the ICO will last for 5+ months. That means freezing investors' money for almost half a year and definitely has to be taken into consideration. Moreover, there is no information about the token delivery date in WP. The company aims to raise 28 million USD via selling 40% of tokens. This gives us post-money valuation of WELL at the level of 70 million USD. This figure is significantly above the valuation of comparable companies on the US market, according to Gartner. WELL does not provide financial forecasts for the company growth. As of now, there is no information about potential listing of tokens. As WELL will give generous bonuses for early-contributors, the pump and dump risk right after the end of ICO should be considered.

2.2
Low
DADI
DADI is a global, decentralized cloud platform, focused on the provision of web services to help clients build, scale and grow digital products.
Start
29.01.2018
End
21.02.2018
$ 4 000 000
Market
Product
Team
Model
Finance
Market

The part of the market that DADI aims to enter- Cloud Application Infrastructure Services (PaaS) – has the smallest share of Worldwide Public Cloud Services market. It will only have around 4% of the whole market by 2020. DADI has direct competitors in the market of application infrastructure services with working products, such as Readz, woopie, and Zmags and its competitive advantages are not clear.

Product

As DADI will also create a built-in exchange, allowing Consumers to purchase services in their currency of choice, the security risk of exchange has to be considered as they are the main target of hacker attacks. The product does not have competitive advantages over similar products, such as Woopie or Magloft.

Team

CEO’s core experience is related to digital marketing, not to the development of web tools. There are no core Blockchain specialists in the core team. The team of advisors is not large and does not have strong experience in related areas.

Model

The exact fee level is not given in WP and so the commercial viability of the platform is not clear.

Finance

The Hard Cap valuation of DADI is $50M and is 6X times larger than the median US software companies seed stage post-money valuation. The only motivation for purchasing DADI tokens is the usage of the platform in the future. The given split of anticipated expenditures only gives percentage terms, not the real figures. Despite having vesting scheme, the size of the bonus for the team is quite large.

3.6
Medium
Bluzelle
Bluzelle – ecosystem allowing users to monetize their free hardware space for database storage
Start
18.01.2018
End
02.02.2018
$ 19 500 000
Market
Product
Team
Model
Finance
Market

Strong competition on market from blockchain startups and major corporations dealing with database storage and management

Product

Product is related to growing technologies, but still is not developed enough: funds raised are generally projected to be sent to R&D

Team

In spite of the strong technical team, little information is provided about non-technical specialists in marketing or legal issues, for example

Model

Complicated double-token system may turn an obstacle for attraction larger client Token distribution date is set one month from the end of ICO, however no escrow is used: it means higher risk of considering this ICO as a debt investment by SEC Token demand seems to be high with hard-cap already raised by 60%: there is the risk of fast ICO and the low availability of token

Finance

Tokens for crowdsale are 33% of the token supply: such rate is low and contributes to token concentration No current and projected financial indicators are provided Soft-cap is not indicated and hard-cap of 19,5M USD is considered to be a goal High 30% bonus for pre-sale investors increasing the risk of the rapid sell off when starting trading on exchanges

3.8
Medium
DEEX Exchange
DEEX is a fully functional decentralized ecosystem including DEX cryptoexchange, secure messanger, ICO platform with decentralized escrow, merchant, cryptocards and crypto ATMs.
Start
10.01.2018
End
28.02.2018
$ 10 000 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks

Model

Currently, project decided to not verify their publishing via system of grades and risks

Finance

Currently, project decided to not verify their publishing via system of grades and risks

2.8
Low
BeEasy
BeEasy - blockchain ecosystem for mining, trading and crypto assets investments.
Start
01.02.2018
End
30.04.2018
$ 38 400 000
Market
Product
Team
Model
Finance
Market

Currently, project decided to not verify their publishing via system of grades and risks

Product

Currently, project decided to not verify their publishing via system of grades and risks

Team

Currently, project decided to not verify their publishing via system of grades and risks