Cappasity
Cappasity is the platform that leverages Blockchain infrastructure to create, rent, and sell 3D content.
Cappasity is the platform that leverages Blockchain infrastructure to create, rent, and sell 3D content.
Project details
Incorporation status
N/A
Stage
Currently, the platform is available thus with limited functionality and without token integration. Tokens will start to be accepted in December 2017. As of 21st of December 2017, the MacOS and Windows applications are available and can be downloaded from website.
Token description
ICO date:
22.03.2018 - 19.04.2018
Platform:
Ethereum
Role of token:
Utility Token: CAPP token will be used as utility token for payments within the system. CAPP token will be used as utility token for payments within the system. However, the team does not clarify if it will be the only payment method in the ecosystem or not. That is why the risk of low demand for CAPP tokens should be considered. Cappasity will issue 7B tokens for sale in total.
Token price:
Will be announced on January 23
  • Phase 2, Tier 1: 10% Bonus
  • Phase 2, Tier 2: No Bonus
Sum of tokens:
7 000 000 000 for the amount of 50 000 000$
Blockchain:
Ethereum
Consensus
method:
N/A
Escrow agent:
N/A
Accepted currencies ICO:
ETH , BTC , LTC , DASH
Bounty camping:
Ended
Token distribution date
No data
Markets
HitBTC
Token distribution:
Unfortunately, your browser does not support displaying a chart
Investment attractiveness
Market
Cappasity is entering the market of 3D/AR/VR tools and aims to create 3D/AR/VR marketplace. VR/AR market could grow to $569 billion by 2025 as different industries and applications adopt and make us of the technology, according to Citibank report. The annual growth rate for 2020-2025 is estimated around 20% for VR and 64% for AR respectively. The most driving sectors for VR will be Game Industry (CAGR 31%) and Motion Video(CAGR 28%); the most growing ones for AR will be Commerce(CAGR 78%) and Hardware(CAGR 68%). Goldman Sachs values the revenue of the AR/VR market to grow up to $80bn ($45bn in hardware, $35bn in software) by 2025. However, there are already products from large companies launching tools for easy 3D/AR/VR editing and publishing. Recently, Amazon launched Sumerian - a Web-based service that makes it easier to create VR and AR experiences without special expertise in 3-D graphics or related fields. Also, other big tech companies, including Facebook, Google, Apple, and Microsoft, are developing tools for easy AR/VR processing. Therefore, the AR/VR market is highly competitive.
Product
Cappasity is aiming to create a platform that will allow to store and trade self-created 3D and AR/VR content effectively. The platform will use its proprietary technological platform and will provide the community with its API and SDK to integrate new tools and technologies developed by third party service providers. The Ecosystem will consist of an infrastructure layer and a marketplace layer while both are based on Cappasity platform technologies. The infrastructure layer encompasses the blockchain, software toolkits, and decentralized storage. The marketplace layer comprises the Marketplace for content exchange and the sandbox area as a testing environment for AR/VR/3D content. Currently, the platform is available thus with limited functionality and without token integration. Tokens will start to be accepted in December 2017. As of 21st of December 2017, the MacOS and Windows applications are available and can be downloaded from website. During 2018, the apps functionality will be expanded and smart contracts will be empowered into the system. The product development can be monitored through GitHub. The roadmap for 2018-2019 is split by quarters and gives the main information about stages of product development. However, the roadmap for the next year could be more detailed.
Team
The team’s experience is not balanced among different areas of business. The CEO of Cappasity – Kosta Popov, has long lasting track record in 3D video gaming production and received “Intel Software Innovators” award twice – in 2015 and 2016. Kosta also held several patents in 3D sphere, according to his Linkedin profile. However, CTO’s Linkedin - Alex Chegaev - was not found and his experience cannot be proved. The business development and sales experts does not have relevant experience prior to joining Cappasity. Apparently, Chief Sales Officer – Natalie Reyes – joined Cappasity right after graduating from university. Therefore, the scalability of the project might be slow. Blockchain scientist – Alex Garkusha – is not employed at Cappasity and helping the project through its own Blockchain consulting firm – Modern Token. Also, as Cappasity might face copyright risks while globally expanding its platform, the team definitely must have strong lawyers on board. However, there are no full-time lawyers working at Cappasity as of now.
Model
Cappasity ecosystem participants will pay content makers for the right to use or rent their 3D models. The AR/VR/3D content marketplace and its mobile app aims to encourage 3D artists to create, rent and sell their products or to use them for personal purposes like demonstrating a 3D-model portfolio or integrating them to AR/VR applications. The content creator gets 85-95% from every deal that one makes on the Cappasity platform. The royalty for content maker depends on one’s ranking in the system. The rest is held by the platform as a fee. Cappasity team does not explain in WP how did they get the final fee size. Also, it is not clear if the required fee level will be enough to maintain the platform Business accounts: Cappasity using freemium business model for SMB. For Enterprise, Cappasity applies a subscription-based pricing model - it can be either a fixed price per SKU or an unlimited plan. As the company aims to enter the global market for using/renting AR/VR/3D content, the jurisdiction risk should be considered. Copyright is different across countries and Cappasity should focus on this aspect of business.
Finance
The Sale consists of two phases: the first stage lasted for 28 days from 25th October 2017. The second stage will start on 22nd March 2018 and will also last for 28 days. There were 295M tokens sold during the first stage. The minimum purchase for both stages is $35. The price of token for Phase 1 was $1 = 125 CAPP, the price for Phase 2 will be announced on January 23 and will be higher. The Hard Cap of Cappasity is $50M. Cappasity team does not disclose any information about soft cap. The hard cap figure is above the average size of the round of companies at the same stage. (US software startups, Early Stage, Pitchbook). Cappasity will reserve 18% of tokens for the core team and 12% for the early contributors. The team bonus then will be around $12.6M and 1/24 of it will be released every month for 24 months. Therefore, the team will use 2-year vesting with 1-month cliff. As the company provides large investors with contribution-size bonuses ($100K-$300K - 5%, >$300K - 10%), the risk of higher price volatility right after the ICO should be considered by the small investors. The team does not provide any financial forecasts or assumptions for their growth. The given expenditures’ structure is too broad and is not detailed. CAPP tokens will be used as the main currency of Cappasity ecosystem. After the token sale is finished, Cappasity will give crowdsale participants an opportunity to pay with Cappasity CAPP Tokens for the services already presented on Cappasity web site such as a subscription for Cappasity 3D modeling services offered with a discount for token sale participants. There bounty program has already ended. CAPP tokens are now listed on HitBTC.