Rentapp: a treacherous road to market release

Bio_Logik
Bio_Logik
Nov 1 · 4 min read

Published by: bio_logik

Date: 1st November 2019

RentApp aims to provide an income from everyday goods where owner will offer hiring of their unused assets. We are extending the concept of ‘Own To Rent’ (OTR) to generate income from everyday items where others need it for a short time or as a trial before purchase

Going in depth in Rentapp, we can see what has been achieved. The successes, as well as the mistakes and bumps on the road, demonstrate a tumultuous yet exciting journey. What lays ahead is still in the making and only time will tell the success or else.

With a highly motivated and ‘pumped up’ team members, things were going very well. Rentapp started to approach potential investors as well as being known within the Waves communities, the ultimate goal being to be selected for WavesGrant and possibly incubator program. It also started to interview digital agencies to develop the app. Being the most important part, it is a very thorough process but not exempt from wrong decision (as seen further down). Call it fate or bad luck, no one is shielded from the unexpected.

After interviewing few digital agency, Rentapp settled on lai360, a French agency based in Bordeaux. Without delay, the development of the app started. The website also benefited of a real revamp, nothing to do with the old wordpress based website. The game was upped and the website reflected the progress and involvement of all parties. Rentapp.io looks like a professional and real business website.

Finally we were at our first huge milestone: the beta release. It was a real pleasure to finally see all the hard work ‘in the flesh’. We couldn’t have been more pleased with this first version. On top of a functional app where testers can post or rent an asset, the app had a fully working multi crypto currency wallet based on Waves technology. This was an achievement in itself and recognised within the Waves community as such. As a result, and after submitting Rentapp for Waves Grant, it was selected to receive a grant of 3000 $WAVES to further the development, with expected conditions to integrate RIDE and the @callable function in the app.

Rentapp has accomplished more than 90% of crypto projects out there.

More than a bump in the road, the current situation of Rentapp resembles more to a long pot hole, life threatening for the project and product. Following discussions with the dev, Rentapp felt in strong disagreement with him and after further conversations, the dev decided to quit the project. It is important to notice that we still have the source code of the app. However, all testers have been removed from the beta, which goes through iOS test flight, which gives us another challenge to face when presenting the app to investors.

Asa legally binding contract was signed, lawyers are now involved to resolve the conflict between both parties, no details will be disclosed until authorised to do so.

What started as a great and exciting adventure is now at a point of high stress and uncertainty. The team has to refocus the work given to the project.

  1. the legal matter will take precedent over anything else.
  2. An investor pitch deck is in the making, alongside a business plan. Rentapp has been talking to upvote.tv to do live pitch on their platform (which is opening in December). Please visit their website to learn more. On top of which, Latoken may be holding a ‘pitch contest’ were users will vote for the best pitch/project and Rentapp is highly likely to be part of it. Once the pitch finished and validated, it will be registered with UK and French angel, incubator and investor platforms.
  3. Rentapp is on the lookout for a developer with strong react native skills, ideally knowledge of RIDE, or the will to learn it, and proven track record of developing iOS and Android app. The developer will need to be part of an agency, or registered in its own name. Face to face meeting and legal agreement will be signed. This will not prevent bad things to happen, as we have seen, but it will minimise the risks and enable appropriate actions to be taken.

Let’s be frank and not kid ourselves: Rentapp took a big hit, and the moral of the team has been affected, especially when it was going so well. The risk associated with Rentapp has always been here (like with all new projects, crypto based or not) and is now more present. However, It does not mean that it is the end. The team will do the utmost to carry on, hire a dev, pitch Rentapp to potential investors, and participate to as many conferences as they can.

Since Rentapp started, so much has been accomplished. Regardless of what everyone say or think, Rentapp has done much more than 90% of crypto projects out there, and probably with less resources and definitely in a more time efficient manner. It must be acknowledged and respected for this. The story carries on, time will tell how the finishing line will look like.

Links:

Telegram: https://t.me/rentapp_tg

Website: rentapp.io

Contact us: contact@rentapp.io

Bio_Logik

Written by

Bio_Logik

Keen interest in blockchain technologies and their applications for a better world

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