Carry protocol — quick thoughts
Hey guys and welcome to my first QT (quick thoughts).
First real quick to me personally. I am a professional financial advisor from Germany with banking license and everything… but don’t you think about going out sueing my ass cause of some failed investment after you went all in like a gambler (never all-in). I’m not responsible for your investments until you have had a sit down with me and signed a letter made by me personally for you personally with your own financial situation and investing knowledge as the core of the analysis. I’ve been in this space for almost a year now and have partaken in roughly 40 ICOs. So alot of my analysis also includes my gut feeling and experience from the past.
Oh and to the ICO or coin that might feel offense about what I wrote and wants to take action against me or something. Please don’t… ok? Pretty please? This is merely my totally subjective opinion.
What is a QT you might ask yourself? Well it’s what I will call “quick thoughts” from here on out. I realize that nobody has time to read a lot when your getting bombarded with new ICOs and Coins every single day. And crypto overall can actually be broken down into a few key points that manage to capture future gains potential pretty quickly. Cause let’s be honest… we’re here for the gains first and foremost. The most novel idea is not interesting to me personally from a pure investment standpoint if I can’t see an indicator that I can make some good gains with it. Cause I can buy that great idea on the exchanges on the cheap without having to engage in gas wars or twitter shill squad posts if I feel like investing because of sentimental value.
Ok let’s start my first ever QT:
- Type: Protocol (B)
- Data play to customers / crypto pay play + incentivization for b/customers(C)
- carry = Spoqa pretty much (No wiki) (C)
- Hashed + other VC investments (A)
- Hardcap 48k eth for 40% tokens.. -30mil roughly as of this post- (F / C)
- Pool-Love: Kind of / No open pools (B)
- 30k telegram airdropped (C)
- Team: (A)
- Advisors: (A)
- World-Ban: Yes (A+)
- Bonus: Hashed deeply involved (A+)
- Hype: mid-level (C)
- Gut feeling: 2x
Carry wants to introduce a loyalty program with payment options via crypto and if you want the loyalty points the merchant needs your phone number. Also the merchant has to purchase hardware from carry or spoqa.
Seems rather complicated and unpractical in my book even though existing spoqa merchants can just update… still the rest has to buy.
They say your data belongs to you etc. but I don’t think people see that as a sexy ICO play. Data play ICOs are in the hundreds currently and they all are so-so post ICO. They do also have the payment layer play for merchants.. so that gives them a second foot to stand on for this ICO.
Team and advisors seem good on a business and academic level. Spoqa, the mother company where most actors come from, seems OK successful-wise with a bunch of merchants using them in korea. No wiki for spoqa though... is wiki not a think in South Korea?
They got hashed VC deeply involved it seems. Which is a great thing since hashed is fairly successful in their investments and normaly just invest without going too deep into the process. Here at carry they actually are involved. Might be a Bonus “A+” just for that as hashed also invested into the likes of ICON as accelerator… and just look where ICON is now. Oh and kenetic capital and a bunch of other VSc are also involved.
They pre-filled the telegram with the promise of an airdrop. I can’t begin to describe how much I hate this new practice of generating good numbers for your telegram. I get it... it’s either this, extremely good marketing, overwhelmingly good team/advisors or bought followers. BUT STILL. I despise seeing pre-filled telegrams so much and I wish it could just disappear.
No open pools and no China/USA etc. is always a good thing for the post-ICO price since truly interested people usually miss out on these kind of ICOs and get ready to purchase on the exchanges. We need this liquidity and buying power to have price action. So that’s an A+ for me in these categories. World-ban and pool-love! Check!
OK let’s get to the elephant in the room. The hardcap is just too high for the idea. Let’s be real here. 30mil at current ETH and probably more since I see a at least a small pump to the ETH price coming. Way too much in this current market and not sexy at all. The cap is chosen so high that I am really struggling on investing into this. Whoever came up with those numbers is a bit greedy in my opinion. Sorry guys but what where you thinking? In an AMA I saw with OHM the teams wasn’t even 100% sure what they need all of that money for. Probably cause they really don’t need THAT much?! Period. They don’t even need to build new hardware solutions since everything is from spoqa and already there. This would have been so sexy with a 20mil hardcap… or even 24mil.
All in all this is actually a B+ ICO for me and I would normally be unsure if I am investing. In a different market situation I would say I’d most likely invest with a favourable bonus on the spot without second guessing. With carry I definitely second guessed myself quite alot so it’s not as clear as I normally prefer it to be. But looking at the VC situation I’m actually INVESTING on a second and third look as I believe the VC part is too big to ignore. I don’t think it will pump too hard on the exchanges but I do believe we can see it going up gradually without ever really going near ICO price again. 2x is my post ICO gut feeling of the price with a good appreciation of price as time goes by.
It’s a legit idea with an existing working business usecase and good team + extremely strong VC funding and advisory.
Disclaimer: Not financial advice and merely my opinion so leave me alone with any opinion on how something is different or wrong. Much love!
