Õpet Has Successfully Hit Their 10,000 ETH Softcap

Congratulations are in order.

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Earlier in the year, we started working with Õpet as we realized its potential to unlock educational philanthropy through AI and blockchain technologies. In June, by working together with Õpet on the token economics behind the OPET token and it’s utilities, we published a 32 paged in-depth report on Õpet and its OPET token which can be accessed here.

We believe that the OPET token has the potential to reach US$9.2 by FY2021 driven by a large unmet underlying demand for cost-efficient intelligent education aids and secure tamper-proof systems for the management of confidential student data. This is subject to management achieving strong revenue projections as we outline in our model, and the token achieving the assumed velocity in the market with a 12-month lockup policy for the tokens Õpet receives from users.

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Key Milestones

· Successfully hitting their 10,000 ETH softcap goal

· Securing US$2.0m in funding from Pecunio

· Securing US$1.5m in funding from Genesis on Digital

· Securing 1,000 ETH in funding from United Nations Blockchain Foundation

· Acceptance into Gibraltar Blockchain Exchange (GBX) Grid

· Acceptance into LATOKEN Exchange

· Strategic partnership with World Capacity Builders

· Being awarded CIO Advisor’s “Top 10 Machine Learning Solution Providers of 2018”

These developments bring the Company one step closer to successfully executing its token generation event and launching their educational AI chatbot. We discuss each of these in greater detail below.

Pecunio, Genesis on Digital and United Nations Blockchain Foundation Bring Strategic Value

Pecunio, a leading fintech company in the UAE, invested US$2.0m into Õpet with a follow-up offer to purchase all remaining allocation of OPET tokens (up to another US$2.0m) by the end of the token sale window.

Ecosystem of Blockchain Partners

Genesis on Digital, a Malaysia-based blockchain investment and advisory firm, also funded Õpet US$1.5m. Similar to Pecunio, the investment features the option to top-up an additional US$1.5m before the token sale window closes.

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Õpet Founder/CEO Wilson Wang at the signing with Genesis on Digital

Just recently, Õpet secured yet another investment of 1,000 ETH from United Nations Blockchain Foundation (UNBF). UNBF is founded by World Blockchain Organization (WBO), which is governed by International Information development organization-DevNet, a United Nations-registered NGO with Special Consultative Status with the Economic and Social Council (ECOSOC).

UNBF is in the process of creating a special drawing rights in crypto, namely Crypto Special Drawing Rights (C-SDR). Similar to the Special Drawing Rights (SDR) created by the International Monetary Fund, C-SDR will comprise a basket of anchor cryptocurrencies that would help make digital currencies go truly global in the near future. OPET will form part of the basket, indicating its importance.

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Õpet Founder/CEO Wilson Wang at the signing with United Nations Blockchain Foundation

Votes of Confidence

GBX Grid and LATOKEN Provide Access to Prime Investors

Gibraltar Blockchain Exchange (GBX) is a subsidiary of Gibraltar Stock Exchange, underpinned by the regulatory framework of the Government of Gibraltar which is supportive of distributed ledger technology. As GBX allows fiat onboarding and trading, it is expected to provide Õpet access to a large pool of high-quality investors that have already been vetted to be compliant with Anti Money Laundering (AML) and Know Your Customer (KYC) regulations. GBX is also famed for its stringent compliance and due diligence exercise on the tokens — With Õpet being successfully approved, it provides another “vote of confidence”.

This is further compounded by Õpet’s admittance into the LATOKEN Exchange, which will aid the Company in tapping liquidity for its OPET tokens. We note that LATOKEN Exchange is currently among the top 50 token exchanges in the world by trading volume.

In our view, Õpet is achieving all the necessary milestones to successfully launch its ICO later this year. With the Company’s admittance into these exchanges, in conjunction with the strong performance of its private token sale, we see no reason why the Company can’t meet its ICO goals.

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Other Major Developments

Strategic Partnership with World Capacity Builders

Machine Learning Award and Expanding Engineering Team

We note that management has also expanded technical capability with additional 4 full-time IT engineers coming on board in the India office, which is solely focused on the development of Õpet educational platform and its flagship machine learning chatbot.

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Token Sale Price ~35% Cheaper as ETH Drops but Our Target is Unchanged

We remain optimistic about OPET’s potential to reach US$9.2 by FY2021 in light of the positive developments outlined above.

For the Flashnote on Õpet click here.

For the Full Report click here.

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