A review on the World’s First E-commerce Token: TEKY
There are many Initial Coin Offerings (ICO) popping up and there will be many more to come. According to Vitalik Buterin, the founder of Ethereum, 90% of ICOs will fail. With investors fearing to miss the next “Bitcoin” or “Ethereum” and having a 10% chance of investing in a successful ICO project, how does one choose a wise investment?
In light of this question, there is no set guidelines for choosing an ICO project to invest. With this in mind, I will share my method which has proven to be effective when I decided to buy in on TenX (PAY) at an early stage of roughly 0.10; moreover, I’ve made other positive investments that has given me over triple my return on invest (ROI) by using my method.
Before committing to investing in an ICO I firstly analyze the team members, basically stalking team members via their social media accounts to observe if they are what they claim to be. If I am convinced with about the team, I would go forth to contacting a member, usually the CEO/Co-Owner, in order to get more information about the questions I have might have.
Next, understanding the project, the goal, and believing in the ICO is important to having a positive investment. This is where I review the whitepaper. Anyone can create a whitepaper that is over 10 pages long with fancy words. However, few can create a document[whitepaper] that makes sense with realistic and practical goals. In the WP I look for the idea behind the project, if there is a real need for the project (demand), the cost (most do not need ridiculous amounts of capital to start such as $5mln or $20mln), is there a real use-case for the tokens, how will the tokens be distributed, how soon will the tokens be added to the market, and where do they expect to be after the ICO (timeline).
Finally, if I am convinced that the WP is practical, I will investigate on how my investment will be kept such as via a wallet on the ICO website? Or a personal wallet such as MyEtherWallet(MEW)? This question, for me, answers how serious an ICO is based upon the work they have done on the website and their WP. If I keep my tokens on the ICOs wallet via their website, then it tells me that they must have gone through some security measures in order to make the wallet secure (which comes at a price), and there most likely will be a blockchain for the token.
Given these methods, there is an ICO that has caught my attention: TEKY. The company started as a research project in 2015 and was officially founded in June of 2016, with a vision to be the number one Tech-Edu ecosystem using the B2C (business to consumer) Tech-toy Ecommerce platform.
There seems to be a strong and solid set of skills behind the TEKY team. Notably, the CEO & Co-Founder, Emme Dao, has an impressive resume of being the Co-founder and current Vice President of NextTech Group which is the parent company and a group that specializes in innovating digitization services, doing a wide range of businesses including: Online Store Front & Marketplace, Cross Border Trade, Fintech, Warehouse & Fulfillment, and STEM Education. Other members include the CFO who is the former co-founder at chemycal.com, the head of commerce who has over 10 years of experience as an international marketing manager, and Nguyen Hoa Binh who is the founder and chairman of the NextTech group.
With a solid development process plan that spans over a 5-year period with a goal of reaching $1 billion USD in transaction volume at MEK.store (the Ecommerce store that will fulfill demand for customers) and $55 million USD revenue at TEKY Academy which is a platform to empower adolescents to pursue STEM related projects.
TEKY Academy and MEK.store are the two main ecosystems in which TEKY will be utilizing its token TKC. The tokens can be used for trading as well as purchasing products on their Ecommerce platform or online/offline courses at their academy. TEKY has plans to be trade able on exchanges such as EtherDelta, Liqui, Mercatox, Tidex, COSS, which could potentially multiply your return on investment.
All points considered, TEKY has a solid plan with a respectable platform that is not like any other platform I’ve seen in an ICO. With the two labs already secured and situated in Hanoi and Ho Chi Minh (Vietnam) with a total investment of $500K, I would recommend testing these waters.
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