[ICO Analysis] 1. Mossland ICO
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Mossland ICO is my first analysis, because it is the first gaming ICO in South Korea, which is very meaningful and a recent participation of the advisor, Louis Jinhwa Kim known as the most influential cryptocurrency expert in South Korea.
1. Introduction
Today’s analysis will cover Mossland project by Reality Reflection Inc.
‘Mossland’ is a location-based AR (Augmented Reality) mobile game based on real estate.
Pocketmon Go is a representative example of AR mobile game.
Users can purchase and sell their landmarks within the game where they can also decorate their properties with AR accessories.
In addition, it is written that users can ask the building owners to promote and advertise their products and services.
Moss Coin (MOC), that is a blockchain technology-based cryptocurrency on the Ethereum platform, is the main currency used for these activities in Mossland.
Therefore, the success of the game will affect the success of Moss Coin enormously.
Moss Coin will support the global users to transfer the value more easily, and Moss Coin will be playing a role of connection between the value in the game and the value in the real world.
The blockchain technology is applied to Moss Coin only in the game, because they judged the technology is not enough yet to manage the massive data and a server in Mossland.
Consequently, the company will manage the game in the centre to take advantages of quicker speed and effective management.
Team Mossland said that the total amount of Moss Coin would be limited to 500,000,000 MOC, and 5% of total amount was taken during ended Pre-ICO, and 45% will be allocated to participants of upcoming ICO.
Mossland is aiming to list Moss Coin on the second-tier exchanges in 2Q 2018, and planning to unveil the soft launch in selected countries in 2Q 2019. The global launch is going to be 3Q 2019.
2. Company / Technology prowess
Reality Reflection Inc, which is developing Mossland, has launched some successful VR (Virtual Reality) games.
According to their website, the VR games have a title of the first VR game launched on Steam, a PC game platform, and they were nominated as one of the 50 Oculus Touch Launch Titles.
What is more, their 3D Human Scanning Studio, that is the biggest scale in Asia, is the root of a digital human avatar technology. To prove this, a lot of celebrities have visited their studio to make their own avatars.
Reality Reflection Inc. is also scheduled to show off the 3D human avatar technology with SKT, one of the biggest telecom companies in Korea, in upcoming MWC (Mobile World Congress) 2018. As written on the website, Reality Reflection is officially supported by SKT.
Based on given circumstances, their quality of the technology seems to be very good.
However, they have never launched AR games so far, and it is never easy to apply the AR accessories on the buildings considering a variety of degrees, views, distances and sizes of landmarks. So, although they have proved the strong skills, I am curious how they will apply the crucial technology, AR, to Mossland. We should monitor the soft launch to solve the quesiton.
3. Team members / Advisors
As the most fatal risk in ICOs is SCAM damaging the trust of ICOs, the level of trust is a key issue. Mossland shows the solid trust by the quality of members.The team consists of experts such as graphic experts, game planners, software developers.
Firstly, Wooram Son, the CEO of Reality Reflection, and Sean Oh, Co-Founder, used to work for Samsung Electronics, and Wooram Son was awarded by Ministry of Education Human Resources Development in Korea.
Chester Roh, CSO of Reality Reflection, is well-known as a successful Korean serial entrepreneur. His previous startup was acquired by Google which was the first case in Korea.
Don Lim, VP of Business Development, used to work as a general manager of Com2uS USA. More importantly, he worked as the director of Gyeonggi Centre for Creative Economy and Innovation, a governmental organisation.
For this reason, I would like to give a high score for their reliability even though Reality Reflection is a start-up.
I had doubt that experts were strong at game graphics and software development, but could not find any blockchain experts.
Reality Reflection replaces this with luxury advisors.
Jason Han, an adjunct professor at KAIST MBA, joined as a blockchain advisor.
Louis Jinhwa Kim, a Co-founder and director of Korea Blockchain Association, also gives advice related to blockchain for Mossland. He was called up as a representative expert of cryptocurrency for the discussion held by the National Assembly.
Furthermore, Duhee Lee, a founder of LIKELION, participate in Mossland as a start-up advisor. He gave a good impression in a TV programme called Genious.
Widjaja Tannady, the director of Pacific Place Jakarta which is one of the largest shopping malls in Indonesia, is a real estate advisor who might also affect the Indonesian cryptocurrency market positively.
As seen, team members and advisors cannot be compared to other projects and highly reliable. Therefore, I also want to give high score for this criteria.
Nevertheless, Reality Reflection might not have enough employees to manage all of their games as it is a start-up, so they should recruit more experts for such a big project, Mossland.
4. Competitor
The most frequently mentioned competitor is Decentraland. The biggest difference between them is that Decentraland is a VR game and Mossland is based on the AR technology.
Absolutely, pros and cons exist. Decentraland is the game to create the new virtual world, which means users may enjoy a relatively unconstrained interface. The downside of it is the VR equipment that costs a lot of money. This is the common reason why VR games are not diffused yet. For this reason, it will probably take longer time to be adopted.
In the case of Mossland, users are encouraged to explore the game with AR which allows them to be immersed in Mossland. Moreover, a new idea, that landmarks are purchased and sold, is very likely to attract a number of game lovers. The AR technology is also being applied to new mobile phones, which is an advantage for Mossland.
5. Others
Pre-ICO of Mossland was held last January and it achieved its goal within 39 mins. The amount they raised is approximately $4.5m which is relatively bigger than other similar ICOs, that means successful. Upcoming ICO is going to be held at 13:00 UTC on 12th of March and aiming the 9 times bigger amount than Pre-ICO.
In addition, their corporate body is located in Estonia which has crypto-friendly environment. This illustrates that Reality Reflection and Mossland will not be constrained by possible regulations in Korea.
According to their official blog, they had a private meeting for large investors and had time to announce further plans and the Q&A session was also taken well. The investors shared their experience on social media and said it was a good opportunity to sympathise their vision.
6. Summary
This fresh idea is good enough to attract a lot of gamers and investors. Furthermore, users will be given the free interface to make any advertisement and digital accessories, which is the essential element making the game lasts long.
One the other hand, some voices criticise that current contents are not enough to retain their customers for long time. They claim a variety of contents will let people swim in Mossland.
[7.0/10]
It has already been proved that Reality Reflection shows strengths, but it is still controversial how they will actualise the AR technology in Mossland.
[6.0/10]
Reliable experts in the team and luxury advisors fuel the power of Mossland.
[9.0/10]
Reliability and credibility of the project is solid.
[9.0/10]
The meaning of the first Korean gaming ICO has a massive influence. If they can apply the AR technology to the game, this will add up its score. Moreover, support from renowned advisors is more likely to lead this ICO to the successful crowdfunding.
You can find more details here: https://moss.land
Thank you very much.
Lee.
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