ICO Analysis: InfraCoins
Today we are going to look at a new ICO called InfraCoins.
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Idea
According to what they have said on the website, it is just a project based on listing real estate as well as hotels. Which right now there are 100s, if not 1000s of sites, fighting with each other to get at least some market share from giants in this sector.
Need for Blockchain
Except for the use of Token, I don’t see or does they state it well enough in their website about the need for the Blockchain technology in their project. The use cases reported are more centralised than decentralised.
Utility or Security
This is security as the token is to raise funds and to be used as payment itself.
Also, as seen aside, they accept this fact as well, that this is a security rather than a utility.
MVP
Regarding MVP, they have a template which they call as an Alpha Version. If this is their alpha of “Minimum Viable Product” I have got no words to say.
Team & their experiences
Now coming to the team, as soon as I check the team, the first person, Jagdish Suvarna, his short bio itself have a typo. On further search, there was not much detail about him except the Linkedin Profile.
So, I started digging up his experience and found out that the experience mentioned above does have a website, and in that, he is listed as an employee.
But the funny part is shown below:
The domain infracoin was registered in May 2018 while the company he has been working for around 7+ years have registered its domain one month after that. And it only has pictures of three people; one is Jagdish itself, another is a familiar advisor to both Aspen as well as Infracoin.
A new domain being used by an eight-year-old company raises my suspicion.
Advisors
Except one among these, all the other advisors have experience in the Crypto Field previously according to the info from ICOBench.
Funds Target, timeline & phases
They have a soft cap of 3M which according to me is a huge amount to ask with this project as well as with just a template as an alpha MVP.
And the hard cap is around ten times the soft cap, which shows weak knowledge in either business planning or financial analysis for the business.
The sale is divided into various phases as shown and it bound to happen for a few months till October 2018.
They require KYC and as per their whitepaper, does accept crypto as well as USD.
Funds Usage, Token Distribution & Valuation
A total of a 50Million token is present of which around 50% is vaguely defined as world dominance.
And according to their initial price of $0.7, they are valuing their company at around 35Million, which for a company with these weak pillars is a lousy investment for investors.
Social Media Activity & Engagement
They have shallow social media footprint like just 20+ members in Telegram
Similarly have a low amount of followers for the project on Facebook as well.
They have their alpha “MVP” or template public in Github
Smart Contract
No detail about the same was present on the website or their Github Profile
Verdict
They seem to have jumped in to get into the crypto scene somehow. And with a basic frontend template as an alpha version of MVP and suspicion around their project CEO and his experience, etc., my advice would be to keep away from this ICO until you get more info, updates, etc. If you still want to invest, I would advise you to do a bit more due diligence about the same.
Please let me know if you want to see more parameters to be added to my analysis or want to give me some tips or want to correct me on my findings or even want to share some secret regarding the companies I would be writing in time.
The above was just an analysis for those who want to spend less time finding about the project. But please don’t consider this as investment advice.
The above article was not paid for. And the respective company didn’t know about the same.
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