Tokenbox Analysis of ICO Projects
1. Imusify (Germany)
Imusify is an open source music platform based on the NEO blockchain. The goal is a global reform of the music industry, which will mean removing intermediaries between the artist and the listener.
According to the founders of the project, the main obstacle to the process of introduction of new artists and the process of increase of the number of new high-quality results is a centralized system of record companies, producing centers and distributors who receive the biggest part of the remuneration and hold the usage rights.
The project will integrate social networks such as Facebook and Instagram, crowdfunding platforms like Kickstarter and Indiegogo, and streaming services like SoundCloud and iTunes, as well as platforms for publishing video content such as Youtube and Vimeo. There will be two types of users within the Imusify platform — the artist and the user. The artist must receive a fee for the use of his creation. Using blockchain this is done instantly and without intermediaries.
Using IMU tokens, the user pays for listening and receives remuneration for active participation in the development of the platform (reviews, discussions, voting, etc). Musicians get paid for the use of their creations for commercial purposes. The system of distribution of rights and automatic deductions in accordance with these rights allows the possibility of eliminating the intermediary (the distributor or the label) and receiving a reward for participating in the creation of compositions directly from the listener.
The ecosystem also has a crowdfunding component that allows running a collection campaign in IMU tokens to support the creation of any product, be it an album, an audiobook or a video.
The founder of the project is David Walters, who worked for about 7 years as a financial analyst, including 4 years in Generali, a major Italian insurance company. Simultaneously David acts as a startup advisor. Being a well-known musician in Germany, s he was the head his own production studio for 15 year.
The main project team also includes a developer with 15 years of experience at Siemens. CTO Tadej Krevh also has impressive experience in development. The team took prizes in competitions, for example in the City of Zion dApps competition.
The Imusify partner is the well-known Crypto Valley association, which has active links with international blockchain innovation centers in London, Singapore, Silicon Valley and New York.
Project tokenomics: the Hard Cap is $ 25,000,000. ICO Token Price: 1 IMU = $ 0.0500. Token supply — 1,000,000,000. The start date of the ICO is August 1, 2018. The launch of the platform is: testnet Q1 2019, mainnet Q3 2019.
Summarizing, we can say that the project is based on a great idea, and, importantly, there is already an MVP. When it is done creating sufficient turnover and movement of IMU tokens, the team will be able to attract a lot of users to the platform. In addition, the project is supported by advisers from the music industry. However, the analytical department of Tokenbox recommends monitoring the project and investing with caution.
The preliminary estimate is 6/10.
2. Matic Network (Panama)
The Matic Network Project presents a solution that uses DPoS sidechains to increase scalability and speed of Ethereum payments. The developers chose Ethereum as the first platform for demonstrating scalability. There is already a part of Ethereum realization on Kovan Testnet for internal testing.
What are the advantages of this solution? It will allow instantly transferring, exchanging and converting digital assets (for example, cryptographic markers). The Matic Network strives to address scalability and usability issues without compromising decentralization and the use of the existing developer community and ecosystem. The project seeks to achieve a high degree of decentralization while providing almost instant transfers, low commissions and favorable savings for micro-transactions.
The open-source Matic Foundation intends to provide a Matic wallet, payment APIs and SDKs, identification products and other solutions that will allow developing, implementing and migrating DApps created on base platforms such as Ethereum.
The Matic Network team has already built high-quality user interfaces. The roadmap of the project also provides support for cross-transactions and third-party decentralized exchanges.
The Matic Network solves the problem of slow and expensive transactions using a decentralized platform and an adjusted version of the PLASMA framework.
The project will also work with the 0x protocol to provide instant, decentralized and low-cost transactions.
In terms of the competition of Matic, there is Dfinity. However, they will work separately, using the power of EVM, rather than using the Plasma contract system.
The project already has an alpha version of the wallet: https://matic.network/wallet
and an add-on for dapps to interact with Plasma: https://matic.network/dagger
There is no current tokenometric information at this stage. Social activity is just starting to gain momentum. Decentraland can become a partner of the project, possibly.
There are only 3 members on the Matic Network team. CEO Jaynti Kanani, who has worked as a coder, a senior software developer at Housing.com and a senior software engineer with Persistent Systems. Co-founder Anurag Arjun, Chief Product Officer of Matic Network, was an analyst programmer with Cognizant Technology Solutions, Scrum Master at SNL Financial. The operational director Sandeep Nailwal has extensive experience in product management and was a consultant to Deloitte. Apparently, the recruitment is still in progress.
Due to the lack of information on tokenometrics, token sale dates, partners and investors, Tokenbox analytical department recommends monitoring the project and making a decision to participate on the basis of future announcements from the Matic Network project.
The final estimate of the project is 6/10.
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