Greetings everyone and welcome to my second thread of analyzing ICO's, I will be analyzing different ICO's with great potential of succeeding and I am not talking about Pumpin-&-Dumping, I am talking about real investment, I will try to share thoughts regarding different ICO's whitepapers and potential plans, I will also point out different ICO's which can be potential scams. Lets start, This week I will be analyzing everything regarding the Selfflery ICO or most known as (YOU) token, I will try to answer the most fundamental questions needed when analyzing an ICO (my personal opinion), dont forget to share some love, and if you do not agreed with something please let me know and I will be more than happy to make amendments. Let's begin.
What does it do?
Whitepaper: "SELFLLERY is a multifunctional social platform that allows you to receive rewards in cryptocurrency for social activities related to publication and distribution of visual content. The SELFLLERY reward system uses ERC20 tokens built on Ethereum blockchain technology.", now this project its quite interesting since, it will kind of make a platform where you can buy media content on demand, something similar to shutterstock mixed with fiverr and ebay, I believe this project will have as audience mostly the young people who are interested on making a Gig here and there and earn cryto-currencies on the way, I believe the project lacks few things that are not very well explained in detail on the whitepaper, like for example future goal of the company in their roadmap and others, even though its lacking few things I like the fact that they will donate 10% of their earnings to a charity of choice and aswell providing the same option to the sellers, that will bring a bunch of benefits to social communities, so thats a top point for me.
Does it really need a blockchain?
Whitepaper: "Therefore, SELFLLERY rewards such users with YOU tokens. The YOU token entitles its holders access to paid services on the SELFLLERY platform, to make purchases in the SELFLLERY marketplace and stock gallery, donate to charities, and make internal transfers and withdraw tokens to Ethereum wallets." To be honest, from my point of view, this project doesnt really need a blockchain approach I believe this things could be done different without the need of a blockchain, instead they could go for a complex database, to my understanding this project just needs enough founding for it to start working so that will be a ( - minus) for me, since I dont really see the need of using blockchain to create a digital marketplace.
Can the team execute?
Yes, I believe they can, this is not a really complex project, its just a escrow kind of marketplace, where the main currency of exchange will be YOU tokens, similarly to any other kind of service like SCHPOK, Ebay, Fiverr ... and the list goes on
What is the money being used for? and how will the token allocation be distributed?
When analyzing an ICO I always like to see how will they spend the investor's money or in what things it will be used on, in Selfllery case, they will split it this way:
The Token Allocation:
Buyers: 60%
Reward Fund: 12%
Reserve Fund: 10%
Team: 10%
Advisers: 3%
Bounty Program: 1%
Links I have used for this research.
Website: https://selfllery.com/
Whitepaper: https://selfllery.com/wp/selfllery_whitepaper_en.pdf
I do not endorse Selfllery at all in any way nor I participate with them in any way, I would always recommend you to do your own research before investing in an ICO, If you have an ICO which you might be interested on and would like me to analyze give me a shout (since I need new material to analyze.)
Topic: ICO-2 This week, Analyzing SELFLLERY (Read 82 times)
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