Analysis of ICO charitySPACE
CharitySPACE is a blockchain platform which organizes a fundraising for orphanages, hospitals, charity funds and makes a prize draw for all participants. 70% of all collected funds will be sent to charity organisations, 5-10% will be used for charitySPACE needs, and 20-25% will be used for donators’ prizes.
There is no verification of correct usage of funds by recepients (funds, hospitals etc.), despite of it is well-known that this is a large problem of public charity. So there is no guarantee that funds collected by platform and sent to destination targeted by platform managers, will be used on charity really, not for fake “ill children” with photos from internet.
No business plan presented, just distribution of funds planned to receive and hard cap USD 7,2 million
The Vision of the Market
No vision of the market was presented in WP. According our opinion, there is no need in just one product between donators and charity funds without clear verification of them.
No marketing strategy presented.
Team consists from IT persons and only 3 of 6 have Linkedin profiles, no one have a proved experience in charity. Only one advisor from crypto-world helps this project
Understanding of the Target Audience
Founders don’t describe the target auditory but, according our opinion, the target person can be any crypto-investor or other crypto-enthusiast who wants to use his assets for a good things.
No competitive analysis was performed by Founder. On our opinion, each public donation fund is competitor to this platform, and looks like there are no advantages to it.
Project strong sides: no.
Project weak sides: no business plan presented, no marketing strategy, no verification of charity organisations.