Analysis of ICO Exolover
ExoLover is a product which allows users to have a virtual sexual experience using patented devices (patent was checked on Australian governmental website, it really exists and belongs to ExoLover founder). Founders are announcing virtual reality devices for having a visualization. In more simple solutions there will be audio chat, web camera and video animation. Product will have pre-installed avatars and will allow users to create and customize their own avatars.
Blockchain solution can be useful in this case for creating secured anonymous decentralized platform. Token will be used as internal currency for payments for connecting, or for purchasing content stored in platform like audio, video etc. Platform will support community with forums and blogs.
Platform will be ready in December 2018, hardware will be ready for alpha testing in January 2019. Mass production was planned for September 2019.
Despite of early stage development of the product, soft cap is planning only USD 500 k, hard cap – USD 25 million. This wide range, and possible insufficiency of soft cap looks very suspicious. 70% of tokens issued will be sold, and only 15% will belong to team and advisors. No more information was presented in WP, including planned usage of funds received. With a very small soft cap and a large difference between soft cap and hard cap it may be a scam sign.
Marketing strategy didn’t describe in WP.
Team looks professional and having real Linkedin profiles. Information about Kharanur experience of founder can be found in internet. All team position were filled.
The Vision of the Market
No detailed information about sex toy market was presented in WP.
Understanding of the Target Audience
Target audience of the project consists from usual sex toys and dating services users – but there was no deep researches performed.
Competitive advantage of product over usual sex toys is its interaction which make possible having virtual relationships.
Project strong sides: interesting idea, existing patent, strong team with proofs of experience.
Project weak sides: very small soft cap; no marketing details presented; early stage of development
So our position is negative.