Analysis of ICO FIXY NETWORK
Fixy app is a blockchain solution which gives users the following opportunities: monetizing their cryptocurrencies and being able to get paid in both fiat and crypto when they are selling their goods/services. The whole Fixy network is designed to facilitate an easy entry into the world of cryptocurrency and also to stimulate the use of crypto in a daily life. Key features of the network:
- Gift Cards: provides an opportunity to enter the crypto market
- OTC Trading: lets users to exchange crypto and fiat currencies without any fees charged by Fixy
- Store Finder: lets users to find a store where goods could be purchased for Fixy tokens
- Private and commerce marketplace
- Smart contract and free messaging service
- Fixy games.
The Fixy Network brings together customers and retailers who are interested in using cryptocurrency transactions. New participants can get into the world of crypto by purchasing Fixy Gift Card, which would be sold in approved stores globally. New user’s card will be credited as soon as they have gone through KYC process. Existing user’s balance will be loaded directly into their wallets. Partners are retailers who sell the Gift Cards and members of the Fixy Network who have paid for their memberships and advertising fees with Fixy Token. Tokens could also be used to make purchases. Gift Cards are expected to be launched in January 2020. Release of Fixy Network OTC Trade and Advertising Module V1 is expected on June 2018.
The WP doesn’t have marketing plan. It is said on the website that games and contests will enable users to participate and win rewards. This will create a community within the app. The team is active on social media platforms, the numbers of followers are quite good (the company was established in February 2018).
Team members have experience in development (most of them), blockchain, marketing and design. Advisors ad an expertise in project management, consulting, communication and PR.
The Vision of the Market
The market research is solid and is supported by numbers and stats. Current limitations of blockchain and crypto market are listed as following:
- Difficulty in getting into the world of crypto
- Centralized exchange
- No mass adoption of crypto
- The challenge of transforming crypto to cash.
The platform offers relevant solutions beneficial for both parties - consumers and service providers. Consumers are getting an easy entry to the market, for example, while service providers are getting incentives to make transactions in crypto.
Understanding of the Target Audience
The platform premium target is beginners in crypto (both consumers and service providers). The WP has extensive description of challenges faced by target audience in trying to adapt new technologies (namely, blockchain and crypto).
The WP doesn’t have competitor analysis. The website claims that there are no competitors with same features as Fixy Network. There is at least one competitor with similar mission- to make cryptocurrencies available in a daily life - TenX, the product graduated from PayPal’s startup incubation program.
Strengths: the idea of the project is very relevant and timely; the platform has lots of features; one of the advisors has strong background in blockchain.
Weaknesses: no financial plan, no marketing strategy, no competitor analysis; team members don’t have lots of years of experience and there are just 3 advisors. Gift Cards launch is planned on January 2020 - it’s a bit late and gives time to stronger players to come up with the similar idea.