Analysis of ICO Gamico
Gamico is a platform where gamers can earn a living by playing video games. From hyper casual mobile games to multiplayer online battle arena games. Gamers and game fans will be able to play, compete, and monetize their skills and time spent on playing their favorite video games.
Players will be able to compete at a high level taking part in high stakes tournaments or challenging other players in H2H matches. Most importantly, winners will be awarded with GMC tokens that can be traded for high-value cryptocurrencies.
The Gamico platform will also introduce a groundbreaking feature for gamers worldwide: game result verification via blockchain technology.
In order to meet the demands of all types of gamers, the team will integrate the Gamico ecosystem with the widest possible variety of games - with anything from eSports to casual games and mobile console games - so that gamers from all walks of life will be able to enjoy the benefits of playing games to make a living. Furthermore, the platform’s features will allow them to attract new fans/followers who are needed for support and sponsorship and open new doors to promote their careers further.
We can conclude that the vision of the product is not unique. The game market is highly competitive; there are a lot of similar projects. And blockchain and tokens doesn’t play any role here.
The Gamico MVP or alpha version has not yet been developed as of the date of the analysis. The beta version of Gamico will appear in December 2018. Further development of the product is planned until the end of 2019.
GMC tokens can be used within the platform to participate in games or can be exchanged for other cryptocurrencies and fiat currencies.
Soft cap is 5 000 000 USD; hard cap is 25 000 000. The figures look somewhat overstated.
- Token Sale 60%
- Gamico Reserve 20%
- Founders and Team 8%
- Exchanges and Proxy System 5%
- Bounty Programs for ICO 4%
- Advisors 3%
- Development 60%
- Marketing 20%
- Partnership and Business Development 10%
- Legal and Security 10%
In general, the business plan is ordinary for such kind of project. But there is no mention of the sources of revenue.
The founders of the project chose several main directions for product promotion:
PR. The team considers media is a great channel to introduce the product to the public and gaming fans. The team has built and maintains good relationship with journalists and media in the Gaming, Tech and Crypto space, and will work with them closely to publish compelling stories
- Sponsoring Offline Events, and tournaments;
- Presentation of the product to passionate e-sports viewers and players.
Targeted Ads on Facebook and Google Ads.
Influencers Marketing: work with Youtubers, Twitch Streamers.
Overall, the founders of the project have an idea of marketing, but the marketing plan lacks details.
The team includes 7 people having experience in entrepreneurship, backend development and hardware integration, finance, marketing, business development, blockchain technologies. But, oddly enough, no member of the team has experience in gaming industry. This can make a negative impact on the project.
The Vision of the Market
The White Paper provides two figures on the state of the game and eSports market. In 2016, global sports market was valued at nearly $493 million, and global sports revenue is forecasted to reach $1.49 billion in 2020. Other data on the state of the market and competitors is not given. It can be concluded that the founders of the project poorly realize the market on which they want to bring Gamico.
Understanding of the Target Audience
The founders of the project see "passionate eSport gamers" as their target audience. According to the founders of the project, it's a great opportunity for gamers. Gamers will be able to make a living playing their favorite games.
This is hardly an analysis of the target audience. There is no socio-demographic portrait of the target audience. There is no description of the target audience segments and their motivation to purchase the product. Why should gamers give up their favorite playgrounds and come to Gamico platform? The project team doesn't know this and cannot explain it to investors.
The founders of the project see the competitive advantages of Gamico in the following:
- Players have the opportunity to earn;
- Safety and reliability of the platform.
But there's nothing unique about it. A new market participant must have very strong competitive advantages against the background of high competition in this market niche to capture market share.
It is possible to mention some understanding of marketing strategy among the advantages of the project Gamico.
But the project has significant shortcomings:
- No market vision and understanding of the target audience;
- The product does not have strong competitive advantages;
- The project team has no experience in gaming industry.