Analysis of ICO Izetex
IZETEX (IZX) is a decentralized monetization platform for building effective interaction between advertisers, game developers and customers. It allows business to utilize AR and VR games for converting gamers into real customers. An advertiser (business) chooses the game which will be used for its promotional events, game developer gets royalties. IZX is a blockchain-based network with an open source code and no geo limitations. An MVP is available.
IZX is not just a game. It also a new approach for customer acquisition and retention. The platform builds new market for digital advertising.
Components of business plan are scattered around the White Paper, company’s website and Pitch Deck. Overall, the business plan is of a good quality. The economic model is based on micro-payments; primary cash flow come from advertisers, who pay for tokens. Business model includes “Roles”, which are ascribed to users (one user can have several roles). Each role has its own profit source. Player earns tokens, app developer get commission in tokens, advertiser attracts customers etc. Turnover and utility of tokens are explained in details as are technical aspects and design of the product. Roadmap is easy to follow.
As per March 2018, the game (available on iOS and Android phones) has more than 40K of active players around the globe. Marketing strategy is built on the assumption that players will promote the app while using it - community-driven marketing.
The team is also present at relevant roadshows across the globe. The team is very active on social media, but numbers of followers are not that high.
The team of 15 people has an experience in digital technologies, blockchain developing, cryptology, mobile apps developing, finance, design and project management. Advisors add expertise and fundraising, legal and investments. There are no marketing specialists.
The Vision of the Market
The White Paper offers a detailed overview of Proof of Concept conducted by the team. During this study marketing research, competitor analysis and overall marketing mix were performed. The outcomes are provided and indicate that the team has clear vision of the market, its needs and real-life value offered by their product.
Understanding of the Target Audience
Target audience is segmented into three groups: advertisers, developers and customers (players). Their needs are described in details, the product is presented via benefits each of the group is getting.Competitive Advantage
Competitor analysis was made and resulted in comparisons between IZX and traditional loyalty programs + IZX and Pokemon Go game. The findings are supported by Proof of Concept.
The White Paper is focused on Proof of Concept and omits many relevant topics, which are presented on company’s website and in pitch deck. The White Paper needs to be updated.
Strengths: community-driven marketing. IZX makes it easy for all people to become active users of crypto via gaming model. The product already has users and partners/advertisers. IZX platform could be used as a base by other VR projects; games developers could integrate their products with IZX and monetize.
Weaknesses: there are no financial projections; numbers of followers on social media should be higher.