Analysis of ICO Loyakk Vega
Loyakk Vega proposed by founders as a solution for enterprises to connect and interact data. I.e. according to the founder’s opinion, it can replace currently using email systems.
The platform will give t user these key features:
- Secure Information Exchange. All operations will be built around information – verifiable, entrusted, valuable – and giving access to it
- Workflows. Vega will support data workflows between all applications accessed to the blockchain
- Relationship Management. Vega will support dynamic relationships with a goal of maximizing the output of all ecosystem.
This means that platform will work as a mix of corporate email, cloud file sharing system, and ERP. Tokens will be used as internal currency or keys to all platform services.
Base platform was built in 2017, and there will be version 2 release in Q2 2018 and final release in 2021. There is no description of key features present in V2 and added at final release.
According presented documents, hard cap of ICO equals GBP 30 million. Founder plans to sell only 34% of issued tokens; and 30% of them will be reserved for strategic partnerships, incentives or bounties.
Funds acquired during ICO will be used mostly on product development (45%), operation costs (20%) and 25% for marketing, sales and customer adoption. No information about sales plans, detailed revenue model, planned expenses or net profit was given in documents.
But according open sources information, venture capital fund Ai8 Ventured made its investment in Loyakk, which can mean that this project will become profitable.
No marketing strategy was presented in WP or other documents, despite the presence of CMO in the team. Probably founders believe that their product will be interesting on market by itself, without special actions.
Team looks professional, well-balanced and with real Linkedin profiles. Also, founder’s biography can be verified by Bloomnerg. Also, there are two team of advisors – industry (IT) team and special Blockchain team.
So, looks like team is clear and probably can make things happen.
The Vision of the Market
No detailed market analysis was performed by founders – only brief numbers estimating volumes without any description. But, there is clear that its potential customers are all companies which use corporate information systems of all kinds.
Understanding of the Target Audience
Target audience are all companies which are interesting in corporate information system and electronic document management.
According the whitepaper, product’s main competitive advantage over existing solutions is enabling secured data sharing with usage of business rules and security policies. But existing electronic documents management systems can do it, especially with electronic signs systems. So, looks like advantages were not presented to us.
Project strong sides: received venture investments; strong team from corporate management systems’ developers
Project weak sides: clear business plan, market data and strategy were not presented;
So our position is weak positive.