Analysis of ICO Misscoin
Misscoin is the first international beauty contest based on blockchain technology and organized in compliance with industry’s standards. Blockchain will secure full transparency of the voting process thus creating an unbiased environment for all parties involved - participants, voters, investors. The award ceremony will be held in Cannes, in August 2018.
Business plan lacks major components: financial plan/projections (aside from funding breakdown), competitor analysis, marketing plan. There is a description of product and blockchain technology benefits. The product is reviewed from the investors, voters and participants point of views. The roadmap states that the platform will launch on January 2018 - as of March 2018 there is no MVP or beta. Another milestone is February 2018 - an aggressive marketing campaign and exchange listing - as of March 2018 none of this is achieved.
Marketing strategy is very basic. It includes promotions via social networks, industry publications, blogs and relevant readshows. Current social media activity is non-existent, postes date back to December 2017.
The team has experience in investing, launching web projects, art and development. There is one advisor, a model. There is an obvious lack of industry expertise, of financial and marketing backgrounds.
The Vision of the Market
Since market research is very vague and competitor analysis is non-existent, it’s rather doubtful that there is a clear vision of the market. Plus, there is no industry expertise within the team.
Understanding of the Target Audience
The project is aimed at beauty contests industry and target groups are very obvious from this fact alone: participants, voters, investors.
The main difference of Misscoin contest from all other beauty contest is the implementation of blockchain technology. This provides a competitive advantage: full transparency. The information about distribution of votes will be publicly available.
It seems that the project just stopped or is frozen. The website states that 0 ETH was received.
Weaknesses: No financial projections are given, it’s not clear which revenues of stream will be used. Marketing strategy needs detalization with full-scale marketing plan. The team is weak. The English version of White Paper is written in a poor style, the level of English is bad and it negatively affects the clarity of explanations given.
Overall: the idea behind this project is good and it’s clear that beauty contests industry needs an upgrade. But presentation of the product - both in the White Paper and the website - is poor, confusing and unprofessional.