Analysis of ICO Monoreto
Monoreto is a blockchain-based social network where everyone can get rewards for their unique and interesting content. Each like will bring the creator of a photo or video liked at least 5 cents in Monoreto tokens.
Professional bloggers will be able to join Monoreto social network and earn additional money. And users who have created quality content but have not received any monetary reward for it can start getting a regular monthly income. Monoreto encourages people to create quality photo and video content and enables talented users to earn from what they produce and be motivated to create more. The most popular content will be highlighted in the Monoreto newsfeed and allow content authors to expand their audience. Also Monoreto will help to raise funds for charity as well as for business ideas.
The project team is also developing a mechanism for Monoreto users for easy publishing their Monoreto content on other social networks (Instagram, Facebook, etc.) with a single click.
But why would a user pay for liking photos? Every user that liked content participates in a competition of predications and will be able to win a solid cash prize. So, Monoreto will make it possible to effectively promote brands and companies without annoying ads. Now all what is needed to be done is to post quality content in relevant categories. And attention from users participating in the prediction contests is guaranteed.
The idea of the project is exciting and equally useful both for users who create interesting content and for brands who want to attract users ' attention in a natural way rather than annoying advertising.
ICO Soft Cap is $1,000,000; ICO Hard Cap is $15,000,000. These figures look quite realistic to implement the project.
The Alpha version of the platform was released at the end of 2017. And this is a big plus of the project. Further development of the platform is planned until the 3rd quarter of 2019.Token and fund allocation is as follows:
- 63% crowdsale participants
- 23% initial platform users
- 11% remains the company’s share
- 3% used for bounty prizes.
- 50% development of the Monoreto platform
- 25% marketing and advertising applications
- 15% future development of the Monoreto platform
- 10% legal regulations.
The MON token will be used for transactions within the platform.
In general the business plan looks clear, understandable and quite adequate for this kind of product.
The founders of the project realize their main task is to attract users to their social network. Therefore they see the marketing strategy at the initial stage of the project as follows.
The first 500,000 users will be attracted with a small startup capital that will be required to get familiar with the platform’s functions. 18% of MON tokens are planned to be distributed among them. Another 5% of tokens are planned to be distributed through various marketing campaigns designed to increase Monoreto’s Internet popularity. After the platform’s launch the Monoreto team will focus on promoting the project among bloggers, celebrities and large companies that produce goods and provide services. The team expects that celebrities and opinion makers who open accounts on the platform will bring in new users.
The founders of the project understand that it’s hard for users to abandon other social networks. That’s why they are trying to simplify this process as much as possible. Users can easily publish their Monoreto content on other social networks (Instagram, Facebook, etc.) with a single click.
Marketing strategy looks clear and quite relevant to the project of this type.
The project team includes 10 people with extremely diverse experience in enterprise, blockchain technologies, application and software development, information security and marketing. The team looks ambitious and confident in their abilities. And its diverse experience makes it possible to successfully implement the project.
The Vision of the Market
The project description provides an analysis of the most popular social networks (Instagram, Facebook, Reddit, Twitter, VK) as of January 2018. The main segments of social networks users are described:
- active users (for example bloggers) who create and monetize their content;
- users who create high-quality content but don't monetize it;
- users who don't create their content but consume someone else's content.
The founders of the project see the problem of the market in the fact that users creating content don't earn any income but social networks do it.
Also there are statistics of the survey of users dissatisfied with the dominance of advertising in social networks and very detailed statistics on the most popular social networks. Such indicators as the number of users, the dynamics of social network growth, the use of social networks for business and others are analyzed. Special attention is paid to the analysis of Facebook and Instagram. The audience of these social networks is studied in great detail.
Thus we can confidently assert that the founders of the project understand the market in which Monoreto will be promoted.
Understanding of the Target Audience
The founders of the project see the users of traditional social networks as their target audience. There are three main segments of the target audience:
- Authors of high-quality content who can be rewarded for the content they create and be independent on advertising;
- Users who rate and like the content. Their motivation is an opportunity to win a prize by active participating in the content evaluation and to increase their rating. This motivation compensates the need to pay money for each like.
- Business. Brands will be able to promote their products and services not only through creation of high-quality "organic" content but also through advertising accounts. Ads will be targeted and native.
The project team is well aware of who and why needs a new social network Monoreto.
The project team sees the advantages of the platform Monoreto in the following:
- Monoreto gives every user the opportunity to earn from posting photos and videos;
- Monoreto increases the significance and value of likes and improves the quality of content;
- Monoreto reduces the need of ads for bloggers as a monetization method;
- Monoreto makes fake likes and bots unprofitable;
- Monoreto solves the problem of content theft widespread on social networks by offering users a mechanism to automatically check content for uniqueness.
All these advantages are what already existing social networks lack. Monoreto has a chance to take a leading position among social networks due to these features.
The project has several significant advantages:
- Interesting concept of the product;
- Strong team;
- Notable competitive advantages;
- Clear understanding of marketing strategy and target audience.
The disadvantage of the project is a high competition on the market of social networks.