Analysis of ICO Naviaddress
NaviAddress is a unified digital ID for any place and object in real and virtual worlds. The system has been developed by the Naviaddress Platform Operator based on patented technology which is able to assign a digital address to any location in the world. The platform engages people and companies to create/assign, modify and exchange addresses. The product presents solution to existing limitations: complexity of addresses in different languages, lack of information in a given address etc. NaviAdress offers digit addresses, which are clear, universally recognizable and simple. An MVP is available on Google Play and App Store.
Business plan is missing financial projections and marketing strategy. All other components are present in the White Paper and on the website. NaviAddress uses freemium model. Monetization through the NVT tokens revenue: premium naviaddresses (they will be sold through auctions, the platform shall retain the difference between auction price and nominal NVT price), fees for storing of content rich private metadata. There sources of demand for NVT are also indicated based on market data. The roadmap is detailed and has enough milestones.
There is no mention of marketing strategy. The product was developed in 2015 and has solid number of users. The team is very active on social media and has good followings. Plus press coverage is quite good. There are signed partnerships with some big names also. But the market is tough so the product needs more promotion and marketing efforts.
The team has experience in entrepreneurship, management, development, finance, marketing and computer science. The board of advisors is very strong and adds expertise in crypto, finance, consulting, business development and mobile.
The Vision of the Market
The team has clear vision of the market due to extensive market research and competitor analysis. The White Paper has lots of data and stats about market, current limitations are listed and explained. The need in simple and user-friendly unified addresses is there, so the niche is captured correctly.
Understanding of the Target Audience
The company has an ambitious goal to make all people - individuals and businesses - users of their platform. In general, it is so, because everyone uses addresses. But segmentation is still needed.
The competitor analysis is thorough and extensive. NaviAddress advantages are clearly indicated: simplicity, unification, transparency, digital IDs for objects (not only places) in real and virtual world. They also have software which was tested and approved by users and partners.
Strengths: The team is working from 2015 and the following stats are available - $2.5M angel and seed round in 2015-17; 1.5M addresses in the system; 60k registered apps and users. An impressive list of partnerships with Uber, Booking.com and DPD among others. Solid following on social media. Multi-usage of platform: order delivery to Naviadress, make booking, call a taxi etc.
Weaknesses: no financial projections, no marketing plan. Target audience is too broad, a segmentation is needed. Website has more information than the WP - WP is more focused on explanation of system’s functioning and architecture behind address creation.