Expert Coin

Analysis of ICO Qryptonite

28.05.2018

Product

Qryptonite is a specialized digital currency for a printed media industry. Main features are: anonymity, acceptance, easy-to-use, fast, wide distribution, decentralization.

Business Plan

The team plans to build a new blockchain-based loyalty system. Besides rewarding purchases and subscriptions, magazines can reward readers for carrying out activities on social media (like inviting others to join the program). Participants will be able to redeem their Qryptonites as discounts that are given away by partnering media.

The ICO is needed to raise funds for further tech development (like mobile and web wallets creation) and for incentivizing media partners to join.

Marketing Strategy

Social media accounts were created just recently, numbers of followers are modest as of now (end of May, 2018).

Team

Team members have experience in entrepreneurship, blockchain development, marketing and PR, crypto investing, engineering. There is only one advisor - a chief editor of a magazine.   

The Vision of the Market

The project targets print media industry in Netherlands.   

Understanding of the Target Audience

There is no information about target audience. The project will be launched in Netherlands first with long-term plans to expand further.

Competitive Advantage

There is no competitor analysis, except mentions of Facebook and Instagram that changed media landscape forever.

Summary

There is not enough information - neither in the WP or on a website, nor in social media channels - to properly evaluate this project.   

Weaknesses: the WP is only 10 pages long and doesn’t have any key components (financial projections, monetization model, marketing plan, competitor analysis, market research, team members profiles, distribution of funds raised). There is no Bitcointalk thread. The date of ICO is not announced.