Analysis of ICO Vikky
Vikky is an application for short-term jobs advertising. Locations of service providers (gardeners, plumbers, etc.) are displayed on the map so users can choose from options closes to them. The platform consists of the following components:
- Tasks (user-posted)
- Catalogue with job listings
Users (employers) should have VIK tokens in their wallets to participate in services search. Users post specific job information, their location and number of VIK tokens they will pay. Service providers (employees) get their payment after completion and verification of work. Service providers are paid a fair amount of VIK tokens, while part of the sum is retained by the system to cover maintenance cost.
When the number of VIK tokens in the wallet is large enough, users have an option to withdraw them to crypto trading platforms and to convert to Bitcoin/Ethereum or fiat money for further usage.
Vikky was launched in Vietnamese market in 2017, in 2018 the total value of transactions is $450000. The team is launching an ICO to expand internationally. Asian market expansion is expected to begin in November 2019. Global expansion - November 2019.
There is no marketing plan in the WP. Vikky platform and app were launched in Vietnamese market in September 2017. At the beginning of 2018 Vikky had 42000 members and over 5000 jobs listed. The team is very active on social media platforms, some accounts were recently opened (Twitter registered in March 2018); numbers of followers are relatively high. According to the WP, 35% of funds raised will be transferred to marketing and PR activities.
Team members have experience in marketing, crypto, IT and app development. There is one advisor with expertise in marketing and consulting.
The Vision of the Market
The WP doesn’t have market research. There is a brief mention of the state of courier delivery services, which is confusing since Vikky targets short-term jobs market. This confusion could be attributed to a rather low level of English in which WP is composed.
Since its launch in Vietnamese market, Vikky app gained 42000 members, so it’s safe to assume that the team has an understanding about potential of local short-term jobs market. This knowledge should be shared in English version of WP.
Understanding of the Target Audience
Target audience is segmented in two big groups: service providers (employees) and users (employers). There is no further segmentation in the WP.
There is no competitor analysis in the WP. The team has an ambition to expand beyond Vietnam, therefore it is necessary to perform a detailed market research and an extensive competitor analysis.
A project itself has potential in short-term jobs market, but the presentation in English - both in WP and on a website - is incomplete and leaves lots of questions answered, according to analysts from expert-coin rating.
Strengths: an MVP of product (launched in 2017).
Weaknesses: there are no financial projections, marketing plan and competitor analysis. The WP is very short; the writing is not clear. There is no FAQ section on the website. Team members don’t have experience in finance, legal, blockchain, management; there is just one advisor; the team doesn’t have an international background.