Foleum is a project of establishing green-powered (i.e. with a hybrid of a wind turbine and a solar panel) data centers designed for mining Bitcoin or other cryptocurrencies. Token (‘crystal’ in WP terms) holders will receive up to 60% of project profits on daily basis in cryptocurrencies mined. This means that Foleum is a cloud-mining project like Genesis Mining or Hashflare.
These projects are having these main issues:
So, this project looks interesting but very risky, despite of additional project income source from selling mining rigs online. Project will become fully operational in Q1 2019.
80% of all generated tokens will be sold during pre-ICO and ICO. 10% of tokens will be distributed for team, and 3% for marketing (bounty and airdrops). WP contains calculation of profitability based on electricity cost and Bitcoin price movement during 2017/2018, so it looks well-analyzed project – risky, but with a potential. There is no analysis of energy cost using their own sources versus usual energy networks.
WP contains no marketing strategy presented.
Team has no links to LinkedIn profiles on website but easily can be find via Google search. Team looks professional, well-balanced and having professionals in management, marketing, finance, IT and especially blockchain. Additionally project has strong advisors board with ProjectICO founder.
Founders performed a brief analysis of mining rigs profitability and scaling it using estimations of funds planning to raise during ICO. But there are no analysis of potential users of this technology – investors in cloud mining projects.
WP and website contains no information about project’’s target audience but looks like it is cloud mining investors community.
WP contains no competitive advantage analysis. Probably main competitors are cloud mining projects with their own data centers like Genesis Mining Ltd.
Project strong sides: interesting idea; analysis of mining rigs profitability; token usability as a kind of shares.
Project weak sides: lack of marketing strategy and analysis; absence of energy cost analysis and comparing with usual source.
So our position is neutral.