Expert Coin

XRT ICO

Decentralized peer to peer ERC-20 compatible token designed for the food industry
2.1
Total score
Category:business-servicescryptocurrency

Detailed evaluation of the project

2
Product
3
Business Plan
4
Marketing Strategy
2
Team
1
The Vision
of the Market
2
Understanding of the Target Audience
1
Competitive Advantage
Basic expert assessment of the project XRT ICO

Product

XRT is a project of XRT Foundation, which intends to become a partner of large companies in the food industry. XRT is an application for payment for services of food industry companies (restaurants, cafes, etc.). Consumers will be able to pay in XRT tokens and in fiat currencies.

The payment method using XRT is more secure than traditional payment methods.

In addition, the XRT platform can be used to advertise cafes, bars and restaurants.

We can't say that the idea is original. Many payment systems already exist. And tokens and blockchain don't look very appropriate in such a project and only burden it.

Business plan

The  XRT platform development will start in Q3 2018 and will be completed by the end of 2018.

Hard cap and soft cap targets are set in tokens. It is not clear how much the project plans to collect in dollars or cryptocurrencies.

Obviously, the XRT token will be a utility token, and the platform will earn on commissions from payments. Tokens will be listed on cryptocurrency exchanges.

The business plan is typical for this kind of project, but not detailed enough.

Marketing Strategy

Marketing strategy is divided into several directions:

  • XRT Foundation brand promotion
  • Advertising in social networks
  • SEO and SEM promotion
  • Building community and dealing with promoters
  • Partnership with companies in the food industry.

The marketing strategy is not too detailed, but it is, and that's good.

Team

The team consists of 6 people with experience in marketing, sales, event industry, project management. It is worth noting that the project participants don't have any serious experience in the food industry and look more like a bunch of inexperienced enthusiasts. The description of each team member's experience says a lot about enthusiasm and almost nothing about real work experience and professional achievements.

The Vision of the Market

The project is primarily aimed at the Asian food industry market.

Market analysis and comparison with competitors are not given.

Understanding of the Target Audience

The target audience of the project is food industry companies (cafes, bars, restaurants, food stores). Another part of the target audience is consumers. But the founders of the project don't answer the question why business and consumers need XRT platform.

Competitive Advantage

The founders of the project say that transactions on the XRT payment platform will be safe and fast. But it is not clear why XRT is better than existing payment methods.

Summary

XRT project has only one advantage – the presence of marketing strategy.

The disadvantages of the project are as follows:

  • Weak team
  • Unoriginal product idea
  • Lack of market and target audience vision.

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