- Project name: Experty
- Token symbol: EXY
- Website: https://experty.io/en
- White paper: https://docsend.com/view/bqasgtq
- Hard cap: $9 million or 33,000 ETH, whichever is lower (ICO contributors own 33% of total token supply)
- Conversion rate: 1 ETH = 1,000 EXY tokens
- Maximum market cap at ICO on a fully diluted basis: US$27 million
- Bonus structure: Different Proof of Caring Tiers with bonuses of 60% + 5000 EXY / 40% + 1000 EXY / 20% / 10%
- Presale or white list: Pre-ICO Tiers for PoC participants, register at https://pre-sale.experty.io/ until January 15, 2018
- ERC-20 Token: Yes
- Countries excluded: North Korea, USA (Accredited investors only)
- Timeline: Crowdsale begins on January 25, 2018, and ends on February 25, 2018 (please refer to Experty’s website for the most up-to-date information)
- Token distribution date: When ICO is finished
Video summary (video is 8:32 long):
What does the company/project do?
Experty is a protocol that brings the “expert network” business onto the blockchain. It aims to connect experienced professionals to users for consulting purposes.
Expert networks in the past were companies that would scout out professionals with a high level of expertise in their field, and offer them work as a temporary consultant for people that were specifically looking for advice in that field. The expert network company will then receive a small commission from the transaction.
Experty’s vision is taking the decentralizing aspect of a blockchain and cutting out the middleman. Knowledge seekers will be able to connect with their knowledge provider of choice without having to go through an intermediary.
They do not plan on using a marketplace type model for their product, instead knowledge providers will be able to share their Experty link directly on their social or professional media such as LinkedIn, email signature, or Twitter profile.
Payments will also be made through a smart contract that directly links the knowledge provider with the knowledge seeker, so payment between the two parties will be nearly instant.
This diagram shows how Experty works in a nutshell:
Experty plans on having the following features:
- Profiles: Users can input their profession, and a small paragraph as to what knowledge they can provide.
- Video and Voice Calls: Users will be able to share their information through a quick phone call or video call, and knowledge seekers will be charged a per-minute fee.
- Messaging and Scheduling: Knowledge seekers and providers will be able to communicate either the best time for them to meet, or discuss as to what they’re looking for before getting into a paid call.
- EXY Tokens: The main source of payment on the platform.
- EXY Wallet: A soft-wallet on the website to hold EXY tokens.
The differentiating concept behind Experty is that their main focus in the beginning is with blockchain/crypto personalities and YouTubers, but they will include a variety of other platforms in the future, including private chatrooms, premium customer support, livestreams, and webinars.
How advanced is the project?
Experty has secured a large amount of advisors/ ”future users” of the product and are letting them promote their product.
The testnet app will be available in December 2017, while the mainnet app is scheduled to launch before the crowdsale. Below is the development roadmap for the project:
Q4 2017: Alpha Release
Q1 2018: Mobile & Web App Beta
Q2 2018: Market Release of Voice Calls and Scheduling
Q3 2018: Video Calls
Q4 2018: Desktop Release
What are the tokens used for and how can token value appreciate?
EXY tokens will be the only currency used on the Experty platform in order for knowledge seekers to have phone calls or video calls with the knowledge providers. The Experty website will have a soft wallet, and a way for users to buy EXY tokens directly using fiat or cryptocurrencies.
As EXY tokens are needed to perform transactions or staking, the more usage and users the Experty platform has, the more valuable EXY tokens should be. There also is an incentive for frequent users to buy a large sum of EXY, as they are able to stake their coins in order receive certain premium benefits for free.
ReactPoland, the company behind Experty, was founded in 2014, with Experty being conceptualized and developed throughout the start of 2017. The Experty team also secured $700,000 in seed funding earlier in the year.
The bios of the key members of the team are listed below:
Kamil Przeorski, CEO – Co-Founder of ReactPoland, self-employed programmer since 2013.
Tom Dyl, Chief Technology Officer– Lead Developer at ReactPoland.
Greg Kucmierz, Solidity Engineer – Former software engineer at Cisco. Primary Solidity engineer on the team.
Advisors of the project include Josh Olszewics, @CarpeNoctom on Twitter, Pawel Bylica, Software architect for Golem and Ethereum, Craig Sellars, CTO of Tether, BlockV, former CTO of Bitfinex, Nicolai Oster, Head of ICOs at Bitcoin Suisse, and more.
- By removing the middleman, Experty is able to provide expert network services at a lower rate than current incumbents. Certain experts currently charge a rate of thousands of dollars per hour and hopefully this would be reduced if they choose Experty.
- The team has already lined up a fair number of cryptocurrency experts ready to provide consulting services when the platform launches.
- By putting a link in the expert’s social media instead of having a centralized place with all the experts' information, we believe it would make it a lot easier for users to consult with the experts.
- Key team members are all software developers who don’t seem to have experience in consulting or working with expert networks. It may be difficult for the team to expand outside the crypto space and into other areas such as legal, financial services, health, etc.
- There is a limit as to the number of calls an expert can take per day, so we believe Experty will need a very large number of experts in order to justify a potential valuation in the range of tens of millions of dollars.
Overall, we like the short-term potential but are neutral about the long-term potential for this ICO. If you decide to contribute into the ICO, participate in the Proof-of-Caring program to potentially qualify for a higher bonus.
Our thoughts of the tokens for short term and long term are as follows:
For short-term holding
Good. The project has a high market awareness, therefore the $9 million hard cap with the potential for higher bonuses is compelling.
For long-term holding
Neutral. Given the team’s background in software development, we are unsure whether they can branch out from the initial focus of the cryptocurrency space. If the team cannot provide a better user experience than current incumbents in the centralized space, the adoption for the project may be slow.
For more information about the ICO, please visit the following links:
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.