Merculet ICO Review – Rewarding User Attention with Tokens - Crush Crypto

Merculet ICO Review – Rewarding User Attention with Tokens

Summary

  • Project name: Merculet
  • Token symbol: MVP
  • Website: https://merculet.io
  • White paper: https://merculet.io/static/pdf/Merculet_Whitepaper_V0331a-EN.pdf
  • Hard cap: 37,000 ETH (21,000 ETH to be sold in presale, 16,000 ETH in public sale / ICO participants receive 30% of total tokens)
  • Conversion rate: 1 ETH = 70,000 MVP
  • Maximum market cap at ICO on a fully diluted basis: $64 million assuming current ETH price of $520
  • Bonus structure: 25% bonus for presale participants, with 5 month vesting period with 20% released every month
  • Presale or white list: Yes
  • ERC20 token: Yes
  • Countries excluded: China and USA
  • Timeline: Private sale ongoing (please refer to Merculet’s website for the most up-to-date information)
  • Token distribution date: 6 weeks following token sale completion
Video summary (video is 6:07 long):

Project Overview

What does the company/project do?

Merculet aims to increase user adoption, retention, and engagement for enterprises through their Attention Value Network, and related supporting applications and components.

Attention Value Network: This is split into two main components; the User Attention Value (UAV) system and the Attention Incentive system. The UAV will serve as a tool to provide a reasonable valuation of a users’ attention relative to the business’ or entrepreneurs’ needs.

The Attention Incentive system will allow the business side to create UATs (User Attention Tokens) which will be awarded based on criteria met by the business.

Merculet Open Content Platform: This will serve as a hub for created content on the network, where various levels of contribution (ie translating) will be rewarded MVP. This encourages a robust community that actively engages on the platform.

Here is an introductory video of the project (video is 2:49 long): 

How advanced is the project?

Merculet is going to have a close working relationship with MagicWindow, a company based in China specialized in user growth, scaling and retention.

It should also be noted that the majority of the key members of the Merculet team are also in executive positions in MagicWindow. Merculet also has strategic partnerships with Solo Ads, and ELEX.

Otherwise, their roadmap is as follows:

Q2 2018 - First Beta Release of the Attention Value Network, Beta Application Market release, and onboard early partner ELEX.

Q3 2018 - Attention Value Network 2.0 beta release, Attention Purse beta release, Application Market 1.1 beta release, and Open Content Platform beta release.

Q4 2018 - Attention Purse 2.0 beta release, Open Content Platform 2.0 beta release.

2019+ - Increase the application of MVP in commercial settings, support for enterprise based on smart contracts, modules for Open Content Platform onboarding.

What are the tokens used for and how can token value appreciate?

MVP tokens will be used as a placeholder for the protocol MVP chain until the release of the Attention Value Network. The Protocol will serve to enhance user functionality for engagement, along with allowing the creation of new tokens (called UATs) to engage a business’ customers.

The value of the token should increase based on the number of people using their network, and how many commercial applications that are developed to use the User Attention model. The higher engagement seen from companies would lead to an increase in users and greater adoption of the token overall.

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Team

The team is comprised of 10 listed members, with the following being key members of the team:

Ivan Jiang, CEO - Over 10 years’ experience in software engineering with the most recent being with 魔窗 (translated “Magic Window”), an app growth company, as its founder.

Shen Jun Zhang, CTO - Over 10 years’ experience in software engineering with his most recent also being with Magic Window as its CTO and co-founder.

Jerry Gao, CPO - Almost 15 years’ experience in front end and UI/UX development with the most recent also being with Magic Window as its CPO.

Xiang-Bin Wu, Chief Architect - Over 10 years’ experience in software design/architecting, with his most recent being with Magic Window as its chief architect.

Tony Shen, Head of Mobile Development - Over 5 years’ experience in software engineering and mobile development with the most recent being with Magic Window.

Merculet has brought on a suite of 6 advisors, including Shen Bo, founder of BitShares and Fenbushi Capital, Roger Lim, founder of Neo Capital Group, Iris Yin, founder of Super Hash Capital, and Bin Sen Tang, founder of ELEX.


Opportunities

  • By using Merculet’s platform, users will be able to make money without changing their behavior on app usage, which makes it enticing for them to engage on the platform.
  • The team is comprised of experienced entrepreneurs who have relevant experience in the app growth space.
  • The project is backed by various institutional investors, meaning that it has passed the scrutiny of those investors.

Concerns

  • The project has not released alpha/proof-of-concept, therefore, it is essentially a white paper project.
  • The UAV evaluation could be tricky because users will try to game the system to artificially inflate their UAV score. If users manipulate UAV scores, it would make ad targeting less effective for advertisers.
  • Even though Merculet has a few partnerships in place, it is unclear how those partnerships will drive the adoption of MVP tokens. For example, we believe it is unlikely that tech giants like Alibaba and Tencent are required to purchase MVP tokens to place ads on the platform.
  • The key team members are all working at Magic Windows. It is unclear how they will allocate their time between the two ventures.

Conclusion

Overall, we are neutral about both the flipping and long-term potential of this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Neutral. In the current market environment, we believe the hard cap of 37,000 ETH is rather high for this type of project, especially considering that the project is at a very early stage.

For long-term holding

Neutral. The go-to-market strategy of the project is unclear to us. We are unsure how Merculet will attract users and gain adoption of its tokens. Therefore, it is hard to gauge how likely the project will be successful long-term. The fully diluted market cap is also fairly high amid the current market environment.


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.

This article is contributed by Victor Lai with the help of our intern John Coburn.

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