At the current moment beyond the “crypto-hype” people looking with doubt to such global blockchain projects, the number of people who looking forward for large platforms sharply decreased. Also, main law and technological problems aren’t solved – Visa and MasterCard are still better and all countries have their specific view on blockchain-technology. Another risk – the absence of competitive advantages. Volatility on the crypto-market.
The main risk is presence of some technological imperfections, product is global and it is crucial to be available to service all your clients qualitatively. Also, we can’t determine their product, descriptions are too abstract, they want to build something global but it’s unclear what is their exact product.
Their business model relates to the number of users (community) and token popularity which makes it sensitive to the market and product risks
They aren’t going to take fees from their users which isn’t okay for future cash inflows. Lack of description of their token further functions, which hinder to valuate this token.
Team isn’t very big and we can’t find any outstanding experience. If their product would be successful they will meet need to hire more people.
There are thousands of ICO projects which want to build global Blockchain platform (for example if we browse such projects there are more than 2000 similar ICOs at ICObench). So, we can’t find high demand for such services in the world, this theme was popular previously during the hype across building the “blockchain world”, later people understand that technologically blockchain can’t satisfy all needs and it must be modified. Also, there are a lot of regulatory problems which really cut the market, most of the projects can’t work in USA and China, so the lose big piece. We can’t highlight really big demand and actuality of this product on the market.
They really look forward to the technological part of their product which is crucial, because main advantages announced at their site are privacy, technology and research. But one of the most important characteristics – transactions speed isn’t defined in the whitepaper due to the absence of relevant data. The main idea of building global platform for community, investors, entrepreneurs etc doesn’t look attractive on this market as I have said before, but their strong research and technology might be changed to another successful product.
Utility token business model becomes popular but there are a lot of questions about its sustainability, especially in this project because they haven’t presented their token pricing model and we can’t understand is it useful and is rational to buy this token for getting the access to Tangram. It’s very risky to base your business on the bad utility token without real value for users, it means that you depend on crypto-market which is volatile and weak especially last time.
First money they funded from community fund which is 7,16% of total supply (started from 5% 8 month ago) Firstly it was ≈ 200k $ - which is normal amount to start their project, later they decided to recalculate and increase supply for fund and to set a price 0.05$. During the ICO Tangram plan to offer 65% of the total amount ≈ 6 + mn $. As the decided to take zero fees we can conclude that they will take profit from their token sales and using of funding money. Expected Market Cap is more than 10mn $, but there are better projects on the market with the same pool price.
They don’t disclose much information about their team, we can’t find bright and loud names here, some team members didn’t change their workplace in LinkedIn. But we can see that this project is really active and there a lot of releases, we can check code, so it seems like this team is active but it’s not enough to create such big project.
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