Executive Summary
Project Description
The virtual goods marketplace is one of the fastest growing in the world with the mobile phone section being their most lucrative; in 2017 alone, the mobile apps industry raised over $108.9 billion in revenues. However, users of virtual goods suffer from limited functionality on their mobile apps; they can only make in-app purchases, missing out on other things that would improve their experience such as: getting value and virtual assets from other apps and trading with other community members. This need for marketplace other than the one provided by the app developers gave rise to a black market. The black market flourished, and as at 2015, it was worth $5 billion.
To solve the problems in this sector, the traditional blockchain solutions will not suffice; nodes drain too much energy, burning through phone batteries quickly, and the current blockchain scaling solutions cannot work on phones.
GoNetwork wants to improve blockchain accessibility on mobile platforms and their first use case is GoExchange, an Ethereum-based (and decentralized) virtual goods marketplace that eliminates the mobile apps problems mentioned above.
On GoExchange, goods can be traded without fees using state channels. To set up a state channel, a user will have to pay a fee using GOT, GoNetwork’s token. Additional features on GoNetwork include: a GOT credit card that allows you to spend GOT like fiat on the platform, rewards for leaving a state channel functional for a long period of time, a convenient way for content creators to mine virtual goods etc.
GoNetwork have a MVP available and it will be integrated into Infinidy products (with ~15m downloads), and into dubsquad (with over 1m downloads).
Hard Cap and Valuation
There will be a total of 100 million GOT tokens. 50% of this total will be put up for sale, 25% goes to the team, 20% will be used for dev, marketing, ecosystem incentives etc.; and the final 5% is for the advisors. The team tokens are locked, reducing the available supply to 75% of the total.
Important Dates
Whitelist registration has started already, and the ICO date is expected to be announced soon.
Marketing Power
As at the time this post was published, GoNetwork had over 22000 Telegram users, 12000+ followers on Twitter, over 790 subscribers on Medium, and 540 YouTube subscribers.
Prominent Advisors
Ian Balina
- Cryptocurrency Investor, Advisor and Influencer.
Howey’s Test
According to Howey’s Test conducted by Research Center analysts, it is unlikely that GOT will be considered a security.
Team Members’ Areas of Expertise
Business experts
Rashid Khan, CEO.
Jesse Guild, Business Development Manager.
Target market experts
Rashid Khan, CEO.
- From his work at Infinidy.
Xun Cai, COO.
- Experienced from his previous work at mobile focused companies (see software development experience).
Marketing experts
There is no team member with notable marketing experience. However, they are well-connected with people who have significant marketing experience, therefore, marketing will not be a problem. Additionally, one of their advisors, Paul Allamby, has over 11 years of marketing experience from running his own consulting company and working at other marketing jobs.
Legal experts
Maanas Rautela, Legal.
- Legal advisor at Infinidy for 11 months.
- Corporate and Real Estate Associate at RJS Law for 9 months.
Software engineering experts
Rashid Khan, CEO.
- Software Engineer at SAP for over a year.
- Software Engineer at BlackBerry for over a year.
- Senior Software Developer — IPTV Lab at Bell for 4 months.
Amit Shah, CTO.
- VP Software Architecture and R&D at BlueRover for over 5 years.
Xun Cai, COO.
- CTO and Creative Director at Dubsquad for nearly 3 years (ongoing).
- CTO & Creative Director at Infinidy for 8 years.
- Software Engineer at EA for 9 months.
- Software Engineer at BlackBerry for 8 months.
Miao Jiang, Scalability and Network Security Researcher.
- Software Engineer at Google for over 6 years.
Harry Peng, Scalability Architect.
- Software Engineer at Google for over 3 years.
- Software Development Engineer at Amazon for over a year.
- Software Development intern at Autodesk for 7 months.
Blockchain development experts
Amit Shah, CTO.
- Contributed to several open source Ethereum projects.
Token sale structure
No team member with prior experience in token sale structure.
Token economics
Same as above.
Disclaimers:
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
The analysis was produced by Research Center team members: Robin Davids, Mark Jedd, Eugene Tartakovsky.
We are constantly working on improving our work and we welcome all constructive feedback. Let us know what you think.
Follow us and subscribe to receive regular reports!
Follow
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit