The newest issue of Badman Reviews will follow on from Badman ICOs #6 and cover the e-commerce project, Elysian. This review is straight to the point and focuses on what really matters when choosing an ICO to invest in.
Brief
Elysian is a blockchain ecosystem that is intended to carve out a place for itself alongside household names such as Shopify and Amazon. The initial goal is to take over about 1% of the 2.5 trillion e-commerce industry and provide a streamlined blockchain based platform ready for the next generation of online shopping. The platform will provide tools for companies to create their own e-shop and will incorporate artificial intelligence and virtual reality and some of the expanded features. Badman ICOs #6 covers the project in detail and for a more technical overview, it is a great place to start.
Hype
The Elysian project has been quite successful in its ICO and has raised approximately $4 million (21% of hard cap) so far with 12 days of ICO remaining. The Social following is decent with about 5.0K twitter followers, 54.5K telegram members and about 1K subscribers to r/Elysian_ELY/.
Elysian has some great partnerships tactical partnerships including Havven, Airswap and Quoine, with the latter running the ICO directly through the Qryptos exchange. Projects such as Havven have forged an agreement to have their stable-coin used within the platform and Airswap will be utilised for token exchanges at the point of sale, greatly increasing Elysians appeal and usability.
The ICO has been featured in some top publications, including (Coin Telegraph and Coin Gecko among others, and has been well received by the media including Global Coin Report, Bitcoin Exchange Guid and Bitcoinist.
Elysian is widely featured on ICO comparison sites scoring a 4.6 from ICObench, a 5.0 from TrackICO and a 9.2 from ICO Marks.
Competition
There is a moderate amount of competition for blockchain e-commerce protocols which shows that there are suitable demand and a niche ready to be filled. Top competitors in the blockchain space include Bezop and Origami network, although neither have plans to feature atomic swaps, artificial intelligence or virtual reality. This really gives Elysian the edge in my opinion, as it seems like a much more finished and rounded product.
Tokenomics
The Elysian coin (ELY) is a utility token running on the Ethereum blockchain. The token will gain its utility by being used for exclusive staking and voting rights on the platform. 1 Billion ELY tokens will be minted, of which 15% will be available during ICO. The hard cap is set at $14 million and tokens will be sold at a price ranging between $0.08 and 0.12$ per token.
At first glance, this 15% seems low, but it is justified due to the 65% of tokens being held between the reserve and growth pools, designated to give liquidity when the platform launches and to help forge partnerships and system improvements respectively. As only 10% is going to the team these tokenomics are suitable in my opinion when all the angles are considered.
Team
Headed by CEO and Founder Leo Ameri, the 12 person team looks well rounded and capable. Ameri is the founder of multiple e-commerce stores as well as his own company where he travelled to world assisting store owners to scale their online businesses.
The advisory board have a wealth of experience in the crypto field including Stuart Farmer (Lamden - Blockchain Tools), Geoffrey McCabe (DIVI - Digital Currency) and Graham Doggart (Dynamic Abundance - Blockchain Growth Advisors).
Summary
Elysian looks set to make a real impact in the e-commerce market and comes across as a very professional project ran by a very capable team. The ICO has already passed its soft cap and is heading rapidly towards the hard cap, which is not easy in the current ICO market. Elysian will definitely be a project to look out for in the future as it gains real traction in the industry over the next few years.
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ETH: 0xea5924b2a0b977604c9dd02fd4723cf92767a083
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