I like open platform, but I feel that their hard cap is just a little bit too high relative to the team’s strengths. In a bull market I would be bullish on the project but because the markets are very unstable at the moment, I do think they’re asking for too much money.
Open platform basically wants to create an agnostic payment solution and this is going to be integrating crypto currencies into existing applications. They have a working product.
The market for Stripe or PayPal alternatives in the crypto space is very very saturated. You`ve got Manisa, YouTrust, CoinBase and many other competitors.
I am bullish on the project and I think if the market does pick up this could do quite well, but again to get in at the early stages I’m hesitant. For the token economics I gave it 40 out of 100 the reason for that is the hard cap.
With the team I think they have a very competent team but not a world-class team so I gave them 60 out of 100.
For hype I think these guys have got a lot of hype behind them. (70 out of 100).
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:
Neutral. The hard cap of $30 million is on the high side in this market and at the current ether price. We don’t see anything especially standout about this project to warrant a high unmet demand.
For long-term holding
Neutral. We see 3 areas of focus for Open Platform (targeting existing applications, broader online merchants, or dApps), none of which is compelling as detailed in our “Concerns” section.
Also, the 3% transaction value to fund the Developer Growth Pool adds up very quickly for applications, making it less appealing to use the platform.
Therefore, we are uncertain about the level of adoption Open Platform will have.
The project is backed by a capable team with some prominent advisors on the board. Hype is rather high, but the hard cap is going to be reached through the pre-sale. The team is delivering in accordance with the roadmap and has already presented its MVP 2.0. The project is planning to operate in the application payment niche and does not have direct, decentralized competitors. The only concern we have is its 3% transaction fee, which is rather high and out-of-step with the overall tendency to make fees as low as possible.
1. A comprehensive framework for cryptographic billing systems is expected to be of significant demand.
2. There is a possibility of enjoying a monopoly position because there are relatively few competitors.
3. It has real MVP and has a fast road map.
A complementary point
1. They must recruit a large pool of developers to win a second-tier company competition.
2. They have to spent more than other ICOs on marketing expenses for their market penetration strategy.
3. It is important to get clients quickly.