ICO Analysis: InnovaMinexPublished on October 29, 2018
By
Daniel Wonproof:
https://hacked.com/ico-analysis-innovaminex/TeamCEO Fernandez Garcia Sanz: Sanz was the director of editors at EDP zone, a publishing company based in Barcelona.
CFO Raul Berlanga Torres: Torres has worked as an administrative assistant at HP Spain.
Rafa Paez Vazquez: Vazquez has provided UX solutions for Opinno, a management consulting company located in Madrid, was the brand manager at Masmovil, a telecommunications company and the director of art at J. Walter Thompson Madrid.
AdvisorsKate Bublik: Bublik has worked as an ads operations officer at Experian, as a marketing executive at TIMWE, a Portuguese telecommunications company and as a marketing analyst at Eaton Moscow.
VerdictBelow is a breakdown of the risks and growth potential of InnovaMinex.
Risks Community interest seems rather low on social media platforms like Telegram and Twitter (~350 followers on each platform as of writing). (-2)
The hard-cap of $52,500,000 seems too high for this project given the current state of the ICO market. (-2.5)
Growth Potential The project is already quite ahead of the curve as they already have started to build facilities to conduct their operations. (+4)
Many team members have worked for mining companies or in relevant industries. (+3)
DispositionPrecious metals are widely accepted as one of the safest investment tools. Their rarity and durability are just two reasons why they hold high financial value. As higher purity implies higher value, its purity should be estimated by trustable sources, yet the average person does not have sufficient tools or knowledge to verify any such claim of purity. InnovaMinex provides tools to trace precious metals from the time when they have been mined to the time when a buyer has his or her hands on them. As all this data is stored in a public immutable ledger, not only can anyone verify a precious metalTs data, but these metals also cannot be used for illegal activities. INX token owners are given several benefits with the most impressive one being coupons and discounts to be used in the InnovaMinex e-commerce platform. Still, social media interest in the project seems low, and the team is looking to raise a bit over $50 million, which seems high given the state of the ICO market.
But, it should be underlined that the team has great experience in the mining industry and has been working on the project for a considerable amount of time. As the first phase of the public sale will offer a bonus of 30% the ICO investor should make his or her decision by then to not miss it. InnovaMinex receives a
2.5/10.Investment Details Type: Native Ц Utility
Symbol: INX
Platform: Native
Crowdsale: November 26th
Minimum Investment: 1 INX
Price: $0.5
Hard Cap: $52,500,000
Payments Accepted: BTC, BCH, ETH, LTC, DASH, ETC, USDT, and XRP
Restricted from Participating: Unspecified
This is not exactly the right approach when evaluating a project.
You focus on social activity to calculate the popularity of the project among the cryptocurrency community. “BUT” - most investors join the projects only after the start of sales. Very few people come to get acquainted with the project before the start of Crowdsale.
This is due to the fact that among investors in this market there is a widespread practice of investing in many projects that look interesting. That is why such investors come only after the start of the sale procedure. These people are not active on social networks, but simply buy tokens and leave. They periodically return to ask about the success of the project, but this will not create visible activity on the project’s social networks.
All your assessment is focused only on activities in social networks. But the activity can not be great, if the project has not yet begun to be sold. I participated in a large number of ICO projects, and I can talk about such things.
HardCap is the amount after which it does not make sense to continue selling. Projects that collected HardCap can be counted on the fingers. This is not an indicator by which you can evaluate the project. HardCap is the amount on which the project can count only in the case of the crazy popularity of the project in the bull market.
No one is focused on HardCap simply because very few people are waiting for this amount to be collected. For stable development of the project does not need HardCap.
This is my personal opinion, but I cannot rely on an assessment that does not reflect the potential of the project and is based only on the number of comments on social networks. All the work you have done - you just rewrote the purpose of the project, added a couple of lines about the team and found comments on social networks. I can not trust your opinion.
