HOT ICO: Experty.io

Today I have the great pleasure to initiate the HOT ICOs series. Every few days I will post a short description of projects currently carried out by ICO or planned to be executed in the nearest future.

If you don’t know what ICO is, then in short it is a possibility to invest in blockchain projects at their early stage of development. The project creates a token on which the project’s economy is supposed to be based in the future, and distributes it among the interested parties. Usually the token’s price in terms of ICO is lower than that a few weeks or months later on the market. Although, it is not a rule.

Today’s episode features the Polish project Experty, formerly known as Consultations Network. In short, Experty is like Skype but allows us to charge fees for talks carried out with us. These fees are of course charged with the use of a cryptocurrency, and more precisely Experty’s token: EXY. What is interesting is that the platform does not charge anything for carrying out such a talk. The total sum is transferred to the person we are talking to. That person individually sets the price which is settled in a minute-billing manner, and thanks to taking advantage of blockchain the sum is immediately transferred from the caller to the person we are calling (well, almost immediately, Experty bases on Ethereum and the network can sometimes be slightly blocked).

Let us for a moment talk about the market on which Experty wants to operate. It is the market of paid consultations, in terms of which a person possessing knowledge may share that knowledge with others during private consultation sessions. Because the project uses tokens, it initially wants to take advantage of experts, influencers, and youtubers associated with the subject of crypto. Such people receive a myriad of questions concerning crypto and do not always have the time or will to answer them for free. However, if such a person sets a price for one minute of his or her time and installs the Experty app, then other users will have the chance to reach the expert and hear out what is his or her opinion, with a clearly set price per minute. A similar idea is presented by the earn.com project although, in its case we do not pay for the possibility to hear out an expert but for the possibility to send him or her an email. 

Experty starts with the cryptocurrency segment because for these people using crypto is already natural. The barrier for using it is minimal. Currently the project promotes itself with a few well known faces which will use Experty as a way to monetize their time and knowledge. These faces include for example Omar Bham from the Crypt0 channel. In time the project intends to reach for following niches, thus participate in promoting cryptocurrencies.

It also has to be mentioned that Experty is not a marketplace where we will be able to search or browse through experts. It is a tool allowing for a paid communication between experts and interested parties which the experts are going to set within their already existing communication channels, social media, etc.

Finally a few words about ICO itself. It launches on January 25th and will last for one month. Over that period the project intends to collect from 2 000 ETH (soft cap) to 9 000 ETH (hard cap). These correspond respectively to circa from USD 2.6 million to USD 11.7 million. Taking into consideration that the project intends to sell ⅓ of the tokens, then it gives a general valuation of USD 7.5 - 35 million which allows to notice a reserve of up to a multifold of rates increases over the following months (this is not an investment advice). The minimum sum which we may invest corresponds to USD 1000 and we will be able to transfer it in ETH, BTC, USD, CHF, EUR, and JPY. ICO itself will be carried out via the Bitcoin Suisse platform which is the project’s partner and declares to use the platform in its daily business activity. 

Three days before the launch of ICO the so called pre-ICO will take place. It will constitute a limited possibility to purchase EXY tokens at a discount price. In order to be able to take advantage of that possibility, it was required to participate in the Proof of Care program not later than January 15th. In short, the program indicates that you care for the project, for example by writing valuable posts about it in social media (such as this one), recording videos, or presenting it during various meetups. If you want to know more about the projects, then I encourage you to see my interview with the project’s creator Kamil Przeorski. The interview has been recorded on November 7th :

https://bitcointalk.org/index.php?action=profile;u=1270501