ICO Review: Effect.AI (EFX) the Decentralized Network for Artificial Intelligence
Effect.ai is an open, decentralized network that provides services in the Artificial Intelligence market.
Youtube link:
The project is divided into 3 main phases:
- Effect Mechanical Turk is a workforce on demand that allows anyone in the world to request or perform tasks that teach and develop AI algorithms
- The Effect Smart Market is a decentralized exchange where people can offer and buy artificial intelligence/machine learning services and algorithms.
- Effect Power is the last phase in which Effect.ai distribute the computational power needed to run deep learning frameworks and other AI algorithms.
Tokens:
2 token system: EFX and G-EFX tokens managed through which Galaxy Pool ensures stable exchange rates for users of the network at all times - this means less volatility.
EFX tokens are the main currenty in the platform meaning workers to sell their EFX rewards for native tokens and network users to buy EFX if they wish to do so.
G-EFX are tokens that haven't gone through Effect.AI Service Contract. This means tokens that haven't gone though tasks and services
Conclusion:
The Effect.AI appears to be nicely planned out for long term success and done by a very experienced team.
I feel that there should be a lot of FOMO because of the low marketcap when compared to the competition. Because of that there should be demand for the tokens.
Verdict: 9/10
Hype factor: very high
Short term investment score: 9.5/10
The tokens economics and the increasing amount of hype should result in plenty of demand. AGI did a nice return and Effect.AI might be seen as an alternative so people will try to get in for profit. It's also on NEO which might increase interest further.
Long term investment score: 8.5/10
The project is ambitious but the team does appear to have the knowledge needed to pull it off. The lack of prototype is the biggest concern but once the MVP is released that should remove any FUD and generate further demand.
Links:
ICO website: https://effect.ai/
Company website: https://itsavirus.com/
Whitepaper: https://effect.ai/download/effect_whitepaper.pdf
Medium: https://medium.com/@effectai
Twitter : https://twitter.com/effectaix
Facebook: https://t.me/effectai
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