Today on ICOs This Week we are looking at three very interesting ICO reviews on eHarvestHub, a project that aims to make food accessible to all; Photochain, which plans on offering a blockchain solution to the conventional photo stock; and BitRewards, a new crypto-based loyalty program.
eHarvestHub: Making Food Accessible To All
eHarvestHub is a blockchain solution aiming to solve today’s food supply chain problems that the world is facing. Their mission is simple: to directly connect small-to-medium-sized farmers with distributors to increase profits while making food more accessible and less expensive to the consumer. The idea sounds marvelous and is already generating a buzz. Their whitepaper is well laid out, explaining how the produce supply chain can be improved and the steps they will take to achieve this.
Token economics: they’re launching their pre-ICO EHH token sale on April 5th, going through to April 18th. Maximum supply is 22,100 EHH, with a minimum contribution of 0.1 Ether. The soft cap is set at $2 million and the bonus will depend on when you purchase the token, ranging from 35% to 5%. eHarvestHub is proposing a security mechanism for funds to be released, requiring up to five signatures from diverse members of the group, bringing much more security to the investment made.
The ICO will start on April the 28th and will last until May the 24th. The maximum sale is 25 million EHH tokens, with a price per token of 30 US cents and a minimum transaction amount of 0.15 ETH. The soft cap is again $2 million and they offer bonuses lower than the pre-ICO but also dependent on when you buyout. The maximum EHH tokens for the project will be 125,999,950 with 60% going for the ICO and the rest distributed among the company, advisors, marketing and others.
EHarvestHub is offering to solve an existing issue within the food supply chain: how small farmers and the independent distributors who move food to the major supply chain lose profit through inefficiencies, while consumers pay high prices at the grocery store and have no idea where their food came from. The solution? To decentralized the supply chain by enabling small farmers to sell directly to grocers from around the world, allowing them to hire delivery agents to go from point A to point B without the middleman. The solution allows farmers to get paid higher prices, the distributors to make more money and grocers can provide consumers with true food transparency. Their cryptocurrency will serve as payment method for all parties involved in each transaction. The project already has a few investors on the table, they’ve won various competitions around the globe, and they have a strong business model and a team that could lead them all the way up.
Photochain: Blockchain Powering The Conventional Photo Stock
Photochain is a blockchain technology driven to reinvent conventional photo stocks. They offer a service which could benefit both the contributors and customers by lowering fees, allowing a larger margin of profit. They will offer a peer-to-peer marketplace where artists can offer their work to many potential buyers within the Ether platform. Their work will always be linked to their name and payments will be permitted in cryptocurrency.
Token economics: they’ve already closed their pre-sale and now they’re starting their main sale on April 6th so you may have to hurry if you want to be a part of this one. The end date for the main sale is May 18th and the price per PHT token is 12 US cents. The number of PHOTON tokens available is 230 million. The hard cap is 170 million PHT. The minimum transaction is 0.1 Ether or the equivalent in Bitcoin and the maximum transaction is 1,000 Ether or the equivalent in Bitcoin. The money collected will go into IT development and marketing (about 30% each).
Photochain offers a Digital Copyright Chain that will serve as database and is stored on the blockchain. The purpose of this database is to maintain data that securely links digital work to its artist. Such a system will reduce the number of copyright infringements as ownership is indisputable. They’ve got a good set of advisors and have just won third place during the Blockchain Leadership Summit, which shows they’ve got a good idea on how to tackle this industry.
BitRewards: A Crypto-Based Reward And Loyalty Platform
BitRewards offers a loyalty points and cashback program in cryptocurrency that provides rewards on blockchain to merchants and buyers. They’re looking to bring a fresh change to the e-commerce business by enabling online retailers to reward their customers with a cryptocurrency called BIT. They plan to bring stores on board by offering the platform to them for “free”, implying that they would only have to buy BIT for their customers.
Token economics: they have completed the private pre-sale and now they’re going with the whitelist pre-sale on April 9th until April 11th and the main sale will begin on April 12th through to May 9th. The token supply is 2 billion BIT, with a soft cap of $3,000,000 and a hard cap of $15,000,000, having all unsold tokens burnt. The minimum amount of BIT tokens for purchase is 1000 and the price per token will be 0.00003472 ETH.
The whitepaper is well laid out, putting forward the problems the current loyalty reward systems have and how they’re planning on solving them through their system, product architecture and business model. The budget allocation will go as follows: dedicating 37% of the budget to marketing, sales, merchant acquisition & partnerships, 27% to product development and the rest to operations, legal and management.
BitRewards originated from an existing business product called GIFTD.tech, which they’ve been running for five years. It’s a rewards and loyalty SaaS for small and medium-sized online stores, which provides a huge and rapidly-growing market. The project has great scores on ICO bench, ICO renting and so on. The team is well-seasoned, they have good advisors and you can find out all about it on their website.