Akaiito

Akaiito
ICO date: 13.03.2018 - 18.04.2018
Description:

Akaiito is a marketplace that consists of four parts. Goods marketplace, services marketplace, car and estate rent marketplace and a map that shows places you can pay with cryptocurrency in.

How it works:

Akaiito’s aim is to let people use their cryptocurrency holdings to make purchases in real life. The marketplace works like an aggregator, allowing to sell goods worldwide and offer services globally and locally. Sellers list and market their products, giving them a rigid or floating price based on the exchanges. Buyers can purchase them for cryptocurrency of the platform, AIC.

The platform has a review and rating systems that restrict the possibilities for trade. It is only possible to start selling expensive goods after you have built your reputation on cheaper ones. Another feature of the platform is that taxation is built in the smart contract.

Akaiito offers a secure deal process that involves booking the tokens and only releasing them after the receiving side scans the QR code on the product that arrived. The commission is low too, only 3%, with 1% being returned as a cashback.

Innovation:

Even though, Akaiito  comes up with a secure deal process of their own and combines goods, services and rent in their product, the whole idea of a marketplace where one can pay with cryptocurrency is nothing new.

Innovation score: Medium

Token value:

AIC token offers profitability in the most basic sense. It is expected to grow in price, as demand increases with the growth of the user base. This makes investors’ profit totally dependent on the success of the platform. Unfortunately, there are questions as to whether Akaiito can gather enough users for investors to gain significant profit.

Token value score: Medium

White paper:

The white paper Akaiito presents is not very detailed. It shows a brief market overview, poses some problems the industry faces and offers solutions of their own. Apart from explaining the concept and giving some information on the ICO, it doesn’t do much.

White paper score: Medium

Roadmap:

The roadmap of this project is not very detailed as well. As of today, they have a market research and a mockup of their platform. They plan to launch the beta of the marketplace in May 2018 and the complete beta in September of the same year. The final release is scheduled on February 2019.

Roadmap score: Low

Business model:

One of the biggest shortcomings of Akaiito presentation is the absence of a business plan. The only thing the white paper mentions in the 3% transaction fee. For a project in such a competitive field, though, it is necessary to present a marketing plan and a route to market, as the first stages of the company’s growth are going to be very hard.

Business model score: Low

Team:

Another shortcoming of this project is that neither the official website, nor the white paper mentions a single word about their team’s experience. Looking at their LinkedIn profiles shows that the founder operates 10 projects right now, their PM has 6 years of experience in the field and the company’s co-founder knows the real estate market rather well.

However, it also shows that the project’s CEO has no experience whatsoever at leading big teams, or at leading at all, really. The weird thing about their team is that some members do not state they actually work for Akaiito in their LinkedIn profiles.

The advisory board includes an italian blockchain advocate, an estonian politician, and an entrepreneur with 10 years of experience in ecommerce industry.

Team score: Low

Competitors:

The competition in the industry Akaiito tries to enter is vast. Apart from giants like Ebay and Best Buy, the project will get direct competition form ICOs like FLOGmall, OpenBazaar, Moneo and many others, that serve the same purpose as Akaiito.

With no competitive analysis and no marketing strategy presented, it seems as though Akaiito is fighting a losing battle.

Competitors score: High

Overall thoughts:

Akaiito enters a highly competitive market, but shows little evidence it is going to take a share in it. Its CEO has never led a big team and the project has a lot of presentation drawbacks. Even though we are not in a position to say whether these drawbacks are caused by inexperience or malice, ICOladder cannot recommend investing in this project.

Website: akaiito.io
Whitepaper: Whitepaper

Overall Score

Low

1.8 / 5

Risk score

NA

Crowdsale


ICO

ICO start date: 13.03.2018
ICO end date: 18.04.2018
Soft cap: 1250 ETH
Hard cap: 25000 ETH

TOKEN DETAILS

Ticker: AIC
Token price in ETH: 0.001

Legal


ICO Platform: No
Registration Country: Estonia