Luckchemy

Luckchemy
ICO date: 22.05.2018 - 20.07.2018
Industry: Online gambling
Description:

Luckchemy is a blockchain driven online gambling platform that ensures all the games it offers are provably fair. One of the selling points of this platform is that 99% of the income is distributed among users.

How it works:

Luckchemy seeks to make online gambling decentralized, transparent and provably fair. The platform offers a range of gambling products of their own development and from third party developers. These include lottery, sport betting, poker, slots, bingo and many others.

The company also plans to lease their platform to white label developers for a fee. This both creates profit, brings a lot of games together on one platform for the users and eliminates competitor platforms that would otherwise be developed.

Luckchemy’s lotteries return  99% to player. 99% of the ticket sales go to the prize pool and bankroll. This raises the current Jackpot and further rewards. Lottery tickets can be bought with ETH and LUK, the team is working to incorporate other currencies. Lottery is conducted using blockchain, so the results can’t be faked and are completely transparent.

In some games that the company develops money can be won for free because of the ad monetization.

Token holders get a chance to participate in a monthly Holders’ Draw lottery, funded by 0.5% wagers placed on the platform. Each month 100 tokens win and split the sum. Given that there are 700 mio tokens, chances of winning are slim, but the payout can be rather hefty.

Innovation:

Luckchemy doesn’t change the world, it’s just another gambling product. It does, however, try to incorporate other game developers in its platform, making it more of an aggregator, and offers free winning options as well as a very high lottery return rate. This puts Luckchemy slightly above startups that offer similar services.

Innovation score: High

Token value:

LUK tokens are utility tokens of the platform. All interactions are conducted with them exclusively, and a growing users base will result in raise in price. There is another benefit of holding this token, though.

Token holders participate in a monthly Holders’ Draw, a lottery, funded by 0.5% of wagers placed on the platform in the previous month. Only 100 tokens win each time, so chances of winning are too slim for us to consider this a valid reason to give Luckchemy a mark more than average, but for those investors who believe in luck this is a good choice.

Token value score: Medium

White paper:

The white paper describes the concept of the platform, how blockchain allows the system to be provably fair and presents some of the games the platform will feature. It gives an overview of the market, talks about tokenomics and presents a marketing strategy.

White paper score: High

Roadmap:

The development process started in 2017, today the company has developed general architecture, smart contracts and an MVP. The company has applied for Gibraltar and Curacao licence already.

In the third quarter of 2018 Luckchemy plans to publicly release the platform and start an affiliate marketing program. In the fourth quarter, it will release new games, start acquiring partnerships and publish the first annual report. In the first half of 2019 the company will release more new games, a mobile app, a billing system and will start supporting third party developers’ games.

Roadmap score: High

Business model:

Luckchemy’s revenue sources include fees from third party developers and white label companies.

As the market the company is entering is extremely competitive, it has a very well thought out approach to marketing and is staffed by people experienced in that field.

The company focuses advertising, using techniques like referral program and loyalty program, affiliate marketing, leveraging influencers on different media, as well as display marketing. Since content is king, Luckchemy is going to focus that too, offering an engaging achievements  system, first time bonus and other incentives to users.

Business model score: High

Team:

In his career the CEO moved up from Project Manager in a gambling company to a position of Executive in Business Development. COO has a background in commercial analytics and business planning. He has been working with blockchain, digital marketing and mobile gaming for over 7 years.

CMO has been doing strategy and development for a range of gambling companies in USA and UK for over a decade. The data analyst has experience in trading stocks on NYSE/NASDAQ and a background in financial analysis and risk modelling.

The advisory board features an ICO consultant, a man mentioned in “25 People to Watch” list by GGB in 2016, a gambling industry strategist, a gambling technical expert, a serial entrepreneur and innovator and a licensed lawyer from Las Vegas.

Team score: High

Competitors:

Competition in the gambling industry is quite fierce. There are thousands of gambling project that fail within the first year and dozens of blockchain gambling startups that constitute direct competition to this platform.

However, Luckchemy is well equipped against them. It has a good marketing strategy and is staffed by people with vast experience in the field.

Competitors score: High

Overall thoughts:

Luckchemy doesn’t change the industry much, but it certainly has all it takes to have good chance for success. LUK gives a slight chance of winning a lot of money, but can be considered a good investment even without it.

Website: ico.luckchemy.com
Whitepaper: Whitepaper

Overall Score

High

4.3 / 5

Risk score

Medium

Crowdsale


ICO

ICO start date: 22.05.2018
ICO end date: 20.07.2018
Soft cap: 2,000 ETH
Hard cap: 45,360 ETH

TOKEN DETAILS

Ticker: LUK
Token price in ETH: 0.00008
Bonus Program:

40% up to 105,000,000 LUK sold

20% up to 175,000,000 LUK sold

Legal


ICO Platform: Yes
Country Limitations: USA, Spain, North Korea, Ukraine, Cuba, Syria, Iran, American Samoa, Guam, Marshall Islands, Virgin Islands, Macau, Hong Kong, Sudan, Iraq, UAE, Netherlands, Curasao, France, Puerto Rico
Registration Country: UK