MonsterBit

MonsterBit
ICO date: 20.07.2018 - 20.08.2018
Industry: Gaming
Description:

MonsterBit is a better version of Cryptokitties. The creators do not hide the fact that they copy the basics of the game, since they add a lot of new features that make it stand out. Considering what MB token gives to its holders it very well may be true.

How it works:

Many companies copy games with big financial success. MonsterBit intends to do the same in the crypto games world. Cloning a game ensures that  there is a market for this kind of game mechanic and reduces risk of failure.

MonsterBit is essentially Ctyptokitties with a few addons. Players buy monsters and grow them by waiting or feeding them food items that can be bought in the shop or acquired by watching commercials. Once monsters become big, they can be bred to produce new species. Monsters can be bought and sold on the marketplace as well.

MonsterBit introduces fighting to the game. Users can fight each other with blasters sold in the shop to gain food, weapons or monsters. Another prominent feature MonsterBit offers is advertising products with your monsters and getting paid for it.

Only 20% percent of monsters will be able to do that and the algorithm for deciding which monsters can is kept in secret. This means users have an incentive to breed monster to increase their chance of producing an advertising monster.

Players have another way of cashing in on their monsters. MonsterBit sells plush toys of monsters created by players. Owners get a 15% cut from each toy sold.

Innovation:

MonsterBit doesn’t reinvent the wheel, they just add some new features to a successful game model. These features are unique enough to grant the company a medium score in this category.

Innovation score: Medium

Token value:

MB tokens bring a lot of profit for holders, but in an unorthodox way. MB tokens allow users to buy System monsters. These monsters generate the system.

These monsters do not grow nor breed. They receive a part of commissions in the system, generate food, weapons and Gen 0 monsters that can be sold on the marketplace.

Token value score: High

White paper:

The white paper of the project is rather brief. It explains the concept of the game and justifies copying a successful project, outlines monetization model, and shows some key competitors the company has.

White paper score: High

Roadmap:

So far the company has developed basic architecture of the game, algorithms for the marketplace and designed a hundred Gen 0 monsters.

In June 2018 MonsterBit will release the first version of the game, adding advertising features and online shop with plush toys. By September the company will introduce monster battles. Mobile apps will be released in October 2018.

Roadmap score: High

Business model:

Apart from a 3.5% fee on transactions within the system, MonsterBit receives 30% from advertising through monsters, 85% from toy sales and an undefined cut form selling monsters, food and weapons on the marketplace. Considering potential transaction volumes this leaves the company with a pretty big sum, but does not infringe on users’ income.

Business model score: High

Team:

The company’s CTO has over 15 years of experience in webdev. Lead blockchain developer has over 7 years of experience. Game designer has been in a similar position since 2011.

CEO, however, doesn’t have any experience mentioned on the site, does not have a LinkedIn account and never disclosed any details about his previous occupation to the team, except that he is a serial entrepreneur.

This means it is impossible to give MonsterBit a high mark in this category. We are in the process of obtaining information on CEO’s skills. Stay tuned to the updates.

Team score: Medium

Competitors:

Apart from Cryptokitties, MonsterBits names Etherium monsters (Etheremon), Cryptopets and Cryptopuppies as its direct competitors. Etherium monsters are rather good, but they lack monetisation features that MonsterBit has, the last two are too simplistic.

Competitors score: High

Overall thoughts:

Even though MonsterBit just copies another game, it has potential. The company introduces a few very important addons to the game mechanics that allow monetization for players and ICO investors. Given the game gains popularity MB holders can get a lot of profit.

However, investing in this project requires token holders to pay attention to their investment, as making a profit on it means selling ingame items.

Website: monsterbit.org
Whitepaper: Whitepaper

Overall Score

High

3.9 / 5

Risk score

Medium

Crowdsale


Pre-ICO

Pre-ICO start date: 25.04.2018
Pre-ICO end date: 30.06.2018

ICO

ICO start date: 20.07.2018
ICO end date: 20.08.2018
Hard cap: 4000 ETH

TOKEN DETAILS

Ticker: MB
Token price in USD: 2
Bonus Program:

75% 25.04.2018 – 30.06.2018

Legal


ICO Platform: No
Registration Country: Estonia