Your Bets. Your Rules.
Welcome to today’s ICO Review! Just to give you a little insight on myself: I’ve been reviewing ICOs since early 2017. After getting burned by “gurus” who sold the hype, I decided to research as much as I could about the technology, benefits and weighting factors that determine the success and/or failure of ICOs. I’ve revised my grading metrics so many times, I’m unsure of which version I am currently on. Less than 30% of the ICOs I review score over 80%. I personally would not consider investing in a project unless it scored over 85-90%. Granted, there are some projects that need just a little push to get some momentum going, but those are few and far between.
Now let’s jump into it.
I came across Bethereum on Friday the 13th. I noticed a majority of people in a crypto group I’m in talking about how great of a project it was. Some people loved it and some people hated it, but nobody went into depth about why they feel the way they do. I was curious and decided to do my own research.
There’s already over 70 different completed and in progress ICOs looking to cash-in on the crypto trend with betting platforms (source). Nearly all of them are ERC-20 tokens (and for good reason…it’s easy).
So, what exactly makes this one stand out from the rest? Apparently the social aspect and its smart contracts that are determined by the users is making the crowd go wild. How exactly does it work?
- Users can create a bet or join in an existing one
- They can set the conditions (bet amount, winnings split, and favorite match results)
- Friends are notified and can jump right into a bet
- Users can share their wins (like a Facebook Post) and compete on leader boards and special events.
Bethereum wants to bridge social media and betting to make it one place where people can feel comfortable placing bets…even if they’ve never done it before.
The current beta app is only available on iOS, so I can’t access it as an Android user myself, but if you’re curious about the app and have an iOS device, you can check out the app here. Let us know how it works for you in the comments section below.
I took some time to go through their whitepaper, social following and team experience. You can see the screenshot of my metrics below.
Here’s how they scored:
Tokenomics: 5 out of 6
The only thing that makes me hesitant about this ICO is the fact that there are SO many other projects out there competing in this same space. There really isn’t a need for dozens of tokens aiming to do the same thing (just take a look in the bitcointalk forums and see just how many projects are named as “the best”). Adding a social aspect to a token in a world where social media is dominating everything in the age of influencers could bring in a huge crowd as more and more people start to gravitate towards blockchain tech.
Demo: 1 out of 1
Though I can’t participate in their application demo, I still gave them one point for having it available to iOS users.
Social: 5 out of 6
Across every popular platform, Bethereum has a pretty significant following. We all know that the projects with the most support (both by the people and by money) tend to have the highest chance for success. The only platform that didn’t see much activity was Medium. I couldn’t find an official link for them on that. I verified their twitter account and over 97% were accurate and real followers. I’m still in the process of finding away to verify following on every other platform.
Team & funding: 7.09 out of 10
Their team got a solid 3.09 out of 5. Now the reason they scored this way was because some of the team members either
- Didn’t have Bethereum listed anywhere in their LinkedIn Profiles or
- Didn’t have any LinkedIn information at all
There was a total of 7 team members with these issues. Even with these errors, I was able to verify the rest of the team and they still scored decently. Their pre-sale pricing is about $0.028 (1 ETH = 17 500 BTHR) if my math is right. That’s pretty sexy in my eyes. I couldn’t find any information on whether they were backed by Venture Capitalists or not, so I gave them a 0 for that section.
Overall, Betherem scored a 78.65%. Decent, but not well enough for me to actively participate. If they can fix these issues and continue their social expansion, they may have a chance at being successful. But, until then…I’d be careful not to bet your bottom dollar.
This has been an ICO review by Danny