After a series of posts about ICOs and how to evaluate the potential behind them, I decided to have a go at evaluating an upcoming ICO.

Today I will be looking at Etheera. The reason why I chose them is because they were one of the upcoming ICOs when I was writing this post on ICO Alert.

Etheera – Real Estate for the Blockchain

Overview of Research

Presentation with lots of mistakes, a very young project, they don’t have a product built, don’t really need blockchain for their proposed solution and have an unclear business model.

It seems as if  they would be better off building something and then going via traditional investors if the project shows potential.

Profile of Etheera

  • What: Real Estate for the Blockchain. List properties around the world on the blockchain. No prototype, just ideas at this point. This is what I understood anyway – after going through all their online material I am still unclear on exactly what it is.
  • Why: It has become expensive for real estate companies to list properties in multiple portals.
  • What will the Token be for: Not really sure – maybe for the cost of listing a property?
  • Market: Real Estate
  • Who:
    • Company
      • IZ Immobilien Kriens GmbH is the company behind the project (see cofounder Isa Zeqiraj)
    • Team
      • Comments
        • Most of the team has only been associated with the project less than 4 months.
        • Most of the team has only a few years of professional experience in total

Profile

  • Website 
    • Spelling, Grammar mistakes
    • Some parts with bad formatting
    • Does a poor job of explaining the company, proposition, etc. Too focused on the ICO.
    • Contradictions – some places the ICO starts in January, others in February 2018
  • ICO
    • ICO date start: 10 Feb 2018
    • The price for 1 Etheera (ETA) token is 0.000002 Ethereum.
    • For each transaction during the ICO, you will need to buy a minimum of 75 ETA tokens.
    • The Hardcap is 105,000 Ethers and the Smart Contract will not accept anything above.
    • Due to legal and political reasons, citizens from the US, Canada, China, Singapore, Hong Kong, North Korea and Iran are not allowed to participate in our Etheera ICO.
    • Max valuation 105k ETH ~ €92mi (Feb 2018 valuation)

Evaluation

Good

  • Have a company set up since 2013 (Swiss GmbH)
  • Are working on an interesting problem – listing Real Estate properties around the world.

Bad

  • Does not need blockchain to exist.
  • Appears more to be more of a fundraiser than blockchain product.
  • Not much interest on forums or social media
    • https://www.reddit.com/user/Etheera-ICO/
    • https://bitcointalk.org/index.php?topic=2697943
    • https://twitter.com/search?q=etheera&src=typd
  • Does not have a prototype
  • Does not a have a proven business model or demand – only after the money is raised and project built will this be found out.
  • Are asking for too much money.
  • Most of the team has only been associated with the project less than 4 months.

My view: Pass.

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