Devery.io, the product verification company built on blockchain technology, launches its crowdsale today.
When I look at a new coin, I look at a few things:
- Their team
- Their social media
- Their product
- Their coin distribution
Notice I didn't say anything about the whitepaper. To be honest, I don't want to waste my time reading a whitepaper if the above 4 things aren't sound.
If you're so inclined, you can read Devery's whitepaper here.
Team
When I, or anybody else for that matter, looks at the team of a new blockchain company, the last thing I want to see is a one man show trying to do everything.
Don't get me wrong - I love small businesses. And Satoshi allegedly created Bitcoin on his own. But this is a new age, and with massive companies entering the space with literally billions of dollars and centuries of experience, ICOs need to up their game.
Because blockchain tech is so new, you can't really look at a team and be upset at the fact that the team has little to no prior experience in anything to do with blockchain. It literally hasn't been around.
What you CAN look for are a background in software engineering. You also want to look for at least one person on the team who has his hat thrown into the business world. That's where you can look for experience.
Social media
The three social media accounts listed on their website are Reddit, Telegram and Github.
- Telegram - 5,290
- Reddit - 166
- Github - Token sale has 20 commits, the oldest one 14 days ago and the most recent 2 hours ago (at the time of this post). You can also view the details of their crowdsale via the github.
Honestly, their social media could use a little work. Those Reddit numbers are very low. The Telegram numbers look decent.
Apparently they have a Twitter account as well. I'm not sure why it's not listed on their website. They have just over 1000 followers.
Their product
Devery describes itself as, "A blockchain powered, open-source, product verification protocol."
What they do is connect manufacturers with retailers. The retailer chooses a product that they want which generates a code on both ends. When the products arrive, there is a barcode on them that identifies them as the correct product and not a counterfeit.
One interesting thing about this is that manufacturers can identify where their products came from. So if they came from an ethically funded company that pays people a proper wage, you'll know. And you'll also know if it came from a sweatshop in Malaysia.
Their coin distribution
Devery uses a token called EVE, which I assume is a play on Adam and Eve being the first humans. The original humans. Devery marks original goods... clever.
Here are the details of the upcoming EVE token sale:
Token name: EVE
Token base: Ethereum (ERC-20 compliant)
Token supply: 100,000,000
Token sale duration: 18th January, 2018 – 10th February, 2018 (public token sale)
Token sale target: €10,000,000 (hard cap)
Token exchange rate: USD$0.17
Want to get your hands on some Devery? Click here to get some of that sweet, sweet ICO action.