A CryptoStandard Score of 5.6 and a Negative+ outlook are assigned to MeetnGreetMe. (ICO starts on 27th March 2018).
MeetnGreetMe aims to integrate blockchain technology into personalised travelling in order to disintermediate the travel agencies and other middlemen, and achieve lower costs for travellers. Although MeetnGreetMe is a platform that has already been operating for about 2 years, our team could not identify sufficient competitive edges for the company to differentiate itself and succeed in the crowded market.
MeetnGreetMe is an operating platform that engages local people to provide personal assistance and concierge services for international travellers.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
The idea lacks innovativeness as the same or similar ideas have been developed and executed by numerous companies already. Our team believes it is beneficial to add a blockchain element to the platform, but the company’s scalability may be limited by the intense competition in the market.
Competitiveness
There are tens of direct blockchain and non-blockchain competitors in the market providing personalised tours, including travel agencies that offer similar customised services and introduce local individuals as tour guides as well. Our team believes there are not enough advantages for MeetnGreetMe to outperform existing players, let alone the real threat from substitutes such as Tripadvisor, Google Trips and traditional travel agencies, as well as the considerable threat of new entrants given the relatively low entry barrier.
ICO
Most details of the ICO are published, but our team is concerned with the fact that unsold tokens will not be destroyed but held by the company for later distribution, as well as the unclear treatment of tokens that will be bought back by the company.
Team
The team, especially the founders, is reachable in the Telegram group and promptly responds to messages. However, it is brought to our notice that the team generally lacks blockchain experience, which may lead to difficulty in carrying out blockchain-related strategies and development.
Community
Direct communication channels are available for investors to reach the team, and founders are responsive to questions raised by investors in the Telegram group. Even though the feedback from the community is mostly positive, our team considers the size of the community relatively small, which may be a result of inadequate community reachout efforts.
Marketing
MeetnGreetMe is present on all the main social media platforms, including YouTube, Steemit, Medium, and Reddit. The administrators also respond to investors quickly on Bitcointalk and Reddit. One of the founders was interviewed by two small presses, and the website is available in eight languages. All these might boost its reach to end users and potential investors, but given the limited size of community currently, a lot more has to be done to leverage these platforms.
Documentation
MeetnGreetMe has provided the white paper in multiple languages, with the information on its website and white paper largely consistent with each other. However, it fails to address well the risks inherent in its business model.
Financials
Although MeetnGreetMe is a company currently in operation, there are no past financials available. The team would prefer to understand more about how the company has been operating and how the addition of blockchain technology will impact its future financial performance.
Reliability
The details of their roadmap are satisfactory. However, although MeetnGreetMe currently has a working platform, it is operating without the use of blockchain. There is also no data regarding its current user base. These potentially undermine its reliability.
Feasibility
Our team remains skeptical on the project’s feasibility given the intense competition in the market. We also cast doubts on the incremental benefits blockchain is going to bring to the company, as well as whether the team has sufficient resources to execute the project with a relatively low hard cap.
See their profile: https://cryptostandard.io/ico/meetngreetme/
@MeetnGreetMe
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