Districts Basic Review
|Start ICO||31 Oct 2017|
|End ICO||30 Jan 2018|
Ticker symbol: 3DC
Extended company description: Districts is a decentralized business and entertainment 3D platform with VR support.
Company: Blockchain Technology LLC
White paper: https://www.districts.io/DOWNLOAD/PDF/whitepaper.pdf
Public ICO start date: 01.11.2017
Public ICO end date: 30.11.2017
Tokensale duration (weeks): 4.1
Token emission: 200,000,000
Tokens available (Pre-Sale + Public ICO): 150,000,000
- Platform development
- Purchase of necessary equipment
- Launch of an advertising and marketing campaign
- Payments for legal and software licenses.
Price of one 3DC: from $0.15 to $0.25
Accepted payment: Bitcoin, Ethereum, Dash, Litecoin.
Bounty: The program started on December 28, 2016 and ran until April 25, 2017 (Round 1). Round 2: October 15, 2017 to November 30, 2017.
Token role: Functional
Team (number of people): 5
Twitter: Postings: 69, Subscribers: 7165
Telegram: Subscribers: 56
Medium: Postings: 4, Subscribers: 36
Slack: Subscribers: 46 Closed (for security reasons)
Reddit: Subscribers: 10
Linkedin: Subscribers: 17
Facebook: Subscribers: 10384
Youtube: Postings: 5
Districts is a 3D World compatible with virtual reality where content is created and controlled by users. Content can be varied: applications for service provision (shops, schools, etc.), houses, exhibition halls, etc.
According to the white paper, the virtual city will be built "like circles on the water," free space can be bought for 3DC.
The project representative also noted 3 main tasks for the project [on Slack]:
- Promotion of cryptocurrency to people with no computer science expertise
- Introducing the combination of VR technology and cryptocurrency;
- Upgrading existing blockchain technology in order to make better uses of it.
Districts will provide the following services:
- 3D world, which is VR compatible;
- wallets (enabling transactions);
- Creation of applications.
- Zachary Fitzner (https://www.linkedin.com/in/zfitzner/) - strategic advisor. Blockchain developer at Gizer Inc. (5 months), Assistant for Computing and Information Services at Vassar College (9 months). Currently studying at university.
- Boris Otonicar (https://www.linkedin.com/in/boris-o-46842231/) - blockchain consultant. Technical consultant for Coinlancer, technical consultant and Indipendent blockchain consultant, Marketing manager / IT analyst for AH-Web (1 year).
- Sergei Logvin (https://www.linkedin.com/in/sergei-logvin-2914bb52/) - blockchain and ICO consultant. Co-Founder and Community Manager for Rocket ICO (3 months), advisor for AdHive.tv, Opporty.Com and MapMess Inc.
- Luca Cotta (https://www.linkedin.com/in/luca-c-0b6678145/) – ICO DRIVER. Community manager at ETHlend (3 months), Expert at ICObench (2 months), founder of Btc4buy.com (2 years, 6 months), senior advisor-freelancer (9 years).
- EPIC GAMES (https://www.epicgames.com/ru) - technical partner. The platform uses its 3D engine, in exchange for 5% of the development funds after loyalty agreement.
Attracted investments: N/A
At the heart of the Districts project is a developer company from the gaming industry with support from ICO consultants and advisors. Blockchain Technology LLC is the company, specialized in researching blockchain solutions.
Strengths of the project:
- The project as a whole is positively accepted by the blockchain industry
Weaknesses of the project:
- Delays in implementing project plans; slippage of the ICO.
- Complicated website, difficult to navigate for the average site visitor
- Blurred focus of the project; the team does not have a clearly focused market segment
- Slack and Telegram communication is weak
- There is no way to test the product
Market and industry
- According to Seed Accelerators, approximately 100 million start-ups are opened each year.
- According to McKinsey & Company and the World Bank there are 130 million small and medium-sized enterprises in developed markets, and 100 million enterprises in developing markets.
- According to Forbes and Cox Business, 31% of small or medium-sized businesses cited changes in technological needs one of the most important challenges for a company.
- According to a KMPG report, in India the share of small businesses in GDP will grow from 8% to 15% by 2020.
- According to International Data Corporation (IDC), worldwide revenue from VR is expected to be $11.4 billion in 2017. IDC predicts that by 2021 it will reach $215 billion, reaching 113.2% of CAGR.
Market analysis is absent in the white paper.
Comments: There is no market analysis in the white paper; while the team claims that they are oriented to the global market and to a very wide audience (small and medium business users). There is a suspicion that there is no clear strategy for entering the market and attracting users.
After communicating with the team, we still could not clearly formulate a market segment for the project. We believe that the team lacks a specific market focus.
During our study, we have identified competitors in the following areas:
- Decentraland (https://decentraland.org/) - a virtual reality platform for blockchain. Users can create, analyze and monetize content and applications.
- Cappasity (https://cappasity.com/) - a platform that allows enterprises to quickly and easily create and implement 3D content on their websites, mobile applications and VR / AR applications.
Summary: Districts, in contrast to its competitors, combines business development opportunities and social media.
Engineering features of the project
Disctricts is a self-regulating platform based on cryptocurrency, which provides opportunity to create custom projects.
The main goal is to demonstrate a product or service using 3D technology and virtual reality.
The platform is built on the basis of Unreal Engine and Blockchain. The designers manufacture and distribute their undertakings for themselves or to different clients utilizing the stage IDE (Integrate Development Environment) which is an apparatus that helps the engineer making 3D applications utilizing the Districts Visual code (Moonia) for the 3D open world ventures.
Comments: The main advantage is the combination of 3D VR technologies and Cryptocurrency.
In a personal communication, the representative said that 3D contract (smart contract from Districts) gives a new dimension to smart contract concept.
Roadmap: In the future, with the development of technology and data capacity, it is planned to implement the following:
- December 2017 - release of final version of the program and wallet.
- Q1 2018 - API exchange - payment (3Dcoin - cryptocurrency that can be spent or exchanged on the market), release of a mobile wallet (available on iOS, Android and Windows Phone).
- Q2 2018 - Alpha release of Districts.
- Q3 2018 - Release of District visual studio.
- Q4 2018 - Release of beta version.
- Q3 2019 - Release of Districts 1.0.0.
Comments: The company has a step-by-step strategy for platform development. The white paper describes the services to be added and their scope. However,  Engineering features of the project development plans are extensive; there is a risk of shortage of resources (money and people).
The following active units are represented in the open repository: There are 28 open repositories.
Comments: There is no activity observed in the repositories
We have analyzed the website and the documentation for sufficiency and consistency for making an investment decision. Investors will buy 3Dcoins (not tokens) directly to their 3DCoin wallets from an online blockchain.
The website also provides information about the project, the staging of a public ICO, the team and the answers to the most frequently asked questions. The website is presented in English, Russian, French, Arabic, German and Japanese.
Summary: The documentation does not allow forming a complete picture of the project. The information is scattered; latest information is available on the blog.
Tokens for sale, % 75%
Public ICO start date: November 01, 2017
Accepted payment: Bitcoin, Ethereum, Dash, Litecoin.
Price of one 3DC: from $0.15 to $0,25
Crowdsale duration: 4 weeks, until November 30, 2017. The 3DC token is the currency of the platform; also serves as an act of ownership and is estimated in square feet in a particular position in in virtual 3D world. According to the white paper, the token protocol was created using the Bitcoin and Dash source code.
Token limitation: 200,000,000
Advantages for token holders: limited tokens, functional tokens, enabling use of the platform’s services.
Max goal: 3DC 150,000,000
Min goal: 3DC 30,000,000
- At minimum cap (30,000,000 3DC) - 40%, before reaching the number of tokens sold in 30,000,000 3DC the price for 1 3DC = $1.5
- At soft cap (100,000,000 3DC) - 20%, before reaching the number of tokens sold in 100,000,000 3DC the price for 1 3DC = $2.0.
Comments: Unsold tokens will be removed from the system. And the developers’ shares will be readjusted.
Bounty link https://www.districts.io/blog/bounty/
Distribution: The project has reserved 1,500,000 3DC for the second bounty round.
The program is open in the following areas:
- Bitcointalk signatures and translations: 20% (300,000 3DC);
- Social Media: 80% (1,200,000 3DC);
- Bounty for creating articles from the first round is still active (125,000 3DC).
Summary: The project already had the first phase of bounty program. The second round of the program takes place from October 15 to November 30, 2017. All terms and conditions of the program are listed at https://bitcointalk.org/index.php?topic=2273984. Bounties will be distributed at the end of the ICO.
Token and capital distribution
Tokens and capital are distributed according to the following scheme:
Token and capital distribution scheme ICO:
- 75% (150 million 3DC max) will be available at the end of the ICO.
- Bounty: 1% (2 million 3DC max) are blocked until January 1, 2018.
- Advisors: 4% (8 million 3DC max) are blocked for 1 year.
- Early investors: 10% (20 million 3DC max) are locked for 1 year.
- Development: 10% (20 million 3DC max) are blocked for 5 years.
Summary: Tokens do not affect the distribution of shares in the company. The incentive system is set up so that it is more profitable to buy tokens earlier.
- Q1 2018 - Expansion (acquisition of resources needed for long-term and continuous development);
Summary: There is no description of the marketing campaign and the strategy of the product market release in the WP or on the website. According to the developers, the expansion will take place worldwide (negotiations in India are currently underway).
The team consists of 6 people and 3 advisors. Information about the main team members based on LinkedIn is given below:
Zine Laabidine Rezig, a.k.a. Zain (https://www.linkedin.com/in/zine-laabidine-rezig-32aa91131/) - CEO & Founder/software architect / lead developer. The founder of Blockchain Technology LLC company operating since 2013, specializing in the integration of blockchain technologies. Programmer and game developer.
Guerziz Aladin (https://www.linkedin.com/in/guerziz-aladin-38b62788/) - project manager. Senior Manager at Blockchain Technology LLC.
Badreddine Slimani (https://www.linkedin.com/in/badreddine-slimani-263a58147/) - 3D Graphic Designer / Web developer. 3D designer and Web developer at Blockchain Technology LLC since February 2017. Previous experience is not specified on LinkedIn.
The team has 2 more people.
Comments: The entire team indicates its ownership of the project. Summary: 7 people indicate their membership of the project on LinkedIn (including advisors). The team is mostly from the UAE. The team also has a creative director and graphic designer.
Project information is available on Twitter, Facebook, Telegram, Medium, YouTube, BitcoinTalk, Instagram, Google+ and Reddit. The team communicates with users on social media and uploads videos to YouTube about the platform’s operation.
There is a second phase of the bounty program.
The project is active on social media. The team answers users' questions on Slack. Twitter and Reddit regularly update news. The format of a few articles about the project shows that they are written mostly to order or by bounty program participants.
Comments: User interest in the project is high. The basic marketing campaign is implemented on Twitter and Facebook.
Analysis of website traffic based on Similarweb.com data showed the following:
Comments: 79.5% of traffic comes by direct link, 19.2% of traffic is via social media.
Search traffic: Search traffic is not available
Referral links: 1,30%
Comments: Since there are no data on website traffic, it is not possible to talk about popularity. The most popular source on social media is LinkedIn.
Summary: According to analysis of the marketing campaign, it can be concluded that users are interested in the project. The team conducts an active advertising campaign on social media (Twitter, Facebook), maintains a blog on Medium, communicates with users on Slack and uploads videos on YouTube. Active discussions are conducted on BitcoinTalk.
The developers may be contacted using the links below:
2. White Paper: https://www.districts.io/DOWNLOAD/PDF/whitepaper.pdf
5. About Bounty https://www.districts.io/blog/bounty/
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative