Galactikka Basic Review
|Start ICO||27 Jan 2018|
|End ICO||27 Feb 2018|
Ticker symbol: GALA
Project type: Communication, Platform
Extended company description: Galactikka is a social network with a decentralized advertising platform and a reputation system that automatically monetizes user content, and promotes a blog or community for free.
Company: Serfera LLC
Public ICO start: 29.01.2018
Public ICO end: 26.02.2018
Token sale duration (weeks): 4
Token type: ERC-20
Token emission: 179 660 000
Tokens available (Pre-Sale + Public ICO): 168,866,788
- Scaling of servers
- API and mobile app
- Improvement of the current website functionality
- Development of planned functionality
- Hiring developers
1 GALA price: 1 GALA = $0.4 = 0.001 ETH
Accepted payment: ETH
Token role: Functional.
Team (number of people): 6
Advisors and partners (number of people): 3
Telegram: Subscribers: 167
VK: Subscribers: 5844
Galactikka is a social network with a decentralized advertising platform and a reputation system where everyone can receive a reward for content.
Galactikka.com is a new social network that helps content managers to promote their work for free and easily monetize their ideas; users get high-quality original content and communicate with like-minded people.
The main goal of the project is to provide novice users with the opportunity to show their creativity to more people - and make money with it.
In addition, a community of professionals and amateurs in various creative activities will gradually be formed, as well as a comfortable environment for communication and search for new connections.
Thus, Galactikka will provide the following services:
- Support for authors (blogging, storage of photos and videos, with the ability to preserve anonymity and change design or transfer an audience from other social media).
- Promotion (creation of thematic communities, gaming and bonuses, anonymous support, ability to search for people and communities by interests).
- Marketplace (galaxy surfing, news reading).
Nikita Shilov (LinkedIn) - Blockchain consultant. Operating director and co-founder of Ferr.io, CEO and founder of ICO Rocket, senior product designer at GrowFood.Pro. Previously, specialized in industrial design of products;
Konstantin Valeev (LinkedIn) - Bank advisor. Implementation specialist at Wirecard Processing FZ LLC; previously, specialist at the main technology center at Tinkoff Bank, engineer for the implementation of Compass Plus;
Neil Perry (N/A) - Crypto market advisor.
Coins Expert - Partner for the ICO.
Investment attracted: N/A
At the heart of the project lies a social network. Currently, attention to the project from the blockchain community is at a low level.
Strengths of the project:
- The social network is already functioning successfully.
- The project network has a target audience which regularly visits Galactikka.
Weaknesses of the project:
- There is tough competition in the market chosen by the company, so it will be quite difficult to occupy a niche.
- There is no full English version of the platform, which restricts the audience to the Russian language and could cause difficulties with the scaling of the project.
Market and industry
According to Statista, the advertising revenue from social media is steadily growing; it will amount to $41 billion in 2017 (an increase of 24.5% compared with 2016).
Also, the number of social media users is steadily growing; annual user growth is about 7%, therefore social media will be used by 2.77 billion people by 2019.
As for advertising expenditure on social media, Zenith Optimedia (owned by France Publicis), predicts that expenditure will account for 20% of all online advertising, reaching $50 billion in 2019. At the same time, annual growth rate (CAGR) will be 26%.
[https://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/], [https://finance.yahoo.com/news/social-media-ads-hit-50-billion-2019-zenith-000740056.html], [https://www.statista.com/statistics/256911/global-online-advertising-spending/], [https://www.statista.com/statistics/271406/advertising-revenue-of-social-networks-worldwide/]
According to the team, advertising costs for social media will be about $50 billion by 2019 (see the figure below).
Comments: the social media advertising market is dynamically developing. However, it is worth noting the presence of giants who have already cornered most of it; according to estimates from 2016, Facebook and Twitter together occupy almost three quarters of the advertising market of social media.
The team identifies the following competitors:
Steemit - a social network and platform with content reward.
Nexus - a social network in which the emphasis is on creating quality content moderated by users.
Behance - a platform for demonstrating the work of illustrators, designers and photographers.
We can also add the following:
Golos - a social network that rewards users for creating interesting content;
In addition, VK, Facebook and other social media can be identified as competitors in the field of advertising placement.
Summary: Galactikka provides a wider range of services in comparison with competitors but these social media already have a wide audience (according to Similarweb, users of Steemit equal 19 million, golos - 1.9 million, Facebook - 30.6 billion, vk - 2.9 billion); therefore, it will be quite difficult to compete for a market share. [https://www.similarweb.com/website/golos.io], [https://www.similarweb.com/website/steemit.com], [https://www.similarweb.com/website/facebook.com], [https://www.similarweb.com/website/vk.com]
Engineering features of the platform
Currently, you can register online, receive content awards, find like-minded people, evaluate articles, and upload photos, music and videos.
There is also a mobile version of the website. The company claims that a mobile application will be available in Q4 of 2018.
- Mongo, Redis, Mysql, Solr are used to store information.
- Solidity is used for writing smart contracts.
- The team uses SSL encryption (cryptographic protocol) to encrypt data.
- Postfix is used for sending of messages.
- Zabbix is used as a service status monitoring system.
- The team has used PHP, NodeJs, and Express to write the project back-end;
- Nginx is used as a web and proxy server.
- Application of Big Data technologies.
Comments: The social network is functioning successfully. Separately, we note that to attract more users the project will introduce gamification, which will increase users’ interest. [https://galactikka.com]
In the future, with the development of technology and data it is planned to implement the following:
Q4 2017: Eliminating Critical Bugs.
Q1 2018: Work on API, update technology (PHP 7 / Angular 2 ...), code optimization.
Q2 2018: Transition to AJAX, improvement of the current functionality (LAN, Notifications, Editor ...), finalization of the authors encouragement system, return and completion of the advertising system, the ability of video and music download.
Q3 2018: Addition of full-fledged community functions Spaces + internal rating system for authors, improving the type of posts, adding the possibility of direct promotions of authors, working on mobile applications, adding viral mechanics, improving functionality, code optimization.
Q4 2018: Android and iOS applications, changing LAN protocol.
Q2 2019: Implementation of blockchain technologies into the economic component of the project, launching work on implementing the Marketplace.
Comments: There is a consistent strategy for system improvement. The group of developers is not big enough, but the plans are extensive, hence there is a risk that not all events will be implemented on time. We can already observe a shift in the timing of development plans to 1 quarter ahead.
The following active modules are available in open repository:
- contracts - the module contains information about smart contracts.
The repository belongs to Galactikka. There is no activity observed in the modules; the latest updates were made on September 17.
We have analyzed the website and the documentation of GALACTIKKA for sufficiency and consistency for making an investment decision.
The project information is presented in the white paper in English and Russian. The project is described in sufficient detail in the white paper. The main emphasis is on describing the functioning of the social network and the ICO.
The website also provides information about the project, the staging of a public ICO, system operation, the roadmap, advisors and the team. The website is presented in Russian and English. An additional feature of the website is the presence of instructions for purchase of both tokens and cryptocurrency.
Summary: The documentation enables forming a comprehensive view of the project. The principles of the network are described in sufficient detail.
Tokens for sale: 86%
Public ICO start: January 29, 2018
Token type: ERC-20
Accepted payment: ETH
1 GALA price: 1 GALA = $0.4 = 0.001 ETH
Crowdsale duration: 4 weeks, until 26 February 2018
Tokens will be used to pay for advertising on the network.
Advertising in Galaxy will be available only for tokens. The network itself will have built-in ability to purchase GALA tokens from holders.
Token limitation: 179,660,000
Advantages for token holders: they are functional tokens, allowing users either to sell or to use them for accessing platform services.
Additional token emission: no
Escrow: Negotiations are in progress
Max goal: 165,000 ETH
Min goal: 8,750 ETH
Bonuses: Only available in the Pre-ICO (10%) and Pre-sale (5%) stages.
Comments: GALA will be listed on the exchanges in March 2018.
The % distribution scheme: The bounty program is allocated 3,200,000 GALA.
The referral program is structured as follows:
- 25% of tokens for purchase by invited users
- invited users also receive 25% of tokens bought.
Summary: Only a referral program is available. All details can be found on the website.
Token and capital distribution
Tokens and capital are distributed according to the following scheme:
- 86% - available for purchase.
- 10% - for the team.
- 2% - bonuses for ICO participants.
- 2% - invitation bonuses.
Summary: Tokens do not affect the distribution of shares in the company. The incentive system is set up such way that it is more profitable to buy tokens earlier.
Q1 2018: horizontal scaling, and the beginning of gradual promotion of the project.
Q3 2018: preparation for marketing campaign.
Q1 2019: translation of the website into the main languages, preparation for an international advertising campaign.
Q2 2019: the beginning of international advertising campaign.
Summary: There are plans for a marketing campaign but the details are not disclosed.
The team consists of 6 people and 3 advisors. Information about the main team members based on LinkedIn is given below:
Andrew Vlasov (LinkedIn) - Co-founder of the project, main specialist in product and design development. CEO at Coins.expert, former product specialist at ICO Rocket, the head of UX design group at GrowFood.Pro.
Anton Kotelnikov (Facebook) - Founder and CEO. Founder and CEO at Serfera LLC, co-founder of Coins.expert.
Sergey Korol (N/A) - Developer of the project architecture.
Summary: 2 out of 6 employees indicate their affiliation with Galactikka. We have not been able to analyze the rest of the team.
The team is mostly from Russia. The team also includes the following specialists: technical team (technical director, technical specialist). The rest of the team did not specify personal accounts on social media.
Information about the project is available on various popular services such as Telegram, VK, GitHub and Bitcointalk. The project has a bounty program.
The project is active on social media; the team answers users’ questions on Telegram. Twitter regularly updates project news, VK hosts videos featuring the team and users’ work.
The format of articles about the project shows that they are mostly written to the project’s order or as announcements for the ICO.
Comments: The interest from users is quite high; the marketing campaign is taking place mainly on VK.
Traffic analysis of the GALACTIKKA website based on Similarweb.com data showed the following:
Traffic sources (Similarweb):
Comments: direct: 74.81%, referrals: 20.87%, search: 0.57%, social media: 2.91%.
Traffic through searches: 0.57%, 100% of which is "organic".
Referral links: 20.87%
The top 5 websites: golos.io - 41.48%, coins.expert - 36.70%, galactikka.com - 16.22%, icotime.ru - 3.36%, cryptobounty.ru - 0.56%.
Social activity: YouTube: 86.71%, VKontakte: 10.21%, Facebook: 3.08%.
Traffic analysis of the GALACTIKKA website based on Analysis data showed the following:
Traffic sources: https://a.pr-cy.ru/ico.galactikka.com/ [https://a.pr-cy.ru/ico.galactikka.com/]
Site Evaluation: 0.76
Activity: visitors: 50,156, views: 200,610
Social activity: score: 92, source: VKontakte: 1, Facebook reposts: 91, Google+: 0
Summary: Based on the available data, we can conclude that in general, users have great interest in Galactikka. The average attendance on the Galactikka website is 450,000. The team is conducting an active advertising campaign on VK and communicates with users via Telegram. However, we note that since October this year, the number of visitors has decreased by 170,000. (Similarweb)
The developers may be contacted using the links below: