Name: iBuildApp Network
Ticker symbol: IBA
Project type: Blockchain platform and marketplace.
Extended company description: iBuildApp Network is a platform for mobile advertising on blockchain.
Company: iBuildApp Network, Inc
Public ICO launch: 19.10.2017
Public ICO end date: 19.12.2017
Crowdsale duration (weeks): 8,7
Token type: ERC-20
Token supply: 100 000 000
Tokens available for purchase (Pre-Sale + Public ICO):
The purpose of attracting investments: With investments collected, the project plans to develop the platform (65%) and also budget for marketing and advertising (12%), legal services (5%), operating expenses (18%).
1 IBA price: 0.00344828 ETH
Accepted payments: ETH, BTC
Bounty: Program ran from August 25, 2017 until November 1, 2017. The program was open in 5 directions: Social media, Bitcointalk forum, blogs, content translations, and themed meetings.
Token role: Utility (after examining documents, we conclude that the project produces functional tokens)
Team (number of people): 10
Advisors and partners (number of people): 5
Twitter: Posting: 1952, Subscribers: 3544
Telegram: Subscribers: 339
Medium: Posting: 15, Subscribers: 39 (English, Russian)
Reddit: Posting: 3, Subscribers: 0
Linkedin: Posting: 6, Subscribers: 169
Facebook: Subscribers: 28390
The iBuildApp Network plans to create a blockchain platform and marketplace for mobile advertising.
The iBuildApp network is a network consisting of the following modules:
- iBuildApp Market – a store selling content (audio-video, blogs/publications) widgets, plug-ins, etc. Settlements will be made in IBA tokens and built on blockchain technology using smart contracts.
- iBuildApp adNetwork, a decentralized platform connecting mobile application users and companies (users can agree or opt out of advertisers; mailings and receive tokens for ads viewed).
- iBuildApp, (https://ibuildapp.com/about-us/) - technological and infrastructure partner. The iBuildApp online service provides users with the ability to create, test, track, and update mobile applications for mobile devices such as iPhone/Android and iPad. In the market since 2011. IBuildApp and iBuildApp Network have the same founder.
Rafael Sultanov (https://www.linkedin.com/in/rafaelsoultanov) - founder of iBuildApp, consultant for mobile technology.
Vlad Pigin (https://www.linkedin.com/in/vladpigin/) - representative of Microsoft Venture Fund.
Christina Gagnier (https://www.linkedin.com/in/gagnier) - partner at Gagnier Margossian LLP (Legal practitioner specializing in digital strategy, intellectual property, government and corporate affairs.)
Konstantin Gladych (https://www.linkedin.com/in/gladkos/) - CEO of Changelly, an instant cryptocurrency exchange service.
Alexi Lane (https://www.linkedin.com/in/alexilane/) - CEO of Everex, a p2p blockchain-platform.
The iBuildApp Network is said to be an independent project from the iBuildApp company, the purpose of which is to bring together 45 million users registered on the iBuildApp mobile platform through decentralized Ethereum network-related applications.
Based on the results of our research, we recommend that potential investors should wait to buy iBuildApp Network ICO tokens.
The iBuildApp Network project is based on blockchain technology and has representatives from the blockchain community among its advisors.
Strengths of the project:
- The project has the ability to work with Ibuildapp Network customers.
- The projects advisors include representatives of the blockchain community.
- The project’s type of service is in demand in the market.
Weaknesses of the project:
- We consider the presented project strategy to be risky (details in relevant sections).
The market for mobile advertising is estimated at US$69,781 million and it is expected to reach US$243 703 million by the year 2022 with CAGR at 15.8%.
According to the project, the mobile internet advertising market grew by 48% in 2016 and will reach US$215B by the year 2021, accounting for 72% of total investment in online advertising.
Comment: The project operates in the growing market for mobile advertising. The figures given by the project correlate with data from studies conducted by alliedmarketresearch.com.
A project representative determined three competitors for the iBuildApp Network project:
- BAT [Basic Attention Token] (https://basicattentiontoken.org/) — a promotional site, and a token on Ethereum blockchain. Attracted investments: US$30 million. [https://forklog.com/komanda-proekta- brave-sobrala- 35-mln- menee-chem- za-30- sekund/]
- Metax [Adchain] (https://adchain.com/) — a platform built on Ethereum which combats fraud in digital advertising. Attracted investments; US$10 million. [http://www.blockchaindailynews.com/MetaX-Completes- 10-Million- adToken-ADT- Sale_a25622.html]
- AdEx (https://www.adex.network/) - a blockchain advertising exchange.
These competitors also confirmed in an article on the project’s blog. [https://blog.ibuildapp.io/heres-how- blockchain-can- solve-ad- fraud-cd84b37aa8f8].
Leading players in the mobile advertising industry are Applovin Corporation, Avazu Inc., Chartboost Inc., Facebook Inc., Flurry Inc., Google Inc., Inmobi Pte. Ltd., Matomy Media Group Ltd., Millennial Media Inc. and Smaato Inc. [https://www.alliedmarketresearch.com/mobile-advertising- market].
Resume: The iBuildApp Network enters a highly competitive market for mobile ads, that involves large brands like Google, Facebook and Apple. However, there are a number of developing sites that use blockchain as their basis.
The project is based on blockchain technology (instructions for blockchain transactions.) The iBuildApp Network provides an interface for blockchain on Ethereum.
The iBuildApp Network uses blockchain to address the complexities of existing advertising campaigns, which enables significant return of advertising costs (ROAS). The iBuildApp Network links four basic customer types on its ecosystem: Developers, advertisers, publishers, and users. If the iBuildApp Market enables anyone to create and sell content, the iBuildApp Adnetwork will improve mobile advertising by providing
a clear and secure way to monetize the content of your mobile app.
Used technologies (libraries, algorithms)
APL: Java, Java Script, Objective-C
Comment: The project’s technical documentation provides a description of how the platform functions.
In future with development of technology and data capacity it is planned to implement the following:
Comment: During development, iBuildApp will focus on the market for mobile advertising. This is confirmed by Raphael Sultanov.
[https://www.youtube.com/watch?time_continue=1089&v=QLu dHmKPS0I] (iBuildApp). Submitted plans are consistent with the teams statements.
Summary: To simplify smart contract use, the creation of contract templates and notifications will be obvious plus points. The project has a roadmap and a technical description of the project.
We analyzed the iBuildApp Network site and documentation for sufficiency and consistency for making an investment decision.
The documentation includes the white paper as well as terms and conditions. The white paper is available in English and Russian; other documents are in English only. The Ibuildapp Network is described in detail in these documents. Market analytics for mobile ads have been disclosed; the roadmap contains plans for market development. There are no links to the sources of the analytical and statistical data provided in the documentation.
The website also provides information on the project and its plans, the public ICO, the bonus program, the team and its partners. An additional benefit of the site is that there are links to the working iBuildApp application design platform.
Resume: The documentation provides insight into the project. The team answers questions via Telegram.
Public ICO launch: October 19, 2017
Tokens to be released, % 50%
Token type: ERC-20
Accepted as payment: ETH, BTC
1 IBA cost: 0.00344828 ETH
Crowdsale period: 8.7 weeks, until December 19, 2017
iBuildApp Network will release IBA tokens. A token is used as a payment method within the platform (however, the project states that the token has a utility function.) IBA tokens will provide access to all iBuildApp Network services.
Based on IBA tokens, smart contracts that are secured by Etherium will be created.
Token issue limit: 100 000 000
IBA tokens will be used:
- To pay royalties e.g. per-user payment per day/week/month, and so on; payment for the use of services, payments for the server throughput; payment for CPU time.
- For the purchase and sale of content generated by developers (anything from mobile applications to audio/video materials.)
- In the execution of smart contracts between advertiser and distributor (a company that has mobile applications and audiences.)
- To pay for services (project platform and distributor applications) or may be earned by viewing ads.
Maximum planning amount of profit: n/a
Minimum planning amount of profit: n/a
According to the project team, the IBA token is a utility payment method used for settlements in the iBuildApp network. We think this is an inaccurate interpretation of the tokens role in the platform.
Comment: The price of IBA tokens is independent of the price of Bitcoin or Etherium. The cost of tokens depends on the number of transactions within the network and the level of demand for the platform.
Scheme of interest distribution by program:
- 60,000 tokens allocated to the Social Media Bounty campaign.
- 50,000 tokens allocated to the translation of content and documents.
- 40,000 tokens will be allocated to Bitcointalk Signatures.
- 40,000 tokens will be allocated to Blogging Bounty.
- 25,000 tokens will be allocated to the meetings dedicated to the iBuildApp Network platform.
- 35,000 tokens will be used for other purposes.
Tokens and capital distribution
Tokens and capital distribution scheme:
- 50% of total token deliveries (50 million) is available at the time of sale.
- 30% is reserved for the project budget.
- 10% reserved for the team.
- 10% is reserved for bounty.
- Strategy 1 refers to the development of the platform and not to the development of the project;
- Strategy 2, in our view, can be implemented, including through the availability of relevant research and market confirmation from the analytical and consulting companies;
- Strategy 3, in our view, the project will not be able to sign contracts with large customers immediately after the launch of the platform, because it requires a reputation and related connections.
Resume: In our view, Strategy 2 is the most realistic one presented, as it has documented confirmation from a variety of sources.
The team consists of 10 people, as well as 3 advisors. Information on the principal participants of the project team (LinkedIn):
Mikhail Starkov (https://www.linkedin.com/in/mike-starkov- 55018a1/) — CEO
Olga Starkova (https://www.linkedin.com/in/olga-starkova- 1a5168147/) - Executive Director
Sergei Lobanov (https://www.linkedin.com/in/сергей-лобанов- 887045149/) — Project architect
Natalia Zakharova — Marketing consultant
Information on other project participants based on Linkedin:
Jaroslav Timancev (N/A) — Technical support specialist.
Alexander Bykov (https://www.linkedin.com/in/alexander-bykov- 2850a7149/) — Technical support specialist. Employee of the third-party company iBuildApp;
Alexei Skutin (https://www.linkedin.com/in/alexey-skutin- ph-d- 6b25356/) — IT evangelist. According to Linkedin, he is currently the senior software architect (AnchorFree) and the iBuildApp Network advisor.
Emile Sultanov (https://www.linkedin.com/in/emil-soultanov- 84a345145/) is a technical support specialist.
Anna Bodrova (https://www.linkedin.com/in/%D0%B0%D0%BD%D0%BD%D0%B0%D0%B1%D0%BE%D0%B4%D1%80%D0%BE%D0%B2%D0%B0-7a1044149/) — Web developer.
Alexander Plekhanov (https://www.linkedin.com/in/alexander-plekhanov- 202a17145/) — Web Developer.
Resume: On Linkedin, 21 employees have indicated their involvement with the iBuildApp Network. However, this includes employees
who work for both iBuildApp and iBuildApp Network.
The project shows low activity on social networks other than Facebook and Twitter. The team is actively answering questions on Telegram, however. On Twitter and Facebook, their news feed is updated regularly. The articles are small and their format indicates that they were ordered by the project or they are a notification about another project going to ICO. An interview given by advisor and founder, Raphael Sultanov, with an online investor community iTuber is being actively shared (https://www.youtube.com/channel/UCJKdqXWogKscCEr8G5y_Y3g).
Comment: Some informative videos about the project are being added on YouTube: (https://www.youtube.com/channel/UCyvQ0aDIwnzfy_pUlv9OnZg).
Analysis of the iBuildApp Network site’s traffic based on Similarweb.com data showed
Comment: 37% of traffic comes via direct link to the site, and 28.5% comes via social media (98% comes from Facebook).
Traffic through search:
According to SimilarWeb, 3.67% of search traffic is 75% "organic". This indicates that there is advertising on search engines.
Resume: Based on our analysis of the projects marketing activity, it is possible to conclude that the iBuildApp Network has full- spectrum media activity; work with the media and the blockchain community is under way. The project is also participating in blockchain activities such as Blockcon 2017 in Santa Monica and Techcrunch Disrupt in San Francisco.
The developers may be contacted using the links below.
1. Website: https://ibuildapp.io/ru/
2. White paper: https://ibuildapp.io/file/Whitepaper.pdf
4. Terms and conditions: https://ibuildapp.io/file/terms_conditions.pdf
5. About Bounty: https://ibuildapp.io/ru/bounty.html
6. Similarweb: https://www.similarweb.com/website/ibuildapp.io
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 communica- tion.
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 analy- sis more comprehensive and informative.