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Tekycorp Basic Review

Name: TEKY    

Ticker symbol: TKC    

Project type: E-commerce. Education & E-learning.

Extended company description: TEKY is an e-commerce platform for the sale of smart toys and smart technology courses.

Company: TEKY Holdings Limited

Website 

Whitepaper

 

Public ICO launch: 15.12.2017
Public ICO end date: 14.01.2018
Crowdsale duration (weeks): 4,3
Token type: ERC20
Token supply: 280 000 000
Tokens available for purchase (Pre-Sale + Public ICO): 154 448 000
The purpose of attracting investments: 
Raised funds will be used to expand the ecosystem over the next five years (from the beginning of 2018 to the end of 2022) and reach the target of 10 million customers. US$3 million: creation, development and support of the MEK platform and MEK infrastructure for a decentralized blockchain-based model.

  • $1 million: marketing costs for pre-ICO and ICO.
  • $16 million: expenses for business development and marketing.
  • $4 million: staff costs for MEK and TEKY for customers.
  • $1m: administrative, office and other expenses.

1 TKC price: 0.161 USD
Accepted payments: BTC, ETH, LTC, USDT
Bounty: Start date: November 8, 2017.
Token role: Functional


 

Team (number of people): 14
Advisors and partners (number of people): 8
GitHub


 

Twitter: Posting: 12, Subscribers: 206
Telegram: Subscribers: 121
Linkedin: Subscribers: 27
Facebook: Subscribers: 11002 (https://www.facebook.com/tekyicovietnam/), 220 (https://www.facebook.com/Tekyico/)
Youtube: Postings: 2, Subscribers: 6


 

TEKY – an e-commerce platform for the sale of smart toys and smart technology courses. [2]

TEKY will provide the following services:

  • A shop for electronics, audio systems, smart technology, gadgets and smart toys, engineering parts, accessories, etc.
  • Delivery of products.
  • The possibility of payment in both cryptocurrency and fiat. [2]
  • The ability to track an order from your account.
  • The possibility of passing training courses in the field of programming and development of applications, robotics and technology, 3D technology and multimedia.
  • A summer camp.

Partners:

Advisors:

  • Nguyen Hoa Binh - advisor on Globalization Strategy. Managing general partner in NexTTech incubator and investment fund (about 11 years), co-founder, head of media, Spokesman for the Vietnam e-Commerce Association (about 12 years), founder and chairman of Peacesoft (about 17 years);
  • Tien-Anh N. - advisor on venture capital. Vice President for Finance at UserTesting (2 years), Director of Market Analysis at OpenView Venture Partners (2.5 years), Board Member at Balihoo (3.5 years);
  • Sean Colopy - cyptocurrency advisor. Co-founder of Pro Capital Exchange (2 months), co-founder of National Transplant Awareness (8.5 years);
  • Ashton Addison - communication advisor. CEO and founder of EventChain.io (about a year), advisor to Pundi X (2 months), chief marketing strategist at SmartMesh Foundation (3 months);
  • Brenn Hill - technical advisor. Advisor to Coinlancer (2 months), Principal in BlockSimple (4 months), AEM Architect, Lead Development Specialist at Omnigon Communications LLC (4.5 years), co-founder of Peerity.io (about a year);
  • Vadim Budaev - mass market advisor. Co-founder of scorch.ai, AdHive.tv;
  • Boris O - advisor for the ICO. Blockchain Consultant to the Districts (2 months), technical blockchain consultant to Coinlancer (2 months), consultant Blockchain (11 months), marketing manager / IT analyst at AH-Web (1 year);
  • Ngo Hoang Dong - Tokensale advisor. Manager of Southern branch of MoneyGram International (4.5 years), founder of PHUONG DONG ONLINE TRANSACTIONS (10.5 years), co-founder of PICOM (7 months).

Investments attracted: N/A

 

The Teky project is staffed by experienced specialists and advisors. We believe that the project can attract the attention of the blockchain community due to its understandable business model and well-prepared documentation.

Strengths of the project:

  • a strong team of advisors and partners.
  • a broad target market for project development.
  • the project has a demo Mek.store and a working Teky Academy project.
  • the project has a sufficiently detailed roadmap and a detailed development plan.
  • the project documentation gives a comprehensive view of the project’s status.

Weaknesses of the project:

  • Some of the advisors participate in several ICOs.

 

  • It is expected that annual sales of smart toys worldwide will grow from ~ $2.8 billion in 2015 to $11.3 billion by 2020, according to Juniper Research. This increase will be 80.7% per year.  [30] [31]
  • A Technavio marketing analyst predicts that the global e-learning market will grow with an impressive CAGR of 18%.

According to the white paper:

  • CCS Insight Research showed that the headphone market for VR is estimated to increase by 800% between 2017 and 2021, reaching 22 million units. In China VR market revenue is estimated to reach $3.6 billion in the next 5 years.
  • According to Time.com and Statista.com, the market value of gadgets in 2017 will reach $642 billion and toy market will reach 4.98 billion euros in 2016.
  • According to Toyassociation.com, the Asia-Pacific region has become the leading toy market of STEM with an income of $1.0 billion; this figure in the US was only $576 million in 2013, with an annual growth rate of 10%.

Comment: The white paper presents a market analysis. In general, there is rapid growth in this segment, therefore it is possible to take the projected share in the market.

 

During our research we identified the following competitors:

Edx - a platform for viewing online courses.

Resume: The main distinctive feature of the TekyCorp platform is the combination of training courses and an online hardware store. The advantage is the use of blockchain technology and smart contracts, but it should be noted that the identified competitors are quite popular and are well-established in the target market. For example, (1) Currys (https://www.similarweb.com/website/currys.co.uk) and (2) Coursera (https://www.similarweb.com/website/coursera.org).

 

TEKY Makerspace runs on the MEK.store e-commerce platform. The MEK platform uses blockchain technology based on smart contracts.

ERP is implemented on the server system.

The website, CMS and mobile application are built on primary and backup server clusters. [2]

The database server consists of a primary server cluster and a backup server cluster that synchronize data with each other.

 

Technology description

The MEK.store platform is based on an ERP system which deals with product catalogs, customer relationships (data, orders, transaction history, etc.), procurement management, warehouses, finance, marketing and payment.

A CMS system is responsible for editing and administering images. [2]

The website includes:

  1. account management, personal data, etc.
  2. information about the product, terms of delivery, etc. The mobile application has the same functionality as the website adapted for smartphones.

An integration system enables interaction with partners.

Comments: The unique selling point is the combination of educational services and sales of smart technology products.

 

Technological Roadmap

In the future, with the development of technology and data capacity, it is planned to implement the following:

  • Q4 2017 - Continued development of the e-commerce platform, courses and distribution channels via the Academy ecosystem.
  • Q1 2018 - Launch of official website, possibility of payment in tokens and other international payment methods;
  • Q2 2018 - Launch of mobile application;
  • Q3 2018 - Development of the e-learning platform, formation of an ecosystem for online consumers;
  • Q1 2019 - Acceptance of payment by other crypto currencies (BTC, ETH, LTC, USDT);
  • Q4 2019 - Possibility for payment in fiat.

Comment: A step-by-step development of the product is presented in the roadmap. There is a demo version of the MEK store available.

There is 1 open module for smart contracts in the open repository.

Screenshot of repository

Comment: The details of the smart contract can be seen in the open repository.

 

We have analyzed the website and the documentation for sufficiency and consistency  for making an investment decision.

The documentation comprises the white paper, which is presented in English and Vietnamese. In the submitted documentation, TEKY is described in sufficient detail. All documentation is well prepared.

The website also provides information about the project, staging a public ICO and the team. The website is presented in English and Vietnamese. Additional advantage of the website is an accessible link to the registration in Whitelist. [1]

Resume: The documentation enables a comprehensive view of the project.

 

Public ICO launch: December 15, 2017
Maximum amount: 25 000 000 USD
Tokens to be released,% 59%
Token type: ERC-20
Accepted as payment: BTC, ETH, LTC, USDT
1 TKC cost: 0.161 USD
Crowdsale period: 4 weeks, until January 14, 2018
TKC, a utility token, can be used to purchase any product on the MEK.store and for training at the TEKY Academy.
Token issue limit: 280 000 000
Maximum planning amount of profit: 25 000 000 USD
Minimum planning amount of profit: N/A
Tokensale is implemented in the following stages:

Comment: After the end of the ICO, TEKY will immediately be listed on crypto exchanges, such as EtherDelta, Liqui, Mercatox, Tidex, COSS, Novaexchange, C-CEX; the team is also discussing the listing of TKC on top exchanges such as Poloniex and Bittrex; Investors will be able to sell tokens in the market in order to receive immediate profits. [2]

 

Link to Bounty: https://ico.tekycorp.com/instant-bounty/

Scheme of interest distribution by program: 

The project has reserved 2.5% of the total number of tokens for bounty (7,000,000 TKC.) The program is open in the following areas:

Twitter reposts - 15% - 1,050,000 TKC Facebook reposts - 15% - 1,050,000 TKC Blog articles - 20% - 1,400,000 TKC

Helping with media publications - 20% - 1,400,000 TKC BTT campaign - 30% - 2,100,000 TKC

There is also a referral program for recommending to a friend: You will immediately receive 5% of tokens from your friend’s total purchase.

Resume: The project has an extensive bounty program. All conditions of the program are detailed at the bounty link. Registration for the program is in the same place; rewards will be distributed at the end of the ICO.

 

Tokens and capital are distributed according to the following scheme:

Resume:  Tokens do not affect the distribution of shares in the company. The incentive system is set up in such way that it is more profitable to buy tokens at an early stage.

 

 [1]

According to the white paper:

  • Q2 2018 - Entering the markets of the US and Russia.
  • Q1 2019 - India and South-East Asia.
  • Q2 2019 - Indonesia and the Philippines.
  • Q3 2019 - Korea, Japan, North America and Europe.
  • Q4 2019 – expansion of the ecosystem throughout Southeast Asia.

Marketing strategy: use of adwords, social advertising (bonuses, discounts, promotion, etc.), e-mailing, SEO and affiliate programs, banner advertising, digital marketing, cold calls, various events etc. [2]

Comment: As we can see from the above, Mek.store is projected to provide about $1B of annual turnover in 2022, but the Teky Academy will bring only $50M. We believe that in this case it would be more profitable to cancel the development of Teky Academy (marginality - 25%) and concentrate on Mek.store (average margin - from 30%). [2]

Resume: The white paper describes the marketing campaign and development plans. A set of carefully selected tools can assist the company’s popularity in the market.

 

The team consists of 14 people and 8 advisors. Information about the main team members based on LinkedIn is given below:

Emme Dao - Group CEO and Founder. Deputy Chairman of the Board and co-founder of Nexttech Group of Technopreneurs, Founder & CEO at WeShop Group Holdings, Founder & CEO at PeaceTech e- commerce. Previously, CEO at Vimo P2P Mobile payment company, Co-founder & marketing director at NganLuong Online Payment JSC.

Jack Yang - Technical Director and Co-Founder. Founder of Gadget Technology Company, Technical Director at OFFICE 247 TSP CO., LTD. Experienced technical specialist and leader (Co-Founder and CEO at Retech Technology Joint Stock Company, head of R & D department at Vingroup, technical director at Peacesoft).

Kata JM - Head of the Academy and Co-Founder. Founded and managed Focus (IT & E-commerce) for 4 years since 2008. Worked in design and development of user interface (UI, UX), supervisedtechnical teams in such companies as Intelligent Software Company, Peacesoft, Nexttech Group of Technopreneurs.

Lee Mint - Head of Retail and Co- Founder. Co-Founder and CEO at Zim Academy, Founder of GBM, PITADO, Vifonic; Experience in e-commerce, business management and marketing for more than 5 years.

The team has 10 more people.

Comment: The entire team indicates its ownership of the project.

Resume: Key employees are engaged in other projects; Etherparty commenced development in 2015. According to Linkedin, only Lisa Chen has indicated herself as an employee of the Etherparty project. Kevin Hobbs considers the project part of the Vanbex Group. Brian Onn points out that he is an independent consultant engineer.

 

Project information is available on Twitter, Facebook, Telegram, BitcoinTalk, Slack and YouTube. The team communicates with users on social media and the forum. There is a Bounty program which will begin on November 8.

The project is working on social media. The team answers users’ questions on Telegram. Twitter and Facebook update news. The format of the articles about the project shows that they were written mainly for the project's order.

Comment: Interest in the project is still relatively low. The basic marketing campaign is being conducted on Twitter and Facebook. [1]

Website traffic analysis based on Similarweb.com data showed the following [6]:

Comment: 56.4% of traffic arrives by direct link, 34.08% via referral links, 9.53% via social media.

Referral links: 34.08%

Comment:  There are no data on SimilarWeb. According to Alexa.com, attendance for the website is 1,860 users. The number of views is 7,440 per month. The majority of visitors are from Vietnam. [29]

Resume:  According to the available data, it can be concluded that the team has just started its advertising campaign, so the popularity of the project is still low. Teky Corp conducts an advertising campaign on social media (Facebook, Twitter), communicates with users on Telegram. There is support from the press (400+ news site and top 10 cryptoworld media).

 

The developers may be contacted using the links below:

Website
Twitter
Telegram
Slack
Reddit
Linkedin
Facebook
Github
Bitcointalk
Youtube


 

 

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.