STRYKZ Rating Review

Risky+

Investment Rating

Expire date : 27.10.2018


Based on the analysis performed, and issues identified, we have assigned the STRYKZ project a “Risky +” rating.

The project has the following strengths:

  • A significant and fast-growing market (fantasy sport)
  • Has its own fantasy sports platform, Football-Stars
  • Strong partnerships with Germany's biggest football website “Kicker” and DFL Deutsche Fußball-Liga

However, there are still some risks linked with this ICO:

Absence of an MVP. At the time of analysis (June 2018), the team has not yet released an MVP/alpha. The absence of an MVP seriously compromises the ability to assess the team’s competencies, the capabilities of the suggested product, the level/degree of product development, and other crucial factors that investors in an ICO must consider before making any decision to invest. Once the MVP/alpha is released, and the team’s progress is made clearer, the level of risk may go down. However, according to the representative from the team, blockchain features will be added to the existing Football-Stars platform as part of the normal update process. Also, STRYKZ tokens will be integrated into the Football-Stars platform after a public sale as described in the roadmap (in testing at the moment).

Team composition and competence. There are no developers and blockchain experts, except for technical advisors, on the team roster. The team is presented with the management team members (CEO, CMO and CFO). The absence of developers on the team, and inability to assess their competence, can significantly increase the risk for potential investors. The team has informed us that the development of the currently active Football-Stars platform is conducted by the external Starloop Studios team (it is stated in the whitepaper that the company has a third party agreement), which includes about 10 developers of dedicated team members.

However, only 4 (out of 15) advisors have mentioned on their official LinkedIn profiles their affiliation with the STRYKZ project.

Incomprehensive technical description of the project. In the whitepaper, or on the website, there is no technical description of the blockchain integration details to the Football-stars platform, and the platform fees are not specified. The above issues and the absence of the MVP, as of June 2018, make the assessment of the product’s services, or the platform, almost impossible, and significantly increase the level of risk for potential investors.

Incomprehensive whitepaper. We believe that the whitepaper has the following issues:

  • Absence of competitor analysis
  • Unclear token and project economics (e.g. fees are not specified, integration details to the platform are not clear, etc.)
  • Insufficient technical description of the project

Given that there is no actual MVP yet, all of the above significantly increase risks for investors.

Incomprehensive roadmap. At the time of writing (June 2018), no MVP (i.e. actual blockchain) is available. Moreover, the project’s roadmap does not show the release date of the MVP and mainnet. It is also unclear when and how the blockchain will be integrated to the existing Football-Stars platform. Besides, the absence of an MVP before launching an ICO increases the risk for potential investors.

Token price decrease. Considering that bonuses for private sale, which varies from 25% to 30%, and for presale – from 10% to 15%, the token price might face significant pressure. However, the team does not disclose the amount of funds raised during the private and presale rounds, so the amount of tokens sold with a discount is unclear.

The team has also launched a bounty campaign with 5 different bounties. As it is stated on Bitcointalk, 2% of all tokens for sale will be allocated for bounty. Given that the hardcap is USD 20 million, it accounts for USD 400,000 worth of tokens. It should be noted that it may have a slight negative impact on the short-term / mid-term token price.

Commercial risks. The competition is very tough in the industry. Given that most of the competitors are based in the US, and US citizens are not allowed to participate in the ICO, the team lacks an opportunity to distribute tokens amongst the primary audience. While STRYKZ aims to expand the platform not only in the US and the EU, but also in Russia and Asian markets, that might increase the number of active platform users.

Project’s public GitHub is not active enough. Although the company has a public account on GitHub, there is no repositories except for the smart contract as of the date of analysis (June 2018), so it is impossible to conclude the degree/level of development of the new features and functionalities of the platform. However, according to the representative from the team, the code is being developed on one team member’s GitHub profile and will be transferred to Stryking’s account shortly.

Based on our analysis and taking into consideration all the risks associated with the STRYKZ project, as of June 2018, we have assigned STRYKZ a “Risky +” rating. We would like to note that, once the major issues are resolved by the team (i.e. release of MVP (beta of blockchain platform, technical description of the project; etc.)), the project rating will need to be reassessed as the risks linked to it may change.

Stryking operates the Football-Stars platform and aims to introduce new instruments to the platform by which users can get access to new features and functionalities, such as user-generated Challenges, early access to new features, entrance to the VIP club, availability to exclusive content, etc.

Website

Whitepaper

Twitter

Telegram

Medium

LinkedIn

Reddit

Facebook

Youtube

Bitkointalk

GitHub

Strykz has the legal entity, Stryking Entertainment GmbH, which is a German limited liability company, that was founded in 2012 (1).

 

Presale

ICO (public sale)

Start date

June 27, 2018

June 29, 2018

End date

June 29, 2018

July 29, 2018

Stage cap

-

Token

STZ (ERC-20)

Token supply (for sale/total)

134 000 000 STRYKZ / 335 000 000 STRYKZ

Soft cap

USD 4 million

Hard cap

USD 20 million

Estimated market value1

USD 50 million

Token price

STRYKZ = 0.0001 ETH (0.054 USD2)

Bonus

25% to 30%, 10% to 15%

-

Lock-ups

6 months

-

Minimum investment

100 STRYKZ

Maximum investment

-

Currencies accepted

ETH, FIAT

Restricted list

No data

KYC procedures

Yes (2)

Country of legislation

Germany

1 Value of 100% of the tokens as of May 17, 2018, based on ETH price only.

2 As of the 21st of June, 2018

The company has a public account on GitHub, and there is a smart contract code for token creation published. However, there are no repositories except for the smart contract as of the date of analysis (June 2018), so it is impossible to conclude the degree/level of development of the new features and functionalities of the platform. According to the representative from the team, the code is being developed on the team member’s GitHub profile, and will be transferred to Stryking’s account soon.

Also, a verified smart contract for ICO, which has been audited by Digital Information Nordic AB, is published on Etherscan. We note that after reviewing the smart contract code (not a thorough audit), it became unclear how the lock-ups for team will be controlled as there is no conditions regarding this in the smart contract. However, according to the representative from the team, tokens for team will be held in a wallet, which will be controlled by a trustee (notary).

We note that there is a token sale agreement published on the website.

The Stryking token sale event was initially planned to be held on the Gibraltar Blockchain Exchange (GBX) token sale platform. But, as it was planned to launch the ICO during the Football World Cup and the time frame was not sufficient to perform all the required procedures for the ICO on the GBX, it was decided to hold the public sale event on Stryking’s website (3).

Meanwhile, as the public sale will be conducted on the Stryking’s website, and there is no information regarding the details of fundraising (how fiat money will be accepted, lock-up for bonuses, countries restricted list, etc.), this as a whole significantly increases the level of risk for potential investor.

The amount of bonuses distributed to early investors depends on the time of contribution. In order to encourage the early contribution, the initial bonuses start from 25% to 30 % of the contribution amount. In the later phase, the bonuses will be from 15% to 10%. In the Public Token Sale Event, there will be no bonus allocation.

The STRYKZ token Sale Event will be held in two phases:

https://lh4.googleusercontent.com/4h_rP3XVgkt_jUJxJc3hV8PLEKKORSTRcH2tFzdc-01hDpzzQzyLeKxshGQ4XSfHDND2Qd4rb7NgJSIdLORxckMxpwUVSOnGrfmPqHThoFUOW7BQNvXjs3etXKiqQldWIJpftxjydRI

Distribution of tokens:

https://lh3.googleusercontent.com/qzJamK9AIV5IYqW0cGuH0QwrGSKhxxYv-gMl3r81_agNft3yGERcgPot1VGpwA7DIkpceW_4r43pXm-AE7PsJVVw7bPkTSO08PTK38Vumxv0Egv7wYvGII8NqWW1SZi8s0Yz_ARAM20

40% of the total token supply will be allocated for the private pre-sale and the public sale. 15% will be used for additional external development, marketing, partnerships and PR for the project. 10% will be used for an initial reward program, which later on will be funded by ongoing revenues. 20% will be put into a reserve. And 15% will be distributed among founders, the team and shareholders. The proceeds are locked up for six months and afterwards 1/30 of the tokens can be sold per month with a daily limit of 10% of the monthly contingency, which covers the period of 2.5 years.

Any unsold tokens will be put into cold storage. In the first year, 33% can be used for partners, community, etc., another 33% in the second year, and the remainder after two years from the end of the Token Sale Event.

Allocation of funds:

https://lh5.googleusercontent.com/7-IKc2g4m3qHuBznVMzMDj2JzZQxvtRPQyyn2BELxhEfDcLHiHpf-knmyxJMT-TOxz2jKFbW6NokMbF3cJlQOdCwPE1XRWVWkiCdxrWz6QtyF3m2CJzcxWVDRZWqnaQrd6Jw2nXHcTw

The proceeds allocation scheme will be as presented above. 30% will be used for further development of the platform, and to introduce new features and functionalities. 25% will be allocated for marketing, which can be considered as a reasonable amount. 15% will be used for ongoing operations on the Stryking’s live platform, as well as technical operation costs. 15% is planned to be used for third parties like data providers and other service providers. 5% of the proceeds will be used for the administration, and the remaining 30% will be left for the contingency reserve.

The forecast distribution of funds between technical development, marketing and ongoing operations is healthy, taking into account the project’s nature and current development stage. However, if the hardcap is not reached, it is highly likely that the forecasted use of proceeds will change accordingly. Also, according to the representative from the team, in case the softcap is not reached, the proceeds will be returned back to the investors.

The team has also launched a bounty campaign with 5 different bounties. As it is stated on Bitcointalk (4), 2% of all tokens for sale will be allocated for bounty. Given that the hardcap is USD 20 million, it accounts for USD 400 000 worth of tokens. We note that it may have a slight negative impact on the short-term / mid-term token price.

 

 

The Stryking’s Football-Stars (an existing platform) intends to introduce brand new features and functionalities with blockchain, while keeping certain features unchanged, such as the free-to-play model, where users will not be obliged to pay in order to play Challenges.

At the moment, the platform uses the following:

  • Coins, which are the main currency in Football-Stars. It is used to start challenges and buy premium features, it can be bought in the shop or gained through winning Challenges, unlocking achievements or proceeding in the levelling system.
  • Stars, which are the loyalty points that can only be received by winning Challenges or unlocking Achievements. The Stars can be redeemed within the in-game shop for contextually fitting fan rewards like (real) club jerseys, footballs, cool gadgets, etc.
  • STRYKZ tokens, which will introduce completely new features and functionalities to Football-Stars platform, including token-based Challenges, early access to new features, enter the VIP club, see exclusive content, etc. STRYKZ will also be used as a reward to the community for contributing to the growth of the platform by generating Challenges, bringing in new users, creating exciting content, and more.

https://lh3.googleusercontent.com/u2tKZ0GYdckQBx1ShCgK6lYiMU2Z03TZcZgs12k3yqQ9Cvukli4VaNkP-_COo9NmfnVdHiJHk3SfJeJgJBY_8otzY4s1kiTLHoevrFoe8c71qudomzoy2LJLoy6eCd_YPRO8XjkAv9g

Some of the new features and functionalities, introduced with STRYKZ, are as follows:

User generated Challenges. So far, the Challenges were either created by Stryking automatically or manually, but this tool will become open for users, so they can create their very own Challenges (a single match or a whole match day, set their own restrictions, winning types and others).

User-generated content. As Stryking has the capacity to create a limited amount of football content internally, it will open up the platform for user generated content, so users can contribute to the platform and earn STRYKZ for this. The content can be, for example, reporting the wrong injury status of a player, creating articles, reporting match data, etc.

The Jackpot challenge. A small amount of STRYKZ from all the token-based Challenges will be put in a Jackpot. Playing the challenge, users have to pick the best team of a matchday, and the winner will get the Jackpot. However, as it is mentioned in the project whitepaper, the availability of this feature is subject to the regulatory uncertainties regarding gambling.

Platform as a Service (PaaS). Additionally, Stryking will introduce the PaaS, which will offer three levels of platform services:

  • Partial platform that allows the customer to quickly build and develop branded “mini-games” like the Football-Stars Challenge Mode
  • White-label deployment, which makes it possible to quickly and cost-efficiently take full advantage of the Football-Stars platform by setting up a local sports gaming application based on the Stryking code base
  • PaaS integration makes it possible to build almost any fantasy sports game while making full use of the robust Stryking PaaS backend, database services and advanced logic- and data- layers

https://lh4.googleusercontent.com/4xQTA8nlAxScOrZtdCFmO8eQYGQOEEusGOXfVawX4KoWFkTzgQLWTGo01tVtyzQsQ-1yAlcAGE4uvUHDJ-kFPX2374v8_L7r842c1APV7qim_Dku3nAk0wi_eiOR-rrOQlQZt2aRcD4

Developer program. In the Developer program, developers have to sign up and be approved by Stryking. By contributing quality source code to the project, they will be rewarded with STRYKZ. So, the developers will help to develop new features and enhance the platform, and, at the same time, this will increase the distribution and liquidity of the STRYKZ tokens.

The project will use the Ethereum-based utility tokens, which will be integrated seamlessly into the existing Football-Stars platform. However, in the whitepaper, or on the website, there is no technical description on the details of integration, and platform fees are not specified.

The above issues and the absence of the actual blockchain platform MVP, as of June 2018, make the assessment of the product’s services or the platform almost impossible, and significantly increase the level of risk for potential investors. However, according to the representative from the team, blockchain features will be added to the existing Football-Starts platform as part of the normal update process. Also, STRYKZ tokens will be integrated into the Football-Stars platform the after public sale as described in the roadmap (in testing at the moment).

 

 

Roadmap

 

The team provides the following project roadmap:

https://lh3.googleusercontent.com/kaQsrmyiSqJRMsSIMaPOeNMCebWm-krlc-cl8YNDXtnnI4E5fViBim30moLpbjL42Vj_RxqC09DNyDSFbN74CNlAIsoFaUrQ_wxw_qt1EMK6EPn1ybbwLpQMyKpBnuRmJ8hVGICvZ3w

https://lh6.googleusercontent.com/F-HyqKUqHNfWGAvOnF_balvNSbhjNBY3-STH05DPfOxMLGPf6wTF_AtHONf3L6J8MIQGoTdLcTVu-CwVe-U6qWgdaSfJ_bBJZDY-3j_WiK04miCzrUo3Lqso7HXCJI6ie5d5UgfXt6Y

https://lh3.googleusercontent.com/JTyZBgVHb2BgYISbz97AsEhbVOqv4X9tkUnIz73si8zvG3bpvWCd-ApiR-8UNv5yGxi161owBpt_ILstCRkHTXiJYT1JMYFj5038Z-0qTLZpVbnlohXGhdHE1681A1FSkBPqDg-WdxE

The project whitepaper says that the development of the roadmap is based on the assumption that at least 75% of the hardcap will be reached. In the event of the amount of funds raised will be less, given that the platform is already functioning, the project can still deliver its products as presented, but at a slower rate. Stryking will report biannually on the progress of the development.

According to the whitepaper, the amount of tokens allocated for the team is 15% with a lock-up period of six months, after which 1/30 of the tokens can be sold per month with a daily limit of 10% of the monthly contingency, which covers the main milestones in the roadmap.

At the time of writing (June 2018), no MVP is available. Moreover, the project’s roadmap does not show the release date of the MVP and mainnet. It is also unclear when and how the blockchain will be integrated to the existing Football-Stars platform. Besides, the absence of an MVP before launching an ICO increases the risk for potential investors. However, according to the representative from the team, blockchain features will be added to the existing Football-Starts platform as part of the normal update process. Also, STRYKZ tokens will be integrated into the Football-Stars platform after the public sale as described in the roadmap (in testing at the moment).

In 2017, the fantasy sports industry was worth over $7 billion, and gave birth to a wider fantasy gambling industry where participants assemble a virtual team based on the performance of actual football players.

One of fantasy football’s biggest appeals is that it is directly related to sports. Sports bring people together to socialize, but it also brings out the natural competitive instincts in us. It is this social competitiveness that attracts people to fantasy leagues. And the potential audience is enormous.

In America, 64% of the population watches NFL football on a regular basis. That’s 208 million people of the country’s population of 325 million.

So, from the outset, fantasy football has a very large potential audience, but there are a number of factors that enabled the industry to capitalize on the market (5).

https://lh6.googleusercontent.com/bmCiMzsvXvR1weul1xstD5FtMDTyYeRiYWvVbkwaJimoLY4sgVdIeQoP5FxXlGr2ss9XkVzmd1vDEVXWEmmrFz89A_xMlzP-dSh72U3TETHU0OfJ7OhBEGnjjxgJXXMyCDK7_7pstiQ

Specifically, taking the number of users of fantasy football, which is enormous, and mobile users is also a huge part of the business.

The number of mobile fantasy football users grew by 15% from one year ago, twice as fast as the growth experienced by the overall industry. Similar expansion over the next decade projects fantasy football will have 60 million users by 2024, with almost three-quarters of the market accessing the game through an app (6).

https://lh6.googleusercontent.com/_xJ2ERIkRfSO686-P62CyJ29Mm2pkCqlOb5MEzsP5SY3LTeQe75nm3w00-k21LpO7dYhN5xvpxnPdp6m3fH2TUjWhd0xRmOBoDbui26oIfDIAXby-LWfcbzVQpQ9qzOTSzBWPNrYALo

The biggest possible added value that the blockchain can bring to the table is near-perfect data integrity. The blockchain can also introduce the following improvements to the problem areas compared with the traditional centralized platforms:

  • Reduced fees
  • Streamlined verification
  • Increased withdrawals and payouts

For the purposes of analysis of the macro-level factors affecting STRYKZ’s project, a modified PESTEL framework will be used. The PESTEL framework analyzes Political, Economic, Social, Technological, Environmental and Legal factors. As far as blockchain projects are concerned, Environmental and Social factors are usually not applicable or have a relatively small impact.

Political – The gaming industry is free from political risks (except for several countries which are not significant in terms of market share).

Economic – according to the Newzoo report, consumers are spending more time than ever on games, and this is especially true for the millennial generation. The reason for this is that games now cater to a much wider variety of interests. This includes lean-forward (gaming intensely or casually), lean-back (viewing content created by peers or provided by the professional gaming scene), creating unique content and sharing (on-demand and live streaming) (7). The entertainment industry is one of the fastest-growing market sectors.

Technological factors – development of high-tech devices (smartphones, tablets, VR/AR) will contribute and lead to even more growth for the market in the foreseeable future.

Legal – according to the Eilers report, although there are some legislation uncertainties regarding the fantasy sports industry, as a whole, the foundation of the DFS industry is on more stable ground than it was a year ago. That paints the possibility of a future where it can grow and eventually become profitable (8).

 

Competitive landscape

We will use Porter’s Five Forces framework to perform an initial competition assessment for the STRYKZ project.

Threat of new entrants – Medium

The threat of new entrants is medium, as the market for fantasy sport is split between two main players who pioneered the industry, DraftKings and FanDuel. So, there are well-established market players currently dominating the market, and the barriers for new entrants are relatively high.

Threat of substitutes – Medium

Threat of substitutes is medium, as, except for the biggest players, currently there are some blockchain projects launching their platforms in 2018-2019. And users are mainly interested in the game and improved and extended functionalities.

Bargaining power of customers – Medium

The key factor for a platform like STRYKZ is its popularity among users. If it succeeds in attracting enough users to pay, contributors and businesses will have no other option but to use the platform (and vice versa). We have assessed the bargaining power of customers as medium.

Bargaining power of suppliers – Low

Since there is only labor (developers) and expertise (and maybe node holders) on the supply side for STRYKZ project, the bargaining power of suppliers can be assessed as relatively low.

Industry rivalry

As of June 2018, Stryking has some indirect competitors in the blockchain market and indirect competitors in the traditional market; please refer to the summary table below:

 

STRYKZ

MyDFS

Digital Fantasy

Sports

No Limit Fantasy Sports

FanDuel

Project type

Blockchain platform for fantasy sport

Blockchain platform for fantasy sport

Blockchain platform for fantasy sport

Blockchain platform for fantasy sport

Platform for fantasy sport

Ticker

STZ

MYDFS

DFS

NLC2

N/A

Key functions / features

Peer-to-peer Challenges, Jackpot Challenge, PaaS

Personal leagues, Real-time sport stats, Different football leagues

Tournaments, The Mind Inside A GM, Peer-to-peer, zero fee

Crypto Fantasy Sports (NLC2 Platform), No Limit Fantasy Sports (USD Platform), No Cost Fantasy Sports (Free Platform)

Tournaments, Multipliers, Head to Heads, Beat the Score, Satellites & Qualifiers, 3–100 Players, 50/50s

Sports offered

Soccer

Soccer, Ice

hockey, NBA,

NFL, Cricket

NFL, MLB, NBA,

PGA, Soccer

Soccer, NFL,

Ice hockey

NFL, NBA + WNBA, MLB, NHL, EPL + UCL, PGA

Key users

Developers, users, contributors, businesses

Developers, users

Developers, users

Developers, users

Users

Consensus

PoW

PoW

PoW

PoS

N/A

Development stage

Launch of special edition for FIFA World Cup 2018 in Russia

MyDFS app released

MLB relaunch

Upgraded wallet

Released

ICO status

Presale round

Private sale is ongoing

Ended

Ended

N/A

Fund raised during ICO/ hardcap

No data / USD 20 million

No data / USD 40 million

No data / No data

No data / No data

N/A

ICO valuation1

USD 50 million

USD 125 million

USD 11.6 million

USD 0.28 million2

N/A

Market capitalization

N/A (not listed yet)

N/A (not listed yet)

N/A

USD 15.3 million

N/A

 Product launch

Q4 2019

Q2 2018

Q1 2019

Q1 2019

N/A

1 100% of tokens at ICO price

2 Supply is not fixed and is increasing at an annual rate of 1.5%-2%

MyDFS has promised that their platform will be fully functional by June 2018 before the FIFA World Cup. Very few projects have functional products immediately after their launch.

Digital Fantasy Sports will feature its own network of games across multiple sports known as Digital Fantasy Sports (such as NASCAR, boxing, NFL, MLB, and NBA among others) allowing users to compete and win using tokens. This way it will attract more fantasy games enthusiasts and assure them of a fun experience that is not available anywhere else in the digital fantasy sports platforms.

No Limit Fantasy Sports offers a cheaper and more convenient way of playing, which can easily attract lots of users. The project is mainly focused on US residents, where the marketplace is dominated by 2 companies. Instead of the existing 10%, cryptofantasy sports has a 5% rate for entering games, and it will go down to 2.5 % for head-to head matches.

FanDuel offers guaranteed daily games and has a convenient method to deposit and withdraw money through Paypal or eCheck. There is money back guarantee if you are not satisfied with your first few games. It is completely legal, however, and it is limited to to the United States and Canada.

STRYKZ, just as its peers in the blockchain market, becomes more transparent by using the blockchain technology, and it also provides safer, cheaper, more secure, and frictionless experiences. However, blockchain solutions are still relatively unknown. The thing about fantasy gaming is that the more participants there are, the better. So for blockchain-based gaming solutions to gain any real traction, they need to first concentrate on their active user bases.

Taking the STRYKZ token price, which is 0.054 USD, in comparison with its peers: MyDFS (ICO price is 1 USD), Digital Fantasy Sports (ICO price is 0.15 USD, current prices are from 0.095 USD to 0.08 USD, depending on the number of tokens being purchased), No Limit Fantasy Sports (ICO price is 0.0014 USD, current price is 0.074 USD); it can be concluded that IFOOD is reasonably priced.

Furthermore, as there is a duopoly established in the market (Fanduel and Draftkings), the competition is very tough in the industry. Given that most of the competitors are based in the US, and the US citizens are not allowed to participate in the ICO, they are losing an opportunity to distribute tokens amongst the primary audience. While STRYKZ aims to expand the platform not only in the US and in the EU, but also in Russia and Asian markets, there might be an increase in the number of active users of the platform.

We note that there are no developers and blockchain experts, except for technical advisors, on the team roster. The team is presented with management team members (CEO, CMO and CFO). The absence of developers on the team, and inability to assess their competence, can significantly increase the risk for potential investors. The team has informed us that the development of the currently active Football-Stars platform is conducted by the external Starloop Studios team (it is stated in the whitepaper that the company has a third party agreement), which includes about 10 developers of dedicated team members.

Besides, Stryking has the following third party service agreements:

  • DFL Deutsche Fußball-Liga: Official License of the German Bundesliga (current contract until June 2019, can be prolonged)
    • Opta: Sports data provider (indefinite agreement)
    • Kicker: German media partner (current contract until June 2019, can be prolonged)

However, only 4 (out of 15) advisors have mentioned on their official LinkedIn profiles their affiliation with the STRYKZ project.


 

 

Name

Position

Total experience

Relevant experience

Previous experience (positions)* - years

Relevant education

Professional

achievements

LinkedIn

Connections

Endorsements / Recommendations

 

Team

Dirk Weyel

Founder & CEO

18+ years

         

18+ years

(Founder & CEO)

6+ years (Chairman of the Supervisory Body at the European Games Group AG)

No (Economics)

-

Yes

500+

Yes

 

Christian Szymanski

Co-Founder & CMO

17+ years

7+ years

(Director marketing)

3+ years (Brand Manager at Codemasters GmbH)

No (Business)

-

Yes

500+

Yes

 

Hong Thieu

CFO

21+ years

16+ years (Co-founder, CFO)

7+ years (Managing Director at MaHong GmbH)

No (Economics)

-

Yes

500+

Yes

 

Business advisors

Dusan Stojanovic

Business advisor

24+ years

Yes

16+ years (Founder and Director at True Global Ventures 1,2 and 3)

Yes

Founder & CEO TGV

Yes

500+

Yes

 

Kelly Choo

Business advisor

23+ years

Yes

5+ years (Co-Founder and Business Development Director at Brandtology Pte Ltd)

Yes

Serial Entrepreneur, Partner at True Global Ventures

Yes

500+

Yes

 

Anders Larsson

Business advisor

19+ years

Yes

5+ years (President at Lightbulb crew)

Yes

Founder & CEO NetLight Consulting

Yes

500+

Yes

 

Caspar Schmick

Business advisor

11+ years

 

         

Yes

4+ years (Head of Content & Partnership at Onefootbal GmbH)

Yes

Business Development

Yes

500+

Yes

 

Andreas Lipkow

Business advisor

22+ years

Yes

2+ years (Managing Director at Sympasys GmbH)

Yes

Financial Market Expert, Market Strategist and ICO Advisor

Yes

500+

Yes

 

Ong Jun Hao

Business advisor

No data

Yes

1+ years (Founder at BlockConnectors)

Yes

Founder of Blockconnectors.io

Yes

500+

Yes

 

Technical advisors

Petter Sehlin

Technical advisor

13+ years

Yes

8+ years (Partner at True Global Ventures)

Yes

Founder Youcal AB

Yes

500+

Yes

 

Leonard

Tan

Technical advisor

4+ years

Yes

1+ year (Software Engineer at Visa)

Yes

Developer Relations at Ethereum

Yes

500+

Yes

 

Gaurang Torvekar

Technical advisor

5+ years

Yes

2+ years (Co-Founder and CTO at Attores – Smart Contracts and Blockchain)

Yes

CEO Indorse

Yes

500+

Yes

 

William Metcalfe

Technical advisor

18+ years

Yes

1+ years (Co-Founder at Curvegrid)

Yes

Co-Founder Curvegrid

Yes

429

Yes

 

Jeff Wentworth

Technical advisor

18+ years

Yes

4+ years (Vice President at Goldman Sachs)

Yes

Co-Founder Curvegrid

Yes

500+

Yes

 

Jens Kleemann

Technical advisor

18+ years

Yes

15+ years (Self-employed at KTB Systeme)

Yes

Founder & CEO of cryptomath

Yes

174

Yes

 

Sports industry advisor

Luís Figo

Sports industry advisor

-

-

15+ years (President at Fundacao Luis Figo)

-

Former FIFA World footballer of the year and UEFA advisor

No

-

-

 

Heissam Hartmann

Sports industry advisor

14+ years

Yes

13+ years (Owner at mrHeissam Consultung)

Yes

Founder of Celebrity & Influencer Brand Passiontainment

 

 

 

 

 

 

 

 

Yes

500+

Yes

 

Thilo Kunkel

Sports industry advisor

11+ years

Yes

5+ (Assistant Professor Marketing and Sport Management at Temple University)

Yes

Assistant Professor Temple University

Yes

500+

Yes

 

* - only selective experience is shown

 

 

The total supply is 335 000 000 STRYKZ, 40% of which will be allocated for sale. Any STRYKZ tokens unsold during the ICO will be returned to the foundation and sold at a later time. STRYKZ tokens will not be refundable.

STRYKZ is a utility token. As stated in the whitepaper, it will have the following uses:

  • Early access to new features
  • Access to VIP-Club (access to unique virtual fan items, merchandise which “money can’t buy”, early access to new features)
  • Access to exclusive content
  • Access to user-generated challenges
  • Coin packages in “flash sales”
  • “Follow-the-best feature”

STRYKZ tokens can be obtained through:

  • Participation in Token Sale Events
  • Contributions to the platform (such as creating challenges, reporting match data and injury statuses, writing articles on past or upcoming matches, how-to, etc.)
  • If, in the future, the token is listed on a digital asset exchange, acquisition will occur via such exchange

https://lh5.googleusercontent.com/XwePZnbB-fIXCqLXv3FIw_AtaCd54WmxKlPCFtBUT9-oeXWxzkLI90OqNlonqgbnMUzhnRWqEqckTG594RDjN9TKvPZy2HIcGsJkhhqVpfhahES9HUajwcoNNExGPlCFtAoJOtS0nK4

Stryking is a working platform, and, as of now, its current business model is based on four different revenue streams:

  • In-game purchases: users buy Coin packages for in-game use or unlock a premium account
  • In-game advertising: dynamic display advertising in web and mobile for non-premium users only
  • In-game sponsoring: tailor-made in-game sponsoring campaigns for brands and sponsors who are active in the real-life football space as well
  • B2B fees: license or monthly operations fees from B2B/whitelabel partners

Moving to the blockchain, Stryking plans to introduce user-generated challenges in which users can use the STRYKZ tokens to play against each other. As it might be considered as gambling in some countries, the team will conduct a detailed analysis of the regulatory framework in every new market before entering it. Depending on the regulations, a version of the product without this feature might be released, or it can be introduced as a PaaS with a B2B partner, who owns a respective license. Also, if required, Stryking might acquire a license in order to comply with the local regulatory requirements.

STRYKZ reward program will be available for the active users, developers, business consultants and other contributors, enabling them to be a part of the future development of the STRYKZ universe of products and services.

 

We identified the following key factors that may affect the token price:

Factor

Description

Price effect

Development and release of new products according to the roadmap

The team plans to introduce several new features which build up the platform together. Each one of them can be considered as a separate project and a successful release for every one of them may increase the price, whereas failure to deliver will push the token price down.

Bullish/Bearish

Demand for the platform

The monetization system used in gaming as of 2018 (with fiat money) has proven its consistency. We believe that it is more likely than not that the Football-Stars platform will find its market and demand.

Strongly Bullish /Bearish

Sales of tokens by the team, advisors and partners

15% of tokens are reserved for the founders, the team and shareholders. A lock-up of 6 months (afterwards 1/30 of tokens can be sold per month) is set for the team/founders/advisors, so potential sales should not significantly impact the token price.

Bearish

Limited token supply

Assuming that the company develops the platform as intended, market penetration is sufficient and the demand for the solution exists and is growing, while a limited token supply will result in a long-term deflation of the token price.

Bullish

Volatility and immaturity of cryptomarket

Although the token lacks speculative purposes, high volatility in crypto markets may cause traders and speculative investors to trade STRYKZ, which may lead to STRYKZ price fluctuations or even speculative activities (pump and dump, etc.).

Bullish/Bearish

 

 

Based on our analysis we identified the following risks for the STRYKZ project:

Risk

Description

Level

Absence of MVP

At the time of analysis (June 2018), the team has not yet released an MVP/alpha. The absence of an MVP seriously compromises the ability to assess the team’s competencies, the capabilities of the suggested product, the level/degree of product development, and other crucial factors that investors in an ICO must consider before making any decision to invest. However, according to the representative from the team, blockchain features will be added to the existing Football-Starts platform as part of the normal update process. Also, STRYKZ tokens will be integrated into the Football-Stars platform after public sale as described in the roadmap (in testing at the moment).

High

Team composition / competence

We note that there are no developers and blockchain experts, except for technical advisors, on the team roster. The team is presented with management team members (CEO, CMO and CFO). The absence of developers on the team, and the inability to assess their competence, can significantly increase the risk for potential investors. The team has informed us that the development of the currently active Football-Stars platform is conducted by the external Starloop Studios team (it is stated in the whitepaper that the company has a third party agreement), which includes about 10 developers of dedicated team members.

However, only 4 (out of 15) advisors have mentioned on their official LinkedIn profiles their affiliation with the STRYKZ project.

Medium

Incomprehensive technical description of the project

In the whitepaper, or on the website, there is no technical description of the details of blockchain integration to the Football-stars platform, and the platform fees are not specified. The above issues and the absence of the MVP, as of June 2018, make the assessment of the product’s services, or the platform, almost impossible, and significantly increase the level of risk for potential investors.

Medium

Incomprehensive whitepaper

We believe that the whitepaper has the following issues:

  • Absence of competitor analysis
  • Unclear token and project economics (e.g. fees are not specified, details of integration to the platform are not clear, etc.)
  • Insufficient technical description of the project

Given that there is no actual MVP yet, all of the above significantly increases risks for investors.

Medium

Incomprehensive roadmap

At the time of writing (June 2018), no MVP is available. Moreover, the project’s roadmap does not show the release date of the MVP and mainnet. It is also unclear when and how the blockchain will be integrated to the existing Football-Stars platform. Besides, the absence of an MVP before launching an ICO increases the risk for potential investors.

Medium

Token price decrease

Considering that bonuses for the private sale, which varies from 25% to 30%, and for presale – from 10% to 15%, the token price might face significant pressure. However, the team does not disclose the amount of funds raised during the private and presale rounds, so the amount of tokens sold with a discount is unclear.

The team has also launched a bounty campaign with 5 different bounties. As it is stated on Bitcointalk, 2% of all tokens for sale will be allocated for bounty. Given that the hardcap is USD 20 million, it accounts for USD 400 000 worth of tokens. We draw attention that it may have a negative impact on the short-term / mid-term token price.

Medium

Commercial risks

As there is a duopoly established in the market (Fanduel and Draftkings), the competition is very tough in the industry. Given that most of the competitors are based in the US, and US citizens are not allowed to participate in the ICO, the team lacks an opportunity to distribute tokens amongst the primary audience. While STRYKZ aims to expand the platform not only in the US and in the EU, but also in Russia and Asian markets, there might be an increase in the number of active users of the platform.

 

 

 

Medium

Project’s public GitHub is not active enough

Although the company has a public account on GitHub, there are no repositories, except the smart contract as of the date of analysis (June 2018), so it is impossible to conclude the degree/level of development of the new features and functionalities of the platform. However, according to the representative from the team, the code is being developed on team member’s GitHub profile, and will be transferred to Stryking’s account soon.

Medium

 

 

 

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.