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Effect.AI (EFX)

Effect.AI

IT

Overview

Effect is a NEO based decentralized AI platform.

 

The information contained in the document is for informational purposes only. ICORating received monetary compensation in the amount of $4300 from the entity listed in this report, solely for featuring this report on the ICORating website. However, ICORating did not provide and was not requested to provide a rating for the featured entity. The information contained in this document was provided by the featured entity to the ICORating Team and from data obtained 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.

Features

Effect.AI is a decentralized platform based on blockchain technology that is created for the development of Artificial Intelligence market and AI related services called The Effect Network.This network is designed to provide an alternative to such services as Amazon Mechanical Turk, Fiverr, OneSpace and Guru.

Effect will fully operate on smart contracts deployed on the NEO blockchain, access to which is available to every Internet user. The purpose of Effect is to provide services necessary for an accessible artificial intelligence market. The Effect Network requires no commissions, and its release is split up into three distinct phases with separate goals:

  • Mechanical Turk for creation of microtasks that can then be completed by workers in exchange for crypto.

  • Smart Market for exchange of algorithms. The developer registers his product and sets the price for its usage. The user interested in this AI product pays the indicated fee and gets access to the AI algorithm.

  • Effect Network for transferring these algorithms from the centralized servers on the blockchain, so they are running on a global scale via the NEO blockchain.

The full release of phase 1 is set for Q3 2018. Phase 2 is currently set to come out in Q2 2019. Phase 3 is set for Q4 2019.

The EFX token will be launched on the NEO blockchain, adhering to the NEP-5 token standard. It will be the medium for payments between workers and requesters on The Effect Network. The objective of Effect is to maintain liquidity for EFX tokens, therefore, the Effect.AI Galaxy Pool (EGP) will be designed consisting of a mix of EFX and native tokens and featuring price manipulation mechanism. Several rules will drive the EGP towards an equilibrium.

Effect.AI project will enable to set tasks in AI segment, issue an approximate fee for their execution and find people who can solve these problems.

Crowdsale

Token Sale
ICO start date 24 Mar 2018
ICO end date 28 Mar 2018
ICO token supply 260,000,000
Soft cap 5,279,080 USD (fiat)
Hard cap size 18,440,500 USD (fiat)
Raised 13,591,090 USD
IEO Platform
Country Limitations United States
Token details
Ticker EFX
Type Utility-token
Additional Token Emission No
Accepted Currencies

ETH

NEO

Bonus Program

For the first 5,200,000 tokens (2% of token sale) -10%

Token distribution

40% - Public Token Sale
20% - Future Funding
16% - Platform Incentives (Galaxy Pool)
15% - Effect.AI Team
7% - Partnerships & Advisors
2% - Bounty

Funds allocation

20% - Technology development and Effect M-Turk platform
13% - Advanced Functionality of Blockchain & Smart contacts
10% - Security and Hardware
18% - Requesters & Workers Acquisition
15% - Marketing
9% - Operations, Overhead, Legal, Administration
8% - Partnership & Talent Acquisition
3% - Blockchain
2% - AI
2% - IOT

Ratings

Type of ratings
Rating
Status
Hype score
Very High
Active
Risk score
Medium
Active

Team members

Name
Position
Score
Social
Online Marketing Manager
1
Software Developer
1
CEO
1
Project Manager
1
Software Developer
1
CTO
1
Video Producer
1
Chief Architect
1
CCO
1
Software Developer
1
COO
1
Social Media Manager
1
Copywriter
1
Software Developer & AI Specialist
1
CTO and co-founder of The Bee Token
1

Advisors

Name
Position
Score
Social
Practising Professor of Blockchain, Founder and Global Strategic Advisor
1
Experienced financial Advisor
1

Funding Rounds

Development

Pre-Launch
Launch
Custom blockchain
Testnet
Mainnet
Overdue NA No NA NA

Rating Review and Analytics

Investment rating Info NA
Hype score Info Very High
Risk score Info Medium
Get Rating
Effect.AI ICO Contacts
More on ICO

Trading

(EFX)
$0.0076
1.03% 24H
ETH
return 0.29x
Start ICO 24 Mar 2018
End ICO 28 Mar 2018
Token EFX
Price 1 EFX = 0.07 USD
Product Type Platform Marketplace
Country Limitations United States
Whitepaper View
Effect.AI (EFX) widget
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