Past-ICO Review: Odyssey’s Arduous Adventure

  • Eric Eissler
    🕵️‍ ICO Watch

    It will be an odyssey to take on the shared economy of things, there are already multiple players inside and outside the cryptosphere

Past-ICO Review: Odyssey’s Arduous Adventure
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Odyssey wants to take a stake in the shared economy of things, where ownership of objects is not owned by one but by many. Uber, Lyft, AirBnB, these are just some of the companies that make up the shared economy of things. Odyssey wants to use Blockchain to create better networks of sharing platforms which are more decentralized. Odyssey has a long way to go, with a target date of full systems operational somewhere by October 2019 or 2021 according to the roadmap.


Odyssey raised $50 mln in a one-day token sale and has had much hype around the token. The token was offered to the public markets a day after the ICO ended and skyrocketed up from $0.02 to almost $1.00 in four days! However, the glory was not had long, after peaking close to one dollar Odyssey fell back to just above its entry price four days later. Now, the current price is next to nothing at $0.003215, at the time of writing. The market cap is at $15.2 mln and there are 4.75 bln tokens in circulation out of 10 bln total.

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The team behind Odyssey is obscured and only the two primary advisors Yi Shi and Justin Sun are listed on the site. Yi Shi is the CEO of Shanghai’s Avazu Holding, while Justin Sun is behind Tron coin. Advisors are one thing, but not listing the team is a major red flag. Usually, information about the team is transparent because these companies want people to invest in them and given all the scams that have been associated with ICOs and crypto, people tend to shy away from companies where the team is not visible. However, this did not stop the investors, considering the ICO raised $50 mln.

Strong social media

There are some 40,000 followers on Telegram and more than 100,000 on Twitter, so there is a good base of people who are interested in the company and what it wants to do. Recently, according to a tweet the wallet and payment system is now live.

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According to the website, the system functions on ratings and rewards for services provided. Therefore, it will be the service provider and his/her interactions with providing clients service that to a level that is satisfactory will allow this person to carry on their work and be known for doing a good or bad job. Obviously, people who do will be recommended and rewarded, whereas poor performers will not, and eventually (author’s guess) be removed from the system. Competition for this type of service is already high both in and out of the cryptosphere. Odyssey has the cards stacked against them in terms of already existing competition and a long way to launching a product.

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The Top Rate ICO Industries in 2018

  • Stavros Georgiadis
    📊‍ Infographics

    Investing in ICOs requires due diligence and analysis of potential risks and returns.

The Top Rate ICO Industries in 2018
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Investing in ICOs requires due diligence and analysis of potential risks and returns. CoinDesk is its article named “The Seven Pillars of ICO Investing” has listed the most important pillars to consider before deciding to invest or not on any specific ICO project.

These 7 Pillars are the following:

  1. Team
  2. Idea
  3. Execution
  4. Legal/Regulatory Framework
  5. Tokenization
  6. ICO Structure
  7. Price Divers

What is interesting and should not be surprising though in the ICO investing is the fact that business models and marketing, promotional channels differ significantly in the amount of fundraising, as some business categories have in general twice the median funding compared to the smaller ones. The following statistic may be useful to investors as it represents the ICO categories with highest median funding. A higher amount of funding may be justified by future business prospects about what investors believe are the most promising trends that could be deliver desired returns on investments given the risks taken.

Categories with highest median funding in 2018:

  1. Blockchain Infrastructure
  2. Internet & Telecommunications
  3. Computing & Data Storage
  4. Data Analytics
  5. Asset Management
  6. Legal Services
  7. Social Media & Communication
  8. Supply & Logistics
  9. IT
  10. Identity & Reputation

These business categories are referenced not in random order, but from highest to lowest order of median funds raised. The Blockchain Infrastructure category has the highest median funds raised at $ 7,012,289, while the Identity & Reputation category has the lowest median funds raised in 2018 at $ 3,750,000. The first and last business categories have a significant difference between them in terms of median funds raised as the Blockchain Infrastructure category is 87% larger than the Identity & Reputation category.

Another key interesting statistic in ICO investing is the geographical distribution of projects fundraising in the third quarter of 2018. The following infographic shows that there are again very large differences within continents. Europe and specifically Russia with $ 182.9 Million was the largest market, Israel with $19.6 Million was the smallest market, while South Korea witnessed a significant drop in fundraising as according to ICORating, in Q3 2018, 17 projects with South Korean origins raised USD 68 million, compared with 16 projects and USD 301 million in Q2 2018.

Geographical distribution of projects based on origin of the project team, Q3 2018

Geographical distribution of projects based on origin of the project team, Q3 2018

Country of origin means a country in which more than 50% of team members were living at the time of an ICO.

Another point worth mentioning is that in Q3 2018 USA had the largest number of projects compared to all mentioned countries in the above infographic, still Russia with a smaller number of projects, 63 was as mentioned the largest market.

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