Unboxed

Blockchain based network of people who get paid to post on social networks.

About Unboxed

Unboxed is an advertising platform that aids agencies use micro-influencers (Unboxers) for user-driven marketing. It gives brands and agencies the ability to utilize a new, low-cost marketing channel while giving social media users the ability to monetize their online presence. Marketing exerts and AI will be used to manage marketing campaigns and match Unboxers with projects. NBOX tokens are used to reward users and start marking campaigns, as well as give access to premium services.

Token Economics Product

Documentation

2.5
Documentation
Comprehensiveness

Does it cover the full scope of the problem and solution?

2.0
N/A
2 - Very limited information.
Readability

How easy is it to read and understand the documentation, comprehend the project's goals and trajectory.

4.0
N/A
4 - Relatively easy to read and understand, even if complex.
Transparency

Level of disclosure of pertinent information regarding the company and the project, including current stages of development, issues that have been identified and how to address them, potential problems, access to resources and repositories (github repository, patent applications). Honesty with regard to what the project can (vs. wishes to) achieve.

3.0
N/A
3 - Basically honest, but hyped up or potentially misleading.
Presentation of Business Plan and Token Model

What stages are to be achieved, how are they to be carried out and according to what timeline, what is the long-term plan. How well thought-out is the token model and how well does it fit into the company's overall business model.

3.0
N/A
3 - More information required. Discussion is based on unverified assumptions, business and token models are are not fully laid out, or some key issues remain unaddressed.
Presentation of Platform Technology and Use of Blockchain

What are the platform's core and additional features, how are they to be implemented and according to what timeline, what is the long-term plan. How well thought-out is the use of blockchain technology and how integral is it to the platform.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, does not address the underlying issues.
Legal Review and Risk Assessment

How professional are the disclaimers, risk assessments, terms and conditions, etc. Is the company working with respectable law/accounting firms? What about due diligence and smart contract auditing? Is a SAFT structure being used (and is the SAFT accessible)?

1.0
N/A
1 - None available.

Documentation

Comprehensiveness: The whitepaper, a onepager, and a business pitch-deck can be found through the project website. Additionally, the website also contains case studies for agencies that have used the product. Business-related content mostly pertains to market research and growth strategies as opposed to token economics. The company GitHub page is not provided and there is minimal legal content that can be found on the company website and whitepaper.

Readability: The whitepaper is simple to read and is visually appealing.

Transparency: The whitepaper does not seem deliberately obfuscated. However, the current stage of development with respect to blockchain integration is not adequately discussed. The organization does not provide public access to the project GitHub page.

Presentation of Business Plan and Token Model: Market research is presented towards the end of the whitepaper. The organization’s growth strategy is also outlined. Revenue growth projections are also included towards the end of the document. It is stated that Unboxed “takes a small percentage from Businesses and Unboxers”. However, the fee structure is not discussed thoroughly. Agencies and brands are also able to pay for premium services which include campaign prioritization and access to higher-ranked Marketing Experts and Unboxers. Details regarding the token model is somewhat lacking.

Presentation of Platform Technology and Use of Blockchain: The use of blockchain technology is only briefly discussed. In the whitepaper it is stated that blockchain technology allows microtransactions which “can reward not only Marketing Experts and Unboxers, but any social media users who engaged with the content”. There is a specific section in the whitepaper which describes why and how the organization will use blockchain technology with their existing product. However, the discussion is presented at a basic level. The consideration of using Ethereum is broadly discussed and an assessment of alternative blockchain solutions is not included. It is simply stated that the organization “may consider using alternative solutions to the Ethereum blockchain in the future”. Specific technical content is essentially nonexistent. The organization does not present their GitHub page but claims that the current product has “over 40,000 lines of code, hundreds of iterations, and product pivots”.

Legal Review and Risk Assessment: Legal content is essentially nonexistent in the whitepaper.

 

Documentation Market

Product

2.3
Product
Differentiation

What are the product's unique features / attributes / advantages? How is it different from other, similar products or projects? What makes it stand out or gives it an edge?

3.0
N/A
3 - Some; has a certain edge or angle.
Readiness

Readiness of the full platform, including blockchain/smart-contract/token infrastructure; based on what's publicly available (not just claims).

3.0
N/A
3 - Prototype / MVP / alpha of full product; Traditional platform exists, blockchain integration still in conceptualization.
Concreteness of Development Plans

How detailed is the roadmap? How well defined is the timeframe? How concrete and detailed are the milestones and how well are they correlated with the business and technology development plans, as well as with funding goals (i.e., fundraising dependent)?

2.0
N/A
2 - Vague and noncommittal, few milestones with few details provided.
Current Position within Roadmap

How far along is the project as a whole relative to the plans and roadmap (including growth, not just platform development)?

3.0
N/A
3 - Getting there.
Feasiblity

Are the project's development plans reasonable? Does the long term vision align with core objectives and current development efforts? Does the timeframe make sense?

2.0
N/A
2 - Very ambitious.
Blockchain Innovation

What is the level of innovation and development particularly with regard to blockchain technology and its utilization? Do the project's blockchain-related developments have value beyond the company's particular platform or network?

1.0
N/A
1 - None; simple, basic Ethereum based token (ERC20 with minimal smart contract functionality).

Product

Differentiation: Unboxed differentiates itself from most projects by already having a working product and a client-base that is already using the product and generating revenue. The platform allows social media users, even those with smaller followings, to earn NBOX tokens. Furthermore, the organization plans to use microtransactions in order to reward those that engage with sponsored social media content.

Readiness: Users are currently able to leverage influencers and start a campaign at https://www.unboxed.social/. However, blockchain integration with the existing platform has yet to accomplished. The current product is stated to be “utilized by over 100+ brands globally (spanning the US, Canada, the United Kingdom, Germany, Denmark, Norway and the Baltics)”.

Concreteness of Development Plans: The roadmap is presented in the whitepaper as follows:
2015
– Graduated from enterprise focused Alchemist Accelerator
– Raised funds from 12 angel investors
2016
– Launched an MVP
2017
– Launched Unboxed platform
– Brands like Philips, Huawei, Nestle, Mars chose Unboxed as a trusted partner
– Started to build network of Marketing Experts
2018
– Launching network of Marketing Experts
– Introducing tokens
– Starting global expansion to 100+ countries

The milestones outlined in the whitepaper lack technologically-focused milestones. Blockchain integration with the platform is only represented with a single milestone.

Current Position within Roadmap: The organization has developed a working product with a user base of “over 100 brands” and “over 40K active members”. Blockchain integration has yet to be achieved but the core product exists, is functional, has a user base, and is generating revenue.

Feasiblity: The implementation of blockchain technology in the context of the project seems fairly simplistic. However, there is seemingly a lack of commitment with regards to blockchain integration which is exemplified by the roadmap (with a single milestone dedicated to describing blockchain technology development), as well as the lack of details regarding the use of blockchain technology in the whitepaper.

Blockchain Innovation: There is a lack of discussion regarding blockchain technology. TThe platform does not seem to bring forth innovation from a blockchain perspective.

 

Product Company and Team

Market

2.3
Market
Target User Base

How big is the project's target user base, how large is its potential market?

3.0
N/A
3 - Has growth potential.
Market Penetration Potential

How easy or difficult will it be to penetrate this market sector on the scale proposed by the project? How dominant is the hold of current market leaders, and are they maintaining a competitive edge? For reviewers (not for tooltip): This should be generally with regard to both traditional and emerging blockchain solutions (assuming that in most sectors, there are no leading blockchain solutions as of yet, but there may start to be). Also, token regulatory issues that apply equally to all should not be stressed here, unless the project has an extra regulatory issue, or (in the other direction) if the regulatory measures taken help it considerably with market penetration...

2.0
N/A
2 - Somewhat difficult or unlikely.
Direct Competition

How many direct competitors does the project have (that are already known or can be easily found with a simple search), and how much further along are they? This should focus on blockchain-related competition but can include established or notable traditional (non-blockchain) competitors with a strong hold.

2.0
N/A
2 - Quite a few / somewhat better competitors (e.g., 7-10, some further ahead). Blockchain solutions are trendy in the sector.
Solution Advantage

How strong is the project's unique selling proposition (i.e., its stated advantage over similar or comparable ones)?

3.0
N/A
3 - Moderate.
Blockchain Disruption

How strong is the potential for disruption of the market sector due to the introduction of blockchain technology, as it is utilized by the solution?

2.0
N/A
2 - Unexceptional / weak.
Long-Term Vision

What are the long term goals and plans of the project? (In terms of concrete plans, not just hype or vague assertions.)

2.0
N/A
2 - Monetization and network growth, increasing engagement. Project with somewhat limited scope or questionable viability.

Market

Target User Base: The target demographic for the platform are major social media influencers, micro-influencers, as well as brands and advertising agencies.

Market Penetration Potential: There are a number of platforms that aim to leverage social media influencers for advertising purposes. With the use of their existing platform, Unboxed will require a good strategy in order to penetrate th blockchain-powered influencer advertising market, especially with regards to their strategy regarding token economics and blockchain development.

Direct Competition: There are numerous advertisement platforms that aim to utilize blockchain technology. Competitors are briefly discussed in the whitepaper and outlined as follows:

– Indahash
– Izea
– Linqia
– RhythmOne
– Takumi
– TapInfluence
– Traackr
– ExpertVoice
– Upfluence

Solution Advantage: Compared to other advertising platforms that allow social media influencers to monetize their following, Unboxed focuses on catering to micro-influencers which have smaller followings, but still have potential for successful marketing campaigns by having fairly high levels of engagement, as shown in the market research section of the whitepaper.

Blockchain Disruption: Blockchain integration is not adequately discussed. As a result, the level of disruption brought forth by the introduction of blockchain technology to the advertisement sector, more specifically influencer marketing, is uncertain. The most interesting advantage made possible by the tokenization of the platform is the ability for those that engage with social media posts to earn NBOX tokens.

Long-Term Vision: The development of the platform over the next 4 years (2018-2022) is summarized as follows:
– build a team of 125 professionals
– launch the Unboxed Network in 100+ countries
– reach $21.8 million in annual revenue (or $175,000 USD per employee) with a stable 2x annual growth rate in revenue
– break-even by 2021

The organization outlines specific and quantitative goals for platform development.

 

Market Token Economics

Company and Team

2.7
Company and Team
Company Stage and Foundation

When was the company founded, how mature is it? Has it raised significant funds? Where relevant, this should address the parent company. For reviewers (not for tooltip): Check company LinkedIn and Crunchbase profiles. Impression summary should list basic information such as founding date, location/s, previous fundraising rounds (via crunchbase), maybe number of employees (via linkedin).

4.0
N/A
4 - Established with some fundraising history (at least one notable previous investment round).
Team Assembly and Commitment

What is the structure of the team (core members, advisers, contributors)? Are all necessary positions filled or is the company still looking for key team participants? Are the team members fully committed to the project (or involved with other projects simultaneously)?

3.0
N/A
3 - Mostly assembled and committed.
Background of Lead/Core Team Members

Are LinkedIn (or Github, or other professional) profile links provided, and do they show involvement in the project and relevant previous experience? For reviewers (not for tooltip): If the team is quite large, C-level and certain key team members (such as lead tech/blockchain developers) should be looked at, while other than that, a sample is fine (but this should be mentioned or reflected in the language ["It appears as though..."]).

3.0
N/A
3 - Minimally sufficient.
Relevance of Team's Previous Experience and Skill Set

How relevant are the team members' backgrounds and experience to the project and its requirements? Do they come from related industries and have in-depth knowledge of their respective fields?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance (biz / tech / blockchain)

Do the team members' backgrounds and experience appear to collectively cover the project requirements? This includes but is not limited to blockchain expertise.

2.0
N/A
2 - Somewhat skewed.
Strategic Partnerships

What kind of launch partners and early adopters does the project have?

1.0
N/A
1 - None really.

Company and Team

Company Stage and Foundation: Based on the roadmap presented on the company’s onepager, the project has “”raised funds from 12 angels”” in 2015. The company LinkedIn page states that Unboxed is a privately-held company founded in 2014 and are based in Kaunas, Lithuania.

Team Assembly and Commitment: The core team of 16 individuals and 8 advisors are presented on the project website. The organization also presents the team structure as follows: Tadas Deksnys | CEO & FOUNDER Vilius Vaičiulis | SOFTWARE DEVELOPER Ieva Mackevičiūtė | MARKETING SPECIALIST Donatas Smailys | CBDO Augustinas Tarabilda| BUSINESS DEVELOPER Theodosis Mourouzis, PhD | BLOCKCHAIN Dovydas Reinikevičius | CMO Justina Valytė | SENIOR ACCOUNT MANAGER Andrius Gelžinis | JUNIOR BUSINESS DEVELOPER Vėjūnė Krašinskienė | MARKETING SPECIALIST Elena Vėgėlytė | LAWYER Vytenis Narušis | CTO Andrius Pocius | UI/UX Jonas Smailys | SALES DEVELOPMENT REPRESENTATIVE Lauryna Tamošiūnaitė | SENIOR ACCOUNT MANAGER Miglė Rastauskaitė | MARKETING SPECIALIST Juergen Brock | ADVISOR Daniel Tawiah | ADVISOR Cristobal Alonso | ADVISOR Paul Scott | ADVISOR Tadas Langaitis | ADVISOR Juan Otero | ADVISOR Tomas Ramanauskas | ADVISOR Arnoldas Rogoznyj | ADVISOR Most core team members show their involvement with the project on their LinkedIn page. There are three individuals (Theodosis Mourouzis, Elena Vėgėlytė, Andrius Pocius) neglect to show their involvement with the project at the time of review (Aug 2018).

Background of Lead/Core Team Members: LinkedIn profiles for all core team members are provided on the project website. When assessing the profiles of the core team members, there are variable levels of information presented: some simply list job/organization titles, while others present information regarding their roles and responsibilities. GitHub links are not provided for those with technical positions.

Relevance of Team’s Previous Experience and Skill Set: The CEO/Founder (Tadas Deksnys) previously founded a social network and marketplace for pet owners. The team has prior experience developing the product, prior to the organization’s plans to integrate blockchain technology and having a token sale. Thus from a business development standpoint, the team is well-suited to utilize their experience with growing the platform, but from a technological standpoint the team will most likely need additional resources to accomplish their goals.

Team Skill Set Balance (biz / tech / blockchain): There is a lack of individuals with experience regarding blockchain technology development experience. The only individual with a specific role aligned with blockchain (Theodosis Mourouzis) does not disclose their involvement with the project on their LinkedIn page.

Strategic Partnerships: There are a number of notable brands with large user bases that already use the Unboxed platform including Nestle, Mars, Philips, and Microsoft. However the level of involvement of direct partnerships/launch partners of the platform are not clearly presented.

Company and Team Documentation

Token Economics

2.8
Token Economics
Value Proposition of Token

How much of a need is there for the token? What is the token's utility value, and what is its value as a security?

3.0
N/A
3 - Limited or uncertain; some risk with regard to actual value, but issuing a custom token is justifiable.
Token Economy

How well defined and sustainable is the token economy? This should include circulation, fees, earn/spend mechanisms, inflation/deflation mechanisms, etc.

2.0
N/A
2 - Loosely defined, uncertain or faulty, raises cause for concern.
System Decentralization (besides token)

How decentralized is the solution other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)? The purpose here is not to penalize use of centralized components per se, but to assess how decentralization is incorporated.

3.0
N/A
3 - Hybrid; use of decentralized / centralized components is broadly justified; decentralization not a core aspect.
Fundraising Goals (Min/Max Raise Amounts)

How sensible are the project's min/max raise amounts or soft/hard caps? (Related to Use of Proceeds but broader).

3.0
N/A
3 - Justifiable.
Use of Proceeds (Fund Allocation)

How well-defined and sensible is the planned use of proceeds / fund allocation?

3.0
N/A
3 - Rough estimates, but looks okay.
Token Allocation

How well-defined and reasonable is the token allocation (including vesting, what's done with unsold tokens, etc.)?

3.0
N/A
3 - Sufficient company/community interest balance.

Token Economics

Value Proposition of Token: NBOX tokens will be used to launch marketing campaigns, reward users, and to access premium services (such as campaign prioritization and access to higher-ranked Marketing Experts and Unboxers).

Token Economy: Total supply: 750,000,000

The token economics is not thoroughly discussed. It is stated that microtransactions will allow those that engage with content to earn NBOX tokens. The flow of tokens between those that engage with content, Market Experts, Oracles, Unboxers, and the organization is not clearly described. Fee structures are not outlined.

System Decentralization (besides token): The platform will utilize a ranking system for “Unboxed members at every stage of the process (Unboxers, Marketing Experts, Targeted Audience)”. The metrics which will be used to describe how users are ranked are discussed. It is stated that a network of trust data providers will be used and a consensus-based decision making will be utilized. Oracles will rank social media users based on the consumer profiles and verify the posts of Unboxers. However, the details of implementation lack specificity. Oracle services are listed in the pitch deck as follows: profile trust ranking and match-making, content validation and ranking, performance check, audience surveys and reward distribution. Each of these systems are not discussed in further much detail.

Fundraising Goals (Min/Max Raise Amounts): Soft cap: $1.5MM
Hard cap: $15MM

The use of proceeds is and the the majority of the funds seem to be allocated to hiring more team members. More details are provided in the whitepaper.

Use of Proceeds (Fund Allocation): The use of proceeds is presented in the whitepaper as follows:

40%- Technology development
40% – Marketing and customer acquisition
15% – Operations
5% – Crowdsale campaign

Each funding allocation is accompanied with a brief description (2-3 bullet points) that gives further details with regards to how funds will be used. Quantitative details are also included. For example, a portion of the funds used for technology development will be used to hire “40 engineers (front-end, back-end, AI, big data, blockchain) and product managers”.

Token Allocation: The token allocation is presented as follows:

51% – Tokens public
19% – Team, Advisors & Partners (locked 1y)
15% – Reserve fund for future financing (locked 1y)
10% – Customer and Marketing Experts acquisition
5% – Airdrop and referral program

It is uncertain whether unsold tokens will be burned.

 

Documentation

Comprehensiveness: The whitepaper, a onepager, and a business pitch-deck can be found through the project website. Additionally, the website also contains case studies for agencies that have used the product. Business-related content mostly pertains to market research and growth strategies as opposed to token economics. The company GitHub page is not provided and there is minimal legal content that can be found on the company website and whitepaper.

Readability: The whitepaper is simple to read and is visually appealing.

Transparency: The whitepaper does not seem deliberately obfuscated. However, the current stage of development with respect to blockchain integration is not adequately discussed. The organization does not provide public access to the project GitHub page.

Presentation of Business Plan and Token Model: Market research is presented towards the end of the whitepaper. The organization’s growth strategy is also outlined. Revenue growth projections are also included towards the end of the document. It is stated that Unboxed “takes a small percentage from Businesses and Unboxers”. However, the fee structure is not discussed thoroughly. Agencies and brands are also able to pay for premium services which include campaign prioritization and access to higher-ranked Marketing Experts and Unboxers. Details regarding the token model is somewhat lacking.

Presentation of Platform Technology and Use of Blockchain: The use of blockchain technology is only briefly discussed. In the whitepaper it is stated that blockchain technology allows microtransactions which “can reward not only Marketing Experts and Unboxers, but any social media users who engaged with the content”. There is a specific section in the whitepaper which describes why and how the organization will use blockchain technology with their existing product. However, the discussion is presented at a basic level. The consideration of using Ethereum is broadly discussed and an assessment of alternative blockchain solutions is not included. It is simply stated that the organization “may consider using alternative solutions to the Ethereum blockchain in the future”. Specific technical content is essentially nonexistent. The organization does not present their GitHub page but claims that the current product has “over 40,000 lines of code, hundreds of iterations, and product pivots”.

Legal Review and Risk Assessment: Legal content is essentially nonexistent in the whitepaper.

 

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

2.0
N/A
2 - Very limited information.
Readability

How easy is it to read and understand the documentation, comprehend the project's goals and trajectory.

4.0
N/A
4 - Relatively easy to read and understand, even if complex.
Transparency

Level of disclosure of pertinent information regarding the company and the project, including current stages of development, issues that have been identified and how to address them, potential problems, access to resources and repositories (github repository, patent applications). Honesty with regard to what the project can (vs. wishes to) achieve.

3.0
N/A
3 - Basically honest, but hyped up or potentially misleading.
Presentation of Business Plan and Token Model

What stages are to be achieved, how are they to be carried out and according to what timeline, what is the long-term plan. How well thought-out is the token model and how well does it fit into the company's overall business model.

3.0
N/A
3 - More information required. Discussion is based on unverified assumptions, business and token models are are not fully laid out, or some key issues remain unaddressed.
Presentation of Platform Technology and Use of Blockchain

What are the platform's core and additional features, how are they to be implemented and according to what timeline, what is the long-term plan. How well thought-out is the use of blockchain technology and how integral is it to the platform.

2.0
N/A
2 - Missing critical information; discussion is brief or very basic, does not address the underlying issues.
Legal Review and Risk Assessment

How professional are the disclaimers, risk assessments, terms and conditions, etc. Is the company working with respectable law/accounting firms? What about due diligence and smart contract auditing? Is a SAFT structure being used (and is the SAFT accessible)?

1.0
N/A
1 - None available.
Documentation Score:
2.5

Product

Differentiation: Unboxed differentiates itself from most projects by already having a working product and a client-base that is already using the product and generating revenue. The platform allows social media users, even those with smaller followings, to earn NBOX tokens. Furthermore, the organization plans to use microtransactions in order to reward those that engage with sponsored social media content.

Readiness: Users are currently able to leverage influencers and start a campaign at https://www.unboxed.social/. However, blockchain integration with the existing platform has yet to accomplished. The current product is stated to be “utilized by over 100+ brands globally (spanning the US, Canada, the United Kingdom, Germany, Denmark, Norway and the Baltics)”.

Concreteness of Development Plans: The roadmap is presented in the whitepaper as follows:
2015
– Graduated from enterprise focused Alchemist Accelerator
– Raised funds from 12 angel investors
2016
– Launched an MVP
2017
– Launched Unboxed platform
– Brands like Philips, Huawei, Nestle, Mars chose Unboxed as a trusted partner
– Started to build network of Marketing Experts
2018
– Launching network of Marketing Experts
– Introducing tokens
– Starting global expansion to 100+ countries

The milestones outlined in the whitepaper lack technologically-focused milestones. Blockchain integration with the platform is only represented with a single milestone.

Current Position within Roadmap: The organization has developed a working product with a user base of “over 100 brands” and “over 40K active members”. Blockchain integration has yet to be achieved but the core product exists, is functional, has a user base, and is generating revenue.

Feasiblity: The implementation of blockchain technology in the context of the project seems fairly simplistic. However, there is seemingly a lack of commitment with regards to blockchain integration which is exemplified by the roadmap (with a single milestone dedicated to describing blockchain technology development), as well as the lack of details regarding the use of blockchain technology in the whitepaper.

Blockchain Innovation: There is a lack of discussion regarding blockchain technology. TThe platform does not seem to bring forth innovation from a blockchain perspective.

 

Category Breakdown
Differentiation

What are the product's unique features / attributes / advantages? How is it different from other, similar products or projects? What makes it stand out or gives it an edge?

3.0
N/A
3 - Some; has a certain edge or angle.
Readiness

Readiness of the full platform, including blockchain/smart-contract/token infrastructure; based on what's publicly available (not just claims).

3.0
N/A
3 - Prototype / MVP / alpha of full product; Traditional platform exists, blockchain integration still in conceptualization.
Concreteness of Development Plans

How detailed is the roadmap? How well defined is the timeframe? How concrete and detailed are the milestones and how well are they correlated with the business and technology development plans, as well as with funding goals (i.e., fundraising dependent)?

2.0
N/A
2 - Vague and noncommittal, few milestones with few details provided.
Current Position within Roadmap

How far along is the project as a whole relative to the plans and roadmap (including growth, not just platform development)?

3.0
N/A
3 - Getting there.
Feasiblity

Are the project's development plans reasonable? Does the long term vision align with core objectives and current development efforts? Does the timeframe make sense?

2.0
N/A
2 - Very ambitious.
Blockchain Innovation

What is the level of innovation and development particularly with regard to blockchain technology and its utilization? Do the project's blockchain-related developments have value beyond the company's particular platform or network?

1.0
N/A
1 - None; simple, basic Ethereum based token (ERC20 with minimal smart contract functionality).
Product Score:
2.3

Market

Target User Base: The target demographic for the platform are major social media influencers, micro-influencers, as well as brands and advertising agencies.

Market Penetration Potential: There are a number of platforms that aim to leverage social media influencers for advertising purposes. With the use of their existing platform, Unboxed will require a good strategy in order to penetrate th blockchain-powered influencer advertising market, especially with regards to their strategy regarding token economics and blockchain development.

Direct Competition: There are numerous advertisement platforms that aim to utilize blockchain technology. Competitors are briefly discussed in the whitepaper and outlined as follows:

– Indahash
– Izea
– Linqia
– RhythmOne
– Takumi
– TapInfluence
– Traackr
– ExpertVoice
– Upfluence

Solution Advantage: Compared to other advertising platforms that allow social media influencers to monetize their following, Unboxed focuses on catering to micro-influencers which have smaller followings, but still have potential for successful marketing campaigns by having fairly high levels of engagement, as shown in the market research section of the whitepaper.

Blockchain Disruption: Blockchain integration is not adequately discussed. As a result, the level of disruption brought forth by the introduction of blockchain technology to the advertisement sector, more specifically influencer marketing, is uncertain. The most interesting advantage made possible by the tokenization of the platform is the ability for those that engage with social media posts to earn NBOX tokens.

Long-Term Vision: The development of the platform over the next 4 years (2018-2022) is summarized as follows:
– build a team of 125 professionals
– launch the Unboxed Network in 100+ countries
– reach $21.8 million in annual revenue (or $175,000 USD per employee) with a stable 2x annual growth rate in revenue
– break-even by 2021

The organization outlines specific and quantitative goals for platform development.

 

Category Breakdown
Target User Base

How big is the project's target user base, how large is its potential market?

3.0
N/A
3 - Has growth potential.
Market Penetration Potential

How easy or difficult will it be to penetrate this market sector on the scale proposed by the project? How dominant is the hold of current market leaders, and are they maintaining a competitive edge? For reviewers (not for tooltip): This should be generally with regard to both traditional and emerging blockchain solutions (assuming that in most sectors, there are no leading blockchain solutions as of yet, but there may start to be). Also, token regulatory issues that apply equally to all should not be stressed here, unless the project has an extra regulatory issue, or (in the other direction) if the regulatory measures taken help it considerably with market penetration...

2.0
N/A
2 - Somewhat difficult or unlikely.
Direct Competition

How many direct competitors does the project have (that are already known or can be easily found with a simple search), and how much further along are they? This should focus on blockchain-related competition but can include established or notable traditional (non-blockchain) competitors with a strong hold.

2.0
N/A
2 - Quite a few / somewhat better competitors (e.g., 7-10, some further ahead). Blockchain solutions are trendy in the sector.
Solution Advantage

How strong is the project's unique selling proposition (i.e., its stated advantage over similar or comparable ones)?

3.0
N/A
3 - Moderate.
Blockchain Disruption

How strong is the potential for disruption of the market sector due to the introduction of blockchain technology, as it is utilized by the solution?

2.0
N/A
2 - Unexceptional / weak.
Long-Term Vision

What are the long term goals and plans of the project? (In terms of concrete plans, not just hype or vague assertions.)

2.0
N/A
2 - Monetization and network growth, increasing engagement. Project with somewhat limited scope or questionable viability.
Market Score:
2.3

Company and Team

Company Stage and Foundation: Based on the roadmap presented on the company’s onepager, the project has “”raised funds from 12 angels”” in 2015. The company LinkedIn page states that Unboxed is a privately-held company founded in 2014 and are based in Kaunas, Lithuania.

Team Assembly and Commitment: The core team of 16 individuals and 8 advisors are presented on the project website. The organization also presents the team structure as follows: Tadas Deksnys | CEO & FOUNDER Vilius Vaičiulis | SOFTWARE DEVELOPER Ieva Mackevičiūtė | MARKETING SPECIALIST Donatas Smailys | CBDO Augustinas Tarabilda| BUSINESS DEVELOPER Theodosis Mourouzis, PhD | BLOCKCHAIN Dovydas Reinikevičius | CMO Justina Valytė | SENIOR ACCOUNT MANAGER Andrius Gelžinis | JUNIOR BUSINESS DEVELOPER Vėjūnė Krašinskienė | MARKETING SPECIALIST Elena Vėgėlytė | LAWYER Vytenis Narušis | CTO Andrius Pocius | UI/UX Jonas Smailys | SALES DEVELOPMENT REPRESENTATIVE Lauryna Tamošiūnaitė | SENIOR ACCOUNT MANAGER Miglė Rastauskaitė | MARKETING SPECIALIST Juergen Brock | ADVISOR Daniel Tawiah | ADVISOR Cristobal Alonso | ADVISOR Paul Scott | ADVISOR Tadas Langaitis | ADVISOR Juan Otero | ADVISOR Tomas Ramanauskas | ADVISOR Arnoldas Rogoznyj | ADVISOR Most core team members show their involvement with the project on their LinkedIn page. There are three individuals (Theodosis Mourouzis, Elena Vėgėlytė, Andrius Pocius) neglect to show their involvement with the project at the time of review (Aug 2018).

Background of Lead/Core Team Members: LinkedIn profiles for all core team members are provided on the project website. When assessing the profiles of the core team members, there are variable levels of information presented: some simply list job/organization titles, while others present information regarding their roles and responsibilities. GitHub links are not provided for those with technical positions.

Relevance of Team’s Previous Experience and Skill Set: The CEO/Founder (Tadas Deksnys) previously founded a social network and marketplace for pet owners. The team has prior experience developing the product, prior to the organization’s plans to integrate blockchain technology and having a token sale. Thus from a business development standpoint, the team is well-suited to utilize their experience with growing the platform, but from a technological standpoint the team will most likely need additional resources to accomplish their goals.

Team Skill Set Balance (biz / tech / blockchain): There is a lack of individuals with experience regarding blockchain technology development experience. The only individual with a specific role aligned with blockchain (Theodosis Mourouzis) does not disclose their involvement with the project on their LinkedIn page.

Strategic Partnerships: There are a number of notable brands with large user bases that already use the Unboxed platform including Nestle, Mars, Philips, and Microsoft. However the level of involvement of direct partnerships/launch partners of the platform are not clearly presented.

Category Breakdown
Company Stage and Foundation

When was the company founded, how mature is it? Has it raised significant funds? Where relevant, this should address the parent company. For reviewers (not for tooltip): Check company LinkedIn and Crunchbase profiles. Impression summary should list basic information such as founding date, location/s, previous fundraising rounds (via crunchbase), maybe number of employees (via linkedin).

4.0
N/A
4 - Established with some fundraising history (at least one notable previous investment round).
Team Assembly and Commitment

What is the structure of the team (core members, advisers, contributors)? Are all necessary positions filled or is the company still looking for key team participants? Are the team members fully committed to the project (or involved with other projects simultaneously)?

3.0
N/A
3 - Mostly assembled and committed.
Background of Lead/Core Team Members

Are LinkedIn (or Github, or other professional) profile links provided, and do they show involvement in the project and relevant previous experience? For reviewers (not for tooltip): If the team is quite large, C-level and certain key team members (such as lead tech/blockchain developers) should be looked at, while other than that, a sample is fine (but this should be mentioned or reflected in the language ["It appears as though..."]).

3.0
N/A
3 - Minimally sufficient.
Relevance of Team's Previous Experience and Skill Set

How relevant are the team members' backgrounds and experience to the project and its requirements? Do they come from related industries and have in-depth knowledge of their respective fields?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance (biz / tech / blockchain)

Do the team members' backgrounds and experience appear to collectively cover the project requirements? This includes but is not limited to blockchain expertise.

2.0
N/A
2 - Somewhat skewed.
Strategic Partnerships

What kind of launch partners and early adopters does the project have?

1.0
N/A
1 - None really.
Company and Team Score:
2.7

Token Economics

Value Proposition of Token: NBOX tokens will be used to launch marketing campaigns, reward users, and to access premium services (such as campaign prioritization and access to higher-ranked Marketing Experts and Unboxers).

Token Economy: Total supply: 750,000,000

The token economics is not thoroughly discussed. It is stated that microtransactions will allow those that engage with content to earn NBOX tokens. The flow of tokens between those that engage with content, Market Experts, Oracles, Unboxers, and the organization is not clearly described. Fee structures are not outlined.

System Decentralization (besides token): The platform will utilize a ranking system for “Unboxed members at every stage of the process (Unboxers, Marketing Experts, Targeted Audience)”. The metrics which will be used to describe how users are ranked are discussed. It is stated that a network of trust data providers will be used and a consensus-based decision making will be utilized. Oracles will rank social media users based on the consumer profiles and verify the posts of Unboxers. However, the details of implementation lack specificity. Oracle services are listed in the pitch deck as follows: profile trust ranking and match-making, content validation and ranking, performance check, audience surveys and reward distribution. Each of these systems are not discussed in further much detail.

Fundraising Goals (Min/Max Raise Amounts): Soft cap: $1.5MM
Hard cap: $15MM

The use of proceeds is and the the majority of the funds seem to be allocated to hiring more team members. More details are provided in the whitepaper.

Use of Proceeds (Fund Allocation): The use of proceeds is presented in the whitepaper as follows:

40%- Technology development
40% – Marketing and customer acquisition
15% – Operations
5% – Crowdsale campaign

Each funding allocation is accompanied with a brief description (2-3 bullet points) that gives further details with regards to how funds will be used. Quantitative details are also included. For example, a portion of the funds used for technology development will be used to hire “40 engineers (front-end, back-end, AI, big data, blockchain) and product managers”.

Token Allocation: The token allocation is presented as follows:

51% – Tokens public
19% – Team, Advisors & Partners (locked 1y)
15% – Reserve fund for future financing (locked 1y)
10% – Customer and Marketing Experts acquisition
5% – Airdrop and referral program

It is uncertain whether unsold tokens will be burned.

 

Category Breakdown
Value Proposition of Token

How much of a need is there for the token? What is the token's utility value, and what is its value as a security?

3.0
N/A
3 - Limited or uncertain; some risk with regard to actual value, but issuing a custom token is justifiable.
Token Economy

How well defined and sustainable is the token economy? This should include circulation, fees, earn/spend mechanisms, inflation/deflation mechanisms, etc.

2.0
N/A
2 - Loosely defined, uncertain or faulty, raises cause for concern.
System Decentralization (besides token)

How decentralized is the solution other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)? The purpose here is not to penalize use of centralized components per se, but to assess how decentralization is incorporated.

3.0
N/A
3 - Hybrid; use of decentralized / centralized components is broadly justified; decentralization not a core aspect.
Fundraising Goals (Min/Max Raise Amounts)

How sensible are the project's min/max raise amounts or soft/hard caps? (Related to Use of Proceeds but broader).

3.0
N/A
3 - Justifiable.
Use of Proceeds (Fund Allocation)

How well-defined and sensible is the planned use of proceeds / fund allocation?

3.0
N/A
3 - Rough estimates, but looks okay.
Token Allocation

How well-defined and reasonable is the token allocation (including vesting, what's done with unsold tokens, etc.)?

3.0
N/A
3 - Sufficient company/community interest balance.
Token Economics Score:
2.8

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