Crafty

The first free platform for autonomous workers based on Blockchain and AI powered.

About Crafty

Crafty aims to be a platform that connects various specialty service providers with their customers, without any centralized intervention or intermediation fees. The application will replace an existing app called Diarissima, which has been in operation for almost two years. Platform tools and services are accessible via both mobile and web, allowing for the offering and contracting of services, inquiries and negotiations, etc., thereby supporting and promoting communication between self-employed professionals from varied specialties and their clients. Crafty’s front end is a P2P electronic catalog of professionals offering their skills and services to interested users. Competitors: CanYa
Non-blockchain Competitors: Angie’s List, TaskRabbit, AirTasker
Uniqueness/Advantages: End goal of AI integration to collect data for user recommendations of services listed on the marketplace.

Token Sale Use of Blockchain

Product

3.0
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.

Product

“Diarissima” has been operational for some time and is being transformed into Crafty. The Crafty platform is scheduled to be launched in Q2 2018 and then to be further developed and enhanced throughout the year (see Roadmap). There is appeal to the Crafty product with regard to its advantages as a blockchain-based craftsmen/services marketplace with a rating system, similar to ‘Angie’s List’ (a US centralized service). The potential or target user-base is large, as the services markets range in the trillions of dollars globally. The competition over time will greatly stiffen as blockchain technology adoption continues, given the amount of capital in the target marketplace.
Competitors: CanYa
Non-blockchain Competitors: Angie’s List, TaskRabbit, AirTasker

Product Whitepaper

Use of Blockchain

2.0
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.

Use of Blockchain

Blockchain development and contribution to the blockchain ecosystem are minor, as Crafty does nothing major to further enhance the capabilities and powers of the blockchain ecosystem, but merely seeks to use them in their present form. There is some potential for disruptive advantage as the craftsmen/services market is worth trillions of dollars globally, and conversion to a blockchain system could disrupt traditional or legacy systems. There is some need for a custom token as the platform intends to use the token for payment settlement, reputation score-keeping, and network participation rewards, however it is possible to write smart contracts and offer this same functionality with ETH. The system will utilize blockchain record-keeping and transactions, but the platform development will remain centralized.

Use of Blockchain Roadmap

Whitepaper

3.0
Whitepaper
Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.

Whitepaper

The whitepaper is choppy and seems to be a direct Portuguese-to-English translation, making it difficult to fully understand at times, as it is littered with many grammatical errors throughout. The whitepaper is about 35 pages long with a little graphics, and covers the history of the company, the marketplace, problem, and Crafty solution, with explanations of its business and technology plans. The whitepaper discusses the product and roadmap, token value, and legal aspects as well, and provides references to external sources of information via footnotes.

Whitepaper Compliance

Roadmap

2.4
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

The vision is set with regard to the progress and release of the public platform, however many critical obstacles lie ahead. The roadmap states major milestones given on a quarterly basis; the milestones are very vague or unclear and contain no explanation of the steps required for their completion.
Q2 2018 – Crafty Launching
Q3 2018 – Registering CFTY in platform
Q4 2018 – Services to “unbancarized” people
Q1 2019 – Recommendation made by AI
Q2 2019 – Crafty Personal Assistant
Q3/4 2019 – Recommendation based on spatial information and learning value chain in platform.

Roadmap Company and Team

Compliance

2.4
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)

Compliance

The CFTY-token has intrinsic value through its planned usage on the Crafty platform to settle transactions, fuel the rating system, and reward network participation. The token’s main utility is as a tradable financial instrument, as it is used specifically for payments. The token smart-contract infrastructure is not yet ready. A MVP is currently publicly available as the Diarissima app. The Crafty team pays attention to compliance with a direct statement of AML & KYC Due Diligence and enforces this with a registration process and manual screening of all platform registrants. The legal review aims to absolve the company of any liability regarding the ICO sale and any problems that may occur, and provides a general statment that the token is not to be deemed a security.

Compliance Token Sale

Company and Team

1.8
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

2.0
N/A
2 - Fragmented or inconclusive.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

1.0
N/A
1 - Haphazard or uncommitted.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

1.0
N/A
1 - Severely skewed.

Company and Team

Crafty has an established team with 8 employees and 5 advisors. The core team has experience in computer networks, finance, full-stack architecture/development, and law. The advisors have backgrounds in software engineering, AI computer software, investing, social organizations, and mathematical models/algorithms. Team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information on work experience and some profiles are strictly in Spanish. No member of the team is fully dedicated to the project, some are dedicated to multiple projects outside of Crafty. The core team is also the core team for “Diarissima”, which has received poor reviews in the app stores. No core team member has previous experience with blockchain, crypto-currency, or smart contract projects. Only one advisor has minimal experience with a previous crypto-currency project.
Positives: The core team has software and app development experience.
Negatives: There are no blockchain developers on the team and no shown interest in adding any. No member of the core team has previous experience with cryptocurrency, blockchain, or smart-contracts projects and no member is fully dedicated to the project – even the CEO is committed to three other projects outside of Crafty.

Company and Team Product

Token Sale

1.8
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.

Token Sale

Volume: 10,000,000,000 CFTY (Finite amount of CFTY created).
• Tokens on ICO sale: 5,000,000,000 (50%)
• Hardcap: 35,000,000 USD
* Token Rate:
1 CFTY = 0.0000068 ETH
1 ETH = 147,142 CFTY

Token Distribution
– 50% Crowdsale
– 30% Reserve Fund
– 20% Bounties/ Promotions/ Advisors/ Founders
*Tokens unavailable for withdrawal for 6 months via smart contract, after the end of ICO.
**Tokens destined for crowdsale that are not sold will be reverted to the reserve fund after the end of ICO.
**Intentions of use of Reserve funds not described

Social Media Presence & Following
Very little community engagement and reception.

Product

“Diarissima” has been operational for some time and is being transformed into Crafty. The Crafty platform is scheduled to be launched in Q2 2018 and then to be further developed and enhanced throughout the year (see Roadmap). There is appeal to the Crafty product with regard to its advantages as a blockchain-based craftsmen/services marketplace with a rating system, similar to ‘Angie’s List’ (a US centralized service). The potential or target user-base is large, as the services markets range in the trillions of dollars globally. The competition over time will greatly stiffen as blockchain technology adoption continues, given the amount of capital in the target marketplace.
Competitors: CanYa
Non-blockchain Competitors: Angie’s List, TaskRabbit, AirTasker

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
3.0

Use of Blockchain

Blockchain development and contribution to the blockchain ecosystem are minor, as Crafty does nothing major to further enhance the capabilities and powers of the blockchain ecosystem, but merely seeks to use them in their present form. There is some potential for disruptive advantage as the craftsmen/services market is worth trillions of dollars globally, and conversion to a blockchain system could disrupt traditional or legacy systems. There is some need for a custom token as the platform intends to use the token for payment settlement, reputation score-keeping, and network participation rewards, however it is possible to write smart contracts and offer this same functionality with ETH. The system will utilize blockchain record-keeping and transactions, but the platform development will remain centralized.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
2.0

Whitepaper

The whitepaper is choppy and seems to be a direct Portuguese-to-English translation, making it difficult to fully understand at times, as it is littered with many grammatical errors throughout. The whitepaper is about 35 pages long with a little graphics, and covers the history of the company, the marketplace, problem, and Crafty solution, with explanations of its business and technology plans. The whitepaper discusses the product and roadmap, token value, and legal aspects as well, and provides references to external sources of information via footnotes.

Category Breakdown
Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.
Whitepaper Score:
3.0

Roadmap

The vision is set with regard to the progress and release of the public platform, however many critical obstacles lie ahead. The roadmap states major milestones given on a quarterly basis; the milestones are very vague or unclear and contain no explanation of the steps required for their completion.
Q2 2018 – Crafty Launching
Q3 2018 – Registering CFTY in platform
Q4 2018 – Services to “unbancarized” people
Q1 2019 – Recommendation made by AI
Q2 2019 – Crafty Personal Assistant
Q3/4 2019 – Recommendation based on spatial information and learning value chain in platform.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

2.0
N/A
2 - Very ambitious.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.4

Compliance

The CFTY-token has intrinsic value through its planned usage on the Crafty platform to settle transactions, fuel the rating system, and reward network participation. The token’s main utility is as a tradable financial instrument, as it is used specifically for payments. The token smart-contract infrastructure is not yet ready. A MVP is currently publicly available as the Diarissima app. The Crafty team pays attention to compliance with a direct statement of AML & KYC Due Diligence and enforces this with a registration process and manual screening of all platform registrants. The legal review aims to absolve the company of any liability regarding the ICO sale and any problems that may occur, and provides a general statment that the token is not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)
Compliance Score:
2.4

Company and Team

Crafty has an established team with 8 employees and 5 advisors. The core team has experience in computer networks, finance, full-stack architecture/development, and law. The advisors have backgrounds in software engineering, AI computer software, investing, social organizations, and mathematical models/algorithms. Team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information on work experience and some profiles are strictly in Spanish. No member of the team is fully dedicated to the project, some are dedicated to multiple projects outside of Crafty. The core team is also the core team for “Diarissima”, which has received poor reviews in the app stores. No core team member has previous experience with blockchain, crypto-currency, or smart contract projects. Only one advisor has minimal experience with a previous crypto-currency project.
Positives: The core team has software and app development experience.
Negatives: There are no blockchain developers on the team and no shown interest in adding any. No member of the core team has previous experience with cryptocurrency, blockchain, or smart-contracts projects and no member is fully dedicated to the project – even the CEO is committed to three other projects outside of Crafty.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

2.0
N/A
2 - Fragmented or inconclusive.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

1.0
N/A
1 - Haphazard or uncommitted.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

2.0
N/A
2 - Lacking or inconsistent.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

1.0
N/A
1 - Severely skewed.
Company and Team Score:
1.8

Token Sale

Volume: 10,000,000,000 CFTY (Finite amount of CFTY created).
• Tokens on ICO sale: 5,000,000,000 (50%)
• Hardcap: 35,000,000 USD
* Token Rate:
1 CFTY = 0.0000068 ETH
1 ETH = 147,142 CFTY

Token Distribution
– 50% Crowdsale
– 30% Reserve Fund
– 20% Bounties/ Promotions/ Advisors/ Founders
*Tokens unavailable for withdrawal for 6 months via smart contract, after the end of ICO.
**Tokens destined for crowdsale that are not sold will be reverted to the reserve fund after the end of ICO.
**Intentions of use of Reserve funds not described

Social Media Presence & Following
Very little community engagement and reception.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

2.0
N/A
2 - Minor exposure and interest, or ambivalent reception.
Token Sale Score:
1.8

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