Nuggets

About Nuggets

Nuggets aims to be an e-commerce payments and ID platform with secure storage of personal and payment data. Nuggets’ aim is to create a new, blockchain-enabled platform for making simple e-commerce payments, where users do not have to sacrifice control of their personal data, thus enabling self-sovereign identity on a mass scale. Nuggets will be using zero-knowledge storage with encryption of personal data, along with transaction records on the Ethereum blockchain, thus providing privacy and security as well as immutability and decentralization. Nuggets aims to be a consumer platform for daily use, where users can make trusted transactions with one simple biometric verification. These transactions go beyond payments to include secure login, ID verification, courier deliveries, and more.
Competitors: CIVIC, PivX, Atencoin, BlockAuth, Cambridge Blockchain, CredyCo,ExistenceID, HYPR, OIX, KYC-Chain, Netki, UniquID, uPOrt
Uniqueness/Advantages to competition: Little to none.

Token Sale Use of Blockchain

Product

2.6
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?

3.0
N/A
3 - Has growth potential.
Competition

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

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

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

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

Product

Nuggets is meant to be a service for e-commerce payments and ID verification. There is currently an alpha platform however it does not appear to be available to the public for testing and there is no publicly accessible github. The mobile applications, beta dev/testing and full platform launch is planned for after the ICO (see Roadmap).
There is appeal to the platform as there is increasing demand for ID verification services, specifically ones that securely manage users’ personal data. The target user base includes anyone with the need to use digital ID verification services and is therefore large, with room to grow along with business developments. There is a large amount of legacy competition in this space, with some decent competitors in the blockchain space as well.
Competitors: CIVIC, PivX, Atencoin, BlockAuth, Cambridge Blockchain, CredyCo,ExistenceID, HYPR, OIX, KYC-Chain, Netki, UniquID, uPort

Product Whitepaper

Use of Blockchain

2.6
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.)?

4.0
N/A
4 - Mostly decentralized.
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

Nuggets’ contribution to blockchain development is in creating a new decentralized service for ID verification and e-commerce payment transactions using the Ethereum blockchain. (Data storage will initially be hosted “in a private / consortium / sidechain / channel”, but Nuggets will look to adopt improved scalability solutions (such as Polkadot, Raiden channels or sharding) and IPFS may be used alongside Ethereum at a later stage for larger data / document storage.) The project’s primary disruptive advantage is in creating a ID verification service that is powered and secured by the transparency of blockchain technology. The need for a custom token is in allowing users to gain access to the platform such as to utilize the ID verification and e-commerce payment services. The contribution to the blockchain ecosystem is in developing a new blockchain-based ID verification and e-commerce payment services platform.

Use of Blockchain Roadmap

Whitepaper

3.8
Whitepaper
Comprehensiveness

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

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
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?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

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

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

The whitepaper is professional and informative and provides a balanced mixture of media and textual explanation. The whitepaper is 32 pages in length, provides high level information, and is easy to read and understand. The whitepaper includes the following sections: Introduction, Nuggets Enables People to Take Back Control of Their Data, Solving the Privacy Crisis, Our Vision: Take back Control of Your Data, How Nuggets Works, Technology, Token Ecosystem, Launch Strategy/Audiences, Token Sale Funding, Development Roadmap, and the Team. The business and technology plans behind Nuggets are detailed and concisely explained including detailed textual and graphical explanations.

Whitepaper Compliance

Roadmap

2.8
Roadmap
Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

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

3.0
N/A
3 - Optimistic.
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

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as deployment of final platform will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Key Development Milestones:
2016 Q1 Research
2016 Q2 Team
2016 Q3 PoC
2017 Q1 FCA Sandbox
2017 Q2 Testing PoC in FCA Sandbox with Consumers
2017 Q4 Agreeing Commercials with Partners
2018 Q1 Launch Nuggets Alpha
2018 Q3 Continue rollout of Log-in and Payment ot Key Markets
2019 Q1 Rollout Verified ID Customer Services
2019 Q2 Rollout NFC
2020 Q1 Rollout Virtual Credit

Roadmap Company and Team

Compliance

3.2
Compliance
Token Utility (value through usage)

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

3.0
N/A
3 - Limited or uncertain use cases.
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?

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

4.0
N/A
4 - Professional.

Compliance

The main use of the tokens is for using the Nuggets network to verify ID and to settle e-commerce payments. The token smart-contract code is not posted for review and there is no publicly accessible github repo. There is a claim that an alpha platform is complete, however it does not appear to be released to the public.
The whitepaper and website contain a disclaimer and a discussion of risk factors, and KYC is enforced with a registration process which is conducted via TokenHub and allows for connection of Facebook or Google+ accounts. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The pre-sale token purchase agreement aims to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security and will comply with all laws in areas which the platform is offered. Expressly denies participation from residents of Japan and US.

Compliance Token Sale

Company and Team

4.4
Company and Team
Company Stage and Foundation

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

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

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

5.0
N/A
5 - Accomplished, recognized.
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?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

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

5.0
N/A
5 - Meeting and exceeding project requirements.
Team Skill Set Balance

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

5.0
N/A
5 - Excellent, all aspects covered.

Company and Team

Nuggets has an established team with 8 team members and 3 advisors.
The core team has experience in integrated product development, fintech, software development, blockchain development, telecommunication and digital goods, finance, insurance, media, customer experience, advertising and marketing. The core team has previous working experience with: Nike, Unilever, P&G, Honda, KPMG, UBS, Virgin Media, Skype, Microsoft, Mastercard, Applied Blockchain, Xbox, Hololens, Disney, TED and BBC.
The advisors have experience in blockchain project strategic consultation, blockchain technicals, and token sales. The advisors have experience working with OKCoin, Huobi, Power Ledger, Simple Token, CanYa, and AirSwap.
All core team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of Nuggets.
Positives: The core team is well rounded and some members have previous experience in cryptocurrency/blockchain/smart-contract projects. The team’s CTO is the CEO of Applied Blockchain, a blockchain development company.
Negatives: Not all members are fully dedicated to the project.

Company and Team Product

Token Sale

2.6
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?

2.0
N/A
2 - Only loosely related to plans.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

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

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

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

3.0
N/A
3 - Some presence, lukewarm reception.

Token Sale

Nuggets Token (NUG)
Total supply: 10 billion NUG
Token Price: 1 NUG = 0.0086 USD (Pre-sale: 1 NUG = 0.0069 USD)
Hard Cap: $30 Million
Min Cap N/A
*Tokens will be available at a 20% discount in the pre-sale.

Token Allocation
35% Pre-Sale and Public Sale
30% Ecosystem
15% Company (one-year lock up)
15% Team (two-year lock up, and 50% vesting after one year)
05% Legal & Misc

ICO Proceeds Distribution
43% Platform
30% Sales, Marketing & Charity
11% Product & Development
09% Key Staff
05% Legal, Tax & Regulatory
02% Operational Set Up

Social Media Presence & Following
There is some community engagment and reception.

Product

Nuggets is meant to be a service for e-commerce payments and ID verification. There is currently an alpha platform however it does not appear to be available to the public for testing and there is no publicly accessible github. The mobile applications, beta dev/testing and full platform launch is planned for after the ICO (see Roadmap).
There is appeal to the platform as there is increasing demand for ID verification services, specifically ones that securely manage users’ personal data. The target user base includes anyone with the need to use digital ID verification services and is therefore large, with room to grow along with business developments. There is a large amount of legacy competition in this space, with some decent competitors in the blockchain space as well.
Competitors: CIVIC, PivX, Atencoin, BlockAuth, Cambridge Blockchain, CredyCo,ExistenceID, HYPR, OIX, KYC-Chain, Netki, UniquID, uPort

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?

3.0
N/A
3 - Has growth potential.
Competition

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

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

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

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
2.6

Use of Blockchain

Nuggets’ contribution to blockchain development is in creating a new decentralized service for ID verification and e-commerce payment transactions using the Ethereum blockchain. (Data storage will initially be hosted “in a private / consortium / sidechain / channel”, but Nuggets will look to adopt improved scalability solutions (such as Polkadot, Raiden channels or sharding) and IPFS may be used alongside Ethereum at a later stage for larger data / document storage.) The project’s primary disruptive advantage is in creating a ID verification service that is powered and secured by the transparency of blockchain technology. The need for a custom token is in allowing users to gain access to the platform such as to utilize the ID verification and e-commerce payment services. The contribution to the blockchain ecosystem is in developing a new blockchain-based ID verification and e-commerce payment services platform.

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.)?

4.0
N/A
4 - Mostly decentralized.
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:
2.6

Whitepaper

The whitepaper is professional and informative and provides a balanced mixture of media and textual explanation. The whitepaper is 32 pages in length, provides high level information, and is easy to read and understand. The whitepaper includes the following sections: Introduction, Nuggets Enables People to Take Back Control of Their Data, Solving the Privacy Crisis, Our Vision: Take back Control of Your Data, How Nuggets Works, Technology, Token Ecosystem, Launch Strategy/Audiences, Token Sale Funding, Development Roadmap, and the Team. The business and technology plans behind Nuggets are detailed and concisely explained including detailed textual and graphical explanations.

Category Breakdown
Comprehensiveness

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

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
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?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

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

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
3.8

Roadmap

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as deployment of final platform will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Key Development Milestones:
2016 Q1 Research
2016 Q2 Team
2016 Q3 PoC
2017 Q1 FCA Sandbox
2017 Q2 Testing PoC in FCA Sandbox with Consumers
2017 Q4 Agreeing Commercials with Partners
2018 Q1 Launch Nuggets Alpha
2018 Q3 Continue rollout of Log-in and Payment ot Key Markets
2019 Q1 Rollout Verified ID Customer Services
2019 Q2 Rollout NFC
2020 Q1 Rollout Virtual Credit

Category Breakdown
Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

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

3.0
N/A
3 - Optimistic.
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:
2.8

Compliance

The main use of the tokens is for using the Nuggets network to verify ID and to settle e-commerce payments. The token smart-contract code is not posted for review and there is no publicly accessible github repo. There is a claim that an alpha platform is complete, however it does not appear to be released to the public.
The whitepaper and website contain a disclaimer and a discussion of risk factors, and KYC is enforced with a registration process which is conducted via TokenHub and allows for connection of Facebook or Google+ accounts. The legal disclaimer states that the tokens are intended for use as functional utility tokens and and come with no warranties. The pre-sale token purchase agreement aims to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security and will comply with all laws in areas which the platform is offered. Expressly denies participation from residents of Japan and US.

Category Breakdown
Token Utility (value through usage)

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

3.0
N/A
3 - Limited or uncertain use cases.
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?

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

4.0
N/A
4 - Professional.
Compliance Score:
3.2

Company and Team

Nuggets has an established team with 8 team members and 3 advisors.
The core team has experience in integrated product development, fintech, software development, blockchain development, telecommunication and digital goods, finance, insurance, media, customer experience, advertising and marketing. The core team has previous working experience with: Nike, Unilever, P&G, Honda, KPMG, UBS, Virgin Media, Skype, Microsoft, Mastercard, Applied Blockchain, Xbox, Hololens, Disney, TED and BBC.
The advisors have experience in blockchain project strategic consultation, blockchain technicals, and token sales. The advisors have experience working with OKCoin, Huobi, Power Ledger, Simple Token, CanYa, and AirSwap.
All core team members have verifiable work experience credentials via LinkedIn profiles, however some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of Nuggets.
Positives: The core team is well rounded and some members have previous experience in cryptocurrency/blockchain/smart-contract projects. The team’s CTO is the CEO of Applied Blockchain, a blockchain development company.
Negatives: Not all members are fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

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

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

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

5.0
N/A
5 - Accomplished, recognized.
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?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

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

5.0
N/A
5 - Meeting and exceeding project requirements.
Team Skill Set Balance

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

5.0
N/A
5 - Excellent, all aspects covered.
Company and Team Score:
4.4

Token Sale

Nuggets Token (NUG)
Total supply: 10 billion NUG
Token Price: 1 NUG = 0.0086 USD (Pre-sale: 1 NUG = 0.0069 USD)
Hard Cap: $30 Million
Min Cap N/A
*Tokens will be available at a 20% discount in the pre-sale.

Token Allocation
35% Pre-Sale and Public Sale
30% Ecosystem
15% Company (one-year lock up)
15% Team (two-year lock up, and 50% vesting after one year)
05% Legal & Misc

ICO Proceeds Distribution
43% Platform
30% Sales, Marketing & Charity
11% Product & Development
09% Key Staff
05% Legal, Tax & Regulatory
02% Operational Set Up

Social Media Presence & Following
There is some community engagment 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?

2.0
N/A
2 - Only loosely related to plans.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

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

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

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

3.0
N/A
3 - Some presence, lukewarm reception.
Token Sale Score:
2.6

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