A CryptoStandard Score of 5.6 and a Negative+ outlook are assigned to United Fans (Pre-ICO starts on 31 Mar 2018 and ICO starts on 1 Jun 2018)
Our team believes that the idea of letting sports fan participate in or have an influence on the management of sports clubs is relatively new in the market. However, the market need for this service is in doubt for a few reasons. On one hand, sports clubs, especially those renowned ones owned by investors, are unlikely to give up part of their control and manage the club according to the wills of its fans. On the other hand, it is questionable whether the fans who usually lack relevant experience will be more interested in running a club than watching football games, buying merchandises or betting on the games. Apart from that, the true need for clubs to raise funds from fans is yet to be proven. Therefore, our team believes if United Fans is to succeed, it is likely to be targeting only a small number of potential users, which will impede its future development.
United Fans is a platform that provides fans and sports team’s management with the ability to interact, vote or raise capital, increasing the collaboration and strengthening the community. Its major features include funding expenses for poor families that have talented kids but cannot afford sending them to play football, recruiting ex-professional players to train and educate the young generation and organizing social activities to expand the number of fans and supporters.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
We believe the idea of United Fans is to a certain extent disruptive given its innovative use of blockchain technology to tie together fans and management. However, our team has much reservation about the demand for such a collaborative platform and the the number of world-class football clubs willing to cooperate with them.
Competitiveness
Our team could not identify direct serious competitors to United Fans in the blockchain space, but there are a considerable number of football clubs that are owned by their fans. Despite the lack of direct competition, end users do have other choices such as playing fantasy leagues and getting involved in the club through other means such as betting, buying merchandise or watching their games. United Fan’s low bargaining power with football clubs is likely to cause much difficulty in kickstarting their business.
ICO
Most of the details of the ICO are clearly stated, but the low level of the soft cap raises the question of whether United Fans would be able to continue with its project with such a small amount of capital.
Team
Many of the founding team members cannot be found on social media, leading to our team’s doubt about their actual experience and willingness to engage investors. The suspicion is further exacerbated by the fact that no advisors have declared their connections with the company.
Community
The community is very small with a meagre number of followers on Twitter and just slightly below 2000 followers on Telegram. United Fans has a long way to go when it comes to building its community.
Marketing
Not much marketing has been done so far by the company apart from their presence on Medium. To date, the company’s ICO has not recorded any news or media coverage, which leads to a small number of people being aware of their business and ICO.
Documentation
Most documents usually required in an ICO are available. However, United Fans fails to address the risks of the project and there is some inconsistency between the website and the white paper regarding the details of the ICO.
Financials
United Fans has provided a projection on the revenue based on the number of fans, average spending per fan, the number of football clubs etc. Despite it being an act worth appreciating, the assumption of United Fans being able to capture 100% of the spending of supporters is very much doubtful.
Reliability
No prototype is available for testing. The progression shown on the roadmap is far from satisfactory as it seems United Fans would not release the alpha or beta for testing before the launch of its ICO.
Feasibility
Apart from the doubts on the potential number of users and football clubs cooperating with them, the lengthy roadmap which includes a rather long period from prototyping to the official launch of the app causes extra suspicion from potential investors. It would be extremely critical for United Fans to establish the first formal partnership with a legitimate football club so as to convince potential investors of its ability to carry out the project.
See their profile: https://cryptostandard.io/ico/unitedfans/
@UnitedFans
#cryptostandard #crypto #cryptocurrency #ditigalcurrency #cryptonews #ico #bitcoin #btc #ethereum #eth #ripple #xrp #blockchain #review #reviewpaper #whitepaper #ratings #professional #money #binance #fintech #newcoin #coinmarketcap #initialcoinoffering #icomarketing #coinmarket #coinmarketing