MeVu ICO review
MeVu (mevu.bet) is a blockchain platform that allows you to bet on the outcome of any event, from a major football match to an amateur competition between friends. Blockchain application in betting, gambling and bookmaking is quite logical, and MeVu is not the first project offering smart-contracts-based wagers. How interesting is the MeVu’s solution, and what are project’s chances to cope with competition, to raise enough money on ICO and continue to develop?
MeVu concept and blockchain-betting
The concept of MeVu is quite simple, compared to other blockchain projects. Two players bet on a certain amount with certain conditions. Then goes a smart-contract creation, and the data record on the blockchain. After the event is over, the oracles (referees) check the result. If they come to a consensus, the wager’s result is considered fixed. And the prize goes to one of the participants. Oracles receive a small fee for their services. Sounds like another way to earn cash aside from making money with bitcoin.
All transactions are concluded in MVU token, it is MeVu internal payment instrument. The platform itself will work as a simple application, they won’t develop special exchange or ecosystem.
MeVu – not the first blockchain project that allows to make bets using smart-contracts. Eristica start-up – a global decentralized platform for betting based on smart contracts – has finished it’s ICO recently. The project raised almost $ 4 million, and now it continues to develop. Such competition can create additional difficulties for MeVu, which has yet to attract a certain amount of money on the token sale to continue development.
The MeVu ICO project’s team
MeVu developers are:
- Kelvin Coelho, Co-Founder and Project Lead. He has a financial education, since 2013 he worked as a consultant at National Bank of Canada, Sun Life Financial and Scotiabank. Has a well developed profile in LinkedIn. MeVu is Kelvin’s first own project.
- Tim McCulloch, Co-Founder and Technical Lead. He graduated from the University of Waterloo in 2016, worked as a software and applications developer for 2 years. Has 37 contacts on LinkedIn.
The site presents names and photos of only four team members, but more than a dozen advisors. These include Mike Arsenault, venture investor and business-angel, Nathan Christian, a blockchain expert and consultant to a number of successful ICOs, David Drake, serial entrepreneur and venture investor also advising several ICOs, and blockchain expert Rick Tapia.
A large number of well-known in the crypto community advisors, to some extent compensates for the small team. Especially since they are developing only a simple application that probably doesn’t require many specialists.
ICO prospects and further development plans
The MeVu project successfully held the presale, raising the necessary amount in three weeks. They scheduled ICO for June 11, 2018, and the cap is only a million dollars – quite a modest amount by modern standards.
The team issued MVU token on the Ethereum blockchain utilizing ERC20 standart. They will issue a total of 104,800,000 tokens, and will sell 60 million during the ICO.
In June 2018, simultaneously with the ICO, the launch of the beta version of the application, timed to the FIFA World Cup 2018, is planned. In September, they plan to release a full version. By the end of 2018 they will add casino and enhanced betting possibilities.
Summary of MeVu ICO
There are factors both for and against the MeVu project’s take off and its tokens growth rate. On the one hand, the idea is not new. And at least one competitor has successfully completed the ICO and is operational. In addition, the project itself is quite simple and does not offer any unique features. On the other hand, it requires a relatively small amount to fully implement the platform, and they successfully completed a presale ahead of schedule, which indicates investors’ interest in MeVu.
Most likely, this interest will suffice at least in order to raise the right amount for the ICO and support the token exchange rate in the short term. Then everything will depend on the team and development speed.
The road map promises a full-fledged launch of the platform in September – if it is implemented, MeVu has every chance to beat competitors and become a leader in the market of decentralized bets. This will provide further growth of tokens, and the opportunity to develop the platform and strengthen its leadership.
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