Author: Nikolay Dimitrov
Date: 7th of March 2018
Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.
It is 7th of March 2018 today. This review takes into consideration investing in Selfllery (YOU) – ICO at a price of 1000 YOU per ETH Token.
We do not endorse the ICO’s we are writing reports on – we just have a big pile of ICO’s that people have mentioned to us could be worth taking a look at and we are going through them one by one. All shared personal statements are a personal point of view.
Selfllery is intended as a social platform that enables its users to be awarded for the visual content they create and share (photos, videos, streams etc.) This visual content can be bought by other users, companies and news agencies to be used for their own purpose. Advertisers can also use the platform. The project aims to offer a huge user-made pool of photos and videos which will be always available for buying/selling with the YOU token as a currency.
How do I rate an investment in this project at the current price?
The project started around the beginning of 2016 and is currently at Pre-Sale Round C. According to the Roadmap, the project should reach the final stages of its development near the end of 2018. Comparing to other projects, this is a product that will be fully functional in a very small matter of time. The target for after 4 years is 1 Billion users. Currently, their MVP platform (Minimum Viable Product) is at about 28000 uploaded photos, 7500 users and 8000+ comments. So far, they’ve raised 1 500 000 YOU tokens, with the Soft Cap being 10 000 000 YOU and the Hard Cap 55 000 000 YOU. The price of 1000 YOU being 1 ETH. During pre-sale the minimum investment was 10 ETH, and during the main token generation event it is 0.1 ETH. Interestingly the Tokens from pre-tge and the private sell will be locked for some time in an effort to ease the concern of a dump in price once the tokens hit the exchanges, as some do when there are bonuses.
Selfllery is envisioned as a social platform in which users can submit their visual content and be rewarded with YOU tokens for the Likes they receive. Since every single active user contributes to the platform’s development and popularity, everyone will have the chance to win YOU tokens. In addition to that, users and companies will be able to browse the pool of user-submitted photos and buy them or sell their own. Advertisers that choose to invest in the project and buy YOU tokens can use them for targeted advertising by running photo contests and buying user-submitted photos.
An important feature of the platform is the photoquests – an event in which users are tasked with taking a photo of a certain animal or object and are given a limited amount of time. These quests may include more than one task with different levels of complexity. Upon completion of the task, users will be awarded YOU tokens. These photoquests are organized and launched by the Selfllery team.
Selfllery will provide a similar feature for advertisers called Photo Contest. For example, a company or brand owner can launch a photo contest between the users of the platform and specify the winning conditions that would eventually attract attention to the brand. Then users participate in the contest and submit their visual content, which gives them the opportunity to win the contest and also get additional Likes on their photos and get rewarded. The prize pool of such contests will be determined by the number of participants – the more the people, the bigger the prize.
Something else interesting is that the company will donate 10% of its revenue for different causes and every user will have the opportunity to do the same to a lesser or greater degree by choosing this from their profiles. They will receive special badges for that and stand out. The causes can be chosen by the people.
The project aims to create a huge digital marketplace where people, companies, and advertisers can buy and sell photos and other visual content. The project relies heavily on the number of users that choose to register. The bigger the number of users submitting photos and participating in events, the bigger the choice of visual content for advertisers. The best time to get in is at the very beginning, because the rewards for likes will diminish as there is a set amount of YOU tokens that will ever be generated, plus what do you lose except some time for taking photos and uploading, but then again, you gain experience and exposure. Some people are already branding the project as the next big thing and as a potential Instagram killer, but I wouldn’t jump to similar conclusions, at least not yet. Although they have in mind spending 50% of the generated revenue from the Token Generation Event for marketing, this is no guarantee for success. Another 25% will be spent on the development of the platform. I do not know about you but this seems like a good plan as this is a social platform and it needs marketing. In theory, the project should be perfect for advertisers, just because of the sheer amount of photos that they will have access to. But if the project doesn’t have a strong and active user-base, this won’t be possible.
Selfllery’s team is doing a good job of presenting their project as every social platform user’s dream. The main selling point of the project is that it gives its users the chance to win rewards (in the form of cryptocurrency) just by creating and sharing quality visual content. Visual content which in turn can be used by companies, advertisers or news agencies registered on the platform. In theory, a user that creates and shares good visual content will be able to win money without the need of sponsors (unlike any other social platform right now). In the age of smartphones, millions of photos are being taken every day, so this seems like a good idea.
Selfllery uses an internal asset – the YOU token (ERC20 token built on the Etherium blockchain technology). Basically, YOU tokens are the money within the platform – the main currency. It allows purchases in the website’s stock photo gallery and marketplace, as well as buying additional features within the website or donating money to various charities. YOU tokens can also be withdrawn to an Ethereum wallet. When users receive Likes on their content, they are awarded YOU tokens. When buying or selling photos on the website, you do it via YOU tokens.
Website: does it look good/presentable – The Token Generation Event website (the event during which both users and advertisers alike can buy YOU tokens) looks well-structured, presentable and eye-pleasing. All the relevant information is present and easily accessible.
The TGE site – https://tge.selfllery.com
The social platform website looks just fine, it’s not cluttered and it’s easy to navigate. I’m guessing that more work will be done on it with the advancement of the project.
The website – www.selfllery.com
Roadmap – You can find the Roadmap towards the middle of their website.
Whitepaper – The whitepaper is present at the beginning of their website, you can either read it online or download it in a PDF format. It’s very precise and detailed, starts off by describing the surge in smartphone camera users and then proceeds with details about the project. It’s 31 pages long.
How does the cryptocurrency name sound (does it sound legit and like a good brand name) – The Platform name – Selfllery – is not bad. It’s not hard on the tongue and is easy to remember. The token – YOU token – sounds simple and easy. One syllable, nothing too special.
How does the logo look – The design of the logo is actually quite good. It’s an abundantly colorful camera shutter – it reflects the idea behind the project and the purpose of the platform.
Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation –The platform incorporates a deflationary mechanism, according to which the number of Likes required to obtain one YOU token is increased every year relative to volume of users. The Selfllery team will recalculate the distribution rates of the tokens annually. There is a set amount of tokens that will be generated and there will not be more than that. They call their mechanism Proof-of-Like.
Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/GitHub research on them – You can find the whole team and advisers/partners on their website. The CEO and Founder is Vadim Onishchenko. He is a professional photographer and has a decade of experience in the IT field. It’s important to note that he has another photography-related project – Photoliga. It’s a website for sharing and rating photos. It looks active with a healthy user-base. His Twitter account is quite active and he has around 600 followers. He has 500+ connections on LinkedIn. His Facebook page is active as well. A quick google search of his name brings up his social media platforms, and after that the results consist mainly of his wildlife photography.
What is the limit on supply of coins in circulation – 55 000 000 YOU.
What the project survival relies on – The projects must have a strong and active user-base. Without user-submitted content, advertisers will have nothing to gain from the platform. That’s why it’s very important for the Selfllery team to devise a good marketing campaign (a large-scale one is planned for Q2 2018) in order to attract users and advertisers.
Will this project survive a cryptocurrency bubble burst and does/will it have enough of a following that needs it every day – Social media users have been searching for a way to monetize their videos and photos for a long time now. In theory, the demand should be very high. The idea of receiving money for the photos you make with your phone is appealing to everyone. Advertisers, on the other hand, will have a huge digital marketplace full of user-submitted photos. As long as the projects manages to catch people’s attention, it should be okay.
Competition – There are websites that offer rewards for social activities, but this one is focused entirely on visual content.
Is there a Bitcointalk forum Announcement thread – yes https://bitcointalk.org/index.php?topic=2759497.0
How many pages is it–60
History of the coin according to the forum and general public impression of the coin throughout– People seem to like the idea very much. A lot of them are eager to try the platform and/or invest in YOU tokens. Several times I’ve seen commentators express worries that professional photographers will take over the platform thus reducing the chance for photography enthusiasts to get rewards, but overall people seem to believe that as long as the user produces quality visual content, he or she should be able to get Likes and win tokens.
Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers – Yes – https://twitter.com/selfllery They post regular updates and have around 4200 followers.
Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – Yes https://www.facebook.com/Selfllery/ They are very active and have more than 34 000 likes.
Telegram link – They have a few Telegram channels:
Official link – https://t.me/Selfllery 900+ members
Link for English language – https://t.me/selfllery_en 4700 + members
Link for Russian language – https://t.me/selfllery_ru 1200 + members
Is there a youtube channel
https://www.youtube.com/channel/UCoBbN_3YZt7T0qIE5n-KGQg – Around 600 subscribers and only 7 videos. Apparently the team isn’t focusing too much on Youtube.
So, what do I think about investing in Selfllery
In theory, the project’s intended system should be functional. Advertisers will have access to a huge amount of photos, which users will submit in hopes of getting Likes and winning contests, thus winning money in the form of YOU tokens. Of course, the amount of users will be crucial to the success of the project. The more the users – the bigger the choice for advertisers and companies looking to buy visual content. Some people have branded Selfllery as the next big thing and the Instagram killer. I wouldn’t jump to such conclusions, we have seen how great projects have not produced the stated results, but the potential is clearly there. I believe that provided the user-base is high and active, it will be worth investing.
Thank you for your time spent reading this article. The internet is huge and I might have missed some information or read something that is not true. Feel free to criticize and point out any mistakes. In fact, please do criticize, this is the best growing mechanism. All good luck to all crypto-enthusiasts. Let us make some money.
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