ApolloX is a decentralized ecosystem for global e-commerce. We built an e-commerce protocol to enable real-world e-commerce applications running on the blockchain. We connect buyers and sellers with trust and transparency, without information silo and monopolistic middlemen. With our unique blockchain technology, ApolloX brings benefits to both consumers and sellers.
Mission and Vision The rise of the ecommerce industry in the last 2 decades has led to the emergence of giant online shopping companies such as Amazon, eBay and Alibaba. However, the centralized nature of this industry has created issues of unfair pricing, hidden costs, data abuse and more.The problems that the e-commerce industry is facing are based on their centralized model.
ApolloX solves the above problems with a blockchain-based protocol that empowers decentralization in the e-commerce industry. ApolloX is to disrupt today’s e-commerce marketplace industry and provide everyone all the benefits of trading through a marketplace like Amazon without the unnecessary costs that come from monopolistic intermediaries.
ApolloX uses tokenization and decentralization to replace today’s rent-seeking enterprise with a new model of complete shopping protection, data security and minimal commission. ApolloX believes that with the implementation of their model, ecommerce costs can be reduced by up to 40%. Their goal also is to create an ecosystem that thrives on community.
ApolloX Solution - Decentralized Trust Instead of relying on an entire company to maintain trust between buyers and sellers, the execution and utilization of ApolloX protocols means trust will be provided by community consensus.F or example, if a buyer runs into problems with a fraudulent seller, they know their case will be reviewed by a group of their peers. Their centralized equivalent would profit from the success of the transaction, regardless of the damage done to the buyer.
ApolloX Solution - Lower Prices With the current ecommerce model, we pay up to 5 times the amount an item costs to manufacture for convenience. Every link in the supply chain is taking a profit. By implementing blockchain technology to the platform, we’re closer to conducting business peer-to-peer. The ApolloX team anticipates a reduction of 40% for consumers by eliminating middlemen with the blockchain.
ApolloX Solution - Data Control Inherent in blockchain technology is the ability to encrypt sensitive information and store it on an immutable ledger. If the information needs to be accessed, a user is able to do so with their private key. ApolloX only allows buyers to access their browsing and purchasing activity. Buyers can even choose not to leave any activity history. By having access to this valuable information, users can voluntarily share their data with service providers on the network to earn rebates or personalized services.
Project Progress Over 200 global brands and online shops have become members of the ApolloX decentralized marketplace within 2 months since the announcement of the ApolloX platform. Many brands and seller communities positively responded to the new blockchain based marketplace model that ApolloX is building. Based off these reviews, the ApolloX team aims to partner with 1000 stores before the platform’s official launch.
ApolloX will launch with 1 million users and 15 million annual revenue thanks to its strategic partner ApolloBox, a fast growing vertical marketplace in the US. ApolloX users will be able to use both APXT(ApolloX’s native token) and fiat currency to make purchases from ApolloBox and earn rewards.
The Team ApolloX founding team are from top university and companies including MIT, Stanford, Tsinghua, and Google. ApolloX is also backed by reputable ventures in both US and China: Amino Capital, Redmoon Capital, and Hofan Capital.
ApolloX team has successful track record in building e-commerce marketplace. They founded ApolloBox in 2016 and now has 1 million active users, over 800 global brands, and $15 million annual run rate.
All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Founder Of BlockConnectors.io (Top Blockchain Advisory Firm In Asia) | Consulted 20+ ICOs | Marketing Expert Rated on Sep 6, 2018 Modified on Oct 4, 2018
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Good project and theres a huge demand for project like these. Ecommerce is one of the biggest market globally right now and many problems arise with centralization (as seen from hacks etc). This project solve this problem and taps on the huge market. Good team as well.
ApolloX vision of decentralizing global e-commerce is a highly ambitious project. There are other players in the market as well. KYC is done and the team appears to be highly experienced. They will need the right marketing and advertising tools to make this project a success.
Engineer Rated on Aug 29, 2018 Modified on Aug 29, 2018
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Good team and good social appearance. Whitepaper could be improved with more finance information with competition analysis. The biggest concern I have is this is yet another project trying to decentralise e-commerce! There are plenty of failed projects already and none of the projects generated any ROI for investors. They have mentioned list of Investors on the website but there are not authentic information out there for community! Softcap is very high! I would like to get more details from the team.
Founder of Serendipity Blockchain Solutions Rated on Sep 11, 2018
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E-commerce is booming, with giants like Amazon, Ebay and Alibaba. However, these are only a handful of the dozens of e-commerce platforms – all sharing one problem: centralization. There are fraudulent reviews, hidden prices and knowledge abuse. ApolloX is a platform aiming to provide a couple usecases, such as a decentralized marketplace, independent stores and e-commerce services.
I feel that the team behind ApolloX is fairly Asia specific and lacking attraction to the western world. They have M. Hossain and J. Gale on board as advisors, which does help them. However, I am unsure what their roles are in the project.
The team has set the softcap at $4M and the hardcap at $20M, however for the team to gain enough traction in this space against the big competitors I believe they would need a lot more money to become successful. Especially, since they do not have a working platform as of yet. The team has set the goal to be fully live as a decentralized service somewhere in 2020 – which is far out and gives competition, blockchain-based or not, a lot of time to improve and revolutionize their services.
According to the ApolloX team, the platform currently has 1 million users and 15 million annual GMV thanks to its strategic partner ApolloBox. Over 200 global brands and online shops have become members of the ApolloX decentralized marketplace, but will it be enough to take on the established competitors?
SMOTION Founder| MDes Industrial Product Design | Industrial Engineering Degree Rated on Sep 11, 2018 Modified on Sep 11, 2018
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As a personal opinion, in essence, a crypto project based in other one but centralized, has no future “per se”. The concept bases had been used in other e-commerce related projects - middleman high fees (30%), protection against fraudulent sellers, control over buyer/seller data, a different selling model from Amazon, Ebay,…-. What is more, there are other projects like this one already performing in exchanges (INS). Nothing different in crypto space but its strategic partner ApolloBox (5% pre-allocated tokens), which will contribute with the integration of 1+ million active users and will develop the initial ecosystem, could be the key point for success or not. Good to see a long-term investing period for team members (3years – 15% tokens). KYC passed. Despite a clear and detailed description of the current e-commerce market, a decentralized solution and ApolloX protocol modules, there is a lack of financial information.
Account and Investor Relations Manager at Utopian Capital Rated on Sep 13, 2018
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A good team on a commendable mission and an essential product will surely interest investors. Marketing is a main concern here as for most ICOs which failed to reach their hard cap due to lack of community support. Find the most credible agency to collaborate with your team because that is the yardstick by which ICOs are measured.
Community Manager Rated on Sep 13, 2018 Modified on Oct 23, 2018
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E - commerce is already a big thing today and blockchain can help to make E - commerce better for all end users and consumers alike. A strong team with a great vision and user friendly product will have great potential.
ICO Marketing / Influencer Marketing / Crypto Trader Rated on Aug 29, 2018
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The idea I like I think it has potentials. They are a fully functioning solid team already with a lot of press on sites like Techcrunch and so on. I didn't see any MVP however the company does have a fully functional product which has made over a million dollar so converting that shouldn't be too hard. I look forward on seeing what comes out of this project. Whitepaper is well written as well.
Founder TOTS Rated on Sep 25, 2018 Modified on Feb 19, 2019
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Disclaimer: Rating and or commentary provided represents my own personal view and is not to be relied upon as advice. I am not a financial advisor nor am I registered in any jurisdiction with any financial services regulator. I provide no recommendations that any offering should be bought, sold or held. Before making financial decisions please undertake your own due diligence and consult a financial advisor.
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