Eligma, a cognitive commerce platform, will be connecting existing e-commerces and second-hand marketplaces into a one-point-stop for users. By harnessing AI and blockchain technology, Eligma is changing the way users discover, purchase, track and resell items online.
Eligma, a cognitive commerce platform, will be connecting existing e-commerces and second-hand marketplaces into a one-point-stop for users. By harnessing AI and blockchain technology, Eligma is changing the way users discover, purchase, track and resell items online. To provide a new simplified user experience, a Slovenian-based company is set to launch its crowd sale on April 17 with a hard cap of $24 million.
Eligma was born as a response to problems identified in traditional retail and especially e-commerce, which has exploded in the recent decade. The project is entering a market, in which sales reached 2.3 trillion U.S. dollars in 2017. It aims to offer a set of previously unanticipated solutions to discover, purchase, track and resell items. This is now viable due to the development of artificial intelligence and blockchain technology.
Eligma's goal is to offer a comprehensive set of solutions, consisting of discovery, inventory and loyalty pillars. Using artificial intelligence, Eligma`s engine algorithm will process millions of data points from numerous online stores to compare product specifications and characteristics in order to find the product with the exact specifications users are looking for.
To save additional time and hustle, Eligma will introduce a unified shopping account, meaning that a single shopping cart and checkout process will suffice to complete purchases in multiple online stores at once, whereas the platform`s cryptocurrency payment gateway will enable users to pay with cryptocurrencies even if the online stores don't support them yet.
With the inventory feature, users will be able to see the AI-predicted current and future item value and then decide when to sell those items. That is how every household will become a business. Eligma will offer various possibilities of using its ELI token for activities performed on the platform. Users will be rewarded for using the token through a universal loyalty system. It will consolidate merchants in an integrated open-loop universal loyalty system and provide a simple and convenient user interface. There will be no need to register with a standalone loyalty program of each merchant.
The idea of solving the problem of the abundance of products found online has brought together some of the most prominent entrepreneurs. They are partnering with important individuals and organizations to have access to an array of knowledge, expertise and experience in commerce and technology. Amongst the advisers are Andy Baynes from Nest-Google-Alphabet and Peter Moricz from ChainX, both promising a global reach and impeccable delivery. The Eligma company was founded in 2017 by three experienced Slovenian businessmen - Dejan Roljič, founder of ABC Accelerator, Matej Gregorčič, founder and CEO of Viberate, and Jože Mermal, CEO and chairman of BTC d.d. The development process of the platform is additionally reinforced with strategic partners, such as Spartan Solutions and Netis, both leading cryptocurrency and blockchain development companies in Europe.
To develop a technological solution for resolving the drawbacks of commerce and e-commerce and simplify the shopping experience, Eligma is raising funds through a public crowdsale, starting on April 17th. Early contributors will be able to join the presale of the ELI token, starting on March 20th.
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This is an interesting idea, as from the description, just like an "ebay" at Blockchain ecosystem. I'm also interested in what AI can help on this domain.
Business strategy, investment deals, investor relations Rated on Mar 14, 2018
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Excellent team and advisers, but an absolutely standard product, which does not differ from the standard online store, which combines a wide range of SKUs and stocks of a large number of merchants. There are many such good projects without a blockchain.
Combine the stocks of all stores and the description of goods is not such a big problem. What is really difficult is to make a user-friendly and efficient search of these goods.
ICO Advisor | ICO Analyst | Blockchain Researcher Rated on Mar 15, 2018
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Excellent use of AI and blockchain technology. Strong team. Also universal rewards is also a novel concept. One issue that needs to be corrected is KYC. This needs to be completed for the second co-founder and I will udpate theTeam rating after successfully passing KYC. (Updated, KYC Passed, team rating updated)
Alignment of token lock in for team not aligned with roadmap with a significant amount of roadmap due after all lock ins expired. Idea good and some good partners who are also advisors. Will these be receiving advisor and partner tokens ? Quite localised , but that still looks a decent business. Hard cap not excessive
Founder - Crypto Society, ICO Advisor, Marketing Consultant, DayTrader, BlockChain Enthusiast, Rated on Mar 16, 2018
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If they can pull this off which I believe they can with the team and advisory board they have, I will be one of those users who will be actively involed in the marketplaces. Excellent idea and I wish them luck
Co-Founder and CFO at CryptoDiffer | Investor| Marketing Specialist| Senior Analyst at Venture Fund Rated on Mar 23, 2018
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5
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I have explored this project and consider it to be quite promising for next reasons:
First of all, niche is very profitable, but they have some competitors like Syscoin, Particl, Elementh, GLUON. Advantage of ELIGMA is combining AI and blockchain technology.
Secondly, team is solid. They have good programmers as well as great influencers. I like Alexander Danilov (CTO) with more than 10 years in IT.
Finally, they has raised 30% of the fundraising goal which shows a high interest to the project.
But I do not see any MVP or prototype that I can try.
Co-Founder & President at Koinsquare | Marketing Manager at AidCoin | Campaign Success Manager at 200 Crowd | Advisory Board Member Rated on May 10, 2018
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5
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3%
Personally I believe that the project could improve its industry market with the power of blockchain, let's see in the next future how it will be implemented.
STO-ITO-ICO Advisory | Strategy | Decentralization | Commercialization Rated on Mar 16, 2018
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This kind of idea really excites me conceptually and I'm glad to see it coming to the Blockchain.
The team is quite regional in nature however balanced by some strong advisory talent. The vision is great and I'm an admirer - bring us an awesome product please!
- Huge market, if they can occupy at least 0.5 percent of this market, then they will be super successful. (Vision).
- They already have a partners in this area
- They have experienced team in this area
Software engineer and advisor Rated on Apr 20, 2018
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Something like this needs to exist but it is probably not going to be anyone platform - more like a decentralized network of platforms. Otherwise you'll end up with a Facebook of shopping and imagine how that is going to end up - with the founder testifying to the US Government :-)
Hopefully not..
I'd be particularly interested if someone could crack the nut of secondhand items with P2P sales. The are many people trying to build successful eBay competitors and better Craigslists but really none are succeeding because they are all their own closed worlds that live or die on getting a user base which means basically stealing from the incumbents. A tough nut to crack indeed.
Any platform for commerce needs to have a strong story around identity, trust, reputation. I'm not seeing that here although they get credit for mentioning GDPR in the area of privacy. But I don't see "verification" and "reputation" and "identity" featuring in any significant way in the whitepaper. I would hope that would be key to building a successful platform - just think how successful Craigslist could be if they added those things?
But they do at least talk extensively about escrow. That's a good thing.
I found all the talk about BTC confusing. Turns out it is not about using Bitcoin, but a commerce district called BTC City .
The team is very strong and includes a lot of experts in the field of Blockchain. By having Charlie Shrem on the advisory board really gives the project a better than average chance to success. Good luck and I will be following this project intensely.
Smart contracts RD | ICO Advisor Rated on Mar 15, 2018
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Such big team but failed KYC, I think you will fix it. In my opinion, AI and Blockchain are very close to each other technologies, and we need to connect them for produce benefit for people
"Love Is Forever When It's Written in the Blockchain" Rated on Mar 16, 2018
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Great vision, massive team. You'll need advisers from previous success ICOs. Hope you'll fix this after the successful presale. Looking forward to seeing your MVP, please inform. Good luck!
ICO Analyst|Content Writer|Trader| CFA Charterholder|Consultant Rated on Apr 1, 2018
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Great opportunity here, good luck on the project! Like the concept. Milestone Roadmap is too a bit too long as the marketplace isnt ready until may 2019. That gives others a lot of time to create competition in this space.
Investor, Decentralized Economics Researcher, Crypto Visionary, FinTech Pro, Startup Mentor and Advisor Rated on Apr 14, 2018
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Brief thoughts:
1. A strong and an adequate to the task team, interesting advisors. You can use more regional diversity thought.
2. Idea is interesting and doesn;t find a lot of competition from other ICOs. Yet there is a clear presence of established players in the market, who's clients and volumes Eligma are going to take. What is worrying, is the lack of go-to-market strategy and clear vision on tackling the existing competitors. From the perspective of hodling that doesn't add certainty or assurance.
3. The product quality and the mid-term token price are very dependent on the size of the created business inside the platform. Size will matter to almost everything. This business can go big or can go home. Niche scenario doesn't look plausible. And that is both good for the potential gains and risky from the investment perspective.
4. The hard cap, been it raised, looks to be partially in disconnect with the tokenomics. The ICO proceeds utilization in this scenario looks disadvantageous towards the ICO stage investors.
5. Project already pre-sold 14k+ worth of tokens (give it at least 115% multiplier).
Conlusion: it is an interesting target for investments, yet it is crucial to get tokens with the maximum discount possible to have a margin in a short and mid terms. I would very cautiously take this token for hodling during the ICO, there seem to be several potential price dips where you would be able to buy in with a lesser risk.
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