We are a online food delivery marketplace, developed collaboratively, using the blockchain technology and having as key part the distribution of the profits with the sellers and promoters for a more viral and sustainable growing.
The online food order market is practically under the domain of big players whose profit margins are very significant, sometimes more than 50% of the services taxes. These monopolies eliminate good part of the business competition making both restaurants and clients run out of options.
Nowadays this market moves USD 121 billion and the foresight is that will be still growing in high taxes (approximately 18% a year) reaching, in 2002, nearly USD 234 billions.
FoodNation is creating a marketplace for food order by apps with division of efforts for conquer together this billionaire industry. All the partners that are involved in the network could enjoy, in a meritocratic way.
We are an online food delivery marketplace, collaboratively developed using the world’s most advanced blockchain technology, having as our core concept the profits distribution amongst the whole network. In our ecosystem, sellers, promoters, and users will benefit from the transparency, fairness, and expertise that every single actor will bring to the environment. We truly believe that by cutting the traditional businesses inefficiencies we will make the blockchain based marketplace the new norm towards a more egalitarian entrepreneurial ground.
Combine city traffic, long office shifts, great restaurants, tv streaming, and smartphones, and you will have a U$121 billion business called online food ordering.
Big shot VCs and great minded entrepreneurs have already seen the opportunity and are profiting loads of money by getting in between kitchens and hunger.
The recipe is simple: have as many users as vouchers can buy and as many meals offer as the neighbourhood can provide. Mix it with a 15% take rate, and you will get the best dinner of your life. But this business is not always fair, and on that table, if you are not the marketplace owner, you might be the meal itself.
Next time you visit your beloved restaurant, ask the manager what he thinks about the marketplace his restaurant is in. Chances are he will say it is a hostage situation. Since the delivery orders are massively migrating to online platforms, it is dumb to be out, but once inside, forget about the good old margins it used to maintain mostly to build up savings against the uncertainties of pay-roll, equipment, tax and next-door competition.
Now the scenario: dark kitchens are coming and scaling, big chains are dedicating a budget for online co-branded marketing campaigns, local heroes are hiring engineering staff to deal with lean production complexities, but the poor long tail restaurants, those are deemed to disappear.
Imagine you have inherited your grandad’s restaurant. Food is good, customers are loyal, financials are ok, but yet you feel like it is time to go online. The first three days are amazing. Orders go from 0 to 100 in a matter of hours, ratings are doing good as well. In five days you start hiring and refresh the plans to have a second baby. Everything is fine until it gets bad. The weekend goes by and without notice, orders start to slow down and you get to learn about the marketplace newcomers’ top placement strategy. Yes! They put you on top so you think it was a good deal. Not willing to lose the pace, on the next days and months you start inviting your old customers to join the marketplace to order from you in a more convenient way. Suddenly you come to realize your customers are been seduced by the big chains free food and the zero delivery fees campaigns. Regret takes place but it might be too late. You have hired, bought new fryers, the wife is pregnant and bills are pilling-up. Your restaurant is now captive with two choices: accept the marketplace commissions and learn how to coup with adversities or close and go bankrupt. The family will say it is fine! Happens every day.
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
Ph.D. | CEO | FinTech in Stocks | Blockchain in Cryptos | Author of Amazon Best Sellers in Online Trading Rated on Oct 2, 2018 Modified on Nov 15, 2018
4
5
5
11%
Soft cap 100,000 USD
Hard cap 24,700,000 USD
Soft cap is unrealistic and the team size is too lean to execute the complete business plan.
All the best.
~~~~~~~~~
Igor Montella
ICO team member replied on 9 Nov 2018
Hi Clemen, thank you very much for your feedback, we have done some studies and projections to re-establish the new soft and hard cap. We already updated it. Thanks again for your sincere feedback.
~~~~~~~~~
Well appreciated that you took action on my feedback positively.
The team needs to beef up with advisors to guide this project into fruition.
Founder Of BlockConnectors.io (Top Blockchain Advisory Firm In Asia) | Consulted 20+ ICOs | Marketing Expert Rated on Oct 2, 2018
4
3
4
11%
Same as clement, Soft cap is 100,000 USD
Hard cap is 24,700,000 USD. Soft cap seems quite unrealistic and thats because for this project to work, not just platform is needed, marketing is as important as well. This project is decent but soft cap should be adjusted.
Igor MontellaICO team member replied on 9 Nov 2018
Hi Ong Jun Hao,
Thank you very much for your feedback. We have already updated our Soft Cap.
About marketing, we have allocated 25% of our tokens to bring new users and restaurants! So, we are going to use this portion of tokens to gradually grow the use of the platform.
Group CEO | Blockchain Entrepreneur | VeChain ICO Partner | Fund Partner | Exchange Founder | Singapore Rated on Oct 2, 2018
2
4
3
11%
Team is not featured much here. Doesn't seem congruent in terms of their vision (which is big) and the ability to execute (which is very critical). Will monitor for measured progress.
Blockchain Consultant, ICO, IEO, STO Advisor. Founder at Crypto Consulting and Investments LTD. Rated on Apr 29, 2019
3
4
4
11%
The FoodNation team looks very small, I also don't see any advisors listed. The idea is nice, although of course it is a hugely competitive market, although they are quite ambitious.
Enterprenuer | CEO | ICO Advisor |Investor | Blockchain Enthusiastic | Public Speaker Rated on Oct 2, 2018
3
3
3
10%
Team is really small, no advisors. MVP is good. There is already big companies with most of the clients already using this apps like JustEat, Uber Eat. The market is very competitive and business needs to spend very huge chunk of investment in marketing this product. This may be very difficult but not impossible. Best of luck team.
Igor MontellaICO team member replied on 9 Nov 2018
Hi Krutesh,
We understand that we have big competitors to surpass, but right now the online market represents less than 40% of the entire market. So, when you look the reasons for that, you find out that the high fee played by the current marketplaces and lack of transparency impose strong restrictions to some restaurants.
Our goal is to re-segmentate of this existing market by positioning ourselves as a low-cost player. To be this low-cost option, we need to better use our marketing resources, growing in a more viral and sustainable way.
Entrepreneur |ICO,IEO Advisor| Blockchain Consultant | Listing On Exchanges | Marketing And PR Expert | Mentor Rated on Oct 1, 2018 Modified on Nov 26, 2018
2
3
4
9%
Team Looking so small and doesn't have advisory board. Lack experienced team.
They wants to capture global market for growing business but according this Soft cap it's not suitable for this. Open source project sound interesting . Need to improve WP about business planing, marketing planing and token economy.
About mvp I don't find mvp for me it's in concept level .... looking forward to see the mvp and will Change my rating. Best of luck team.
Update: After see MVP and update information about this project i change my rating.
ICO Advisor | Blockchain Enthusiast | Venture Capitalist Rated on Oct 1, 2018
3
2
2
9%
Vision of the project is idealistic but I fail to see a real business model for this project and does not seem to be able to work very realistically. Would need to see the partners they are working with
Igor MontellaICO team member replied on 9 Nov 2018
Hi Irwin,
Thanks for your feedback, it's very helpful to find gaps on our speech!
We understand that we have a long-term vision, but we will start operating soon... We understand that for generating value and increase the price of the token, we need to bring more restaurants and users and we are focused on it, right now.
About how FoodNation works, please check out the page 31 of our WP (http://bit.ly/FoodNation-WP).
We have also partnered up with the Latoken Exchange (http://bit.ly/2JSb66W)
The team is quite small and they have a noticeable lack of advisers for a project that is this ambitious.
The product appears to be too idealistic since the user will have to get on the food nation system to interact with the restaurant and that may be a barrier for getting enough customers and restaurants onboard.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
Market research
Business model development
Brand and concept
White Paper conception
2
Q2 2018
Client application flow
Institutional site
Investidor disclosure
3
Q3 2018
Start the token pre sales
Telegram community
Client application alpha version
Restaurant application flow
4
Q4 2018
Finish the token pre sales
Client application beta version
Restaurant application alpha version
Community-only tests
Disclosure for sellers
5
Q1 2019
Start the token sales
Restaurant application beta version
Client application 1.x version
Pilot in city to be defined
6
Q2 2019
Finish the token sales
Relevant exchange listing
Community alpha version
Mainet Switch
Live operation in up to 10 cities
7
Q3 2019
Anti-fraud mechanisms (validators)
Restaurant application 1.x version
Community beta version
Live operation in up to 20 cities
Decentralized search beta version
8
Q4 2019
Community 1.x version
Rating restaurant feature
Partnership with exchange for transparent
payment (credit card)
Chat bot (Whatsapp, Messenger,
WeChat, Telegram, etc)
Live operation in up to 50 cities
9
Q1 2020
Decentralized search 1.x version
Important digital influencers on board
FoodNation world celebrity on board
Live operation in up to 100 cities
10
Q2 2020
Integration with delivery platform
Restaurant promotional control
Live operation in up to 250 cities
11
Q3 2020
FoodNation payment on store
Community take on 100% management control
Live operation in up to 500 cities
12
Q4 2020
Recommendation plates and restaurants
Community take on 100% development control
Live operation in up to 1000 cities
