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Ratings FoodNation

The #1 Blockchain Food Delivery Marketplace

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.

3.5
9 8 expert ratings
Benchy 4.0
KYC
Experts
2.9
3.5
3.6
Review: coming soon PRO
Ended
2018-11-05 - 2019-01-25
41 days 5 hours left
2019-04-01 - 2019-06-30
Token
FOOD
Type
PreICO Price
1 FOOD = 0.3 USD
Price
1 FOOD = 0.5 USD
Bonus
Available
MVP/Prototype
Platform
Accepting
ETH
Minimum investment
0.5 ETH
Soft cap
1,200,000 USD
Hard cap
12,000,000 USD
Country
Whitelist/KYC
None
Visit ICO website
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Changelly

Ratings

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
Clemen Chiang
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.

All the best!

+3Agree
+1
-2Disagree
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Ong Jun Hao
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.

+4Agree
+2
-2Disagree
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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.
Jeremy Khoo
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.

+2Agree
0
-2Disagree
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Igor MontellaICO team member replied on 23 Nov 2018
Hi Jeremy,


Hi Shohel,

Thanks for your feedback, it helped us a lot. We've made some progress with our MVP. Please, check this out:

Client APP: https://play.google.com/store/apps/details?id=io.foodnation.client
Restaurant APP: https://restaurant.foodnation.io

We are improving the product in order to start the operation, it's not yet our ideal product, but we are working hard on it.

Thank you very much for your feedback.
Ian Scarffe
Blockchain Consultant, ICO, IEO, STO Advisor. Founder at Crypto Consulting and Investments LTD.
Rated on Apr 29, 2019
3
4
4
10%

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.

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0
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Krutesh Shah
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.

+1Agree
-1
-2Disagree
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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.
Shohel Alam
Entrepreneur | Data Analyst | Investor Relationship| ICO Marketing & ICO And Blockchain Consultant & Advisor
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.

+1Agree
0
-1Disagree
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Irwin Chee
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

+1Agree
0
-1Disagree
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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)
Fang Jiaw Lim
Dr
Rated on Mar 1, 2019
Modified on Mar 1, 2019
2
4
3
6%

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.


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Benchy
ICO analyzer bot
4.0
24%

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.

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ICO KYC Report
4 members invited
Fan Yang Chun
Passed
Felipe Carvalho
Passed
Igor Montella
Passed
Vitor Lançoni
Passed
KYC procedure verifies selected/specific team members only. It does not guarantee ICO success nor is a call for investment.
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