Rated on Apr 2, 2018
First reviewed on 1 April 2018.
1. Good vision.
2. In light of various stock images providers, this is a much welcome product to the space.
3. The official telegram is https://t.me/joinchat/BlmKBw-hkGN-Amj_GTprNg and as of 1 Apr 2018, there are about 3,400 users. However, many of the users could be artificially added to the group - just like how I was added to the group - I would have preferred that my consent is sought first prior being added in by either a human or a bot.
I've reviewed IPStock whitepapers and various of its related websites and have posted some questions to the core team in their Telegram group:
To Core team: I've reviewed your WP and various related websites and you have an interesting project there. I saw the mention of a holding company in Singapore "IP Invest Pte. Ltd." @ 126 Joo Seng Road, and that your team or core company is based in Switzerland.
Q1. Would appreciate if you can elaborate further on your Singapore company; who are the directors and shareholders (such info is also available in ACRA, but I am hoping that you can share it with us here).
Q2. On your Switzerland company, is it "Intellectual Property Depository and Management S.A."? Other than Fongit, who are the other shareholders and directors?
Q3. Most ICOs are not able to accept fiat money, and glad that you are able to accept that... any regulatory issue that you managed to overcome?
Q4. What's the ETH smart contract address?
Q5. May glad to be part of this Telegram but it was someone from your team (or hired team) that added me here, may I know who?
I may revise my ratings after receiving answers to my above questions.
I received a reply from Egor @Mare_di_Roma:
A1. Yes, this info is public and available in ACRA (www.acra.gov.sg), we can send it also personally - chek your PM.
A2. The majority of IPDM is owned by IP INVEST.
A3. It is not a regulatory issue, it is a policy of particular banks; we have very strict KYC & AML rules, also we accept fiat for large private purchases only.
A4. Smart contract will be deployed after token sale end and completion of AML/KYC requirements.
A5. You were added by hired Asian marketing team.
I've further asked Q6 and also received a reply.
Q6. I also noticed that "Seet Mei Siah" is a Director of IP Invest Pte. Ltd. but is not part of your core team. Would appreciate an explanation on this.
A6. She is part of admin not involved in product creation.
From IP Invest Pte. Ltd. these are some interesting information from its ACRA Business Profile https://goo.gl/4RDZ3n,
o The company was incorporated in 8 May 2015
o Total paid up capital is SGD1,000 + USD1,445,200
o Name of the sole Director of the company is "Seet Mei Siah" who is neither the shareholder nor part of the ICO team and I was told that her role is administrative only.
o There are 5 individual shareholders, some of whom are part of the ICO team.
o There are two corporate shareholders: Berinvest Limited (BVI) and Cassberg Holdings Limited (BVI)
o Collectively, the capital put in by the shareholders is only SGD1,000 and USD880; I've asked if the bulk of the USD1.4m is coming into the Pte. Ltd. but did not receive an answer. A reply I received was "1.4 mln were paid by investors in cash, and two founders’ contribution is their active work in the project without salary.", just that I'm not sure where is the 1.4 mil... in SG bank account or Switzerland bank account?
Rated on Apr 7, 2018
Rated on Mar 5, 2018
- Product offers multiple solutions to an existing problem on the market, such as universal source of copyright proof, authenticity guarantees and licensing history.
- Project allows licensing of AR and VR digital visual content;
- Platform offers Autonomous Copyright Enforcement: bots that will be able to clean internet from non-licensed content
-Clear appreciation token model: IPStock is the utility token and exclusively used to pay IPStock ecosystem’s transactional & service fees. All transactions within the system will be made only in IPS;
- Unlike competitors, IPStock offers low P2P transaction costs;
- Large traditional competitors like Shutterstock that has multi-million customer base
- It will take 2 years before the platform will have all functions (according to a road map)
- Small hype and small community;
Summary: Unlike many other projects, IPStock is a good example of a blockchain use. It’s one of the first blockchain projects in this market niche and it has all chances to become a dominant project in this field. It solves a list of market problems and has smart-contract based solution. Despite having a great product concept, this project has several risks related to the low hype, absence of working paltform and customer base. It creates additional risks for token holders. If team will be able to address this problems and change their marketing approach, they have all chances to become a blockchain leader in their market niche.
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