Bounty Angels is promoted as a project that helps blockchain start-ups to automate their marketing processes.
They believe that blockchain technology is a new developing market that lacks the right marketing tools to run effective bounty campaigns.
They say that marketing agencies as currently constituted, are limited by human resources and are prone to costly human errors.
They argue that marketing agencies cannot be scaled because of their flaws.
Seeing a gap, they are building a platform that will automate the bounty campaigns of blockchain start-ups, benefiting bounty hunters and marketing agencies and helping blockchain firms to run effective bounty campaigns.
Other than this, they plan to create a pool of qualified blockchain experts including software developers, advisors and designers to help start-ups implement their projects from the idea stage to finished product.
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BOUNTY ANGELS OVERVIEW
Hard Cap: $3.5 million
Payment Methods: ETH
Total Cap Size: 20 Million BANG
Pre-ICO: September 3, 2018 - October 3, 2018
Public Sale: November 19, 2018 - December 19, 2018.
They also say that theirs is not an attempt to reinvent the wheel, but to provide a service that's in high demand.
The team believes an ICO is their most effective tool to raise funds and that's why they plan to have a public sale on September 1, 2018.
Project Use Case
Let's now look at the Bounty Angels white paper to learn more about the project.
Bounty Angels team think that the existing bounty programs for ICOs are not as effective as they should be.
They accept that the industry doesn't have many qualified specialists.
This being the case, ICO projects are left with few options and end up making mistakes.
They also say that it's almost impossible for start-ups to track the effectiveness of Bounty Hunters as there are no automated control systems.
At the moment, ICO projects can only use manual methods to improve efficiency of their bounty campaigns. Notably, manual methods are not only expensive but time-consuming.
They say that have a solid team that analyses projects to come up with the best bounty campaigns format for each start-up that's been analysed.
For bounty hunters, they get a fee for providing services to the ICO companies.
The platform also caters for advertising agencies.
All-in-all, the following services will also be included; token distribution, KPI analytics, bounty hunters accounts, and training guidelines.
In addition to these, they plan to introduce a rating system for bounty hunters and a feature that allows start-ups to automatically search for bounty hunters activities.
The team accepts that theirs is not the first solution to target bounty campaigns as other companies are already providing similar services.
Their white paper mentions BountyOx as a direct competitor.
They say theirs stands out because its centrally administered, meaning that bounty specialists can physically meet with customers.
They also argue that theirs is a trust based system that delivers high quality bounty hunters compared to the competition where bounty hunters pay to raise their status.
The project sees blockchain as an enabler to allows them to create an automated solution running on Ethereum smart contracts.
Going forward, they are planning to introduce machine learning and artificial intelligence in the later stages of the project to refine it.
Bounty Angels Team Overview
A total of nine team members are implementing the Bounty Angels project. They are led by the CEO, Anatoly Krasovsky.
Other team members include the PR manager, chief technology officer, developer, front end developer, designer and bounty manager.
The two listed advisors are Andrew Antonovich in charge of legal affairs and Kseniya Zhuravleva, in charge of product development.
The white paper mentions a small team but when we look at their credentials, they seem well grounded in blockchain tech.
How The Token Works
Bounty angels will have its own cryptocurrency token dubbed 'Bang'.
Bounty Hunters will use Bang to pay for services in the platform.
The token can be exchanged with other digital currencies or fiat currencies. In addition to this, token holders can use Bang to settle transactions between them.
Their white paper categorically states that Bang is a utility token and not a security token, adding that it can only be used as a means of payment.
They are issuing 20 million BANG to be distributed through their token sale events. Of these, 5.2 million tokens will go into a 'frozen pool' consisting unsold tokens.
Whenever Bounty Hunters choose to be paid in BANG, the tokens will be drawn from the frozen pool. The team gets 30% of the tokens.
What Do Investors Gain
Bang creators have a clever way of popularizing their cryptocurrency token. They plan to make BANG the exclusive means of payments in the platform.
They reason that if the automated services function optimally, the value of BANG will go up as its demand rises.
If this happens, investors have an opportunity to make profits from their investment.
Additionally, in the event their 'frozen pool' gets exhausted, they plan to buy out tokens to pay Bounty Hunters.
The idea is to buy back tokens to reduce their circulation and increase their value.
For investors, they benefit when the price of tokens goes up.
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Opportunities & Risks
It's worth noting that blockchain technology has grown tremendously over the years, with thousands of ICO projects raising billions of dollars through crowd sales.
As such, there's need to automate the bounty campaigns aspect of ICOs as these campaigns determine the success or failure of any project.
Given the high number of projects launching ICOs, Bounty Angels could become a successful service provider if it's widely adopted.
In terms of risks, the bounty programs industry seems crowded at the moment, with airdrops digging in for a piece of the pie.
The competition is stiff, meaning that the project with the most applicable solution stands a huge chance of succeeding.
There's also the threat of a new project coming in and creating a solution that disrupts the industry.
ICO SIGNALS :
When we critically look at the bounty programs industry, we can tell it could do well with an automated solution.
Because Bounty Angels are providing a one stop shop for blockchain start-ups, they stand a chance to do well as they simplify the marketing process for these projects.
Bounty Angels sounds solid enough going by its white paper, but there are some concerns.
First, its partly centralized in that it links start-ups with a centralized pool of bounty specialists. This technically defeats the spirit of blockchain which is all about decentralization.
There's also the aspect of competition.
With so many competitors angling for a piece of the bounty campaigns market, the chances of succeeding are slim, unless the project finds a nice niche for itself.
The team is remarkably small and there are concerns about whether it can pull off such an ambitious project.
Despite this, they seem to have a great vision and a good product that's practical and scalable.
Furthermore, they do not have a working product.
It doesn't help to see that the team is getting a huge chunk of the tokens (30%).
Looking at all factors, we can easily tell that the project looks really good on paper.
However, success will depend on how the team implements the idea.
It would have helped if the team could reveal the 'big company' its working for and the projects they have implemented before.
Without a doubt, this is one of those projects that will take time before they bear fruits.