Thinking about starting a blockchain startup?
The Dream ICO project believes that a good team can help any company become a success.
That's why they are building a blockchain marketplace to help companies build their dream teams from verified, experienced team members that can be trusted to do the job.
The problem they seek to address is rather straight forward. Companies need great teams to succeed, yet, pulling a team together is tough because one-to-one freelance hiring is unscalable.
Dream creators argue that too many companies fail because they can't access the right mix of talent to push their blockchain ideas to the next level. They say that in the US alone, over seven million businesses are started every year, but 90% of them fail.
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Hard Cap: $16.8 million
Payment Methods: ETH
Total Cap Size: 1 billion
Important Dates: August 2018- presale
Pre-ICO: August, 2018.
Public Sale: TBA
Enter Dream, and building a blockchain team becomes a breeze.
Dream's talent marketplace for blockchain startups links experienced and verified teams to companies that need them, essentially decentralizing the gig economy.
They plan to combine blockchain technology and artificial intelligence in their effort to democratize the talent marketplace.
They do accept that in their endeavour, they need funds to develop the ideal platform, and this explains why the company is raising money through an initial coin offering, slated to start this August, running through to December.
Project Use Case
Anyone curious about how the Dream project works can easily access its white paper for clearer details.
Essentially, the dream project is hinged around the global freelance economy, estimated to be over $1.5 trillion.
They say that despite the large size of the industry, it still focuses on individual skills instead of teams.
Their clever idea is to build teams using reputation data they curate on their marketplace as well as data retrieved from other communities.
They do feel that they are filling a need in an industry that has remained decentralized and ineffective.
They also accept that this is not their first stint at building a successful business, as they have in the past created Moneo, a successful website and payment system that has over $10 million in job postings and a tried and tested BTC escrow system.
Their solution comprises four main components namely Dream Builder, Dream Token, Dream Reputation and Dream Talent.
The gig industry is crowded with new players joining the industry now and then, but Dream creators are banking on experience to stay ahead of the competition.
They reckon that there's a need to merge blockchain with the gig economy to decentralize it. Saying that companies in need of blockchain talent are happy to get such services from a specialized blockchain firm.
DREAM Team Overview
The Dream team is made of the founders, developers, and advisors.
It was founded by Richard Foster, whose LinkedIn shows he's the CEO.
He has 12 years experience as a Cisco architect. He's also an ardent supporter and active investor of blockchain projects.
His cofounder is Amy Diez, an ACCA chartered accountant.
Developers include Frank Fichtenmueller, the CTO and David 'DC' Collier, the technical advisor.
Other titles are head of design, product, lead developer, blockchain architect, product manager, Solidity developer among others.
The team is backed by an experienced marketing team led by Vladimir Popov, the CMO.
It's advisory board features a long list of blockchain experts.
In all, it feels like a well-balanced team with all the right skills for this kind of project.
How The Token Works
Dream's cryptocurrency token is named DREAM, a utility and reward token based on Ethereum's ERC 20 protocol.
With it, users can hire talent on the platform, or even buy premium services.
It's also given out as a reward to community members who use or grow the platform.
The token doesn't seem to have other uses outside the platform.
The team is minting one billion token and plans to distribute half of these through the ICO.
The founders will share 8% of all tokens.
After a successful public sale, the team plans to use half of all proceeds to build the product, with 20% going into marketing.
What Do Investors Gain
It's worth noting that Dream tokens are both utility and reward tokens and their value can rise with increased usage of the platform.
Dream creators hope the project scales fast, increased the demand for tokens and by extension, the value of tokens.
In the meantime, investors can take advantage of the reward program to earn extra coins, even as they hope that the project succeeds.
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Opportunities & Risks
The freelance marketplace looks set for a disruption as it has remained centralized and traditional for a long time.
Dream seems to have just the right idea to disrupt the industry, but there's competition.
As it stands, competition seems like the biggest threat as centralized marketplaces are already using artificial intelligence to build their platforms.
In terms of risks, the white paper does mention the imminent risk of regulators, mentioning that it's yet to be regulated in Gibraltar, its headquarters.
The white paper also mentions that global regulators have different requirements, all of which could stifle the growth of Dream.
ICO SIGNALS :
Blockchain based freelance platforms can be expensive to build because of their complexities.
Most of the times, its unprofitable to do so.
That said, Dream seems to have just the right mix of resources to disrupt the gigs industry.
Their idea sounds brilliant and stands a chance if implemented well.
To their credit, they have also created some hype around the project.
However, there are some negative attributes that we can pick from their ICO.
First, the project feels a bit localized and might struggle to get important global partnerships down the road.
They could do well with a better distributed team, although they must be lauded for putting together a seemingly strong and diversified team.
There's also no secondary market for their tokens. This in itself is bad news for investors because they can get stuck with tokens they can't dispose off in the event the project stalls.
Overall, we like that the team cleverly rebranded an existing product and redeveloped it.
This works for them because they already have existing users to work with.
Other than this, the team seems confident to deliver great results, having worked on a similar project before.
In the long-term, Dream could prove profitable to investors if they fulfil their dream as laid out on their white paper.