The DigRate has assigned Quality Rate High to IZX project.
IZX is a platform implemented on a blockchain for constructing effective communication between sellers of goods (services), their consumers and game developers of augmented and virtual reality. The project's founders intend to create a new niche in the digital advertising market, encouraging developers to integrate their applications with the decentralized marketing platform of IZX.
The project team identified the problems of the modern online advertising and offline business market, and also presented a business model in which the main source of the project's income is the commission fees for the use of the network infrastructure. IZX tokens is a virtual asset for the transfer of values between developers, players, and advertisers, within which virtual prizes become real, and players become customers.
Companies on the IZX platform play the role of advertisers and conduct marketing campaigns to engage new or retain existing customers. Advertisers buy tokens for advertising campaigns, and players collect them through the application and can exchange for real values in the form of a discount, gift, special offer or other reward.
Developers have already built in the platform the first game of the same name (available at Google Play and Apple Store) with elements of augmented reality (AR). Until the end of 2018, the platform plans to launch three new AR-games.
The project team has professional experience in software development, finance, and marketing. The project is supported by strong advisors and well-known experts in the field of blockchain, although information about the experience of the IZX founders in the implementation of a successful business in the project field is missing.
Information on project support by VC investors has not been revealed. The project’s website lists a number of companies, named partners, but there is no detailed information on this issue.
At the time of drafting this review, the level of the marketing campaign activity is not high enough. There is also a low activity of the project discussions on blockchain news resources, but despite this, the mobile IZX game, integrated with the platform of the same name, managed to attract more than 30,000 active users.
Despite the fact that the game presented by developers is a direct analog of the famous Pokemon Go, IZX contains several cardinal differences from existing solutions. First of all, this is the economic benefit that all IZX participants get, regardless of their role. Taking into account the interest of the public in the games of augmented reality (Pokemon Go, where users do not receive money, but spend it, it was possible to attract more than 100 million players worldwide), as well as economic incentives for the token holders, it can be argued that the project has all chances for the successful implementation of the in-game economy. This hypothesis is confirmed by the results of public testing of the beta version and the mobile app of the same name. There is a risk of using the idea of IZX by large companies: Google, Microsoft, Apple, that are developing an ecosystem of augmented reality.
IZX is using advanced technologies (blockchain and augmented reality) and has a high potential for development and scaling, and the business model of the project is characterized by a medium-to-high probability of investment return.
More information about the strengths and weaknesses of the project can be found in our review.