WONO – Share What You Have Get What You Want
WONO is a P2P platform for rentals and freelancing. Thanks to Ethereum blockchain and the Interplanetary FIle System (IPFS), the platform and community are decentralized, which allows users to interact without a middlemen. WONO combines functions of Airbnb, Turo, Upwork and TaskRabbit on blockchain. WONO solves 5 major problems of P2P economy: high commissions, taxation of vendors, non-transparency of ratings and reviews, currency exchange loss and risk of fraud and deal cancellation. WONO users can act in 4 different roles at the same time: vendor (rent smth out or perform jobs), customer (rent smth or post a job), guarantor (stake for successful deal termination) and arbitrator (determine affected party in disputes).
- Tries to solve important market problems;
- Token economics has limited token supply;
- Has diverse team and advisers;
- Project got 21 thousand subscribers on Telegram;
- Absence of industry focus: car rental, hiring freelancers, real estate, gym memberships is too broad market field;
- Team doesn’t have enough relevant experience;
- MVP is not ready;
- Business model wasn’t tested;
- Relatively high price per token during pre-ICO period;
- $20,000,000 Hard Cap is hard to achieve with this market;
- Bad ICO timing;
- Absence of competitive advantage
- Serious competition from existing platforms;
- Weak, unfavorable market;
- Business model relays on token economics which has serious flaws;
- Doesn’t have loyal customer base and there is no guarantee that it will be able to build it
- WONO has unlimited scalability potential;
- Project has space for geographical expansion;
Overall, in my opinion, team management lacks relevant experience. CEO of WONO, Alexander Esaulov has previous experience as co-founder of fitness show, which doesn’t have any relation to IT or blockchain industry. I also don’t like their greediness: 20% of tokens will remain in team ownership, plus additional 12% in reserve and 5% for advisers. Despite negativity, there are some positive sides: WONO has good developers, such as Amrinder Singh, a high-skilled fullstack developer, and two AirBnB managers.
Summary: There are too many weak spots and flaws in the project, which doesn’t need bloclchain at all. Company tries to combine business ideas of AirBnB, Turo and TaskRabbit at the same time, which is hard to achieve. Weak, bearish market, bad marketing and inexperienced management is unlikely to be a key to success. The best way for them to prove me wrong – is to become successful. But for now, they can do that without my investment.