TE-FOOD ICO Analysis | Tracking Food Supply Chains with Tokenization
- Total Supply: 1,000,000,000
- Available in Sale: 512,000,000
- Hard Cap: $19.1 million for 51%
- Market Cap: $37.5 million
- Token Type: ERC-20
- Ticker: TEFOOD
- Pre-Sale: Private, 16 900 ETH raised
- Whitelist: Currently closed due to high demand, but may be reopened – check website for details
- Public Sale Live: February 22nd, 10:00 GMT
- Weekly Bonuses: Week 1: 15%, week 2: 12%, week 3: 10%, week 4: 5%
- Volume Bonuses: $5,000+: 5%, $20,000+:10%, $100,000+: 15%.
- Token Distribution Date: Immediate
- Website: https://ico.tefoodint.com/
TE-Food are building a solution for tracing food along the entire supply chain, from farm right the way to retailers. Their focus is currently on emerging markets, providing tools for consumers, businesses and government authorities to easily and securely validate the source of food. The project has a strong team with a lot of experience in the industry, many existing partners and a working product. Compared with similar projects in the same field, the low market cap makes TE-Food an attractive investment.
- Existing business currently serves over 6000 customers, tracking 12,000 pigs, 200,000 chickens, and 2.5 million eggs on a daily basis.
- Low market cap compared with similar supply chain projects e.g. VeChain, WaltonChain.
- Working products include physical identification tools, mobile apps and web based software solutions, as well as a consumer app for retail.
- Several big industry partners that process large volumes of foods, should result in high token utility and appreciation.
- Strong, experienced team - currently 30 employees.
- Currently only implemented in Vietnam, whose government showed a distaste for cryptocurrency by banning all Bitcoin payments late last year.
- There is no guarantee VE-Food will be able to replicate success and business model outside of Vietnam, though they have an impressive roadmap for expansion into 17 countries within 5 years.
- Supply chain projects are very popular in the crypto sphere right now, meaning there could be quite a lot of existing competition from established players such as VeChain and WaltonChain.
Disclaimer: Readers should do their own research before investing funds in any company, cryptographic asset or piece of equipment. CoinDrift shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.