At Blocksmatter, it is our goal to make the crypto market more transparent and accessible, especially for professional investors. By doing so, we constantly screen the ICO market, evaluate to actual opportunities on the market and perform in-depth ICO assessments in order to provide an independent and professional second opinion.
Modex was just such a case and what grasped our attention on Modex, was the obviously interesting business case to build a marketplace for Smart Contracts and DApps. But what made us even more interested, was the way how this whole concept is set-up as a DAO (Digital-Autonomous-Organization), as well as the tokenomics and how the Modex Token can create an increasing value in a closed eco-system. At the beginning we had some constraints regarding the amount the company wants to raise throughout all their ICO’s rounds. But after studying the documents and talking to the CEO Mihai Ivascu and his team for many hours, we understood that this project follows clearly the mission to build a worldwide community of Blockchain developers and partners, with the goal to accelerate the mass adoption of the Blockchain technology and provide an easy access to the necessary resources. The majority of the raised funds will be invested in building up this global community, providing infrastructure to the independent developers and pre-fund their work until the business model achieved its “mass use”. During the development time over the past months, Modex has already conducted several hackathons, has closed several partnerships around the world and claims to have already more than 1000 developers on-boarded. As the financial planning shows, the company itself does not promise huge revenues and profits, rather the value is created by and for the community.
To go a little bit more in detail, Modex was founded by Mihai Ivascu and his team having already successfully developed a mobile payment solution Moneymailme (https://moneymail.me), which has been awarded as the best social payment app in UK 2017. The team than started to discover the cryptocurrency space as another way for money transfer and figured out that this will require new special developments in the way of Smart Contracts. At this point of time, it was difficult for them to find experienced Smart Contracts developers and as it was necessary to develop several smart contracts to run a crypto-payment solution within their Moneymailme App, they decided to start their own development and even build a development environment for Smart Contracts, based on Solidity of the Ethereum foundation. And as they’ve seen the potentials of Smart Contracts in many use cases and a clear lack in access to smart contracts developers, they started to develop the concept of the Modex Smart Contracts and DApps marketplace.
Since than, the company has been able to develop their marketplace and release a first version on march 15, 2018. Due to their active community building, such as organising smart contract hackathons, Modex claims to have already a potential of more than 1000 developers joining their platform and so far listed 65 contracts, sold 114 and created 87 compilations. How big the interest and the community already is, can be seen in their Telegram group, which as of today april 17 counts more than 26k members, more than Cardano with 18k members, Waves with 17k members or IOTA with just 12k members.
Modex also raised the attention of several global medias and the CEO Mihai Ivascu was even a guest at Quest means Business on CNN on april 5 this year.
Modex is still in its pre-sale ad will than offer their tokens to the broader mass through their public ICO.
We wish Modex all the best in their ICO and further development as we believe in the potential and the set-up of the company to accelerate the mass adoption of smart contracts and DApps on a global scale.
Download: ICO Assessment-Shot-Report-Modex
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