Munchee ICO

Munchee in brief:

Blockchain-based incentivized restaurant review platform (Think Yelp, Zomato on the blockchain)

Business model:

Restaurants buys the tokens and offers them as a reward to users for their social activity related to their experience at the restaurant. The same tokens can also be used to purchase advertising on Munchee channels. Token holders can use them as a payment method at participating restaurants.

The white paper does not neglect the future opportunities where MUN tokens can be used for purchase of products and services from partner restaurants or businesses

What problem does it solve?

False reviews on existing platforms and manipulation to secure ad revenue
No incentive for the end-user unless they want to post a negative review
Hence, Munchee can fill that gap and incentivize ecosystem participants

What else makes it interesting?

• Mobile application already available in the US, public beta was launched in early 2017. iOS application was launched in Spring 2017 and Android version is expected to release soon
• Already has 3500+ Instagram followers and 16K Facebook followers
• Munchee plans to implement a in-app token membership plan by participating in the growth of the platform and move to higher membership levels (5 levels) - this will be based on tokens accumulated (400+ will be platinum) - this incentivizes participants to hold the tokens - higher ranked users will benefit from greater incentives as well

Token Sale:

Finite supply of 500 MN tokens
225 MN will be listed for token sale events
275 MN will be held in reserve by the company - these tokens will be offered to contributors, new restaurant listings, bounty, team, etc.

Pre-sale: Oct 31st onwards for first 25% of tokens at a discount of 15% (1 ETH = 5294.117 MUNs)
Sale Event: Nov 8th onwards with 2 tiers of 10% and 0%

Within 30 days of sale, MUN will be traded on at least 1 US based exchange

35% will be applied to marketing, user acquisition and promotion
40% of funds will be applied to development team, 10% to legal, 15% reserved for maintenance

Token Burn:

No clear details are shared but the white paper says that Munchee can potentially choose to burn a small fraction of the tokens every time a restaurant pays Munchee an advertising fee

Team:

Sanjeev Verma, Chelsea Lam & Nghi Bui are co-founders - they all have strong credentials
Advisors include Loi Luu (co-founder of Kyber network, Smartpool), Nick Ayton (Top 21 Blockchain influencer) and a few other interesting people

Development Roadmap

2017 Q4 - Token sale
2018 Q1 - Improve mobile app and restaurant database, enhance app and add features
2018 Q2 - Begin development of token smart contract and network integration, launch of user acquisition and marketing campaigns with a focus on US, Korea to begin with
2018 Q3 - Begin to setup in-app wallets for end-users, second smart contract to record fingerprint of reviews
2019 Q1 - Third-party audits, food delivery partnership agreements
2019 Q2 - Release new website for just restaurant owners and managers, web-based wallets for restaurants
2019 Q3 - Integration of food delivery on the platform

Sign up:

If you find this information valuable, you can use my affiliate link to register for the token sale:
https://token.munchee.io/tokensale.html?chainstarterRefCode=136

Minimum contribution is 0.33 ETH

Happy investing!