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October 11 2017

ICO Alert Report: Opporty

ICO Alert Report: Opporty

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What is Opporty?

Opporty is a service marketplace on the Ethereum blockchain. It takes the best of blockchain technology (with all of its security, resilience, and impenetrability) and the on-demand business model, establishing trust in B2B and B2C interactions. Opporty takes business transactions to an entirely new level by creating many opportunities for cost-efficient lead generation and brand promotion.
Opporty caters to small and medium businesses that suffer stiff competition from established brands and corporations. Our goal is to assist small businesses in becoming more competitive by means of technology. Specifically, Opporty solves two fundamental problems: the problem of promotion and the problem of implementing standards to establish trust. Through strong smart contracts, decentralized escrow, and innovative knowledge-sharing and lead-generation systems, Opporty gives smaller businesses a supportive platform to help them survive in a competitive environment.
The Opporty team is eager to revolutionize the way small and medium companies do business, by creating a business-focused, decentralized, self-governed community. The Opporty community establishes specific standards and educates other members of the community. These functions are within the realm of possibility due to Ethereum blockchain.
— Sergey Grybniak, Founder

Q&A

ICO Alert: How does the Opporty token (OPP) function within the platform, and why is it needed?

Opporty: The Opporty token, or OPP token, is an ERC-20-standard cryptocurrency, built in to Opporty’s marketplace to purchase platform-provided services, to pay other users for their services, to invest in advertising on the platform, and more. An Ethereum-based currency, the OPP token is absolutely crucial to Opporty’s functionality and overall performance.
Firstly, OPP is used as an alternative currency to fiat: users can pay for anything on the platform with tokens. Opporty supports USD and other fiat, yet we encourage users to rely on our tokens for within-platform payments to purchase offers, pay for third-party services, upgrade accounts, and so on. For instance, we reward users with OPP tokens for completing specific actions within Opporty’s knowledge-sharing system.
Secondly, the OPP token is used in smart contracts, as they are token-based by default. If users choose to sign a smart contract, payment will be in tokens. Escrow commissions withheld to resolve arising conflicts are also paid in OPP tokens.
Without the OPP token, we would not be able to efficiently support many of Opporty’s key features, such as smart contracts, oracles, and decentralized escrow. I predict that the OPP token, given its broad adoption at Opporty, will be a huge success at our upcoming ICO.

ICO Alert: Why is a platform like Opporty needed? What is the incentive for small businesses to utilize this platform and who are Opporty’s main competitors today? To what existing business could Opporty be compared?

Opporty: As I mentioned earlier, Opporty solves two fundamental problems faced by small and medium companies in their day-to-day operations:
The problem of promotion.
The problem of implementing standards.
Imagine that you own a small law office in Brooklyn. Though you may have enough clients to support your operations, you want to bring in more customers. But how are you going to attract them? Digital marketing seems like the best solution, but it is complex and expensive. Moreover, you will never be able to compete with bigger law firms, simply because they can invest more in their marketing campaigns.
Another problem is that your competitors may be much more efficient at what they do, simply because they rely on standards. You may have tried to implement standards in your firm as well, but failed because nobody followed them, and you did not have time to control and oversee every step taken by your employees.
To compete successfully as a small law firm in Brooklyn, you will need much better marketing and an entirely new way of establishing and controlling the standards of your company’s day-to-day operations. This is exactly what Opporty offers to small and medium businesses.
Utilizing its knowledge-sharing system, Opporty enables small businesses to increase awareness, improve exposure, and build trust, all for free. Moreover, Opporty rewards users for contributing their knowledge and expertise to the community with OPP tokens. The ecosystem of requests, offers, and responses also helps companies appeal directly to targeted audiences, to increase conversions.
Moreover, Opporty’s extensive use of blockchain to power smart contracts, oracles, and decentralized escrow solves the problem of standards. Opporty allows for self-governed communities that establish their own standards of doing business. Experts who standardize rules and regulations are selected by individual communities based on their knowledge and expertise in the corresponding industry. Experts participate in drawing up smart contracts and resolving arising issues by acting as escrow arbitrators.
Standards are built into Opporty’s marketplace by default. Smart contracts guarantee that all parties follow the same rules, while decentralized escrow makes sure that all arising issues are resolved in an efficient, unbiased manner.
Opporty faces fairly strong competition from other online service marketplaces. Basically, we have to solve two problems:
1. Strong competition in specific industries.
2. The novelty of blockchain technology.
Let’s start with the first problem:
Although industries differ from one another, all are subject to similar patterns of competition. To illustrate this, let’s look at one of the most competitive niches in the United States: legal services.
Currently, there are around 20 established companies servicing this niche. Some of these companies are niche-oriented, while others have a presence in other niches as well. Some of the niche-oriented companies are marketplaces, while others rely on the Uber-of-X model. Meanwhile, there are between 100 and 1,000 smaller not-yet-established companies operating in local markets. By default, they are not big enough to be featured in the top 20, yet collectively they hold a much larger share of the market compared to the top 20 companies. .
The cherry on top is that none of Opporty’s competitors have implemented decentralized escrow or utilized flexible community-approved service standards. We expect these two features to enjoy massive popularity.
Of course, many people have never heard of blockchain, and have no idea how to use it in the real world. However, as with many new technologies, in the not-too-distant future blockchain will become universally understood and adopted as an invaluable business tool.

ICO Alert: Does Opporty currently have users, or support a network of any kind? If not, how does the team plan to create a network effect?

Opporty: Opporty is already an up-and-running project. We do not yet have tens of thousands of users, but we are working hard to attract them by listing Opporty in directories, reaching out to influencers, and finding partners in corresponding niches. At this stage, our priority is to establish a base for businesses and service providers in the legal services niche.
The Opporty team is experienced in digital marketing and I am pretty sure we will kick off a network effect over the next few months. Opporty caters to small and medium companies who are always searching for additional channels to offer their services, and we provide them with an above-average one.
Firstly, we attract service providers, creating a network effect. Once they close a deal at Opporty, they will tell others about it. Secondly, as our base of service providers continues to grow, the supply of customers grows too. Service providers start to compete for customers, offering better deals and upgrading their services. Thirdly, better deals attract satisfied customers, who in turn share the news and cement Opporty’s position in the market.
The Opporty team is pushing hard to create a solid network around the platform and the effect is visible. Early offers and requests have already been submitted, so we already have sufficient momentum to keep the ball rolling.

ICO Alert: Opporty provides lead generation and marketing opportunities for small to medium sized businesses. What makes Opporty different and better than larger services like HubSpot, who essentially provide the same opportunities?

Opporty: Lead generation is one of the integral features of Opporty. However, Opporty is not a traditional lead-generation platform like HubSpot or Salesforce. Opporty helps businesses get leads organically, while traditional platforms are just tools to purchase leads through bidding.
Businesses cannot buy leads at Opporty. They need to attract and convert them first. Opporty is more like Google, where you have to put in some effort to reach the top. The key difference with Opporty is that you do not need to compete with the entirety of the Internet. Opporty’s lead-generation and knowledge-sharing systems work together to ensure that every registered company and service provider can easily reach targeted audiences and efficiently order required services.
The lead generation system consists of requests, offers, and responses. Smart filters and AI-powered suggestions help land the best deals. Moreover, requests and responses are free to registered users. Offers are paid for, but a complimentary monthly amount is assigned to each user upon registration, which is also free. At Opporty, businesses and service providers can get their first clients and customers without having to pay a single dime.
Opporty’s knowledge-sharing system complements lead generation. By sharing their knowledge and expertise (e.g. articles, infographics, answers to questions, etc.) with the community, businesses increase awareness, improve exposure, and build trust, enabling them to cement their position at Opporty and find customers quickly and easily.

ICO Alert: Is there a use case for small businesses that the team sees as a home run for the Opporty marketplace?

Opporty: Absolutely. There are a number of use cases. Let me illustrate one of them using a small accounting firm in Dallas.
Mary, the owner of a small accounting company, has worked in a multinational corporation for years and knows pretty much everything about accounting for law firms. She leaves her corporate job and kicks off her own business. Now she is on her own. She has a couple of clients to get her started, but how can she grow her company to increase revenue?
This is exactly where Opporty comes in. Mary realizes how complex and costly digital marketing can be. Search engine optimization takes time and money. Pay-per-click marketing is fast, but ridiculously expensive. Social media marketing is a matter of chance rather than strategy. She registers at Opporty, a blockchain-powered service marketplace with innovative knowledge-sharing, and starts contributing content to the community. She is quickly noticed because her knowledge and expertise are valuable, and she now has a chance to appeal to potential customers — accounting firms in the Dallas area. Moreover, Mary creates a niche-focused offer to directly target new clients.
Obviously, it will not take much time before Mary finds a new client. Yet Mary is not sure if she will get paid for her services in a timely manner, so she chooses to sign a smart contract, drawn up by community-selected experts and backed by Opporty’s decentralized escrow. In the event that her customer is not satisfied with her services, they will be able to decline the payment to Mary through automated oracles, and escrow is initiated.
Mary knows that Opporty implements decentralized escrow, meaning that its arbitrators are selected by self-governed communities on blockchain, not by the Opporty administration. She is confident that her case will be scrutinized and analyzed by experts who will not artificially favor one party over another. Escrow arbitrators vote in Mary’s favor, and she receives payment for her services, which have been held in an escrow account.
Time flies, and Mary keeps contributing to Opporty’s community. Her expertise is unprecedented, and she is selected to join the board of escrow arbitrators. Now she enjoys many benefits, including priority placement, and she takes part in establishing rules and regulations in the accounting industry, improving existing standards and creating new smart contracts.
Mary’s use case demonstrates how Opporty solves the problem of promotion through knowledge sharing and lead generation, as well as the problem of standards and trust, through smart contracts and decentralized escrow.

ICO Alert: The Opporty team is selling ad space and promotion on the platform. How will this work and is there any chance of advertising hurting the user experience?

Opporty: While it is true that users can purchase ad space and priority placement, this is just a minor part of what Opporty does. We have many ways to monetize the platform, and we will not risk hurting user experience. Thus, only a few ads will be prominently displayed.
The important thing here is that AI algorithms will become an integral part of Opporty soon, and they will analyze and suggest where to display ads, and how to place companies in Opporty’s listings. This will help cut errors out of the picture.

ICO Alert: Opporty rewards users for contributing content. How does this process work and what can users expect to receive on average?

Opporty: Opporty rewards users for many activities besides content. For instance, users can get tokens for filling out profiles or receiving the largest number of likes for their posts. They may also get rewards for the number of comments, best reviews, time spent online, popularity in their category, and so on. Presently we have around 50 rewardable actions, which are subject to change.
Let me say here that tokens are not all that important. We do not intend to pay people for generating tons of content. The knowledge-sharing system encourages registered users to complete certain actions to benefit the community. For example, by rewarding the user whose post was liked the most, we encourage this user to keep up the good work and contribute even better content to Opporty.
Moreover, contributing content leads to improved status and badges, which are much more valuable than actual tokens. For instance, if the user is recognized as “The Best Opporty Contributor,” it signals to prospective customers that the rewarded user can be trusted. Users with earned status and badges enjoy priority placement and are eligible to become ruling and voting members of Opporty’s escrow.
In other words, the system of rewards allows users to earn money. Whether they are just rewarded for activities with tokens or they generate leads through priority placement, their revenue will increase in one way or another.

ICO Alert: How far along is the project today? What does the roadmap look like for the rest of 2017 and 2018?

Opporty: One of the most important milestones, the Opporty ICO, will begin on March 20 and close on April 20.
As to the actual features, Opporty is presently equipped with basic functionality. Users can submit requests and offers, leave responses, and contribute content to the knowledge-sharing system. Of course, more exciting features are on the way.
Once the token sale is over, we will push hard to implement gamification features and the rewards system. We plan to start rewarding users with OPP tokens in December 2017. After that, we will spend several months preparing for multi-language localization. Our plan is to support not only English, but also Chinese and Russian, beginning in February 2018.
Our stacking mechanism is to be implemented in March 2018, while escrow support will be launched in June 2018. The first AI-powered chatbots will go online in August 2018. AI-enabled service ranking and oracles will be available in September 2018.
In November 2018, Opporty will enter Phase II. We will run a second ICO to raise more funds to continue improving the project and adding new features. There is no denying that our plans are optimistic, but the Opporty team is ready to put them into action.

ICO Alert: Off the topic of Opporty, can you offer any unique predictions on cryptocurrency and the ICO space in the near future? Where do you see the industry in 3–5 years?

Opporty: What we are currently experiencing is a huge bubble, similar to the one we saw before the dot com crisis. That bubble will likely burst, sooner or later, although we cannot predict when.
The good news is that this bubble has been very lucrative so far, attracting the brightest minds to develop blockchain as an industry. Based on that single fact, it seems pretty safe to say that blockchain technology will continue to develop at lightning speed in the near future. Very soon, blockchain will hold a significant place among real-world companies and services.
However, when the blockchain bubble bursts, many projects will burn to ashes. Only a few really impressive and promising projects will survive. Today, many blockchain-powered companies exist only because the bubble attracts massive numbers of investors. I am very aware of the danger. This is why Opporty is closely connected to real-world services and markets. Opporty will survive, along with other projects that offer real-life value and solve real-world problems. Amazon and Google survived the dot com crisis, and the “blockchain bust” will be pretty much the same, with valuable companies continuing to grow.

Crowdsale Information
The crowdsale begins on March 20, 2017 and ends on April 20, 2018. There is the following bonus structure incentivizing early contribution:

First 24 hours: 20% bonus
2–3 days: 15% bonus
4–8 days: 10% bonus
9–14 days: 5% bonus
15–21 days: No bonus

There is a soft cap of 1,000 Ether and a hard cap of 50,000 Ether. There are a total of 300,000,000 Opporty tokens (OPP) being sold during the crowdsale. There will be a second phase of the crowdsale no earlier than one year from the completion of the crowdsale.

Token Distribution Information
OPP tokens are ERC-20 tokens and only Ether is available as contribution during the crowdsale. Contribution should be sent from an ERC-20 compatible Ethereum wallet, not from an exchange wallet.

There are a total of 1,000,000,000 OPP tokens being created with 30% (300,000,000) available for purchase during the crowdsale. Tokens will be distributed to contributors upon completion of the crowdsale. $15,000,000

Allocation
Crowdsale (Phase I): 40%
Crowdsale, Phase II (at least one year later): 25%
Company long-term incentive alignment: 30%
Bounties and community rewards: 5%
Unsold Tokens are burned

Use of Crowdsale Proceeds
Marketing: 15%
Development: 35%
Community engagement and rewards: 10%
Business development: 20%
Other operational expenditures: 10%

Team
Sergey Grybniak, Founder
Linkedin
Sergey Grybniak has 12 years of digital marketing experience. He has successfully run advertising campaigns in the U.S., EU, and CIS. He built and has grown Opporty from one person to a team of over 50. Before founding Opporty, he co-founded clever-solution.com, a website focused on development and digital marketing services for startups and other small to medium sized businesses.

Katerina Sukhenko, Product ManagerKaterina is a product manager with five years of experience managing projects. She is experienced in project prototyping and workflow planning, and is responsible for strategic decision-making. Additionally, she is responsible for the cohesion and productivity of the team. She has previous experience as a project manager.

Emil Dudnyk, Developer
Linkedin
Emil has seven years of experience in web development. Before Opporty, he held two other web development positions.

Vadym Huza, Developer
Linkedin
Vadym is a JS developer who works closely with the Opporty web developers to build highly functional interfaces. In addition to his experience as a web developer, he works with JavaScript, React.js, and MongoDB. Before Opporty, he held two other web development positions.

Nikita Lakisov, Developer
Linkedin

Nikita is a web developer with one year of experience in JS projects built on React.js, Ember.js, PostgreSQL. Before Opporty he worked in telecommunications as an engineer.

For a full list of Opporty team members scroll down to the team member portion of the website.

Social Media
Facebook: https://www.facebook.com/Opporty-ico
Twitter: https://twitter.com/Opporty_ico
Linkedin: https://www.linkedin.com/company/opporty.com
Youtube: https://www.youtube.com/channel/UCY67MAMSOTqtBnNBdqaUl_g
Telegram: https://telegram.me/opportyico
Medium: https://medium.com/opporty
Bitcointalk: https://bitcointalk.org/index.php?topic=2172536.0
Steemit: https://steemit.com/@opporty
Github: https://github.com/opporty-com/ICO

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View the Opporty Website here.

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References
(1) Opporty Website, Opporty, (2017)
https://opporty.com/ico/

(2) Opporty Whitepaper, Opporty, (2017)
https://opporty.com/ico/uploads/OpportyWP-crowdsale-starts-October18.pdf?_=1507660223777

Topics: Business, Blockchain, ICO, Cryptocurrency, Finance