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Nexus social ico decentralized social network ICO review




We are starting reviews of ICO projects that are going on now or will
take place in the nearest future. Today we will review the Nexus
project. It is a secure and private decentralized social network.

Looks
like this guy - Jade, meet him, you can see his video. He worked on his
social network for 2.5 years. He got web app, iOS and Android app. He
or his team did very nice job. They have an MVP (minimum viable product)
which is very nice for an ICO to have.

There is a bunch of stuff that they want to integrate.

Instant messaging, market place... Looks like facebook icons to me.

Well...
Let's take a look at their roadmap. They had launched nexus in the mid
2016. Lets take a look at their iOS app. Here are some screenshots.
Looks nice. They have simple instant messaging already. Reviews... only
one. That is not a lot. Updated on November 19, 2016.

Let's take a
look at the mobile app for the Android. Looks like the one that was for
iOS. All the reviews are in August this year. They were done right
before the ICO. Not so many reviews for a project that is already a year
long.

Let's move on and take a look at their whitepaper.

The most
important part for me is coin distribution. No coins are offered for
bounties as all bounty payouts are in Bitcoin. Not bad. Looks like those
guys already got some money. They raised some money during presale.
Good for them.

Let's review how the funds will be allocated.

65% towards development, 10% each - security audit, legals and advertising and 5% for hardware upgrades.

First
of all I had noticed that do not have anything about the team so I
assume that the team is part of the development share. They have only
10% for marketing which makes me think that they are very confident
about their project and that they think it does not need a lot of
advertisement. Probably they think that ICO investors will be users who
will get involved into social networking activities. I do not see
anything about the Escrow so they do not have one. It means that Jade
can use the money the way he wants. By the way the company is registered
in Australia. Hello, Australia!

Let's review their social
networks. They got pretty much everything reddit, youtube. Let's review
their youtube. They got 4 videos. The earliest one two weeks ago right
before the ICO.

Not so many followers on twitter for a social
network. They only started twitter on July 26. The reposts, no comments.
44 reposts having 312 followers. Looks like they got pretty active
audience.

Lets see what they got on the reddit. Well, only basic answering of the questions. That is how it looks to me.

Alright.

Let's take a look at their roadmap one more time. So they are planning to
raise money. Then they are planning to release by the end of the year
new version of front end. How many developers do they have now? Two.
Jade and Mo. Well... pretty ambitious for two developers. Of course I
hope they will use 65% towards development and that will help a lot to
get the team. But the problem is mid of August you need to build the
team very quickly to make a release by the end of the year. That is
achievable. But according to everything that they have... they are
planning to update the backend, integrate social coins... We wish good
luck to the team. I hope it is not another scam. ICO will be for the
next 30 days. I will leave the link down below.

Well. I am trying to be as critical as possible and I hope you guys will do your own
conclusions before you will start doing any actions review their website
one more time, look at the team, look at their social network.

Under this video you can leave comments if you had invested in this company
or did not invest. And why? It will be very interesting to know why you
did not invest. And I hope that this project will succeed. As for me
there are a lot of decentralized social network right now that are
trying to do their best at that market. We will see. Only time will show
who will be successful.


https://ico.nexus.social/
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