Ignas Mangevicius is an Advisor at Dorado, Co-Founder of one of first ever successful ICOs, the ethereum based casino – Edgeless (+$120M market cap). Blockchain expert, co-founder of the p2p lending platform Savy and early investor in Dorado – the “Uber” on blockchain for all on-demand deliveries. This is a personal blog post of Ignas.
(Ignas is not a team member at Dorado, but an advisor and passive investor)
If you don’t know me, I became involved in blockchain community 2 years ago, in the earliest stages when it was still a very small and niche community. During that time I co-founded one of the first ICOs ever – Edgeless, a decentralized ethereum based casino.
I would say that since then the three most frequent questions I have received have been “What do you think about X company”, “Should I invest in X? and “Would you be interested in investing in X”. In the last few week alone I’ve received over a 100 such emails and messages.
Right now, there’s only a few companies that fit the criteria I’ve set for who to invest in, and the one that I’ve chosen to invest into is Dorado. So, using Dorado as the perfect case study, I’d like to give my fellow crypto investors an insight into why and how I make the investment decisions I do. And through that I hope I’ll also be able to help those investors make smarter decisions themselves.
To do that I will explain the thought processes behind choosing to go with Dorado:
Anyone can write a whitepaper with a cool idea. But few can actually execute that idea, and even less, execute it globally. I look for experience in business execution. I look for the team to covers all main business areas – business, marketing, technology and product.
What I liked about Dorado was that all its top top management had either founded or led successful companies before. The team also locks their tokens for 3 years (which should be a standard for all ICOs so that its ecosystem can evolve). This gives me the security of knowing that they are not in it for quick gains and it is also gives them great motivation to work 24/7 so that they can reap the benefits in 3 years.
- Business Model
I look for companies that have a strong plan for how to generate revenues and profits. It’s a red-flag for me if they don’t even mention this in their whitepaper. A business needs to have a business plan – again for the ICO ecosystem to evolve this needs to be standard. The business needs to have had a traction before it starts raising its millions. Only idea’s shouldn’t be raising this much.Dorado checks this box, as it is based on an MVP – the commercially available Foodout platform (foodoutgroup.com), which is already operating in 6 countries, with +50M in sales, 1M active users, +4M orders and 6227% growth in 3 years.
- Token Benefits
I ask two questions? What will I get as a token holder and how will the demand for the token rise? Dorado has a clear answer with 7% net sales commission bonus payouts to token holders within the ecosystem. The bigger they get, the more I’ll get rewarded. Again without an experienced team and a good product, this promise would mean nothing. That’s why I have “Team “ at #1. Also it’s great if the token can rise in value and at the same time provide benefits.
- Technology, Product & Key differentiation
These are my basic questions: Do they have a working product? Is it functional yet? Does it have traction with clients? What is their vision with technology? What is their key differentiator against competitors? Again Dorado has looked at the untapped market and looked at it from a totally new angle. Their smart city plan is visionary – to deploy network of “uber” like couriers to deliver any goods you want in minutes and on top to increase efficiency and reduce costs to add robots, drones and AI. They looked at the problem first, and only then at how to use technology and innovations to solve it. Some companies do this backwards. I’ve also used their viral product. Their current MVP is actually one of the top rated apps in Europe.
- How big is the market
I am not interested in teams that try to solve local or little problems. Me, as an investor is looking for teams and products that can scale globally. I am looking to invest into next “uber” with billions of revenues, the teams that have big visions and high ambitions, not next entrepreneur that will open a local app that will serve few hundreds of people.
Dorado is a next-generation on-demand delivery company, which has revealed that it plans to raise $69M via its ICO. Dorado has already ‘pre-heated the oven” by raising $4M from institutional investors, including the ICO-focused Goldfish Fund, and it plans to offer the remaining allocation to the general public.