MeetnGreetMe is a blockchain-based international travel app that places individuals traveling to a specific locale that are in need of travel services with local users willing to provide those services. The company is set to hold an ICO for its cryptocurrency, the WelcomeCoin (WEL), in order to crowdfund further development of the platform.
What Is MeetnGreetMe?
MeetnGreetMe was founded by a trio of entrepreneurs: CEO Elena Shkarubo, product designer Nick Vyhouski, and CTO Andrew Gaidukevic. All three are from Belarus; each have a long work history of software development and business administration on their LinkedIn pages. The company’s core mission is to develop an online marketplace for local concierge-level service for international travelers.
MeetnGreetMe as a core service is currently active, with the company website reporting 724 members spread across 273 cities worldwide. There have been over 1003 service requests made across the platform to date, again according to the company website.
In order to expand MeetnGreetMe as a service, the company is holding an ICO to sell its WelcomeCoin. Coin pre-sale begins on December 11, 2017; while the presale is active, individuals interested in investing in WEL can purchase tokens at a discount on the following schedule:
- First 48 hours of presale: 25% discount
- Day 3 and 4 of presale: 20% discount
- Day 5 and 6 of presale: 16% discount
- Last 24 hours of presale: 16% to 10% discount, dependent on volume sold
Tokens are exclusively available for sale with Ethereum. Price per token is 0.0004 ETH.
Investing in MeetnGreetMe’s WelcomeCoin provides opportunities to use the cryptocurrency within the company ecosystem to purchase concierge services if you ever visit one of the locations where MeetnGreetMe Services. This is, of course, in addition to the speculative value that the WelcomeCoin may have, as it’s to be used as a currency within the platform itself.
Additionally, MeetnGreetMe has a “bounty” system where it rewards individuals that market and promote the company across the internet in order to drum up support. This takes several different forms but is mostly a social media campaign, and bounties are distributed dependent on several internal rubrics that are beyond the scope of this review. However, these bounties are explained in full detail by the MeetnGreetMe website.
MeetnGreetMe is a relatively typical modern ICO. This isn’t to imply that the company or its services are mediocre; it’s just that the “typical” ICO has come to represent a company that’s crowdsourcing a niche product or service that’s based on blockchain technology.
There are literally hundreds of companies launching ICOs at any given moment in the current economic landscape. In order for these ICOs to stand out and court success, the company behind the ICO needs to be innovative, iconoclastic, and disruptive enough to garner enough widespread appeal to sustain it in the long term, both to get the product or service off the ground but also to offer value to investors.
While we appreciate MeetnGreetMe’s concept and approach, we simply don’t know if it will have a broad enough appeal to flourish in this most-needed manner. While democratizing concierge travel services is a sufficiently niche goal, the prospective customer base for such services is relatively narrow. This, we feel, will ultimately inhibit MeetnGreetMe’s growth potential – and its potential to provide a return on investment for crypto investors.
We’re not necessarily counseling anyone to avoid MeetnGreetMe as an investment opportunity. However, as far as ICOs go, we just don’t see that the company is going gain enough popularity and user volume to provide high levels of value. Still, as the bar for investment remains very low with the coin’s initial valuation, investing conservatively in MeetnGreetMe’s ICO on an experimental level could possibly yield some positive results.
As always, ensure you don’t invest more than you can afford to lose. Keep your expectations modest and your risk low and you’ll be prepared in the case that MeetnGreetMe doesn’t pan out.