Oris Space Orgon ORGN ICO: Organized Prediction Market?
What Is Oris Space?
Oris.Space has developed a platform that allows users to earn money by answering opinion polls bought by marketers. The company interestingly describes its platform as capable of gaining insight into its users' subconscious thoughts; while this may be somewhat true depending on the questions it poses, it is ultimately a tool designed to conduct market research. Oris.Space is also releasing its own cryptocurrency, the Orgon, which will be the sole currency used by the platform.
The Team Behind Oris Space
Oris.Space is being developed by a relatively large team based in Kazakhstan. The team's four founders manage a team of fourteen software developers and marketing analysts, and rely on five consultants.
The project's website and whitepaper were translated into English only in December 2017, so it is still working to make an impact on English-language consumers. Its social media pages have very few followers and post primarily in Russian.
Oris Space Organized Prediction Market Technology
Oris.Space's platform offers two basic features: asking and answering questions. Users can either pay to create a survey, or be paid to answer them. Surveys can ask either yes/no or quantitative (“on a scale of…”) questions, and users who create them will receive poll results in percentages, with no information about the individual respondents. The platform also asks users to create a background profile about their values and opinions, which it uses to identify strange or inconsistent answers; this is to prevent users from creating programs that automatically answer surveys, and to reward users who disclose more honest and detailed information. All of the system's surveys, answers, user profiles, and token transactions will be securely recorded on the platform's internal blockchain.
Prototype versions of the platform have already been released for iOS and Android, but features are still being added and tested, and the Orgon token is not yet integrated. The app is available in several languages: it has already been translated into English, Russian, French, and Spanish, and the company plans to add Mandarin, Korean, and Japanese versions in early 2018.
Oris.Space's whitepaper contains several pages devoted to the subconscious, touching on Freud, Jung, and “the evolutionary spiral”; the company seems to sincerely believe that its product will lead to a profound shift in humans' self-awareness. It is true that the platform could become a powerful tool for sociological research; historically low participation in opinion polls has made qualitative research increasingly difficult, so paying participants could lead to better data. However, the platform will most likely become a magnet for marketers, because they are better funded and have a constant demand for data.
The company also mentions in its whitepaper that in addition to the Oris.Space platform, it hopes to develop several additional apps, including OrisPsy, a psychological testing platform, Oraculus, a game, and OrisAI, a module for the Oris.Space that will use AI to interpret questions' complexity.
Oris Space Orgon ORGN ICO Details
Oris.Space's Orgon currency is being released in three phases. During the first phase in January 2017, 100,000,000 tokens were released to investors to fund early development, and reserves were kept by the development team as well as for referral and bounty programs. The company is currently in its second phase, which will last until July 2018; about 83,000,000 more were released, and the tokens' price will steadily increase depending on how many have been sold. During the third phase, tokens will continue to be sold for nine months before their listing on exchanges, with the price dynamically determined by demand.
The company has stated that its ICO's soft cap is $40 million. If it fails to raise this amount by July 2018, a smart contract will automatically refund investors.
Orgon tokens will be used internally on the Oris.Space platform; users who create surveys must pay for them with Orgon tokens, and users who answer them will only be paid in the currency. Thus, the platform's popularity will directly determine demand.
Oris Space Verdict
Oris.Space's platform sounds like a powerful tool for marketers or anyone conducting a survey, since they could gain a great deal of data from eager participants. However, using its own internal currency could deter users not interested in this technology, and it must improve its English-language marketing campaign if it hopes to gain an international audience. Investors interested in the Orgon token should pay attention to the platform's popularity.