Community post
ICO Comparison: SelfKey (KEY) vs. THEKEY (TKY)
The interface between physical and digital world is currently still a quite easy target for fraud. This will hopefully change in the not too distant future as a result of blockchain-based solutions that enable trustless online identification and authentication.
Two interesting ICOs with a quite similar approach are just about to come this month: SelfKey (KEY) and THEKEY (TKY). As there are already ICO reviews about the projects here and here on steemit, I won't get into too much detail.
Instead, I just want to provide a short overview:
Token: KEY
1 KEY = 0.015 USD
Total Tokens: 6,000,000
Platform: Ethereum
Twitter-Follower: 12.7k
Whitelist: Yes
https://token.selfkey.org/#/guest/signup
ICO-Start: 1/14/2018
Token: TKY
1 TKY = 0.0134 USD
Total Tokens: 10,000,000
Platform: NEO
Twitter-Follower: 12.7k
Whitelist: Yes
https://www.thekey.vip/user/register
ICO-Start: 1/15/2018
So where do both projects actually differentiate? In my opinion, THEKEY looks a bit like a copycat of SelfKey. But at the same time they are better at marketing it and they target the Chinese market, which right away gives them a huge potential. SelfKey on the other hand has a better looking product thus far.
So my summary would be that we can decide between product (KEY) and marketing (TKY) here. Believing (or hoping) that communities are more important tha marketing, I'd probably go with SelfKey. On the other hand it might no even be an 'either or'-decision as both projects could be successful at the same time in different markets.
What do you think? Do you see one of the projects or even a totally different one with a clear advantage in their value proposition?
Leave your comments below - I'd love to see your opinion on the topic.
Replies (4)
It seems TheKey targets the domestic Chinese market and has already reached a significant number of contracts/partnerships with large private and public companies in China. Names like Alibaba and Unicom have been cited by their CEO: https://www.reddit.com/r/thekey/comments/7o634g/thekey_have_signed_contracts_with_alibaba/
But the ICO itself was the worst, I've ever participated in (or tried to...).
No admin in the Telegram group, all sites down - not really professional, so I'll not buy in. I see selfkey as more attractive right now, but that's only my humble point of view.
I think you got that the wrong way around. THEKEY is the professional company with a working product. SelfKey tried some amateur marketing tactics by launching with a similar name in the same week.
They did explain that. Getting DDOSed by a botnet of over 250,000 computers would tend to bring most sites down. Agreed, the Telegram chat descended into chaos and should really have been muted. However, I'm sure the team had other issues on their mind at that point. They did give bonus tokens to everyone who had their KYC verified and couldn't get in by way of compensation.
I had planned to buy at ICO but couldn't because of the technical issues. However, I received my compensation tokens and have bought twice since then. It is a project that I think has a very bright future. They are continually making good progress and are good at keeping people informed. Despite the chaos during the ICO, they are still one of the best ICOs to have been launched on NEO.