Lucyd ICO Review: Next-gen Smartglasses And Augmented Reality Built On The Blockchain

When it comes to gadgets, few are cooler than smartglasses. They are futuristic, look great, and add an undeniably cool factor to the wearer, and useful too. Smartglasses have a wide range of applications, from taking photos or video, health and exercise monitoring and logging, and even automatic translation services. The possibilities for expansion into education and other sectors of the industry are certainly there. Now, the advent of blockchain technology has enabled the creation and development of decentralized applications that can support the actual hardware provided. This is exactly Lucyd’s proposition. This brand new ICO will supply next-gen smartglasses and a custom blockchain-based app store that community members can use to upload and share content such as gaming, sports, and much more. This piece is an analysis of the facts available about the Lucyd ICO. It should not be read as offering advice or a recommendation. While ICOs have quickly become a popular tool for funding projects and start-ups, they can also be very high-risk for token purchasers. Additionally, ICOs currently have an unclear legal and financial status. Token buyers may find that their purchase does not offer them any security or equity because the ICO is closer to a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence. Lucyd: Smartglasses & blockchain app Lucyd’s proposition is simple. The company will build next-gen smartglasses and also create an app store through which users can share and distribute content. This app will be built on a custom blockchain. Lucyd intends to become the first ICO to create a hardware product for the mainstream. According to its marketing blurb, Lucyd holds 13 augmented reality-related patents that will enable it to manufacture technologically advanced and ergonomic smartglasses. Lucyd in numbers & quick facts Augmented reality is the new frontier in computing, and #cryptocurrency is faster and stronger than fiat. We're combining them both in Lucyd Lens, to give you powerful, decentralized smartglasses. Join the #AR revolution now at https://t.co/XGO2gpR1Yc and reserve your pair! #ICO pic.twitter.com/pXpZ0eKV6H — Lucyd (@LucydLtd) December 13, 2017 Token Name – Lucyd token (LCD) Token Value – 1 LCD=0.25$ Token Pre-sale starts – October 17, 2017 Token Pre-sale ends – October 31, 2017 ICO Start Date – October 31, 2017 ICO End Date – February 28 , 2018 Number of tokens issued – 100,000,000 Number of tokens available during token event – 50,000,000 Soft cap – $1.5m Accepted currencies: All major currencies, including USD, BTC and ETH. The Lucyd token As with any other ICO, the company will issue its own currency, the Lucyd token (LCD). The LCD token will be issued on the Ethereum blockchain, and thus it will comply with the internationally agreed ERC-20 standard. Once created, the tokens will be allocated as follows: 50% – Token sale 30% – Lucyd 10% – Founding partners 10% – Development partners All unsold tokens will be burned. You can see the token’s usage here. The team Meet the Co-Founder | Exclusive Interview with Lucyd Media Lead Harrison Gross https://t.co/g1ysJdzSDg @LucydLtd #interview #insights #ico #ar — ChipIn (@Chipin) December 11, 2017 The company’s website presents a core team of six people, plus seven advisors. The site states that there are seven PhD holders among the team, which is rather impressive. The team features experts in Digital Media, blockchain software, optics, and other related fields. The amount of relevant, technical expertise on show here is notable. All team members feature a link to their LinkedIn profiles. Social Media presence and digital footprint Could @LucydLtd's #Blockchain-fueled SmartGlasses Lead the #AugmentedReality Revolution? https://t.co/q6QnS6t1GY #AR #FashionTech #Wearables pic.twitter.com/j0aPi1ypc7 — The Wearable Guru (@WearableGuru) December 8, 2017 A strong presence on Social Media is usually a good indicator of a company’s popularity, though it is not the only factor that determines success. Here’s the numbers for Lucyd at the time of writing (December 2017). Twitter – 15.2k followers Facebook – About 95k followers LinkedIn – 159 followers Instagram – 19.5k followers Telegram – 2,489 followers This ICO’s presence on Social Media is very solid indeed, which shows a degree of community building and interest out there. These numbers are much higher than the average ICO presence out there, so there is a lot of potential. Website quality & layout Check out our updated roadmap schedule. Stay posted to find out if we are coming to you area! #cryptocurrency #crypto #altcoin #preico #blockchain #fintech #tech #technology #wearabletech #wearable #Apps #science #startups #entrepreneur #startup #crowdfunding #kickstarter pic.twitter.com/3Xqi4jKWzC — Lucyd (@LucydLtd) December 8, 2017 An ICO’s website is key for potential investors, and if the site isn’t appealing enough, they will move on and forget about your proposition, no matter how good or viable it may be. Lucyd’s site is easy to navigate, full of useful, well designed graphics and schematics. It is mostly free of grammatical and spelling mistakes, and features a nice FAQ section, which goes to great lengths to explain what Lucyd is all about, and what it can offer. Overall, the Lucyd website gets a thumbs up. Whitepaper Lucyd is heading to blockchain conferences all over the world! Right now we're at the Cryptocurrency World Expo in Warsaw, and the Latin American Bitcoin & Blockchain Conference. Visit us at https://t.co/BQNcq9JScG or message us here to connect! #crypto #Bitcoin #blockchain #AR pic.twitter.com/nITWx1zi27 — Lucyd (@LucydLtd) December 4, 2017 A well laid out, informative, comprehensive Whitepaper is a must for any ICO, if they are to be taken seriously. Documentation is sometimes treated as an afterthought, leaving many companies open to some criticism. Lucyd’s Whitepaper is rather short, clocking up at 36 pages. A large chunk of this is taken up by long bios for the team members and the FAQ section, sections which are already featured on the actual website. Consequently, the paper’s content is rather reduced. This is not a flaw in itself, as many papers are padded out with wholly unnecessary material. In this case, the paper discusses Lucyd’s value proposition, the hardware, patents, etc., thankfully without falling into the techno-jargon trap that mars other Whitepapers published by ICOs. Overall, Lucyd’s Whitepaper ranks as ‘Adequate’. Conclusion Lucyd’s value proposition certainly has a lot going for it. The hardware item being fielded does have a lot of present and future applications, so potential investors will hopefully see the value of that. The ICO’s Social Media presence merits highlighting again, as it does mean that there is a lot of interest out there already. This interest may or may not translate into token purchases, that remains to be seen. This ICO may carve itself a market niche, as it intends to tap into a somewhat elitist and high-end sector of the population. The actual smartglass won’t come cheap, after all, so we’ll have to see how this one develops.