Hype rating: 8
Description: SPN is a flexible, ERC20-compliant cryptocurrency that will incentivize quality content, power all platform actions, and serve as the backbone of our tokenized economy.
Both co-founders are Berkeley students, but not too experienced. They have strong advisors, such as Latif Nathani, ex CEO of eBay India.
We are not huge fans of decentralized social news platforms (such as Steemit), as they are full of spam and haven't really proven their worth so far. However, we give the project a high score for product status, as they already have a working beta available.
"Sapien is a highly customizable, democratized social news platform capable of rewarding millions of content creators and curators without any centralized intermediaries. Sapien is powered by an ERC20 compliant cryptocurrency called SPN. The Sapien network will rapidly evolve to include a marketplace, various integrations, and third-party applications."
While social media and media markets are huge, we are kind of doubtful that decentralized news platforms such as Sapien can take any meaningful share of the market. Coupled with strong traditional and crypto (Steemit) competitors, we give the project lower Market score.
Project's Github has 4 code repositories.
The team regularly post on their social media accounts and their plans are sufficiently articulated and can be measured in the future.
We like the fact that the team tokens have a 24 month vesting period. However, we believe that more than 45% of tokens should be available to the public. We give the project a high score for security as 10% of funds will be allocated for future security audits of smart contracts.