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As many of you who have been following the brand on Telegram/Discord probably noticed, I and others have been very bullish on the $STORM coin.
Ever since I saw it get added on Binance and took a brief look at it, I felt like the coin was a good project. But I didn’t have much more than an initial impression of the coin, so I decided to go in and take a deeper look at what’s ‘under the hood’.
From there, I scrolled down to their ‘About’ section, where they state: “Storm Market creates more earning opportunities for people all around the world by utilizing technology. WE make it easier for members to find new ways to earn, engage, and advance with our gamified micro-task platform for STORM tokens.
Below that section, it looks like there are three platforms under the STORM umbrella that users can go to if they wish to seek these opportunities to earn money for various random (?) tasks.
Here they are below:
So, let’s see if we can’t get a grip on what these three different platforms are before proceeding any further:
The description for this platform on the website is, “Earn by playing videos, and trying out new products and services.”
There wasn’t a link to click on for me to go further, so I decided to hit Google for more information about what ‘STORM Play™’ is and how it works.
Here’s their official Twitter page: https://twitter.com/StormPlayApp?ref_src=twsrc%5Etfw
And also, here is a post on there that gave me a bit more of an idea of what they were about:
Since there wasn’t much clear information in regards to how these games work, where to find them or how lucrative they were — I decided to go ahead and check other potentially knowledgeable sources about the game itself.
So, I checked out a few threads on their Reddit:
From the comments that I read, it looks some users are definitely having trouble getting the appropriate rewards for the levels that they have beaten in the game. However, it doesn’t seem as though it’s a ‘scam’ of any sort, but rather glitches that have went unaddressed by the respective development teams for the games that are having the issues that are being reported by their users in the STORM subreddit.
It is, according to the STORM website, available on iOS as well as Android — so, virtually anyone can assess the game at this point.
Here is also some additional information that can be found via a Medium article written by the STORM team and featured on their personal Medium page:
Right now, I don’t have enough concrete and verifiable information about this facet of STORM’s platform to make any definitive conclusions.
My questions to the dev team on this issue would be:
1.) Could you outline a bit more how the payout system works for your games? Are there certain levels or tasks one must beat before they are paid? Or must they simply be playing actively for a certain amount of time?
2.) Are you aware of the flaws/bugs/glitches that other users in your Reddit are reporting? Have you set about an actionable plan for fixing these issues? If so, what is it? If not, why not?
3.) If there is a plan in place to fix the errors in the game, have you informed your token holders publicly yet? If not, why not?
4.) If there is not a plan in place to fix the errors in the game, is this due to the fact that you believe that there are no flaws/bugs and the users reporting these things are mistaken? If this is not the case, why is there not yet a plan in place?
5.) What could one expect to win, on average, each hour from participating in this activity?
6.) What is the inherent benefit to users playing this game that would warrant a payout for it? How is this system/model sustainable?
I don’t see any information on those questions on the internet anywhere. If this information does exist, and I am mistaken, please leave a comment below this article with recommended resolutions.
The description for this second platform that STORM offers is, “Earn by shopping for products and services (To be defined)”
Unfortunately, this portion of the STORM website has not yet been shelled out. Information that I found online suggests that it won’t be released until Q1, 2019. So, no dice for 2018! But, if the STORM project remains viable by 2019, then they should be good to go.
This portion of the platform is also currently unavailable at the moment, but the team is anticipating that this will be ready to go and release to the general public by the 1st quarter of 2019 (please submit corrections if I am wrong on this).
Assessing STORM Where it is Right Now
At its current iteration, STORM doesn’t seem to stand out as something that’s particularly lucrative for the average person. However, it would be almost unfair to attempt to write an assessment at this current point in time on where STORM is since it appears that there is a lot more that must be done and crafted before it has reached its ‘final phase’.
Other Pertinent Information
Coin Information (at the time of writing)
Description: STORM is an ERC20 compliant token operating on the Ethereum blockchain.
Storm will use the blockchain to expand their platform to create StorMarket, a decentralized micro-task marketplace economy. StorMarket will be a place where people can go to utilize their skills and talents to complete various tasks. In addition, automation via blockchain technology will allow for all of the project management and marketing aspect of a micro-task to be integrated into the platform.
ICO Status: Finished
ICO Description: STORM is an ERC20 compliant token operating on the Ethereum blockchain.
Storm will use the blockchain to expand their platform to create StorMarket, a decentralized micro-task marketplace economy.
Storm will be holding its ICO on August 15, 2017. There will be a total of 5,002,500,000 coins available for $0.01 USD each at the offering. The ICO is expected to end on September 14, 2017.
ICO Token: ETH (ERC20)
ICO Target: N/A
ICO Cap: 50000000 USD
USD Price: $0.04
BTC Price: 0.00000452
USD Volume: $30,841,500.00
USD MarketCap: $146,364,833.00
Circulating Supply: 4,091,706,234
Total Supply: 10,000,000,000
Source Code: Here (https://github.com/StormX-Inc/crowdsale)
Announcement: Here (https://bitcointalk.org/index.php?topic=2006999)
Chat: Here (https://t.me/joinchat/GHTZGQwsy9mZk0KFEEjGtg)
Website: Here (https://stormtoken.com/)
Explorer: Here (https://ethplorer.io/address/0xd0a4b8946cb52f0661273bfbc6fd0e0c75fc6433)
Chain Used: Ethereum
Registered Country: United States of America
Homepage: Here (https://stormtoken.com/ )
Youtube: Here (https://www.youtube.com/watch?v=WldXoJSa6ck )
BitcoinTalk: Here (http://bitcointalk.org/index.php?topic=2006999.msg21584885#msg21584885)
Telegram: Here (https://t.me/joinchat/GHTZGQwsy9mZk0KFEEjGtg)
Twitter: Here (https://twitter.com/Storm_Token)
Facebook: Here (https://facebook.com/1955636071324612)
LinkedIn: Here (https://www.linkedin.com/company/7321628/)
Blog: Here (http://blog.stormtoken.com/)
Reddit: Here (https://www.reddit.com/r/stormtoken)
Slack: Here (http://stormtoken.now.sh/)
UX Design: Sue Yang
Advisor & Bittrex CEO and Founder: Bill Shihara
CEO: Simon Yu
CTO: Rui Maximo
COO: Arry Yu
Chief Strategist (Ethereum, Bancor, Alchemist Ventures): Steven Nerayoff
Ph.D, Gamification Specialist, Juloot Interactive: Hanan Gazit
Engineering: Calvin Hsieh
Engineering: Sean Zhong
Marketing Operations: Derek Haroutoonian
Engineering: Esther Song
Advisor & Founding CTO Zynga: Tom Bollich
Advisor & Co-Founder of Ethereum, Jaxx: Anthony di lorio
Advisor & CEO, alphabit.fund: Liam Roberston
Advisor & Co-founder and CEO of Bancor: Guy Benhartzi
Advisor & Fund Strategist, alphabit.fund: Brad Mills
Advisor & Father of VOIP, Founder & CEO of Vonage: Jeff Pulver
Advisor & CNBC Fast Money: Brian Kelly
Advisor & Founder of Appuri: Damon Danieli
STORM Token looks to be a decent project. There isn’t necessarily anything about the project that’s compelling me to say that this is something that will ‘take over’ in the long-term. But, if it’s managed right and the correct improvements are made to the existing model that it has as well as the platform that it has launched where individuals have reported numerous glitches, then I think this platform could shine.
Initiating a platform based on micro-payments is extremely difficult though and something that many have tried and failed to do. The full launch of the STORM marketplace should help propel this coin as well, assuming that the project continues unhindered from this point to that point. I’d like to see a few more things on its roadmap as well, speaking of ‘unhindered’ in that previous sentence because apart from the launch of the marketplace in the 1Q of 2019, there doesn’t seem to be anything else too substantive on the gamut for this project.
Overall Grade: C+