Opporty describes itself as a one-stop-shop, an all-in-one solution for starting and doing business. Opporty is like Wikipedia – it is the best platform to share knowledge and gain exposure. At the same time, Opporty is a lead generation platform used to attract clients and get leads. It is a multifunctional tool for approaching your target audience and building your professional reputation. Opporty tries to tackle the problems smaller to medium size companies have, like attracting new clients and gaining exposure, especially competing with bigger and more established companies.
Opporty implements renewable ratings. It’s a flexible rating system where your rating is not only based on the number of stars you receive, your community contribution and activity is also taken into account. People with a higher rating are eligible to become an escrow judge (who act in case of problems and review service quality). The Opporty team creates fair conditions for every user (and so also companies).
Sergey Grybniak, the founder of Opporty, has been doing market research for seven years in CIS countries, China and the US. He used this knowledge to try to grow businesses but experienced the difficulties startups have to get their first clients and receive exposure. Even with the right market knowledge and a dose of ambition, it is very hard to join any marketplace. So this got Sergey thinking, what if there was a single platform where a new business could:
- Conduct market research
- Approach a target audience to offer unique opportunities that have no equivalent in the market
- Receive requests from others who are actively looking for services you provide
- Resolve issues of closing first deals without losing a buyer’s interest, which is hard for a provider with no reputation
- Get your first reviews
- Share your knowledge to educate a community and increase exposure
“This is how I arrived at the idea of Opporty”, Sergey said.
In general, all online service marketplaces can be labeled as competitors to some extent. Currently, there exists an impressive number of similar companies that effectively operate in one or more niches. And here, Opporty faces two major challenges:
- Tackling strong competition within niches
- Introducing blockchain to users who know nothing, or very little, about it
Team Formation and Culture
In 2013, Sergey came to the US where he founded his second service company – Clever Solution Inc. Half of his staff at Clever Solution Inc. has been allocated to the Opporty project (25+ team members and still growing). They have adopted an open and respectable environment in which team members can grow both personally and professionally.
Behind the token sale
The ICO will help them raise the necessary funds to develop the platform further, without relying on third-party investors. In this way, the team will be able to focus on growing the Opporty community and shift the focus away from the realization of short-term profits. Their goal is to remain a free platform for the majority of their services. To make this feasible, they will keep their margins as low as possible.
The Opporty token (OPP) is an ERC-20-standard cryptocurrency that can be purchased or gained as a reward for contributing knowledge and expertise to Opporty’s knowledge-sharing system.
OPP tokens can be spent on:
- Advertising and promotion on the platform
- Additional services
- Services provided by contractors
The OPP token can also be used for staking, necessary for applying for certain roles on the platform like Curators, Arbitrators, Escrow Judges, etc.
Sergey has already pointed out that marketing is key for the adoption of the platform in niches with strong competitors. “We also have well-planned PR, Social Media Marketing, Search Engine Optimization and Offline Marketing strategies. There are a number of experts with relevant knowledge and experience on our team”, Sergey said.
The whitepaper notes the use of escrow judges. We asked for some further explanation about this subject. Apparently, during the first phase (more info about phases in whitepaper at 10.1 and 10.2), anyone who can prove their expertise in a certain field will be able to become an Escrow judge (the arbitrator) after Opporty’s team approval. To become a judge, one needs to identify the niche in which he or she is an expert and upload the required documents (KYC) and certifications. All judges will be rewarded automatically by Opporty’s system, in accordance with their contributions to the judicial process. Moreover, they will receive massive exposure and be awarded special badges on their profiles.
During the second phase, all judges will only be selected through community voting. Prior to applying for the position of an Escrow judge, a user will have to establish a good reputation and contribute some OPP tokens to the system. This will protect users and the platform from unfair and unlawful judgments in the future. On the other hand, there is a possible threat to community voting. Larger companies might have a larger stake because they can assign more resources to contribute to the platform, furthermore, these companies could utilize their larger stakes for upvoting employees to become judges.
Luckily, Opporty is working on automating contract execution through Oracle. This middleware can be of three types: semi-automated, fully automated or AI-enabled. Here is how it works: Each niche utilizes its own measurable quality metrics. If we talk about contracts or tax reports, in most cases they can be verified without any problems. However, in some cases escrow processes require additional information which can be provided by Oracle.
The Challenge of Opporty
The two major challenges they face are marketing and community education. Even now few people know about blockchain. It is important to pass on the benefits blockchain has to offer. Next, marketing will be key because the platform will have to compete with many businesses in many niches.
Pros and Cons
Opporty offers smaller to medium size companies a better chance of landing their first clients. The flexible rating system gives companies a fair chance of showing their potential in comparison with bigger companies. Besides that, the token has true meaning within the platform. It can be used for staking (voting on judges), but also for promotion and additional services.
Opporty will experience a tough time competing with other companies or platforms offering niche-specific lead generation, especially in well-established niches. So, marketing is key for their success and it will require a big chunk out of their marketing budget. Added to this, people are not familiar with the principles of blockchain and attached tokens. Next, escrow judges are chosen by manual selection (phase 1) and voting (phase 2). I would like to see those autonomous judges being implemented as fast as possible to avoid the possibility of fraud.
The Future of Opporty
“In two years’ time, we see Opporty functioning as a fully autonomous DApp with its own flexible blockchain. Small and medium companies will be able to do business completely on Opporty, without having to rely on old-fashioned courts. Within this time frame, we expect to offer fully functional solutions for the US, United Kingdom, Canada, Australia, China, India, CIS countries, and Europe.”
“In five years’ time, we intend to have fully automatic and AI-enabled escrow smart contracts, with the implementation of autonomous governments and multiple entry points. These points will be apps for various devices, chatbots, audio assistants, and so on”, Sergey told us.
The idea behind Opporty is pretty cool. They try to offer an all-in-one solution for smaller businesses to give them equal opportunities. It can be used as a lead generation tool. Contributing knowledge to the community gives you more exposure. Besides that, I like the idea of a monthly recalculation of your rating. However, it will be difficult to enter niche markets with strong competition and to educate people on the use and the benefits of blockchain.
More Info and Technical Details
Whitelisted presale: 19/10 – 26/10
Main sale: 27/10 – 24/11
Hard cap: 50k ETH