Idea & token
Experty’s idea is aimed at monetizing the experience of various specialists (beginning with crypto oriented consultants) A sort of “uberization” of consulting in a way. Experty functions as a voice and video-call application (similar to Skype and other messengers), where experts from various fields can consult for money. An expert, meaning a knowledge provider, sets a per-minute fee and shares a link to their Experty profile (this can be done anywhere, for instance in LinkedIn). Based on the expert’s credentials, a knowledge seeker is able to request a consultation, or schedule a future appointment, with the payment being conducted automatically from seeker to provider. It’s worth noting that the team deliberately does not create a centralized marketplace listing experts. One can share the link to their Experty profile anywhere.
In this system, EXY tokens play a crucial role. All transactions are done in EXY (a knowledge provider can accept payments in other cryptocurrencies, but this would require them to pay an EXY commission). Users wishing to schedule an appointment in advance use EXY to make an advance deposit. Additionally, by staking a certain amount of EXY (without actually spending it), users gain access to the application’s premium features.
Experty is being developed by a team from the company React Poland, founded in 2014 by CEO Kamil Przeorski and COO Tom Dyl. Located in Zug, Switzerland, this company has been developing web and mobile applications since the very beginning. Front end developer Grzegorz Kucmiers was a software engineer at Cisco. Additionally, the team sports about a dozen other front, back-end and mobile developers. It’s worth taking a look at the list of advisors too.
Monetization of knowledge seems a fairly simple and natural idea, with a broad variety of application fields. It’s good to see the project is undertaken by a fairly big team, with significant experience in development. We are particularly fond of the choice to allow Experty profile links to be placed in regular social networks, as this may benefit the project’s promotion by utilizing existing communities. This choice and a few others, however, also raise a problem – the Experty team clearly wants to involve regular users who are not part of the crypto-community. But doing this while maintaining obligatory payments in EXY may make it more complicated for users unfamiliar with or unwilling to utilize crypto. There is also the matter of balancing between convenient monetization and the risk of tokens transforming into securities. The team is mindful of the latter in particular.
Currently Experty remains significantly flexible, allowing it to change in order to account for existing risks. The team is also listening closely to feedback from the community. This may not be ideal for a fundraiser, since this means investors will spend a while without having an exact image of the final product they would be getting, but that does not make it a poor strategy for a company developing a new application.