Horizon Fund I
Introduction
Polkadot solves the main issues confronting the blockchain technology: scalability, interoperability, and governance. For good measure, it is also consumes minimal energy, thanks to the Proof of Stake consensus mechanism.
Investment Rationale
Gavin Wood, the original CTO of Ethereum and our advisor, created the Polkadot mission, taking the positive aspects of Ethereum and correcting its weaknesses. We believe that the market cap of Polkadot will surpass that of Ethereum in time, track record of delivering cutting edge technology, which massively lowers the risk of tech delivery for an early stage project.
Price Development
Prior to the launch of Scytale, we acquired rights to tokens prior to the public auction in October 2017. The public auction clearing price was approximately $0.33. In October 2018, the Web 3 Foundation privately sold several million dollars at a price of $0.70. In mid 2019, the Web3 Foundation conducted a larger private sale of 500,000 tokens at a reported price of $1.20, with some larger developers reportedly receiving undisclosed discounts. DOTs are currently widely listed and highly liquid.
Introduction
Blockchain technology applied in the energy sector has the potential to reduce transaction costs, enhance data security and transparency, open markets to a larger number of active participants (consumers and devices), and accelerate the transition towards a digitalized, decarbonized, decentralized, democratized and resilient energy system.
Investment Rationale
The Energy Web Foundation (EWF) was the first and has become the largest consortium of SMEs and corporations in the energy industry (over 100 affiliates in March 2019) dedicated on developing blockchain technology according to industry- specific needs. It was founded in 2017 by energy blockchain pioneer Grid Singularity and the Rocky Mountain Institute, a think-tank dedicated to the green energy market. This makes EWF the best placed candidate for delivering on the vision of bringing blockchain technology to the energy market as an enabler of new business models.
Price Development
Scytale acquired EWT at the price of $1 per token equal to 26.1% of total holdings. The Energy Web (EW) Chain was successfully launched in July 2019. It is an open-source, scalable blockchain platform specifically designed for the energy sector's regulatory, operational, and market needs. The focus is now on adoption of the EW Chain by industry participants. EWF is exploring other industry verticals to increase adoption of the EW Chain and its token, such as the banking and insurance industries.
Introduction
Al needs massive amount of data to learn. Many companies have large silos of data that must remain private under current circumstances. The few companies that possess massive amounts of data and the Al expertise to exploit that data have generated huge profits for themselves, by getting the data for free or very cheap (Amazon, Facebook, Google, etc). A data economy is potential worth trillions.
Investment Rationale
Ocean Protocol addresses the data economy, creating a platform for the purchase and sale of data, with the seller maintaining control and privacy of the data, while receiving compensation, and the buyer able to train algorithms while receiving proof of provenance and data quality. Ocean's founders have long and successful track records in Al and enterprise data, as well as contracts with several corporates to develop on Ocean Protocol. However the data economy does not exist yet. This is a long term project
Price Development
Scytale Horizon participated in the private sale in early 2018. Tokens were allocated at a price off €0.20 each. The Ocean Protocol team sought to raise capital in a series of milestones, with the expectation that the price would increase as milestones were hit. The team managed to achieve the milestones, but digital asset prices were down massively when the team sought to raise additional funding in early 2019. The team tried an ICO at $0.24, which raised only 15% of the target. They then conducted an IEO on the Bittrex International platform at $0.12, price which was also granted to private sale participants via bonus tokens. The IEO raised 87% of the target. With a supply overhang, the price quickly fell to $0.03 before stabilizing between $0.02 an $0.03. In addition seed and private round investors received a portion of their tokens every month for the first 6 months after IEO, ending at the end of September 2019, creating additional selling pressure. Scytale took the opportunity to average the cost down to approximately $0.085.