Once in a while we get really excited about the potential of a blockchain project. We had this excitement for Cindicator, ICON, Block Collider and now Fabric Token.
Biggest deficit in the blockchain space is not capital. It is the human capital.
There is way too much money and too much interest in the space, but when one goes to implement an idea in this space, it becomes evident immediately that there is a serious lack of talent. When someone finds a solution to a big problem in any industry, they thrive. Any solution in a ‘hungry for solution’ space will do wonders.
It used to be an herculean task to create a website in late 90’s and a decade into 2000’s. Now, you can create a website in minutes with zero coding experience. Blockchain technology doesn’t have to go through the same arduous and long wait to bring the technology to the people and businesses who can put it to good use but lack the technological background.
Fabric Token claims to be that solution for the glooming problem of blockchain talent.
Let’s see why we think this project, if executed, can be revolutionary for the blockchain space.
- DApp Workbench
- Fabric Store: Market place for smart contracts, addons, themes and solutions.
- Market cap and token economics
- Competition and caveat
- TokenGen: One of their first milestones, TokenGen, has already been launched and you can try it live on tokengen.io. Dubbed as ‘ultimate smart contract creator for the token economy’, TokenGen is a web interface that helps users choose from set of pre-defined smart contract templates.
While the front-end user interface will be designed to be simple and easy to follow, the back-end technology will be thoroughly tested and extensively documented.
You do not need technical background to use TokenGen. This is a easy way to start you own token generation event with few effortless clicks.
This is a easy way to start you own token generation event with few effortless clicks.
Premise is simple for TokenGen. According to the whitepaper, Tokengen acts as a pre-designed template for smart contracts, that represent the necessary online operations and relationships that are needed between interested parties.
- DApp Workbench: Whitepaper explains that “While TokenGen will allow users to eﬀortlessly create smart contracts for the most common elements of the token economy, DApp Workbench will target a more advanced development of smart contracts that facilitates designing intra and inter-organizational processes on a blockchain.”
DApp Workbench will allow the companies of varying sizes and individuals to create custom built solutions by making use of existing templates and facilitate further customization for specific needs.
Right now, such DApp platforms are limited to companies with vast resources. Fabric’s model of not requiring extensive programming knowledge on the user side will be a massive advantage over most of its competition.
Choosing Ethereum based smart contracts is a smart move since Ethereum is the industry leader in the smart contracts space and is currently widely used.
Because building a smart contract component into any process or framework will become easy and inexpensive with help of Fabric Platform, companies can decide a phase-in plan to introduce blockchain into their structure. This is yet another advantage of making technology available without too many conditions and rules, and inexpensive.
- Fabric Store: Fabric proposed a market place for smart contracts, addons, themes and solutions. It is not only important to make a technology available, it is also important to make that technology lucrative for programming circles. Fabric Store is intended to be the place where talent comes to monetize.
Store will allow the programmers build custom smart contracts, themes, addons, layers and all will be blockchain stamped for the verification of ownership. These creations are then readily made available on the Fabric Store for anyone to make use on DApp Workbench.
Fabric Store is intended to be the place where talent comes to monetize.
Blockchain talent on hire on a platform that requires blockchain talent to help customize contracts based on the needs of its users is a great proposition.
In one clean stroke, Fabric brings users, easy-to-use technology and key talent onto one platform.
- Team: While we would have liked to see some flashy superstar name dropping in their whitepaper, we did not find any such flashy profiles. What we found is that all of the team members seem to be experienced. We have not found any rookies on the team page.
Fact that they have already delivered on their first milestone of Roadmap gives credibility to their mettle.
While the team size is relatively smaller at the moment, with the ICO successfully completed, we expect that they will start adding strength to the team structure.
- Market cap and token economics: As of this writing, Fabric Token’s market cap is around 2 Million dollars. This is important for investors because, if Fabric Token achieves what they are striving for and lands in top 100 spot, it would need it to reach at 140 Million market cap. That makes it a 70x project.
However, if Fabric Token executes on all of its roadmap goals, then we expect to see this on Top 50 project list, at least. That will put it at above 350 Million market cap making it a 175X.
Of course, these is our speculation and there are no guarantees in crypto space.
To use smart contracts on TokenGen platform, its costs about EUR 10 and has to be paid in FT. As the platform introduces DApp Workbench and Fabric Store, the utility of FT should grow.
EUR 10 is very cheap compared to other token starters platforms that charge humongous fees or cut in the funds raised itself.
If executed and adopted, Fabric Tokens will gain natural traction and demand.
- Competition and caveat: As excited as we are about the potential of an idea like Fabric, we are reminded the fact that it is still in its potential form. For any speculation to come to fruition in true sense, a project needs to turn potential into reality.
As excited as we are about the potential of an idea like Fabric, we are reminded the fact that it is still in its potential form.
When most ICOs are going for cash grabs, Fabric team has showed restraint during the ICO by raising only 2 million dollars and also allowing for maximum number of community members to take part. This is a good indication of team’s intention.
As a general rule, we at QRIP group lean toward projects that do not cash the hype by exorbitant pre-sales, no limit participations and starting gas wars.
When looked separately at each of the offerings that Fabric proposes, they don’t look like ground-breaking ideas, there are quite a few on non-blockchain space and on blockchain space. However, when you bring them onto a single platform, it starts to make a whole new sense.
It all boils down to one thing. Can they deliver? If they do, this project could open flood gates of innovation into blockchain space.
Then, Fabric Token will not only “Transform Ideas into DApps” it will transform the way world views and uses blockchain technology itself.
Project: Fabric Token (fabrictoken.io)
Symbol: FT (please always double check symbol)
Price today: 0.085 $
Trading on: IDEX
Buy price: visit QRIP page to view
HODL period: visit QRIP page to view
HODL gain anticipated: visit QRIP page to view
Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose. Opinion, not an advice.