he project has the following strengths:

• A significant and fast-growing market (gaming)

• Expertise of the core team in the target market (IT, HTML5 and gaming)

• Healthy vesting conditions for tokens

• Reasonable forecast distribution of funds

• Favorable competitive landscape (no direct competitors)

However, there are still some risks linked with this ICO:

• Absence of an MVP. At the time of analysis (May 2018), the team has not yet released an MVP/alpha; it is not expected until Q4 2018, according to the project’s roadmap.
• ICO details which cannot be verified at date of analysis. The smart contract code on GitHub is unavailable for public review and important ICO information (vesting periods, token distribution timelines, bonuses, token burning) cannot be verified. 
• Team composition and competence. We believe that 5 team members are not sufficient to deliver such a project in the given timeframe, especially if some team members have another duties apart from working on the Egretia project and taking into account lack of direct blockhcain experience which is partially offset by extensive IT/software development experience. 
• Whitepaper is not comprehensive. The whitepaper lacks competitor analysis (although there are no direct competitors, there are some projects aiming to provide similar solutions in some aspects, e.g. digital marketplaces, etc.), token and project economics (e.g. fees for trading, marketing and distribution platforms are nor specified), forecast marketing activities and plans for product promotion.
• Given that there is no actual MVP yet, all of the above significantly increase the risks for investors.

16-Apr. Alexey: Egretia is an interesting project, we are watching it.
24-Apr. Sergey: We are planning to participate in Egretia.
3-May. The same, I think everyone from our team will participate. So prepare accounts on Tokeneed.
14-May. We are planning to participate. We will inform you if we do.
30-May. Alexey: It was fast. I think everyone has positive expectations about Egretia, regarding the fact how fast has ICO finished. 
Sergey: It is blockchain for games, funds have participated in the project, they have decreased cap. Bonuses on pre-sale are not big, it is a very comfortable project for me.

Advantages.
1. A leader in HTML5 games, egret, is leading the ICO.
2. Development manpower has a good career.
3. HTML5 There is no competitor in the game industry.
A complementary point
1. Hard cap is close to 50M $. Dumping is expected due to strong bounty and referrals. No need to participate in ICO.
2. HTML5 games are structurally limited to light games only. The existence of a strong competitor in a 2D game called COCOS.
3. The roadmap is incredibly long. A structure that cannot be commercialized until next year.

Egretia 6.5 out of 10 by Midgard Ventures.
Egretia is the remarkable project with high hype around it. The established company with over 40% share of mobile apps market is going to apply blockchain to its products. Html5 games powered by Egretia cover over 1billion devices. Tokenomics is good. We deducted some points for pretty large hardcap and usually moderate performance of ICOs from gaming industry.

Project strong sides: a strong partnership with well-known in industry company; an innovative idea based on existing product.

Project weak sides: no clear business plan and marketing strategy presented; the team has lacked in key positions.

So our position is weak positive.