Bottr

Competition on chatbots market is huge. More than 10,000 businesses are already using or working on their own bots, and by 2020 80% businesses hope to have chatbots for interacting with customers. Nowadays media companies and marketers are still investing more time and resources into social networks like Facebook and Twitter than they are into messaging services. That will change as messaging companies build out their services and provide more avenues for connecting brands, publishers, and advertisers with users.

The MVP of the product is already developed, everyone could easily download an app or visit web-version of the product. With Bottr.me, users can build an interactive personal bot that can hold conversations on all social channels on their behalf. The bot can act as their personal page, FAQ assistant, customer service agent, rich microblog, interactive resume and more. These bots can be used by influencers, bloggers, creators, freelancers, startups etc. to present themselves online. The project works for more than a year and have not only built a great product which people already love but also organically grown the network to ~15k+ bots, ~40k+ monthly sessions, processed ~5m+ messages and carried out ~$150k worth of potential economic activity with ~30m+ Botcoins already in circulation. There are few competitors: Fortknoxster, blockcom, Mercury Protocol, Ironclad, Broadcast, NXT Messaging.

The project is built on the very strong and well-designed ecosystem. Bottr's platform is essentially built on four fundamental pillars:

1) A personal AI powered identity for connection and communication (chat bot)

2) A cryptocurrency to put a value on output and act as a medium of exchange (Botcoin)

3) A social reputation measure for trust and governance (Botscore)

4) A transparent and secure blockchain based infrastructure layer (Botchain).

As a result, it would substantially raise a usage of the platform and the engagement of users. Also, this model includes one of the most important feature nowadays' reputation. Otherwise, it would be impossible to distinct valuable information from white noise. Also, cryptocurrency would ease the user experience of value transfer. The whole model of the ecosystem is very well designed and explained in the whitepaper. It is clear, how intrinsic value of tokens will raise and why users will use this coins at the platform.

The most challenging task for chatbots platform is monetization. Nowadays, platforms such as Bottr has only one crucial parameter growth rates. As a result, it has to be supported by huge long-term investments. However, market leader could became new Facebook. As a result, Bottr has great perspectives for its investors, despite being on the very beginning of its way. It means, that investors have to estimate the potential of further growth of the company, rather than just potential profit of the project. Project has already passed Seed round of VC investments in Jul-2017. According to crunchbase, it has raised $300K. This round was financed by 500 Startups, Purvi Capital and well-known angel investors - Abhishek Gupta (TLabs) and Rajan Anandan (Vice President & Managing Director of Google). Several analogs also raised seed funding in 2017: Niki.ai, Boxx.ai, Vernacular.ai, Botworx.ai. All-in-all, we truly believe in huge potential for early investors of Bottr.