ICOrating

LUCYD Basic Review (https://www.lucyd.co/)

ICO dates (01.11.2017 — 28.02.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Links

Project details

Name: Lucyd

Ticker symbol: LCD

Project type: AR GLASSES

Extended company

description:

Lucyd is a new augmented reality company building the first

lightweight, prescription-ready mainstream smart glasses, with

a blockchain app ecosystem.

Company: Lucyd PTE Ltd

Website: https://lucyd.co/

Whitepaper: https://cdn.lucyd.co/wp-

content/uploads/2017/11/whitepaper.pdf

ICO details

Public ICO launch: 01.11.2017

Public ICO end date: 28.02.2017

Crowdsale duration

(weeks): 17 weeks

Token type: ERC-20

Token supply: 100,000,000

Tokens available for

purchase (Pre-Sale

+ Public ICO):

50,000,000

The purpose of

attracting

investments:

1 LCD price: 0.00078125 ETH

Accepted payments: Ethereum, Bitcoin, all major currencies

Bounty: Program commenced October 4, 2017 and runs until the end

of the ICO.

Token role: Functional

Team

Team (number of

people) 6

Advisors and

partners (number of

people)

7

GitHub: N/A

Social media

Twitter: Posting: 524, Subscribers: 2136

Telegram: Subscribers: 3214

Linkedin: Subscribers: 151

Facebook: Subscribers: 87960

Youtube: Posting: 28, Subscribers: 972

Project information

Lucyd is a new augmented reality company building the first lightweight, prescription-ready mainstream smart glasses with a blockchain app ecosystem. Also, Lucyd plans plans to develop a proprietary Lab Store for applications integrated with smart glasses.

[1]

[1]

[1]

Lucyd Lens smartglasses will have the following features:

- A flush, unibody design for a discreet, customizable look. Existing AR devices are notorious for drawing unwanted attention (addressing a key mainstream is-sue with previous smartglasses attempts)

- All circuitry is contained within the stems, so it looks and feels just like a normal pair of glasses (addressing another key mainstream issue)

- Can be outfitted with prescription lenses (addressing another key mainstream issue)

- Lens-integrated, stereoscopic LCD microdisplays with a long battery life and HD, plus a high depth capacity.

- Bluetooth connection to iPhone/Android to experience your favorite apps in AR.

- Integrated microphone and bone-conducting speakers for easy calling and voice control.

- Can be connected to Bluetooth peripherals such as speakers and keyboards. - Integrated front camera for photo/video capture and precise object detection. - Operate handsfree with custom controls, including eye tracking, voice control,

[2]

and finger tracking input options. - High resolution, with an extraordinary 120° display arc for AR graphics (cur-

rently available displays are up to 40-50 degrees, Lucyd's technology address-es another key issue with AR)

Partners:

N/A

Advisors:

Professor Janick Rolland (LinkedIn) — Science advisor. Director at NSF I/UCRC Center for Freeform Optics at the University of Rochester (4 years), guest professor at d'Optique Theorique et Appliquee (6.5 years), director at ODALab-world (around 9 years); Lead inventor behind 12 of Lucyd’s patents. Considered one of the top optics and AR scientists in the U.S. Professor Hao Li (LinkedIn) – Science advisor, as well-recognized AR expert (ranked no.1 on Microsoft Academic in 2016, won Google Faculty Research Award, world’s top 35 Innovators Under 35 by MIT Technology Review in 2013, is on the top 10 leaderboard in Computer Graphics for the past five years). His work revolves around dynamic shape reconstruction, real-time facial and body performance capture, 3D hair acquisition and garment digitalization Dr Yiorgos Kostoulas (LinkedIn) — Science advisor. Licensing analyst at Vanderbilt University (3 years), researcher at Vanderbilt University (4 years), senior lecturer of T.E.I. at Western Macedonia (7 years); Dr Mikhail Gutin (LinkedIn) - Science advisor. Dr. Gutin has over 20 years of experience in many areas of optics, with an extensive record of patents and publications, and the R&D 100 Award by R&D Magazine Dr. Gutin conducted and managed as Principal Investigator and Project Manager multiple R&D programs and projects in optics, imaging systems, lens design, lasers, optical microsystems, spectroscopy, and interferometry. Dr Maribeth Gandy Coleman (LinkedIn) – Science advisor. Principal Research Scientist and Director of the Interactive Media Technology Center at the Georgia Institute of Technology. Her research focuses on mobile & wearable computing, augmented & virtual reality, gaming, assistive technology, and health systems. Donna Waters (LinkedIn) – Science advisor with 20 years’ experience. As an expert with Proof of Concept Optical Engineering, LLC, she has designed optics for a wide variety of AR and VR prototypes, including diffractive lenses and illumination systems for holographic waveguides. Pedro Lopes (http://plopes.org) — Science advisor. Human Computer Interaction Researcher at the Hasso Plattner Institute, Germany where he is completing his Ph.D.

Investments attracted:

N/A

Conclusion

The project is based on the idea of creating AR glasses to help augment vision and perception. The project is staging its ICO to raise funds for the creation of a prototype. Strengths of the project: - There are accomplished optics and augmented reality scientists ramong the project advisors, including a lead inventor involved with 12 out of 13 patents in this fields and 7 Ph.Ds. - High interest in the AR market. - Technology developed under the guidence of a top optics/AR scientist in the US, over several years of well funded, unhurried R&D at a premier optics institution in the U.S. (CREOL at UCF). The technology addresses the main issues preventing currently available smartglasses from going mainstream: bulky size, clunkiness, not being prescription ready, a narrow field of vision and more. - Lucyd has the backing of its parent company, Tekcapital plc (LSE:TEK). The executive experience behind Tekcapital is an important intangible. Lucyd’s commercialization lead is an experienced CEO who has previously founded and taken 3 companies public. - Lucyd has a well-worked development plan up to the end of 2019. Weaknesses of the project: - The difficulty of competing with large companies such as Google and Microsoft. - There is no working prototype (the team is conducting this crowdfunding for its

creation.)

Market and industry

Technavio notes that the augmented reality market will grow at an annual rate (CAGR) of 89% from 2016 to 2020. If this occurs, the smart glasses market’s CAGR will be more than 35%. A Research and Markets report projects the smart glasses market CAGR to be about 19.88% (2016-2020 yrs), which also reflects the industry's high performance.

[30] [31] [32]

The AR market is expected to reach approximately US$134 billion by the year 2021. The driver for this market growth is the North American region. The CAGR is expected to be nearly 80% by the year 2020. Greenlight Insights forecasts the world AR market at $36.4b by 2023.

[2]

Greenlight Insights

forecast

Comment: The market is rapidly growing. However, there is significant

competition, and it will not be easy to outdistance it.

Competitors

- Google glasses is an Android-based device with search, video, photo, translation, navigation, weather, and post and reading features. - Microsoft HoloLens is a ‘mixed-reality’ glasses device developed by Microsoft. - Vuzix (https://www.vuzix.com/Products/Blade-3000-Smart-Glasses) — smart glasses with support for sending e-mails, voice interface and touchpad, photography, Bluetooth, WiFi, etc. - ODG R7 AR/R8 and R9 (https://www.osterhoutgroup.com/r-7-glasses-system.html) - smart glasses with photography support, Bluetooth, WiFi, voice interface, etc. In addition, Apple, Amazon, Samsung, Facebook are currently developing their products.

[29]

Resume:

There are several issues with current AR headset products

preventing smartglasses from going mainstream. These

include a bulky size and geeky design requiring custom

lenses, narrow field of view (typically less than 20° to 40°-50°),

and a limited spatial resolution that causes blurriness, motion

latency and restricted vision. Other problems are light leakage

and stray light effects due to mismatches between virtual

image generators and optical combiners, caused by rigidly

symmetric geometric designs. Optical aberrations and offset

occlusion effects between real views and virtual objects giving

depth perception and accuracy issues, round out the big

problems (https://www.lucyd.co/2017/10/31/scientific-analysis-

of-lucyd-patents-by-lucyd-optics-lead-dr-kayat).

Engineering features of the platform

Lucyd is based on hardware tech developed over years of unhurried, well-funded research at a top optics hub in the US. The app ecosystem created is based on blockchain, where peer to peer payments will take place using LCD tokens. Considering the potentially vast universe of apps needed for smartglasses, this will help grow content more efficiently compared to traditional means. Lucyd glasses will be equipped with: - A flush, unibody design providing a discreet, customizable look. Existing AR devices are notorious for drawing unwanted attention (addressing a key mainstream issue with previous smartglasses attempts.) - All circuitry is contained within the stems, so it looks and feels just like a normal pair of glasses. - Can be outfitted with prescription lenses. - Lens-integrated, stereoscopic LCD microdisplays with a long battery life and ergonomic feel. Bluetooth connection to iPhone/Android to experience your favorite apps in AR. - Integrated microphone and bone-conducting speakers for easy calling and voice control. - Can be connected to Bluetooth peripherals such as speakers and keyboards. - Integrated front camera for photo/video capture. - Navigate handsfree with custom controls among eye tracking, voice control, and finger tracking input options. - High resolution, with an extraordinary 120° display arc for AR graphics (currently

available displays are up to 40-50 degrees, Lucyd's technology addresses another

key issue with AR.

[1], [2]

It is important to note that Lucyd Lens addresses quite a few issues troubling AR displays based on the well sponsored R&D over 10 years at a premier optics institution (under guidance of a prominent expert in the field, Professor Jannick Rolland). Lucyd’s potentially high value lies in addressing the major issues troubling AR smartglasses: bulky size, geeky looking, not prescription lenses-ready, a narrow field of view. All of these constitute major mainstream barriers; Lucyd’s technology addresses them: https://www.lucyd.co/2017/10/31/scientific-analysis-of-lucyd-patents-by-lucyd-optics-lead-dr-kayat Although it is likely one of the competitors will come up with a new product, it is unlikely it will address all these features in the way that Lucyd’s technology does. Also, competitors’ efforts e.g. Google glass 2.0 have a narrow focus (industrial application) while Lucyd technology can be applied commercially, industrially and retail wise… Please see the Lucyd FAQ for more details.

[2]

Technology description

Lucyd Lab

[2]

Comments:

Lucyd smart glasses will be supported by a basic operating system that optimizes existing smartphone applications for use in the AR interface. They will rely on a smartphone to process power and data. According to the project, optics miniaturization technology will enable reduced battery drainage from smartphones [https://www.lucyd.co/2017/10/31/scientific-analysis-of-lucyd-patents-by-lucyd-optics-lead-dr-kayat/]. The project has 13 patents on applied technologies.

[2]

Technological Roadmap

In the future, with the development of the technology and data capacity it is planned to implement the following:

- December 2017 — development of the Lucyd brand, the product and the software. [2]

- June 2018 — development of the first prototype of the Lucyd Lens equipment.

- July 2018 — Development of applications compatible with the glasses.

- October 2018 — prototype and application testing.

- First Quarter 2019 — launch of the product.

Comment:

The roadmap presents a step-by-step development of the

product. The technical specifications are described in detail in

the white paper. However, it is unclear which applications will

be added.

Documentation

We have analyzed the site and documentation of the Lucyd project for sufficiency and

consistency for making an investment decision.

The documentation includes the white paper, available in English. The submitted

document describes Lucyd in sufficient detail. However, the strategies for project

development and market entry have not been sufficiently disclosed.

The website provides information about the project and the public ICO. The site is available in Hebrew, English, Chinese, Dutch, Japanese, Korean, Portuguese, Spanish, French, German, Italian.

[1]

Resume: The documentation provides insight into the project.

ICO

Public ICO launch: November 01, 2017

Tokens to be

released, % 50%

Token type: ERC-20

Accepted as

payment: Ethereum

1LCD cost 0.00078125 ETH / $.25 USD

Crowdsale period: Until February 28, 2017

LCD will also facilitate rapid peer-to-peer transactions in the Lucyd AR world, and is

used to organically motivate user and developer engagement with Lucyd Lens. It

accomplishes this through the Lucyd Lab blockchain, on which new AR content &

apps are registered. Blocks then release LCD to developers based on user ratings of

their content, and to users based on their feedback to the developer community, and

participation in ads and promotions. LCD can be used to purchase AR products from

Lucyd and other developers, as well as bought and sold on token exchanges.

Token issue limit: 100,000,000

Advantages for token holders: Investors can speculate in LCD tokens because they

are limited in number and have functional properties (allowing use of the platform's

services).

Maximum planning

amount of profit: 31,250 ETH

Minimum planning

amount of profit: 4,688 ETH

Bonuses:

LCD token bonus: - 10% bonus for 2 ETH contribution. - 10% bonus & automatic pre-order of Beta Lucyd Lens for 4 ETH contribution. - 15% bonus & automatic pre-order of Beta Lucyd Lens for 10 ETH contribution. - 20% bonus & automatic pre-order of Beta Lucyd Lens for 20 ETH contribution. - 25% bonus & automatic pre-order of Beta Lucyd Lens for 30 ETH contribution. The top 50 contributors will receive one of 50 platinum-colored

“Legend” Lenses, bearing an inscription of your choice on the

stem. The top 50 contributors will also receive a 35% LCD

bonus.

[1]

The sale of tokens is carried out in several stages:

Comment: The number of tokens is limited. Additional tokens will not be issued. Unsold tokens can be released after the sale.

Bounty

Link https://bitcointalk.org/index.php?topic=2236863.0;all

Scheme of interest

distribution by

program

The project has reserved 2% of the total number of sold tokens

for the bounty. The program is open in the following directions:

- TokenMarket Competition — 2,5%

- Gleam — 2.5%

- Twitter campaign – 15%

- Facebook campaign — 10%

- Reddit — 5%

- Transfers — 15%

- Telegram — 5%

- Signatures — 20%

- Publications —15%

Resume:

The project has an extensive bounty program. The terms of

the program are listed on the project site, and you can register

for the program on the site as well.

Tokens and capital distribution

Tokens and capital distribute according to the following scheme:

Tokens and capital

distribution scheme

Resume:

Tokens do not affect the distribution of shares in the company.

The reward system is set up so that it's more advantageous to

buy tokens earlier. Management tokens are locked for 12

months.

Development plans

The white paper presents a plan to develop the business through building sales,

branding, advertising, public relations, and affiliate programs.

[2]

Revenue sources:

1. Sales of smartglasses 2. Sales of apps 3. Licensing our proprietary technology to third party manufacturers 4. Collecting network fees on transfers and purchases using the LCD token

Lucyd’s goal is to be global, but current markets are China, the emerging APCA, the U.S., the Middle East and Africa. Lucyd content will be downloadable in-Lens via the Lucyd Lab store, housed on the Lucyd smartphone companion app.

Summary

The plans to promote to the market and attract customers are barely covered in the white paper; there are no time-frames. The countries where Lucyd intends to operate are also unspecified. The question of project partners also remains open.

To achieve these goals, the team is planning to attract

additional investments. The first pre-production prototype

would be produced by Q1 2019, and the first commercial

smartglasses and apps will be available by Q4 2019.

Team

The team consists of 6 people, as well as 7 scientific advisors. Information on the

principal participants of the team (LinkedIn.) 7 PhDs in optics and augmented reality.

Dr Clifford Gross (LinkedIn ) — CEO & Commercialization Lead. Since 2012 the CEO at Tekcapital PLC (LSE:TEK). Experienced CEO/Founder: He founded and managed UTEK Corporation (innovative software solutions) for more than 12 years, CEO of the Innovacorp venture fund. Took 3 companies public. Thanks to Tekcapital, Lucyd has access to the financial and executive resources of a publicly listed company. Eric Cohen (LinkedIn ) — Co-founder, App Development Lead, and an experienced web and app architect. He has designed numerous apps and a vast amount of high-quality web content. He is leading the development of Lucyd native apps, and the front-end of our AR app blockchain. He is the President of Emaze Design Agency. Formerly a developer of analytic business solutions at Brighstar Corp and BI Specialist in Montreal Jewish General Hospital for more than 7 years. Harrison Gross (LinkedIn ) — Co-founder, Media Lead. Lead architect of the Lucyd Lens user interface and the Logyc OS. He oversees all published content that Lucyd produces for its following online, including the Lucyd.co site. His writing and creative abilities are fundamental to public perception of Lucyd. Experience in the media industry for more than eight years, ranging from the account manager (GC Services-Lakeland Florida) to Digital Media Manager at Tekcapital PLC. Konrad Dabrowski (LinkedIn) — Co-founder, Finance Lead. Group Financial Controller в Tekcapital PLC. Brings 8 years of experience with Deloitte as a financial auditor and Corporate Accounting Manager with RBI inc, focused on bringing high quality financial reporting, internal controls and standards of governance to the company. Dr Michael Kayat (LinkedIn) – Optics Lead. Executive with 20 years of experience in the development and marketing of advanced optics. He has extensive hands-on experience with successfully deploying disruptive optics technologies. At Exta Corporation, a NASDAQ-listed physics simulation company he was VP of Sales and Marketing during the start-up and emerging growth phases. Jose Hernandez (LinkedIn) – Blockchain Lead. Mr. Hernandez has extensive expertise in the cryptocurrency space, including mining servers and blockchain software. He is also an experienced information security specialist.

Information on other project participants based on Linkedin:

Patrick Guay (LinkedIn) is a developer. Regional Head Blockchain Education

Network;

Jason Kiraly (LinkedIn) is a web developer. Web Developer Vanbex Group;

Christer Guillergan (LinkedIn) - UI / UX. UI Artist Artcode Interactive;

Satyam Agrawal is a developer. No data on LinkedIn;

Jeffrey Walsh is a developer. No data on LinkedIn.

Resume:

Key employees are engaged in other projects; Etherparty

commenced development in 2015. According to Linkedin, only

Lisa Chen has indicated herself as an employee of the

Etherparty project. Kevin Hobbs considers the project part of

the Vanbex Group. Brian Onn points out that he is an

independent consultant engineer.

Marketing

Project information is available on Facebook, Telegram, Twitter, Bitcointalk and

Youtube. The team communicates with users via Telegram. They post videos on

YouTube on how the glasses work and their vision for blockchain as well as corporate

governance. There is a bounty program (Bitcointalk).

The project is active on social media. The team answers users' questions on

Telegram. News is regularly updated on Twitter and Facebook. The format of the

articles on the project shows that they were primarily ordered by the project.

Comment: Interest in the project is increasing. The main marketing campaign is deployed on Facebook.

[1]

Analysis of site traffic based on Similarweb.com data showed:

Traffic sources

(Similarweb.com)

[6]

Comment:

24.24% of traffic comes from Direct Link. However, other

channels such as search engines and social networks also

play a big role in attracting an audience.

Traffic through

search:

The project has almost 60% paid search traffic, which can

show an artificial increase in community interest rates.

Referral links: 19.45%

Comment:

There are no data on Similarweb. In the case of Alexa.com,

the site's traffic is 12 597 persons per month, the number of

views is 50 400.

Resume:

Based on the available data on the project, it can be concluded that the interest of the users in Lucyd is growing. However, the community is wary of the project due to the

relatively recent failure of Google Glasses and the long wait for

the product’s release. The team is leading an advertising

campaign on Twitter and Facebook, communicating with users

in Telegram and posting videos on Youtube.

Contacts

The developers may be contacted using the links below.

Website: https://lucyd.co/

Twitter: https://twitter.com/LucydLtd

Telegram: https://t.me/lucyd_en

Linkedin: https://www.linkedin.com/company/25172659/

Facebook: https://www.facebook.com/LucydLtd/

Crunchbase: https://www.crunchbase.com/organization/lucyd

Bitcointalk: https://bitcointalk.org/index.php?topic=2218055.100

(rus: https://bitcointalk.org/index.php?topic=2243292.120)

Youtube: https://www.youtube.com/channel/UCeS0XnxrgWWMdB3IP8M

DmZQ

Useful links

1. Website https://lucyd.co/

2. White paper https://cdn.lucyd.co/wp-

content/uploads/2017/11/whitepaper.pdf

5. About Bounty https://bitcointalk.org/index.php?topic=2236863.0;all

6. Similarweb https://www.similarweb.com/website/lucyd.co#overview

7. https://a.pr-cy.ru/lucyd.co/

29. https://www.wareable.com/headgear/the-best-smartglasses-

google-glass-and-the-rest

30. https://www.technavio.com/report/global-human-machine-

interface-global-smart-glasses-market-2016-2020

31. https://www.technavio.com/report/global-human-machine-

interface-global-mobile-augmented-reality-market-2016-2020

32. https://www.researchandmarkets.com/research/p94xb2/global

_smart

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communica-tion. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analy-sis more comprehensive and informative.