Neuromation ICO Review – NTK Investment Analysis

https://www.neuromation.io/en/

ICO Details

Symbol – NTK

WhitepaperLink

When – January 7, 2018

Hard Cap – 54 Million USD

Total Max Market Cap At ICO – 90 Million USD

Total Tokens In Circulation At ICO – 100 Million NTK

Exchange Rate: 1 ETH = 1’000 NTK


Overview

neuromation ico marketplace

Neuromation is a new decentralized platform created for synthetic data labeling and deep machine learning. To put the project in simple terms, in order to “train” Artificial Intelligence you need large amounts of data and information to feed to the machine. This is not unlike a newborn baby who takes in everything around them in order to construct a mental map of the world. In data science, this mental map is called a model, and can be used for practically anything that the AI is built to achieve, such as complex computation, neural learning, and human interaction. However, data is expensive, and gathering high quality data moreso. Traditionally speaking, the incumbent solution to this problem has been to hire out many human workers to “label” the datasets that are fed into a learning AI. Of course, this manual method is very time inefficient and costly, as well as introducing human bias and error into the system.

Neuromation looks to change all of that with their new platform – with their new technology, combined with distributed computing power on the blockchain and an incentivized market structure, Neuromation hopes to create a machine that can do this data set labelling synthetically, in an automatic computerized process:

There is currently no general tool set available to facilitate the use of synthetic
data on a large scale. The Neuromation platform will change this.

Neuromation will be the worlds first platform that will be used to mechanically label and categorize datasets, thus increasing efficiency and reducing cost of this process by several magnitudes. Neuromation will do this with a process called “knowledge mining”, which can be contrasted to traditional cryptocurrency mining. Instead of spending clock cycles and hashrate on discovering nonces, the knowledge mining algorithm will pay out users based on the amount of work that they will provide to the platform, thus rewarding miners with the NTK token.

The NTK token will be used for a variety of services on the Neuromation platform, such as purchasing datasets for machine modelling, labelling synthetic datasets, generating data, and training AI with Neuromation’s data. It’s a very well put together system on the whole, and it presents lots of opportunities for machine learning and AI that goes beyond the blockchain space. As most people who are versed in technology would say, the next big “boom” that our economy will have could be in the AI sector, and a project such as Neuromation that tackles this challenge head on is very appealing to investors even outside of the cryptocurrency space.

 

Neuromation offers a unique solution that unites market resources, the
scientific community, and commercial and private entities into an integrated
marketplace – the Neuromation Platform. To address the most critical issue,
Neuromation focuses on synthetic datasets that have been proven to yield
compelling results. Using synthetic datasets in machine learning will further
decrease the cost of – and will ease – widespread AI adoption.

 

 


Team

sergey

Sergey Nikolenko

Researcher in the field of machine learning (deep learning, Bayesian methods, natural language processing and more) and analysis of algorithms (network algorithms, competitive analysis), Sergey has authored more than 120 research papers, several books, courses “Machine learning”, “Deep learning”, and others. Extensive experience with industrial projects (Neuromation, SolidOpinion, Surfingbird, Deloitte Analytics Institute).

 

 

Esther-Katz

Esther Katz

PR professional with 20 years of activity on major markets and focus on biotech and fin-tech. Former head of Jacob Peres Office, leading PR agency in Israel. Early cryptocurrency adopter and blockchain enthusiast. Lives and works in Israel.

 

 

Dave-Carlson

David Carlson

Dave Carlson – CEO of the Giga-Watt, one of the biggest in North America turnkey mining services and custom packages service provider. Dave is one of the pioneers of the mining community with a longstanding software engineering background and successful entrepreneurial track record. Prior to CEO of Giga-Watt Dave served 4 years as a CEO and founder of MegaBigPower, one of the largest single-operator mining facilities in the world.

Positives

neuromation modules

Possibly the biggest positive around Neuromation is the fact that their platform actually works – putting aside all cryptocurrency and token incentives, this is a platform that any investor would love to be a part of due to the revolutionary new technology and potential that Neuromation represents. The ability to label datasets in a computerized manner is such a groundbreaking innovation that this project will go very far on that merit alone. While it is hard for me as an investor and not a technology expert to stress the impact of this kind of achievement, it definitely has plenty of appeal and should fetch a great starting price on markets due to the inherent nature of the project.

 

Another positive for Neuromation is the novelty of their idea in the cryptocurrency space. Many people will draw comparisons between Neuromation and other projects such as Numerai, Enigma, and even Cindicator, but they aren’t really correlated. The three projects I just named are primarily focused on trading and financial markets, which is where the brunt of their focus is put towards. Neuromation is a completely different beast, built for data scientists and third parties that have the need for large amounts of high quality data that simply costs too much to get with the current technology. Neuromation will be the only project in a sea of opportunity, and that means they will have a great advantage moving forward for investors.

Finally, it’s great that Neuromation has a working product and a proven MVP that will help to increase investor confidence in this project. We love MVP’s at Globalhalo, and the Neuromation concept thus far is one that we think can be applied day one to companies and entities that are looking for these kinds of data services.


Negatives

A negative for the Neuromation project is their hard to understand concept that will make gaining traction a little more difficult than other projects. It took me a good five minutes to get a basic idea of the potential that Neuromation has, and in this market that is sadly too much. More efforts towards marketing and development of their community should go far to alleviate this, and I also expect future articles (such as this one!) that will explain these ideas to the public in a more readable format to do much of the heavy lifting here.

A second drawback for Neuromation is a bit of a dubious proposition made on the part of their “knowledge mining”. Should Neuromation get off to a great start, GPU miners are expected to receive something in the neighborhood of three to five times their regular gains when mining cryptocurrency such as Ethereum. This will give Neuromation a great starting based of available computational power, however it does also mean that if the project isn’t supported well from day one, it could fall into a death spiral of unprofitability for miners, thus halting their entire data platform and services. It is a small doubt as we are currently in a large bull market and Neuromation is legitimately a great project, but it does leave some worries.


Conclusion

Neuromation was a project that I wasn’t too keen on reviewing from the outset – it simply looked to me like another Numerai/Enigma offering. That speaks volumes about the kind of marketing and heavy opposition the team will have to do to differentiate themselves from the pack so to speak. That being said, Neuromation has the great backing of an experienced, knowledgeable team behind it, a decent crowdsale structure, and a fresh idea that makes this ICO a winner. Look to get these lucrative tokens as soon as possible, for this is a great investment both for short and long term.

Investment Grade: 90%

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4 thoughts on “Neuromation ICO Review – NTK Investment Analysis

  1. Thx,
    another great review for another great project. I was lucky enough to get in at presale, but main ico is still very fair so I may get me some more of these gems….
    Allthough I always take a deep dive into interresting projects and invest if I´m personally convinced, it is always nice to get this confirmed from an expert who is seldom wrong !
    (A lot of “numeration” in the text though, I know autocorrect can be a bumber 🙂 )

    Like

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