DISCLAIMER

The article references an opinion and is for information purposes only.

It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

Prelog

First of all, I would like to say thank you to everybody who liked, shared and contributed to my first article “Elixir Cryptocurrency is a good investment. Here is why.” in any way. The resonance was breathtaking and almost everybody did behave very respectful in the comment section. Thanks a lot for that, the support is hugely appreciated.

As a result, I would like to write more articles about different coins and topics related to cryptocurrencies. Some coins will have a lower marketcap, some coins will have a higher marketcap but the most important part for me is to find coins and topics with real value. If I post about a coin I will do so because I am completely convinced that it has value and is currently undervalued. But remember: please inform yourself before you invest in something. It’s just my personal opinion and not investment advice.

Intro

There are a lot of hidden gems in crypto that just haven’t been discovered yet, and this time I feel like I’ve found a real diamond.

Some of those are gems because of their valuable product and use case, sometimes just because their market cap is low and the coin offers great upside potential. The latter will still need some time to fulfill its full potential but is still often a great investment.

And then there is the holy grail of undiscovered cryptos that offers all those attributes and one of those is REX.

I think the possibility for this coin to jump in value 5x or even 10x in the short-midterm is most certainly there. Longterm this is a hold for me aswell, once the product gets released in december the sky is the limit.

REX is a great deal due to its low price, amazing future potential, and a working product prototype (in alpha stage) that already looks great and a team that cares deeply about it.

I don’t want to take the excitement away from you guys discovering something great so I’ll let you experience it firsthand.

My thoughts when I saw this marketcap: Well, this coin doesn’t have any volume, a low marketcap, a maximum supply the size of Bitcoin and has been added to coinmarketcap just recently (14 of September).

After that I went to their website:

http://rexmls.com/

Source: http://rexmls.com/ Website of REX.

Holy s**t. That’s one of the most gorgeous website I’ve ever seen in my life as an Art Director / Designer and as a developer I was and I still am impressed about this.

The love of detail and quality reminds me of https://district0x.io. A coin that was worth 50 times more when it was at all time high and still is worth 10x as much. It was hailed as having the best ICO website in crypto by many and now REX a way smaller coin has a comparable website. Of course, that’s just comparing the websites and the product is completely different but you can already see the quality standard of the project being very high.



But enough with this jabbering, if you like what you see then read on. From here on out comes the real talk and the hard facts.

I can promise you one thing the website isn’t going to be the only thing that impresses you about this project.

What is the idea behind REX?

REX is a real estate listing and transaction platform that tries to connect vendors, buyers, sellers and real estate agents worldwide for a fraction of the cost of traditional MLS’s*.

*What is a MLS?

A multiple listing service (MLS, also multiple listing system or multiple listings service) is a suite of services that real estate brokers use to establish contractual offers of compensation (among brokers) and accumulate and disseminate information to enable appraisals. A multiple listing service’s database and software is used by real estate brokers in real estate (or aircraft broker[citation needed] in other industries for example), representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to work with a seller’s broker in finding a buyer for the property or asset. The listing data stored in a multiple listing service’s database is the proprietary information of the broker who has obtained a listing agreement with a property’s seller.

Source: https://en.wikipedia.org/wiki/Multiple_listing_service

The advantage of REX compared to traditional MLS’s are:

save time and money on transaction fees

identify, select and purchase property, globally and quickly.

the user retains control of their data

Here is a wonderful explaining video about REX:

REX ICO gone wrong and the reason why its marketcap is so low

Before I will go in depth I need to write about something very important.

This information is needed for you to understand one of the reasons why the marketcap of this coin is as low as it is.

Back when REX had their ICO they published the wrong Ethereum address.

That mistake wasn’t fixed in time and so about $1,000,000 got deposited to the wrong address.

The team fixed that mistake and everyone that sent their Ether to the wrong address did get their tokens back. But don’t take my word for it, you can check reddit and twitter yourself.

Besides several reddit threads making fun of the team for making that honestly stupid address mistake I couldn’t find anything negative and even after several hours of searching I couldn’t find anyone that tried to get his coins back and didn’t manage to do so.

They really try hard to get in contact with everyone and reimburse whoever invested (5% still haven’t approached the team yet).

This ICO mishap heavily influenced the price and the ICO participation numbers. In my opinion the way the team handled that sh***y situation, besides the initial mistake of course, is pretty commendable and doesn’t rectify the low price of this coin.

Here is a statement by the team about the situation. https://blog.rexmls.com/rex-token-sale-day-1-update-a0c27fcb43f4

Here are some questions and answers from Discord:

Source: https://discordapp.com/invite/BSe7j4C Communitymanager “Ryan_” is answering questions. Another members is answering a question about the problems inside the ICO and the raised amount.

Additionally, the REX ICO was right after the big bitcoin crash in july back when the market was still consolidating and the market direction was uncertain. (31 july — 25 august 2017)

This is, at least in my opinion, the reason why the market “forgot” about REX and this why the price stayed stagnant.

But since then the team updated the website and released an alpha version of the product. These additions aren’t reflected on the price of the token.

ICO specifics

Timeframe: July 31st, 2017 4:00pm UTC — August 28, 2017 3:59pm UTC

Total funds raised: 13,035 ETH

Total number of contributors: 849 unique addresses

Total REX Issued: 24,975,904

Percentage of Users that Migrated (06-Sept-2017): 82.4%

Number of Unmigrated Token Holders: 73

Token Fund Wallet: 0x03e4B00B607d09811b0Fa61Cf636a6460861939F

Source: https://github.com/rexmls/whitepaper/blob/master/readme.md Token distribution for REX

In total the team earned 13,305 Ether which was worth around 4.39million $ at the time.

The price for REX was 1000 REX = 1 Ether in the first week and after that it was 700.

REX current costs around between 0.6 and 0.9 Ether per 1000 REX depending on whether your buy order executes or you buy a sell order.

So in short, the team grew, the project and the website are making headway and you can still get in cheaper than the ICO (06-October-2017).

What is the REX token for?

A question that remains unanswered with many tokens, what do you actually need the token for?

With REX there are several answers.

REX will be used to perform different actions on the Rex platform. The more adoption and usage the platform has, the more valuable REX will be.

Some examples are listed below:

Listing Rewards: Verified users are paid REX for every listing they contribute to the database.

Listing Spam Reductor: Users pay REX when submitting a new listing.

Market Sponsorships: Users pay REX to sponsor a geographic market.

Featured Properties: Offered through Curation feeds.

Broker & Landlord Professional Profiles: Users pay REX to create a professional profile. Users with Professional Profiles are searchable in the Rex database.

Source: https://crushcrypto.com/analysis-of-rex-real-estate/

Name

It may sounds stupid but REX is a really catchy name that people will remember. The coin needs to be easily pronounceable in every language to become the market leader.

Whitepaper

https://github.com/rexmls/whitepaper/blob/master/readme.md

I don’t want to go into too much detail on the whitepaper, I personally liked it a lot but this article is getting too long already. The strategy outline, how it works and what they’re trying to solve is all described there, so go check it out if you’re interested. In general, the whitepaper is really extensive and well done.

Competitors

https://www.ubitquity.io/web/contact.html

(Not on coinmarketcap yet. Date: 05th October 2017)

https://propy.com/

https://coinmarketcap.com/currencies/propy/

I personally think REX is by far the most structured, well thought out and has the most ambition out of these 3 but I gave you the links to the other 2 so you can compare them yourself and choose the one you like the most.

Website of REX (don’t confuse with the platform / App )

http://rexmls.com/

Every good project needs a good website. REX has one of them.

Here are some quick facts:

the website is beautiful. Design is always a personal taste but I don’t think anyone can argue that the website is well done with a lot of attention to detail.

it contains all the information you need in English and Chinese.

Additionally the team has a very informative blog: https://blog.rexmls.com/ with 6 (!) blogposts in september.

Additionally the team has a very informative blog: https://blog.rexmls.com/ with 6 (!) blogposts in september. their goal and how they plan on achieving it is given in short coherent sentences simple and easy understandable

the most important team members are listed on there. Since the last website update they’ve added some people to the team. Those new employees will get added to the website soon according to Stephen King (for proof look at team section below) More to the team later.

they are well connected and have the means to be very present on social media

the website contains a 7:48 minute design mockup made in Invision (https://www.invisionapp.com/) of how the platform will look like once it’s finished. But there is already a real programmed alpha, which is as good as this mockup. And that takes us to the next section.

Platform / App Design and UX

Just take a look yourself: https://alpha.rexmls.com/#!/

The design of the platform is beautiful. It’s like everything else I’ve seen so far made with a lot of love. In this 7:48 minute video:

you can see a designmockup/prototype in InvisionApp https://www.invisionapp.com/ . and how the user experience is going to be like.

Invisionapp is a tool, where you are able to put different screens together and create an easy prototype with static images. These prototypes do not have any functionallity. It isn’t programmed. BUT. As mentioned above they already have an alpha testnet for the REX-Platform. We will go more in depth in the next chapter.

Platform / App Frontend-Code

I did take a quick look at the Frontend-Code of this Plattform.

It is made with a modern SPA-Framework (Single-Page-Application-Framework), which is top notch technology nowadays. On the frontend you can see seamless page transitions, the pages load very fast, and a lot of stuff is already optimized. The visual result of the frontend programming at this stage is already very good.

Platform / App Backend and Github

Since I am not able to see the backend code of the website and also probably not able to judge the whole quality of it anyways I will add another screenshot from discord. It’s about the question: do they have code examples?

No, they don’t. Does it matter? No. Because they gave a reasonable explanation for this “problem”. Problem in quotes because this isn’t a problem at all. Most companies never release their source code.

Code is expensive and giving it away in an early development state only for it to be used by a competitor could cost them a lot.

Team

Here is a really good blog post about the REX Team : https://blog.rexmls.com/an-official-introduction-to-rex-team-members-700121e411f9

You should really read the blog post since I’ll just quote it anyways but here is a summary:

The REX team consists out of the Founders Stephen King and Russell McLernon.

Stephen King:

https://www.linkedin.com/in/stephen-king-08452515/ (not the writer by the way) seems to be an expert in everything concerning real estate.

Russell McLernon:

https://www.linkedin.com/in/russell-mclernon-37656430/ on the other hand is responsible for the technical part of the company, he’s been working on blockchain since 2010 and has worked on the very first mobile wallet for Ripple, built the first interface for building custom applications atop the NXT protocol and has been working on Ethereum smart contracts since its inception in 2015.

The other team members consists of Brock Haugen, an expert in Software engineering, Alex Jacoby an operations director that is responsible for everything account and finance, HR and sales related.

And last but not least Duke Long https://www.linkedin.com/in/dukelong/

a veteran of commercial real estate with a quarter century of experience at the forefront of the industry.

Source: https://www.facebook.com/theREXmls/photos/a.986888131448342.1073741828.986881941448961/1012968062173682/?type=3&theater A picture of Russell and Stephen.

Source: REX Discord Developer will update the landing page with new team members listed.

Roadmap

The team is working on their alpha and on the phases outlined in the whitepaper. I asked the team whether they had an official roadmap planned and this was their reply:

General MLS sector

To be honest with you guys the MLS sector is a highly fought and highly regulated one. It will be really difficult for REX to participate in it. But if it works out, and the REX team that have several real estate experts on their team most certainly believe it is, it will be a game changer for the whole sector and could become really big really fast.

Exchanges

Etherdelta written guide(s): https://www.reddit.com/r/EtherDelta/comments/6hrxjw/etherdelta_guides_for_first_time_users/?st=j8esh1g1&sh=d1030500

Etherdelta video guide:

The guide is starting at 2:00 minutes

Coinexchange:

I’ve not read anything negative about them yet and works like any other exchange and I’ve never had any problem with them.

Other possible exchanges

That sounds really promising and adds the possibility of being added on other exchanges as soon as the volume increases.

Social Media

This company is on the following platforms:

Facebook, Medium, Twitter, Discord, Gitter, Youtube, LinkedIn

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

Regularly updated, full of posts about all the different events they visit and their blogposts. On top of that you can verify the team members there because various pictures of them are posted.

Medium: https://blog.rexmls.com/

They are very active on medium. You can get a lot of informations here.

Twitter: https://twitter.com/rexmls

Rex has about 1500 followers on twitter and are very active there.

It’s mainly used as a sharing tool but you can find some unique information too.

Discord: https://discordapp.com/invite/BSe7j4C

Other companys are using telegram, they are using discord.

If you have a question just ask them on discord, I’ve been asking questions the last few days and have been getting every single one answered by either the community manager Ryan, Stephen King himself or other very helpful and nice people.

Gitter: https://gitter.im/rex-mls/rexchat

REX isn’t very active here. So better ask questions on discord.

Youtube: https://www.youtube.com/channel/UCNbMtTeAfZ2xF-mVtici9Qg

They do have a lot of awesome videos here. Check it out.

LinkedIn: https://www.linkedin.com/company/11070246/

They do have a company page at LinkedIn.

Summary

This coin has a low marketcap and I really don’t believe it deserves it.

If the team manages to get their product out and it gets as big as they’re trying to make it, it’s going to shake up the global real estate market.

It’s a risky investment still but the upside potential is incredible. The quality of their products is very high, the communication is serious and it seems like they are heading in the right direction.

Positive:

great idea with a lot of potential

low marketcap and the potential marketcap is huge

extremely cheap, in fact still cheaper than cheapest ICO price (1 ETH = 1000 REX)

working alpha available

incredible website

very ambitous developers ready and able to answer every question

Team is deeply connected to the real estate community

the project is very active in general

Negative:

Volume is very low so price is going to fluctuate A LOT until more investors move in.

until more investors move in. Their screw up on their initial ICO, but that’s a mistake in the past and doesn’t change anything about the quality of their product.

Additional info, our social media and donations

You might’ve already noticed that most of the screenshots feature “stupid this is” , and that he asked a lot of questions. “stupid this is” isn’t me. He is helping me to collect informations, writing and editing the article to improve it even further. In other words we are now two people researching projects together. :)

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DISCLAIMER

The article references an opinion and is for information purposes only.

It is not intended to be investment advice. Seek a duly licensed professional for investment advice