The total valuation of Lykke is about $ 66 m.

If that is expensive or cheap - it's impossible to say that and nobody else can decide for you. What an Investor buys is future potential like always.

But I can tell you my personal view on Lykke in comparison to other ICO's.

Not sure if you've heard about Augur: https://www.augur.net
It is about a prediction-market-platform. The ICO price was at about $0.53 if my information-source is correct. Right now it trades at $7 and a marketcap of > $70 m.

And I don't know much about that project but as far as I know it is more about a promise yet. In my opinion it is a hype. Maybe one with potential but I don't see much to say "yeah nice price, it should be above $70 m!"

Lykke is already there. It is a working exchange. There is proof that they are able to build user-friendly applications and there is already proof that they are very fast in development. If LKK already would trade on an exchange since months, the price would have exploded with the release of their App. I'm sure about that because that is how Crypto-markets react. The market also would react on every word of Richard Olsen, a man who has much experience as founder and CEO (Oanda - forex trading). Even more it will be about the expertise and connections of him and his team in all kind of important areas.

If I try to find weaknesses I see only one until now: A lack of attention. But I also know that they see this ICO just as a first step into the public. It's not even that much about money. If I try to find reasons why this should fail - not be used, I really find nothing. Because: Even those who don't want to invest and even more those who don't know about Lykke at all, will find interesting what this platform will offer. Everybody can use it for free - zero fee. And nobody needs to store his money on an exchange and live in fear of hacks etc.

There are so many incentives while they are very good in removing barriers that I have no doubt that it will be used. And when that starts it's nearly a safe prediction that it will grow and grow and grow. And in my opinion it's about two main-aspects:

1. Access for everyone - userfriendly (still very rare in Crypto)
2. Security - people want to feel safe and that is very hard in Crypto and beyond

And that's why I invest. I see as "proof-of-abilities" what already is delivered. But what I buy is the potential I believe to see. And while nothing is without risk, this is unlikely to fail if I compare it with other projects that want the same while Lykke is superior on all fronts I know of.