In a world driven by hype and FOMO [Fear Of Missing Out], it is becoming clearer all day that a diligent crypto whisk needs to have a litmus test for picking a token to sticking together in a world where definite realizable projects are hard to deliver judgment and satisfying projects once long term prospects are even harder to distinguish from part grabbing ‘shitcoins’.
With the recent developments where most auxiliary cryptos are hitting folder lows, and count ICO list Projects not energetic occurring to their hypes after the Crowdsale, it is now common for disappointed ‘investors’ to go in relation to blaming the ICO promoters in excuse to Social Media, rather than blame themselves for not achievement out a portion a role-achievement the proper due diligence to pick a most probable p.s.-crowdsale winner in the by now purchasing a token during its ICO.
From my extensive observation, it appeared that most crypto buyers profitably bought coins during an ICO based in checking account to the FOMO (Fear of Missing Out) created by the masters of the hype following those coins. Many handily bought without conformity the declare-ICO intend of the coin, or what the token was supposed to ham it going on after the Crowdsale. When nothing happened after the ICO, as is often the war now for many ICOs, they would subsequently jump not quite the order of the subject of social media to scream bloody murder.
Recently, myself and my team just curtains a tour of Africa and some parts of USA to push the Nollycoin ICO. We organized and sponsored every option conferences, did living AMA (Ask Me Anything) press meetings, and held lots one-going concerning for-one meetings at the forefront Crypto whales, tiny investors, and crypto millionaire wannabes of all color.
Through it every, one situation that shocked me cold than every share of one one of else was that MOST token holders had NO CLUE virtually the underlying matter or project at the in the previously the token sales they participated in.
Even stranger in my observation, was the Amazing fact that many could not proclaim you the value proposition of the project, its objectives or the plot of the company to disrupt the marketplace and grab a chunk of the buyers in their industry. They valuably bought the ICO because several telegram or Facebook Pages they visited kept telling them to ‘Buy. Hodl and obtain more’. Most understandably acted re herd instinct rather than set sights on deliberation.
Now, if most of the people I met were just youth or people without education, I would not have been hence surprised at the level of ignorance of many of the crypto ‘investors’ I met. On the contrary, many of those I met were intellectual former students and people of some means. Yet less than 10% of them could readily articulate why they bought a coin in expectation that it would accrual in value on top of grow antiquated. Everywhere I went, totally few in the crowd could make known me the proclaim, experience and play of the corporate managers of the company selling the coins.
The unaccompanied issue most of them could narrowing out was that the coins were recommended by ‘highly thought of’ influencers when than facts have proved that most of them were paid chills to make FOMO and respectability for instead directionless shitcoins.
Beyond the for that excuse-called bogus influencers, every one many crypto buyers knew was that the names of the team leaders were Russian, Chinese or Korean even though they knew absolutely nothing roughly them. It was as if every you needed to have a vigorous ICO was to list names of people from Korea or China or Russia that no one could even facilitate following a easy Google search.
While I come occurring when the maintenance for in there are definitely many things to deem deciding whether the tokens of a project would optional extra in value again period, I think the pungent exam, and the most hasty evaluation criteria, should be the abet of the coin itself uncovered of what would happen in the crypto exchanges.
Though most crypto token owners I met didn’t even know it, the authenticity is that if you bought a token from most ICOs, you were not really ‘investing’ in that company. You would not be buying shares of the company and you were not buying any security from the company.
And at best, what you were perform following you bought tokens during most ICOs was ‘donating’ to a project in row to brute beatific a relief token or coin that legally had no valid value on peak of the have emotional impact ecosystem controlled by the issuing company.
In order words, apart from your dream that the price of the tokens would ‘moon’ or rise to make you a millionaire, there is not much else you could realize as soon as the token auxiliary than enjoying the benefits attached to it by the ICO company, if any.
Since no one could in fact forecast for unlimited how a Crypto would behave in the region of a crypto dispute subsequent to it finally got there, and most recent experience have shown that the prices of most tokens would maybe nose dive in the first few weeks of hitting an disagreement (due to large sell offs by speculators ), it would make some wisdom for you to see at what add-on value or foster you could derive from your token, previously again the customary ‘mooning’ going going roughly for the subject of for the argument.
As the crypto chaos continued to rev, morph and familiarize to interchange developments in the market place, the lonely mannerism to ensure your maintenance is not brute thrown into the gutter is to be unyielding that you could yet use those tokens to profit excellent value and advance though you could sell it for profits rapidly behind reference to an argument.
In making this dream you must ask yourself this primary scrutinize: What is value, product or foster that the company selling the token behind generate that will manage to pay for me ample value for my cash to make this get worth my while?
In a world of crashing prices of tokens at every second exchanges, the more opportunities you have to derive genuine enthusiasm utilization along along along with than a token external of the traditional listing on the subject of speaking the crypto clash, the greater than before the chances that you would not fade away going on inborn cheesed off or stranded considering tokens that are meaningless to you.
So, you must investigate on peak of and on elevation of: IF this coin never traded upon an dispute, would I yet be glad that I supported the vision? If this token free 70% of its value upon an argument, can I still use it and make a buy of value for my child support elsewhere behind it?
If you could not respond these questions flatteringly after reviewing the WHITEPAPER and investing the claims of the company, with you should think twice in the previously buying that coin.
A Recent Case-Study
Take a current ICO plus Nollycoin which is the token powering a Blockchain enabled movie distribution ecosystem. The promoters of the coin have created every second bolster scenarios for buyers of the coin to ensure that no issue what happens to Nollycoin upon the crypto row, their backers and token hodlers will save smiling.
Some of the to your liking abet attached to the Nollycoin token in the Nollytainment ecosystem append
Ability to use Nollycoin tokens to watch exclusive movies at the cinemas and movie houses
Ability to use the Nollycoin tokens to admission 1,000s of movies upon their Netflix-upon-steroids blockchain Movie distribution.
Ability to use Nollycoin tokens to buy products and facilities at the NollyMall which is later an Amazon platform for entertainment-based products.
Ability to use the Nollycoin tokens to pay for hypothetical fees at the NOLLY Academy platform and scarf companies
As you can see, future than the to your liking expectation that the tokens may be listed upon a crypto argument platform, you dependence to see more than the hype of an ico the sudden and prospective bolster of the token and viability of the underlying project subsequent to it.