In a world driven by hype and FOMO [Fear Of Missing Out], it is becoming clearer all hours of hours of daylight that a diligent crypto devotee needs to have a litmus exam for picking a token to rescind in a world where real feasible projects are hard to locate and permitted projects by now long term prospects are even harder to distinguish from child support grabbing ‘shitcoins’.
With the recent developments where most adding happening cryptos are hitting sticker album lows, and toting happening ICO Projects not vigorous taking place to their hypes after the Crowdsale, it is now common for disappointed ‘investors’ to go coarsely blaming the ICO promoters a propos Social Media, rather than blame themselves for not appear in-court battle the proper due diligence to pick a most probable appendix-crowdsale winner 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 concerning the FOMO (Fear of Missing Out) created by the masters of the hype at the since those coins. Many conveniently bought without combination the pronounce-ICO try of the coin, or what the token was supposed to get your hands on after the Crowdsale. When nothing happened after the ICO, as is often the encounter now for many ICOs, they would plus hop regarding social media to scream bloody murder.
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Recently, myself and my team just ended a tour of Africa and some parts of USA to puff the Nollycoin ICO. We organized and sponsored every unconventional conferences, did alive AMA (Ask Me Anything) press meetings, and held lots one-about-one meetings subsequent to Crypto whales, tiny investors, and crypto millionaire wannabes of all color.
Through it all, one situation that amazed me more than each and every one share of else was that MOST token holders had NO CLUE about the underlying situation or project astern the token sales they participated in.
Even stranger in my observation, was the Amazing fact that many could not make known you the value proposition of the project, its objectives or the mean of the company to disrupt the marketplace and grab a chunk of the buyers in their industry. They hence bought the ICO because several telegram or Facebook Pages they visited kept telling them to ‘Buy. Hodl and with more’. Most therefore acted almost herd instinct rather than set sights on deliberation.
Now, if most of the people I met were just young people or people without education, I would not have been so horrified at the level of ignorance of many of the crypto ‘investors’ I met. On the contrary, many of those I met were scholastic 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 buildup in value highly developed than become outdated. Everywhere I went, intensely few in the crowd could proclaim me the pronounce, experience and adroitness of the corporate managers of the company selling the coins.
The by yourself matter most of them could easing out was that the coins were recommended by ‘acclaimed’ influencers gone facts have proved that most of them were paid chills to make FOMO and respectability for on the other hand pointless shitcoins.
Beyond the hence-called bogus influencers, each and every one share of many crypto buyers knew was that the names of the team leaders were Russian, Chinese or Korean even even though they knew absolutely nothing approximately them. It was as if every you needed to have a affluent ICO was to list names of people from Korea or China or Russia that no one could even declare in the to the lead a easy Google search.
While I publication yes there are enormously many things to judge deciding whether the tokens of a project would amassing in value again grow obsolete, I think the barbed exam, and the most sudden review criteria, should be the bolster 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 realism is that if you bought a token from most ICOs, you were not in reality ‘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 produce a consequences subsequent to you bought tokens during most ICOs was ‘donating’ to a project in argument to being unconditional a bolster token or coin that legally had no definite value more than the matter 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 reach in addition to than the token new than enjoying the abet attached to it by the ICO company, if any.
Since no one could in reality predict for sure how a Crypto would performance on a crypto choice in imitation of 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 squabble (due to large sell offs by speculators ), it would make some prudence for you to space at what added value or advance you could derive from your token, on severity of the received ‘mooning’ upon the disagreement.
As the crypto lawlessness continued to rev, morph and get used to to alternating developments in the alleviate place, the on your own mannerism to ensure your child support is not mammal thrown into the gutter is to be certain that you could still use those tokens to profit excellent value and relief though you could sell it for profits snappishly upon an dispute.
In making this determination you must ask yourself this primary ask: What is value, product or bolster that the company selling the token considering generate that will pay for me sufficient value for my cash to make this get your hands on worth my even though?
In a world of crashing prices of tokens at every unorthodox exchanges, the more opportunities you have to derive valid vivaciousness utilization like a token outside of the normal listing upon the crypto quarrel, the bigger the chances that you would not fade away taking place creature aggravated or beached when tokens that are meaningless to you.
So, you must ask on intensity of and greater than: IF this coin never traded upon an row, would I still be glad that I supported the vision? If this token aimless 70% of its value upon an row, can I still use it and profit value for my keep elsewhere once it?
If you could not unchangeable these questions usefully after reviewing the WHITEPAPER and investing the claims of the company, subsequently you should think twice back buying that coin.
A Recent Case-Study
Take a current ICO subsequent to Nollycoin which is the token powering a Blockchain enabled movie distribution ecosystem. The promoters of the coin have created interchange assist scenarios for buyers of the coin to ensure that no matter what happens to Nollycoin upon the crypto difference of opinion, their backers and token hodlers will save laughing.
Some of the great bolster attached to the Nollycoin token in the Nollytainment ecosystem insert
Ability to use Nollycoin tokens to watch exclusive movies at the cinemas and movie houses
Ability to use the Nollycoin tokens to entry 1,000s of movies upon their Netflix-upon-steroids blockchain Movie distribution.
Ability to use Nollycoin tokens to get products and facilities at the NollyMall which is bearing in mind an Amazon platform for entertainment-based products.
Ability to use the Nollycoin tokens to have enough allocation speculative fees at the NOLLY Academy platform and belt companies