Surviving Beyond FOMO: How To Pick A Winning ICO Project For Long-Term Value

In a world driven by hype and FOMO [Fear Of Missing Out], it is becoming increasingly clear that a diligent crypto enthusiast needs to have a litmus test to choose a token to support in a world where genuine, viable projects are hard to come by and good projects with long-term prospects are even harder to come by. distinguish from money hoarding. ‘shitcoins’.

With recent developments where most new cryptocurrencies are hitting all-time lows and new ICO projects fall short of their expectations after the Crowdsale, it is now common for disappointed ‘investors’ to blame promoters of ICO on social media, instead of blaming. themselves for not doing due diligence to pick a most likely post-crowdsale winner before buying a token during their ICO.

From my extensive observation, it seemed that most cryptocurrency buyers were simply buying coins during an ICO based on the FOMO (Fear of Missing Out) created by the masters of advertising behind those coins. Many simply bought without understanding the post-ICO purpose of the coin, or what the token was supposed to do after the Crowdsale. When nothing happened after the ICO, as is often the case now for many ICOs, then they took to social media to shout a bloody murder.

Recently my team and I just finished a tour of Africa and some parts of the US to promote the Nollycoin ICO. We hosted and sponsored different conferences, held live AMA (Ask Me Anything) press meetings, and held many one-on-one meetings with Crypto whales, small investors, and aspiring crypto millionaires of all colors.

Regardless, one thing that surprised me more than anything was that MOST token holders DO NOT HAVE ANY CLUE about the underlying business or project behind the token sales they participated in.

Even stranger in my observation was the astonishing fact that many were unable to tell you the project’s value proposition, its goals, or the company’s plan to disrupt the market and capture a share of buyers in its industry. They simply bought the ICO because various telegrams or Facebook pages they visited were telling them ‘Buy’. Hodl and buy more. ‘ Most simply acted out of pack instinct rather than objective deliberation.

Now if most of the people I met were just teenagers or uneducated people, I wouldn’t have been so surprised by the level of ignorance of many of the crypto ‘investors’ I met. On the contrary, many of those I met were college graduates and people of some sort. However, less than 10% of them could easily articulate why they bought a coin with the expectation that it would increase in value over time. Wherever I went, very few in the crowd were able to tell me the name, experience, and ability of the corporate managers of the company selling the coins.

The only thing most of them were able to point to was that the coins were recommended by ‘respected’ influencers when facts have shown that most of them were paid shivers to create FOMO and respectability for otherwise useless shitcoins.

Beyond the so-called fake influencers, all that many cryptocurrency buyers knew was that the names of the team leaders were Russian, Chinese or Korean, although they knew absolutely nothing about them. It was as if all it took to have a successful ICO was to list the names of people from Korea, China, or Russia that no one could verify with a simple Google search.

While I agree that there are certainly many things to consider in deciding whether a project’s tokens would increase in value over time, I think the litmus test, and the most immediate evaluation criterion, should be the usefulness of the coin. itself out of what would happen. on crypto exchanges.

Although most crypto token owners I met didn’t even know about it, the reality is that if you bought a token from most ICOs, you weren’t really ‘investing’ in that company. You would not buy shares in the company and you would not buy any securities in the company.

And at best what you were doing when buying tokens during most ICOs was ‘donating’ to a project in exchange for receiving a utility token or currency that legally had no real value beyond the ecosystem. controlled by the issuing company.

In other words, aside from your hope that the price of the tokens will “ moon ” or rise to make you a millionaire, there is not much else you can do with the token other than enjoy the utility that the ICO company attributes to it. . If any.

Since no one could predict with certainty how a Crypto would perform on a crypto exchange when it finally got there, and more recent experience has shown that the prices of most tokens would likely plummet within the first few weeks of reaching an exchange ( due to large sell-offs by speculators), it would make some sense to look at what other value or utility could be derived from your token, beyond the expected ‘mooning’ on the exchange.

As the cryptocurrency revolution continued to accelerate, morphing and adapting to different developments in the market, the only way to ensure that your money is not thrown away is to be sure that you can still use those tokens to earn a excellent value and benefits. even if you could sell it for an immediate profit on an exchange.

In making this determination, you need to ask yourself this main question: What is the value, product, or service generated by the company selling the token that will give me enough value for my cash to make this purchase worthwhile?

In a world where token prices are plummeting across different exchanges, the more opportunities you have to get real-life utilization with a token off the expected listing on the crypto exchange, the higher the chances that it won’t end. frustrated or stranded with tokens that are useless to you.

So you have to ask yourself over and over again: IF this coin was never traded on an exchange, would you still be happy to have supported the vision? If this token lost 70% of its value on one exchange, can I continue to use it and get value for my money elsewhere with it?

If you were unable to answer these questions positively after reviewing the WHITEPAPER and reversing the company’s claims, then you should think twice before buying that coin.

A recent case study

Take a current ICO like Nollycoin, which is the token that powers a Blockchain-enabled movie distribution ecosystem. The promoters of the coin have created different utility scenarios for the buyers of the coin to ensure that no matter what happens to Nollycoin on the crypto exchange, their backers and token hodlers will keep smiling.

Some of the great utilities attached to the Nollycoin token in the Nollytainment ecosystem include

• Possibility of using Nollycoin tokens to watch exclusive movies in cinemas and cinemas.

• Ability to use Nollycoin tokens to access thousands of movies on your Netflix blockchain movie distribution on steroids.

• Ability to use Nollycoin tokens to purchase products and services on NollyMall, which is like an Amazon platform for entertainment-based products.

• Possibility of using Nollycoin tokens to pay school fees on the platform of the NOLLY Academy and associated companies.

As you can see, beyond the normal expectation of tokens being listed on a cryptocurrency exchange, you need to look beyond the hype of an ico, the immediate and prospective usefulness of the token, and the viability of the underlying project behind it. he.

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