Investing in tokens with actual functionality and turning a profit: Viewly, POA Network and more
The other day I had a glance at the top 100 tokens on coinmarketcap. Upon further review I noticed a fair amount of overvalued tokens which are backed by pure speculation. Don’t get me wrong, you could definitely make amazing returns with a ton of hype but you will assume more risk with a coin that has no purpose.
In my crypto investing experience, in order to get amazing gains you want to invest into a coin worth hanging onto long term, or else you’ll be stuck bag holding a hype coin that could end up completely worthless.
Identifying the use case
Below I go over fundamental analysis on a few note-worthy projects. Although this list is highly opinionated, I have kept it simple to understand and to the point when it comes to their use cases while at the same time provide reasoning for why these coins/tokens have more potential than overhyped projects.
The key to making incredible gains are to be the first through the door in a useful project.
Investing in the crypto space doesn’t always have to be directly compared to going to a casino. As a matter of fact, I have had great experiences over the last 2 years supporting great projects which coincidentally led to a substantial amount of profit in my portfolio.
Verdict: The VIEW token is designed strategically to power the future Viewly video platform and intended to be a reward token for quality content creators. By introducing a tweaked patreon model, Viewly is able to cater to the masses by removing low quality creators and giving direct support to the best creators with no middleman. The alpha version of their application was built on the Steem blockchain and their new system has been in development for the last few months. The core team has been focusing heavily on product development instead of marketing a shit-coin like everyone else. With this said, I can only see extensive growth ahead for the Viewly project.
- Fully functional beta built on the Steem Blockchain
- Highly reputable team members
- Plentiful room for major growth
Verdict: The VICO token is Verified ICOs native voting token for their new review platform. It serves a general purpose and has built a solid reputation in the ICO space. They recently did an airdrop (which is still on-going) to their community to promote the new Smart Contract powered voting platform and it definitely looks killer. Provided the Blockchain space keeps on growing (… and the trend is definitely in that direction) this token will become more in demand as reputable projects will want their projects listed with credibility.
- No ICO.
- A real utility token.
- Still in infancy stages and therefore, lots of near future growth potential.
Verdict: Chronobank is currently sitting at a 29 million dollar market cap as of 1/13/2018. Their ChronoMint backend has been out for awhile now and their LabourX platform is scheduled for release in Q1 2018 which is right around the corner! With the upcoming platform launch happening this quarter, this project should see a substantial rise in demand for its token. It’s extremely undervalued if you compare it to many other tokens that have 100 times larger market caps, 0 lines of code written and even plagiarized whitepaper content. Sergei Sergienko is a well known authority in the space and the LabourX platform will definitely showcase his finest work.
- LaborX platform at final development stages.
- Highly reputable team members.
- Undervalued at its current market cap.
Verdict: Rublix unveiled its finance powered platform early 2017 and recently announced that they are doing an airdrop to prepare the launch of their prototype built on the Ethereum blockchain. They recently presented at the North American Bitcoin Conference in Miami and sparked a lot of interest by big names. This unique venture will definitely have an effect on the finance industry and even has the potential to disrupt it as a whole. Major players in the Hedge fund sector will have uses for the Rublix platform.
- No ICO.
- An actual proprietary blockchain project.
- Still at its infancy stages, when their chain is deployed many Wall Street guys will have use for their innovations.
Note: I currently have a small contribution in the Pre-ICO for the Viewly project as well as a small stake in the Chronobank project. If anybody decided to participate, do not ever invest more than you are willing to lose. An investment no matter how credible the team is (take Tezos for example), can always go the opposite way. Another promising project I will cover in the coming weeks is POA Network — A public Ethereum side-chain with modified POA consensus model based on Parity’s open-source release.