Pre-TGE vs. Post-TGE Company Operations
One of the issues that differentiates the successful blockchain projects from the failing ones is the ability to deliver their roadmap milestones after the token sale is complete. Part of the reason why the blockchain space has the reputation it does, specifically to outsiders, is because there are a significant amount of projects that are more focused on fundraising than development. These projects are a prime example of what tarnishes the reputation of the industry. That being said, it would be unjust to not credit the exact opposite; to applaud the projects that buckle down and use the funds for the proper reasons, which primarily includes all areas of development.
Conducting an ICO or TGE is something that very few people have experience with in the entire world, and this is because of the fact that blockchain is still so new. Regardless of the corporate or business experience that someone may have, it’s rather difficult to transition to the blockchain industry because typical business practices that would normally work in the standard business world do not apply to this industry.
The crowdsale serves as an extremely important method of raising funds for projects, but only if the funds are allocated properly. Investors put their trust into projects and expect them to deliver, especially given the current climate of the market. It is becoming increasingly more difficult to raise money for ICOs not just because of the bear market, but also because investors are becoming increasingly smarter as more of them gain knowledge and experience about cryptocurrency and blockchain. They look for vital aspects such as:
- Team and Advisor experience
- An accomplishable roadmap
- A fair hard cap
- Strong tokenomics
- Minimum Viable Products (MVPs)
This is very good for the industry, though. What this will do is weed out the projects that are mediocre at best simply by a survival of the fittest strategy, the Darwinism of the blockchain space. With exchange volume down massively since the December bull run, and billions of dollars less in the industry as well, only a select number of projects will be receiving large amounts of money at least until the market turns around. In addition, it will be difficult for the low-funded projects to carry out optimal business practices, especially if they do not have a revenue generating product yet.
This also can be good for the industry because it will force projects to work smarter instead of having an abundance of funding available to splash around various departments. Thus, both the blockchain projects and the blockchain community members will gradually become smarter as we get close to inevitable regulation down the road. So we can expect many projects to wither away and not survive the oncoming storm, which again will be an effective method of strengthening the industry as a whole. What we will be left with is a decent handful of the strongest projects out there to control the market and secure blockchain’s mass adoption plan to build its credibility and real-world adoption by reaching the masses.
Arguably the most important point here is that only the top-notch blockchain companies have an effective plan for post-fundraising operations to provide an innovative product to the public, both in a timely and transparent manner. Raising the money is not the difficult part of being a project in the blockchain space, it is properly using the funds to achieve all of your goals and building a product that not just your supporters but also the entire market can be proud of.
Elysian fully understands this concept and we speak about it internally very often. We are aware that Pre-TGE and Post-TGE are two completely different means of existence that require strategies that are polar opposites from one another. It is our duty now that we have reached our hard cap to adhere to the strict milestones that we’ve created in order to put together a product that will rival even the strongest of off-chain Ecommerce platforms, such as Shopify. We acknowledge the fact that the future is bright and we are committed to achieving these goals with the help of a powerful community and strong strategic partnerships, along with our team that has extensive experience with Shopify. The Elysian team is extremely confident in our ability to become industry leaders and we are happy to have a supportive community that will follow us on this incredible journey!
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