The Epitome of a Good, Credible ICO Project in this Bearish and Scary Crypto Market
As we’ve been following the recent crypto market and its news, in this bearish market, should anyone still invest in ICOs? The answer is yes — as much as it is risky with a lot of scam projects, people should still invest in promising ICOs. If you’re looking into new ICOs to invest in, what are the things you should be looking out for besides a good white paper, a credible team and a big dream? Also, what differentiates a good project and a scam project?
One of the most important things that people don’t pay enough attention to, which indicates the potential of the project is establishing partnerships with other companies and products. Why do partnerships matter? Strategic partnerships reflect the thought process of the team — thinking about actual adoption and providing more utility for its tokens.
A good white paper and a big dream can promise you the world,with the coolest idea nobody has ever thought about or actually realised — but without partnerships and support of others (which implies adoption of product), these two are no longer of any use. Cryptocurrency has always been functioning within a pretty closed market — people who are interested may fear going into cryptocurrency, while people who are actively trading and investing have no such fears and are actually learning more about cryptocurrency and new projects, gaining courage as they go. Besides this, it is also the lack of mainstream adoption of cryptocurrency that has been proven to be one of the key factors which failed to propel projects and expand the cryptocurrency community.
If there are more partners onboard for a project, it indicates adoption of cryptocurrency and in particular, the adoption of the very token itself, further adding on to token utility. W Green Pay is an upcoming ICO which has proven to be the epitome of a good project with many strategic partnerships onboard. If you don’t know about W Green Pay (WGP) yet, it is a reward token for greenhouse gas reduction efforts. For the longest time, the cap and trade market has always been limited to corporations’ benefits — if companies do not emit the carbon based on credits assigned per year, they are able to sell these excess carbon credits to another which requires to emit more carbon, which in turn incentivises companies to cut down on greenhouse gas emissions. Huge corporations have been the only parties benefiting and being incentivised to keep the air clean — stop here and think about it — Individuals do contribute to carbon emissions, as well as greenhouse gas reduction. However, to date, individuals are unable to benefit from this cap and trade market as emission per individual has been too low to participate in carbon trading due to its minimum trade size. This is exactly where WGP comes in with its existing HOOXI Campaign.
Launched in Korea, the HOOXI campaign is backed by the Korean government and many Korean celebrities to help save the environment by encouraging greenhouse gas reduction activities. Supporting the campaign, there will be a HOOXI app launch on October 4th — this app will enable individuals, in and out of Korea, to use and complete proposed greenhouse gas reduction missions, earning mission points which will be available for conversion to WGP tokens. Facilitating the entire token ecosystem, the WGP tokens will be available for use on partnering e-commerce sites such as Lotte Homeshopping mall, as well as a recently established partnership, Zeex — a blockchain fintech company providing a secure everyday shopping platform for cryptocurrency holders, such as on Amazon.
The partnerships by the WGP team have proven that the team has been actively working on the utility of these tokens, which actually serve a great purpose of reducing greenhouse gas emissions. Another noteworthy partnership for WGP is with KONA I to produce the very first crypto card. WGP will be leveraging on KONA I’s internationalized payment platform system and advanced smart-card technology to develop a physical card for WGP tokens usage as well as an online card with will be integrated within the HOOXI app. What this mean is also that users out of Korea will be able to utilise these tokens on partnering sites and stores.
As the WGP team would have to constantly buy back the WGP tokens from the W Exchange (or any listed ones), this indicates an existing demand of the tokens which is also a vital part of the tokenomics and to facilitate the entire ecosystem. Besides this, YG Investment (if you know Korean idol group Big Bang, they’re all under YG Entertainment) is one of their latest strategic investors and partners — a fund this renowned in Korea has also stepped into investing in WGP, so what are you waiting for?
According to their website and details on their Telegram group, the token sale to public will only be happening for two weeks from 1st October (GMT+8 12noon) to 14th October (GMT+8 11.59am). No pre-sale or bonuses will be distributed — BUT their airdrop and bounty programs are ongoing right now. I do suggest for you to do some following on their social media accounts to earn some WGP tokens if you want bonus tokens!
I do see much potential in WGP moving forward. I’ll be following the project closely.