Crypto Exchange Listing Beneficial for Web3 Entrepreneurs?
It’s 2022, just a year after the violent non-fungible market boom that saw the popularity of Web3 world catapult to insane heights within a few months. Such has been the buzz around the virtual world bound by blockchains for quite some time around the world of startup enthusiasts. Hundreds of Web3 startups are emerging as the month's pass, with most having native tokens as the culture of providing users governance through tokens thrives. Among all other steps in developing such business platforms, crypto exchange listing plays a prominent role due to its involvement in reaching users and garnering an initial community.
Crypto exchange listing is the process of listing a Web3 project’s native token or cryptocurrency on various crypto exchange platforms such as Binance, Coinbase, and WazirX. This process is very important as a venture’s start on the ever-expanding Web3 world is almost determined here.
A project token’s liquidity, its token flow and value, its community strength, and ultimately, its success are mostly dependent on the exchange listing process.
On seeing the implications, one might wonder, Doesn’t Web3 marketing take care of all these apart from liquidity concerns?
Yes, even though carefully crafted Web3 marketing strategies help a lot, listing tokens in leading crypto exchanges enhances the overall user satisfaction and the project’s reputation.
The exchange listing process might become tedious if a venture does not have the necessary resources or the knowledge required. The process involves spreading awareness for the project’s tokens through availing access to millions of prospective investors across the globe. One must also ensure that all the relevant forms are carefully filled with the correct information, so the project becomes eligible for listing its native tokens.
The project owner must also ensure that their project’s native tokens are initially recorded at affordable prices so that investments can flow more casually and easily. It is also essential to decide on the crypto exchanges that one wants to list their tokens, as getting in through popular exchanges ensures higher visibility and possibly, higher investments.
Talking about crypto exchanges, what do these platforms do? Cryptocurrency exchanges allow users to purchase and sell cryptocurrencies and native tokens from Web3 projects. These platforms work as entry points for people new to the crypto ecosystem as they can buy cryptocurrencies using fiat transfers on these platforms since the time of Bitcoin when platforms selling BTC for USD and EURO were prevalent. Crypto exchanges can come under any centralized, decentralized, or hybrid types. Each has different levels of involvement of third parties for facilitating and managing users’ funds and the platform. Exchange listing is one of the many capabilities of these platforms, and some even have features related to decentralized finance (DeFi), such as reward-based staking.
The benefits of crypto exchange listing also include marketing aspects, as letting project tokens on leading exchanges strengthens a project’s position on the Web3 ecosystem, and the hype around it increases immensely.
A project owner can also get their project tokens marketed by the crypto exchange ventures, which can complement your marketing efforts to gather an initial community and attract investments.
Hence, exchange listing plays a crucial role in steering a Web3 project toward victory as crypto exchange platforms help them to sell their project tokens to more investors and possibly, go viral. Suppose you are someone with entrepreneurial dreams with a Web3 project under construction wanting to start revealing your tokens to the general public. In that case, there are some sources that can help you with the process through consultation and work.