Coinvasity is a cryptocurrency and blockchain resource database that aims at promoting blockchain adoption through education and incentivized participation in blockchain activities. In this interview for MarkUpgrade, Awolesi Gideon, the founder of Coinvasity, talks about the origin of the brand name, why the domain name Coinvasity.com is important for his business and what is the most important thing for his brand right now.
Awolesi, you are the founder of Coinvasity. For those who don’t know yet, what does your company do and how was the idea born?
Coinvasity started out as an ICO Database for all things crypto-related. Our aim was to stockpile records of all the ICOs and pre-sales held in the cryptosphere for future references. We would also advertise upcoming startups and their project plans.
The idea for the Coinvasity brand came about in a time where ICOs where in full swing, and I realized that I could make more impact running a brand that caters for this specific niche in the cryptosphere.
Who came up with the brand name “Coinvasity” initially? Can you reveal some of the other alternative names?
The name Coinvasity came up while I and a friend were racking names for the startup. You see, before this time, I was basically into indiscriminate promotions of crypto projects for incentives, contractual payments and jobs, and even advisory roles for some select projects. But, I realized that I had already gained some influence in the space, and my indiscriminate promotions of any and all crypto projects with a check were starting to hurt some of my more interested investors(some of who reached out to me and expressed losses). So I decided to go fully corporate and institutionalize my marketing agency. Not only a marketing platform for cryptocurrencies but a place to learn about blockchain technology and Cryptocurrencies. Hence the name Coinvasity. Coin University.
When and how did you get the domain Coinvasity.com and why that has been so important for your business?
I immediately bought the domain 30 minutes after I realized it was not yet claimed. I didn’t want to chance that someone else, out there in the world has probably stumbled on what a great name Coinvasity would be as a brand, and decide to grab it up before me. So I added the domain name to cart on GoDaddy and bought it promptly.
Coinvasity.com has been very important for the business as even by the name, it already gives the viewer an inkling of what to expect on the site. And we do not disappoint. It has not only helped us prove relevant to already existing projects in the crypto space but also helped with the integration of mainstream platforms into the crypto sphere.
How do you value your brand?
Coinvasity is still very young in the space and has withstood the bear market that drove a lot of marketing platforms from the business. We are building systems that will ensure value for any and all associated with it. We have successfully adapted to the changing times in the space, not only working as a Blockchain database resource but also integrating what is most needed in the space right now which is Education. Not only to provide knowledge against mistakes but to drive adoption by adoption. Education. This feature will be unveiled in the latter part of Q4 2019. So all things being equal, I think the brand is doing well for itself right now and will be even more valuable in the coming months
If you have to explain what you do, what your brand stands for and brings to the world, in one sentence, what would it be?
Educate to the position.
You see, I heard about blockchain and Cryptocurrencies really really late. and even then it was seen as a Ponzi scheme, a project that would never last. So I steered clear away from it till a crypto meetup that I was dragged to go opened my eyes to the truth.
I figure that if I had been properly educated, had access to materials early enough, I would have gotten in when space was not so crowded as it is now. So Coinvasity will give people what I did not have when I started. A chance. A chance to gain the right education to position themselves for the future of the financial world.
When we talk about evaluating an ICO as a fundraising strategy, do you think it’s a suitable strategy for startups?
I do not believe the time of ICOs is over. What I do believe is that due diligence and education needs to be done before starting or investing in a crypto project. What led to the failure of the ICO scheme that came before was the lack of regulations in place to keep projects in check and safeguard investors. Right now, IEOs are the rave now and everyone is falling head over heels to conduct IEO for their project. No one is paying attention to the sustainability of the project and its structure. And at the end, they get burned. Exchanges cannot replace a regulatory body that is needed to protect the interest of investors. And that is why I believe the time of ICOs will come back, but this time in a more sustained manner.
What would you say is the most important thing for your brand right now?
This may sound funny, especially considering digital marketing is one of our selling points, but the most important thing we need right now is exposure and awareness, especially for our blockchain school. We plan to build blockchain applications later on, but first, we need to educate the populace and promote adoption by doing so. When that is achieved Coinvasity will implement more of her long term goals in the blockchain space.
How important is the presence of your brand online? What plays the most important role in people finding you on the Web?
Extremely important. We are a digital marketing agency after all. Coinvasity can be found on Google with a search, and our social handles are very active as well, especially on twitter.
Most of the time we get contacted from twitter, with projects and brands requesting our service. Other times we get it in the mail. So I’ll say that our social media presence plays a large role in people finding us online.
What would your advice be to entrepreneurs who are wondering whether to invest in the perfect domain match for their brand?
Any domain you buy that does not match what your brand does is just advertisement for other domains with similar names. So if you really want your brand to stand out, you have to invest in a domain that meets your needs. Take for instance dollarfuture.com is obviously a finance-related domain and it would be entirely remiss to use it for anything related to education.
What’s on the horizon for Coinvasity? What gets you excited about the future?
In terms of the long game, we are very early. Coinvasity is young enough to adapt to the changing climate of the crypto sphere and relevant enough to provide what space needs.
I have seen what the future holds if Coinvasity continues on this path, and I’m excited to see the way and manner in which it will unfold. Either way, I am determined to see it through no matter what it takes.
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Find out more about Coinvasity.com