The Noah Project uses Noah Coin as the internal cryptocurrency, circulating throughout all the projects that are being developed. This helps incentivize demand and velocity of the coin within the ecosystem. The Noah team focuses on delivering infrastructure projects in the Philippines, bringing value to real people. In what ways can contributors see the potential of other projects to provide such usefulness?
#1 Find Coins
As a first step, crypto enthusiasts are advised to use ICO tracker websites, such as ICOalert and ICObench. Here, it’s possible to apply various filters and identify ICOs that meet specific requirements of particular contributors.
You can filter projects by ratings, fields and dates, on which the fundraising campaign starts and finishes.
It can be a good idea to identify campaigns that you like in advance and make a contribution at the presale stage, benefiting from significant discounts.
In addition to supporting ICOs, you can also buy coins that are already on the market. Look for them in listings like Coinmarketcap.
#2 Read the White Paper and Understand How Unique the Idea Is
Today, it’s vital for an ICO to have a unique idea behind it that will help the project implement the blockchain technology within a particular niche.
The White Paper is the key document where the team presents the core goals and strategies behind the project. With its help, contributors can clearly see the underlying concept of the venture and details how it will be implemented.
Among other assets, short video explainers and blog posts can help crypto enthusiasts learn about examples of how the ecosystem will solve the problems of particular target audiences and how blockchain can be applied in particular situations.
#3 Research the Team
It’s real people that carry out projects, so contributors should research the team behind the ICO. Generally, it’s great to see the mix of talents and professionals in a specific industry which the project seeks to disrupt, as well as blockchain and software developers.
As a rule, team members publish their LinkedIn accounts where you can see the previous jobs, background and recommendations that they have earned throughout their careers.
#4 Consider the MVP
The minimum viable product (MVP) is used to show the minimum functionality of the ecosystem. In this way, contributors can evaluate its potential benefits to the target audiences.
Today, many ICOs launch without the MVP being completed and use exclusively the proof of concept in the form of the White Paper. It’s fully understandable since it might take a lengthy period to develop the MVP.
#5 Look into the Community
You can read what other people say about the project in social media, such as Reddit, Twitter and Facebook, as well as the theme forum, Bitcointalk.
At Bitcointalk and Reddit, you will be able to find a lot of other contributors who go through the same decision-making process as you.
Moreover, almost all ICOs have their own Telegram groups where you can chat and directly ask all the questions you have.
As you can see, researching an ICO might take a lot of time and energy. You will need to familiarise with various blockchain concepts and economics of individual projects. In this light, supporting an already trading coin might seem as a viable option.
When purchasing coins like Noah Coin, you get a chance to take part in the projects that are already being rolled out as compared to those initiatives that are not yet “out of the gates”. For instance, Noah Project has been developing Noah City (a residential and commercial complex, which is to be constructed in the business district on the reclaimed land Horizon Manila in the city of Manila, the Philippines) and Noah Resort (mixed-use vacation center, where visitors will be able to transact in Noah Coins and benefit from discounts). The Philippines features above-average growth rates up to 6% per year, low penetration of banking services and high penetration of smartphones, which makes its population extremely interested in alternative methods to buy things and transfer money, such as cryptocurrencies and blockchain in general.
