Make it or break it: What makes a crypto project viable
Initial coin offerings (ICOs) have boomed in recent years. Almost everyone wanted to jump in on the ICO hype train. The number of crypto projects grew by 12 times since 2016! The main question is how many of them did not fall out of the race.
Only forty-three ICOs were launched in 2016, which raised over $95 million. Since there were just a few blockchain projects in the market, it was relatively easy to achieve success. NEO, Lisk, DAO, Iconomi, Digix, Waves, and others were among the popular projects that year. NEO, which is often called a Chinese Ethereum, was at the height in those years and managed to attract $4.5 million.
The ICO market burst in 2017 when crypto projects began to sprout like mushrooms after the summer rains. Their number significantly grew up to 210. Imagine that startups raised over $3 billion through ICOs last year! The most recognizable ones included EOS, Bancor, Bankex, Filecoin. The latter was the most successful among them and got $257 million.
For 2018, 537 ICOs with a total volume of more than $13.7 billion have been conducted over five months, according to the audit firm PwC. The ICOs of EOS and Telegram should be mentioned here since they generated $4.1 billion and $1.7 billion, respectively.
Unfortunately, scammers and weak projects without any powerful plans and ideas appeared in the industry together with really cool ICOs. That’s why nearly 50% of them lost based on the study of the consulting and research company GreySpark Partners.
Successful ICO is only half the battle. The major task is to turn into viable and strong projects. To reach this goal, the ventures should have a precise idea capable to unite a wide range of like-minded persons. The clear concept allows ICOs to shine and let them move on.
What are the most promising projects of 2018? Entrepreneur, a famous American business magazine, named four best blockchain companies of the current year. The authors are confident that these four projects are able to utilize the awesome blockchain technology “in an open, innovative, and professional manner”. Meet AdHive, Blue Whale, VeCap, and the Noah Project.
AdHive is an AI-controlled influencer marketing platform. It offers a fully automated, blockchain-based solution for mass placement of native video ads on influencers’ channels. Blue Whale is a decentralized platform for freelancers. Its aim is to create the largest blockchain-driven ecosystem where self-employed people can do what they like and receive their earnings without any problems. The German based project VeCap is going to struggle with the comfort and security system vulnerabilities employing the smart solutions.
Founded in 2016, the Noah Project has already gained the credibility of crypto community and successfully reached several milestones on its road map. The ultimate goal of the project team is to build an ecosystem powered by blockchain and cryptocurrencies, as well as gather crypto enthusiasts under the same roof.
To bring this idea to life, the Noah Project is going to make their response to the Swill Zug and create a crypto hub in Asia. It is expected to bring together traders, entrepreneurs, and other people interested in cutting-edge technologies and ready to use them.
The hub to be called Noah City is now under construction in Horizon Manila, the future largest business district in the Philippines. In addition, the project team is developing a future crypto harbor for travelers, who will be able to utilize digital money not only for business but also for entertainment. Noah Resort will be located at the picturesque Dakak Beach Resort. Guests will get a wonderful chance to relax and participate in various sports activities.
Besides, the team has developed a blockchain-based remittance system. Thanks to this solution, overseas workers will be able to reduce their money transfer fees by several times and send more earnings to their families.
The Noah Project is based on a token known as Noah Coin, using which users will get various discounts and bonuses. It is currently available on HitBTC, Changelly, BTC-Alpha, Mercatox, Livecoin, and YoBit. What’s more, Noah Coin is listed on CoinPayments, one of the most popular cryptocurrency payment processing platforms. The service supports over 880 cryptocurrencies and allows traders to deal with tokens all over the world. This achievement allowed the team to represent Noah Coin to millions of merchants and strengthen its positions in the market.
Gradually meeting its high-flying targets, the Noah Project is firmly moving ahead in order to create a world without bounds and help people enjoy all the wonderful opportunities provided by cryptocurrencies and blockchain. As you see, only those ventures that have distinctive ideas and goals can survive today. The hype times are gone, and the market participants are more exacting now.