What is the tokenomics?
With the growing popularity of cryptocurrency, various tokens began to be issued.Some companies see their mission in creating an ecosystem with their own cryptocurrency. In such cases, tokens becomes the core of the project. In this projects, the creators conceive the condition that users must use their tokens. People can take full advantage of platforms only when they take part in the turnover of tokens. In practice, platform users can buy and sell any goods or services only for tokens of a specific platform. An ecosystem in business, where tokens are the main link of all operations within the platform — called tokenomics.
What is tokenomics for?
Platform tokens exert great importance on the external and internal environment of the project.Firstly, it is innovative, because if the platform has a pivot in the form of a token, it is easier for it to develop other solutions and new functions within the project. Secondly, the use of specific tokens within one platform is convenient, because unnecessary barriers to any exchange operations are destroyed.Finally, the platform becomes an integral ecosystem and less dependent on the state of the environment. It is safe to say that tokenomicsis the most effective model of the innovative business at the moment.
How to apply tokenomics in practice?
Let’s begin to study such projects from the moment they enter the market — from start of ICO. It can be confidently asserted that such projects at ICO sell a record number of tokens. It is not uncommon for ICO to close with a success of millions dollars for the first day!
For example, Brave Software gained fame because of the success at ICO. After the cryptocommunity learned about their economic model using BAT tokens, they were able to collect at the ICO 35 million US dollars less than one minute.The essence of this project is the creation of a web browser in which advertisers buy advertising placement for tokens. Users also receiveBAT tokens for viewing advertisements.
Another impressive example is the MobileGo platform. At ICO the team of creators managed to attract more than 50 million US dollars. The project includes a market for products in the field of games. Developers with the help of GAME tokens offer to exchange various games. The mobile games market is very promising, so we should expect the development of the project.
Golem deserves special attention. The Golem team managed to attract 8 million US dollars in just half an hour! In a supercomputer environment from the Golem team, users and miners use GNT token to share their needs. For example, miners sell their power to users for GNT tokens.Of course, there are other roles that create codes, sell or buy information using GNT tokens. All this shows that Golem team managed to create an entire ecosystem, which is called tokenomics.
From future projects can be identified Qvolta platform. The mission of the project is to create the first P2P cryptocurrency-fiat exchange platform which supports Ethereum. Developers plan to launch a mobile application for iOS & Android, where sellers will buy tariff plans for QVT tokens. At the same time, the cost of the tariff plans will depend on the number of ETH or BTC tokens the seller wants to use. As a result, the platform will reach minimal commissions for the use of exchange technologies.As in similar cases, using the platform will be impossible without buying QVT tokens.
We see a trend of cryptocurrency and ICO that at the moment has no end. But now it can be confidently asserted that this trend is now in the gap of the tokenomics. The economy contributes to the development of decentralization and simplification of various operations. In addition, for business, the methodology of the tokenomics will be decisive in the dynamics of the mass of selling tokens. Undoubtedly, projects using the tokenomics are more successful in Token Launch, because they look more promising and successful.