Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Thitical Crinker on August 14, 2022, 05:33:00 PM
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I mentioned already that we (in my economy class) were given the task of "predicting" what the future of crypto would look like. We are now supposed to create our own "crypto". Not a real one, of course, but go through the motions of "making" the crypto we think will exist five or ten years for now. And we are going to present it to class and others as if it were a real crypto.
The thing is, I always get in late on anything in crypto, Im just not that deep inside the community as I always tell myself I should be. So I have no idea how _totally_ new crypto currencies really get their start. How would you get a crypto project out to people? What would you show them, where would you show it, and so on. I happily accept both traditional and innovative ideas!!
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You can convince to get into cryptocurrency if you can appeal into them emotionally and financially and yes even intellectually. There are many things that we can derive from the use of the blockchain and crypto technologies...these two should be inseparable because one without the other would make things not complete. Now, you can also appeal with their desire to be financially free...though this can be so risky as we know that nobody can tell what the future can be especially when we are talking of a single digital asset even Bitcoin. Here in this industry there is a big opportunity for growth...but on the other side of the coin things can go "winter" which is actually what is happening right now. As always, tell the whole story and let the people decide on their own so you will not be blamed with anything.
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We are now supposed to create our own "crypto".
No, too much crypto isn't good. Every crypto that is created must have technical reasons, plans, and benefits written in full in the WP docs, not just a form of implementation of overnight thoughts. The meme hype has spawned too many types of crypto that are completely useless and don't add value to the space.
We want crypto marketcap to really flow to projects that are willing and have continuous innovation.
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it's not the right time to create a project
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Everyone has a different way of introducing crypto and blockchain to others. Currently, information about the crypto market is everywhere but most do not have time to learn. I always like to use examples of applications or cases that are familiar to everyone. Most just want to know the opportunity to make a profit from this market.
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It would be good if you introduce to your audience what is cryptocurrency real case application in everyday life beside using it as trading commodities. Because with current development, you can almost use crypto in every field of innovation such as the newest like metaverse, DeFi, IoT.
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You can make a real cryptocurrency with ERC20 on BSC or Matic chain, it's so cheap and easy. After you create some token, let's say called EXP token, you can then send it to your friends' wallet. So what's the function? Well, it depends on your creativity. For example, it can be used as a community token that can be redeemed for souvenirs/gift cards. The more student contributes to the class, the more EXP token they can get. You can also simulate the real economy since you can track the circulating supply, its velocity, etc., while in the real-world situation, the government can't exactly know how much money is in circulation. It's only an approximation.
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You can use test tokens or what we call Testnet before you start new project, no need to create a real project if you want to introduce the crypto system to friends, start by providing education about how blockchain works.
You can also use this link to introduce your friends to how the Bitcoin blockchain works https://anders.com/blockchain/
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The market is in a bear phase right now and that’s not a secret. Everyone knows about the condition and during such times if you try to show any project, you won’t get a good response. Simply wait for the market to recover and then take any step.
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People seem to misunderstand: We are not making a new REAL crypto, we are presenting a THEORETICAL crypto at a Digital Economics seminar. We still want it to look good enough to be real, though, so we're doing the research.
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People seem to misunderstand: We are not making a new REAL crypto, we are presenting a THEORETICAL crypto at a Digital Economics seminar. We still want it to look good enough to be real, though, so we're doing the research.
Do consider that, if you come up with a great idea... not to be created in reality, but just to satisfy the task your teachers have given you... I'm not sure if it's worth the sacrifice. Because you can be sure some serious guys will just pick your idea up and code it into reality in no time. Crypto thrives on innovation, no good idea goes unchecked, have it in mind.
Suppose you already have your idea. You are now asking, how do you do the marketing.
Marketing wise... if you want to promote your crypto project, it's best to have a coin. The coin of a crypto project is like its product. You can tell people what your crypto project is about all day. How it will change the world, what a big innovation it is, etc... The attention you will get will be unsatisfactory. The coin is like a product, the crypto version of a "company share", it's the means by which people express their support to your project or protocol. (token utility is another beer, we're talking marketing here)
Now that you have a coin, you can actually tap into the marketing value of all the paid reviews, interviews and big media articles you issue out there.
But one particular marketing move you can use your coin for is an airdrop - this proves to be one of the best marketing moves out there, currently. Airdrop some tokens to your target audience to make people research what's that thing that arrived in their wallets.
Now, how to go about with an airdrop, that is how you get the wallets of your target audience - one idea is to explore how bounties and airdrops are organized in this very forum. Just an example.
So - to summarize:
- You need paid reviews and articles, social media channels, a blog for self-issued articles, standard marketing stuff
- You need to issue a token/coin - that's the way people can show their support, otherwise standard marketing stuff are unproductive
- Strong move - do an airdrop with your token. It will help with distribution too.
Just my 2 cents :)