What is the value of CMC Crypto Awards 2024?

[KryptoBull]

We live in a world where development happens every day. We have a series of events, awards and titles every year for smartphones, cars, movies, music, sports, celebrities... However, the vibrant crypto community does not have any official awards yet. The community of each project often evaluates itself that its project is the best and better than the rest of the projects in the same segment.

I don't deny each personal opinion about their favorite projects in the crypto market, but we also need an official event and awards to honor the best projects in the crypto market. And Coinmarketcap is doing just that.

CoinMarketCap, the leading cryptocurrency price-tracking website, is making waves in the crypto sphere with the launch of its first-ever CMC Crypto Awards^[1]. This virtual event, running from February 21st to March 6th, 2024, aims to celebrate and recognize groundbreaking individuals, projects, and initiatives shaping the future of cryptocurrency and Web3.

The CMC Crypto Awards encompass a diverse range of categories, advancing achievements across various segments of the crypto ecosystem. I'm not sure how CMC chooses, but it seems to involve a unique blend of factors: data-driven insights from CoinMarketCap, expert evaluation, and crucial community input to ensure a comprehensive and representative selection of winners, reflecting the collective voice of the crypto community^[2].

There are the nominees in each category:

• Cryptocurrency of the Year: Ripple ($XRP), Solana ($SOL), Chainlink ($LINK), Ethereum ($ETH), Toncoin ($TON).
• Meme Coin of the Year: PePe ($PEPE), Milady ($LADYS), Memecoin ($MEME), Bonk ($BONK), ORDI ($ORDI).
• Most Innovative NFT and Gaming Project: Blur, Pudgy Penguins, BendDAO, Big Time, Immutable.
• Bridge Builder of the Year: BlackRock, PayPal, Starbucks, Nike, Reddit.
• Social Influencer/KOL to Watch: LookOnChain, ZachXBT, CryptosRUs, Wendy O, The DeFi Edge.
• Most Innovative DeFi Project: Uniswap, UniBot, EigenLayer, MakerDAO, Friend.Tech.
• Crypto Leader of the Year: Changpeng Zhao, Ryan Selkis, Vitalik Buterin, Brian Armstrong, Julia Leung.
• Most Innovative L1/L2/Cross-Chain Project: Arbitrum, Axelar, ZKSync Era, Celestia, Aptos.

For me, the CMC Crypto Awards mark a significant milestone in the evolution of the crypto space. By remaining and celebrating exceptional contributions, CoinMarketCap fosters a culture of appreciation and encourages continued innovation within the industry. I believe that the nominees on the list all deserve to be winners. I will follow this event and wait for the results on March 6.

I'd like to hear your opinion about this event:

• Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?
• What impact do you think this event will have on the crypto market?
• Do you consider the award nominations when making investment decisions?

References:
[1] CMC Crypto Awards 2024
[2] The First-Ever CMC Crypto Awards Coming in 2024 From CoinMarketCap
Note:

• My opinion was posted first in that topic, on Bitcointalk
• I leave the source link to avoid plagiarism accusation.
• I excluded/ included minor things from an original thread ^{if necessary}.

Update: CMC Crypto Awards 2024 Winners:

Crypto of the Year: SOLANA
Meme Coin of the Year: BONK
Social Influencer To Watch: ZACHXBT
Bridge Builder Of The Year: BLACKROCK
Most Innovative NFT & Gaming Project: PUDGY PENGUINS
Most Innovative L1/L2/Cross-Chain: CELESTIA
Most Innovative DeFi Project: UNISWAP

[TomPluz]

For me, the CMC Crypto Awards mark a significant milestone in the evolution of the crypto space. By remaining and celebrating exceptional contributions, CoinMarketCap fosters a culture of appreciation and encourages continued innovation within the industry. I believe that the nominees on the list all deserve to be winners. I will follow this event and wait for the results on March 6.

I'd like to hear your opinion about this event:
Are you interested in the CMC Crypto Awards 2024?
What impact do you think this event will have on the crypto market?
Do you consider the award nominations when making investment decisions?

The whole crypto industry needs an outfit that will be giving away recognitions every year just like what we know of Hollywood's Oscars recognizing exceptional talents and creativity in the entertainment industry. I am hoping that soon CMC Crypto Awards would be gaining an industry-wide status and be recognized even by the outside world. I can see that this is going to be a very interesting event and hopefully this year this will be doubly more significant because of the recent developments in the crypto market and the coming halving as well. We know that with recognition comes the incentive to do more and better things not just for the recipients but also for those who are just lurking in the audience. This can promote more excellence, professionalism and innovations...not to mention the necessary unity and camaraderie within the industry. To me, award nominations can speak a lot of volume on a particular platform and can influence my judgement but will not be the sole ground for my decisions. So am looking forward to watch the awarding night and I am hoping it would go LIVE on CMC so we can all watch the glitter, elegance and glamour of the crypto industry.

[Evgenklm]

The cryptocurrency community is rapidly evolving, and I believe it's important to recognize the contributions of the best projects and individuals in this field. The CMC Crypto Awards by CoinMarketCap is like an acknowledgment of leadership and innovation in the world of cryptocurrency. It allows us to highlight and reward those who make a significant contribution.

[ABCbits]

I'd like to hear your opinion about this event:

• Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?
• What impact do you think this event will have on the crypto market?
• Do you consider the award nominations when making investment decisions?

1. Not interested, such award/nomination usually is about which one is most popular.
2. Free promotion for nominates and it's winner. I also expect other website or community will try to create their own awards.
3. Yes, although it won't be main reason whether to invest on something and only if the awards actually have noticeable impact.

[Faisal2202]

Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?

Yeah, I am interested and thanks for sharing this information with us, I did not know about it before, and you said there is no award-giving function in the crypto history and I was shocked to hear that because there have been many small and big functions, like The London Crypto Awards, The Global Blockchain Awards, The Crypto Awards, etc. And there are many others. But yeah another one will do just fine as more awards functions means more rewards to new projects, and more motivation as well.

What impact do you think this event will have on the crypto market?

More adoption, more motivation to developers to come up with new ideas, I hope these awards-giving platforms won't forget those who failed to be on the nominee list, because a little motivation is all needed for developers besides money.

Do you consider the award nominations when making investment decisions?

What does this have to do with investments, are they going to buy assets, sell assets, burn assets, or do anything to the assets, utility tokens of the projects that are in the nominee list. If not then it won't have any impact.

[MrSpasybo]

The whole crypto industry needs an outfit that will be giving away recognitions every year just like what we know of Hollywood's Oscars recognizing exceptional talents and creativity in the entertainment industry. I am hoping that soon CMC Crypto Awards would be gaining an industry-wide status and be recognized even by the outside world. I can see that this is going to be a very interesting event and hopefully this year this will be doubly more significant because of the recent developments in the crypto market and the coming halving as well. We know that with recognition comes the incentive to do more and better things not just for the recipients but also for those who are just lurking in the audience. This can promote more excellence, professionalism and innovations...not to mention the necessary unity and camaraderie within the industry. To me, award nominations can speak a lot of volume on a particular platform and can influence my judgement but will not be the sole ground for my decisions. So am looking forward to watch the awarding night and I am hoping it would go LIVE on CMC so we can all watch the glitter, elegance and glamour of the crypto industry.

A few years ago there were indeed a few awards like CryptiesAwards or Blockchain Awards but they were soon forgotten or did not have any positive impact on the market. This CMC Crypto Awards could be a groundbreaking event to recognize outstanding contributions, encourage innovation and promote the development of the crypto market, helping the crypto market to be promoted and reach traditional investors. I agree with you, we can see it as the Oscar of the crypto world ^^

I will vote for Solana, ORDI, Immutable, BlackRock, LookOnChain, Friend.Tech, CZ, Arbitrum.

[electronicash]

Do you consider the award nominations when making investment decisions?

most likely when its nominated its a free promotion of the project which many off the investors will finally notice the project. are the nominees listed by OP already final?
i am not seeing old projects nominated actually, it seem like they are buried down the pages of new projects in CMC. i have not heard of the projects that are nominated even the nominated influencers seem unknown to me but CryptosRUS.

i'm wondering what will be the prize for those projects who will win.  this kind of event will spread the word later, the coingecko i think should also be doing this. 

[Dr.Bitcoin_Strange]

Well, I think this makes sense but I don't think it can make any positive effect in the crypto space. This aware could go to the best performing alt coins and the CEO of any of those projects could be access to receive what ever reward that comes along but what if the award is won by Bitcoin, what's the reward and who will get prize? Satoshi is not know by anyone, so who claims the prize?

[Cryptsafe]

For the first time I am seeing this and rightly on this platform. To be frank, I have been visiting CMC daily for claiming of their CMC daily diamond and I have no knowledge about the forth coming CMC awards. This is a good idea and a move to motivate more activities in the Crypto space. I believe this award would steer up more action from other crypto enthusiasts all over the world to contributing their own quota within their capacity to further build and create more awareness that would call for adoption of Crypto globally.

[Trongduy]

For the first time I am seeing this and rightly on this platform. To be frank, I have been visiting CMC daily for claiming of their CMC daily diamond and I have no knowledge about the forth coming CMC awards. This is a good idea and a move to motivate more activities in the Crypto space. I believe this award would steer up more action from other crypto enthusiasts all over the world to contributing their own quota within their capacity to further build and create more awareness that would call for adoption of Crypto globally.

In the past, there were also a few events honoring projects in the crypto market but they were not very famous, then they all fell into oblivion or had no value for the community. But this time CMC's participation will be more impressive and valuable. I hope this will be an annual practice, maintained by Binance and its partners to ensure that this market has a system to evaluate and honor those who have made great contributions to the entire industry.

For crypto projects, I will choose Arbitrum and UniSwap.
For crypto characters, I will choose CZ from Binance.

[KryptoBull]

In the past, there were also a few events honoring projects in the crypto market but they were not very famous, then they all fell into oblivion or had no value for the community. But this time CMC's participation will be more impressive and valuable. I hope this will be an annual practice, maintained by Binance and its partners to ensure that this market has a system to evaluate and honor those who have made great contributions to the entire industry.

For crypto projects, I will choose Arbitrum and UniSwap.
For crypto characters, I will choose CZ from Binance.

I think this event can be mentioned in many famous financial and technology newspapers, helping crypto to reach more investors. The projects that are nominated or won will have a greater advantage in attracting investment and continuing to develop. This award can be seen as a very effective channel to support projects in terms of promotion and marketing.

Coinmarketcap is currently owned by Binance, I believe Binance will do business properly and maintain this activity for many years to come. After all, it does not promise any rewards, it only needs to consult the opinion of the CMC user community.

P/s: CZ is my idol, too

[bitterguy28]

I'd like to hear your opinion about this event:

• Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?
• What impact do you think this event will have on the crypto market?
• Do you consider the award nominations when making investment decisions?

1. Not interested, such award/nomination usually is about which one is most popular.
2. Free promotion for nominates and it's winner. I also expect other website or community will try to create their own awards.
3. Yes, although it won't be main reason whether to invest on something and only if the awards actually have noticeable impact.

agreed, seems like a obvious promotions for those who have been close to CMC and to those  who are maybe doing or giving something to CMC.
actually in the past i constantly uses cmc but nowadays i migrated to many market price site.

For crypto projects, I will choose Arbitrum and UniSwap.
For crypto characters, I will choose CZ from Binance.

Arbitrum , I support this one .

also CZ? should be the winner about crypto character .

[robelneo]

For me, the CMC Crypto Awards mark a significant milestone in the evolution of the crypto space. By remaining and celebrating exceptional contributions, CoinMarketCap fosters a culture of appreciation and encourages continued innovation within the industry. I believe that the nominees on the list all deserve to be winners. I will follow this event and wait for the results on March 6.

I'd like to hear your opinion about this event:

• Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?
• What impact do you think this event will have on the crypto market?
• Do you consider the award nominations when making investment decisions?

If there's a body that can and should give this kind of award it should be Coinmarketcap, they know the market they have data to back up their choice and they have strict guidelines and parameters and I don't think they can be corrupted to give different awards in the industry.

I'm sure the majority of the community will respect the results although I'm not following any recommendations it's still worth looking at their picks.

[0t3p0t]

1. Are you interested in the CMC Crypto Awards 2024? Which nomination will you vote for?
2. What impact do you think this event will have on the crypto market?
3. Do you consider the award nominations when making investment decisions?

1. Recognition makes it having positivity between investors and the projects team and for me it gives some sort of a high moral for both.
2. As I said on my first answer it boosts high moral to both investors and the teams so meaning more and more investors will pour their money on those coins and tokens because that builds trust from the community.
3. For me yes, CMC just made it easy for us to identify these coins depending on their categories and performances by creating nominations that might also serves as important information source for newer crypto investors.

[MUGNIA]

It's really amazing, at this awards event, everyone has a favorite candidate in my opinion for each nomination, and I see that the nominations really follow the trend in 2024, even though there are a few old coins that are nominated,
For this nomination itself, I think it will have an impact on the coin that will win later, where winning could be a plus for the coin, (provided that if there are crypto user votes to choose the nomination)