SmartBCH: Entry point matters

Knowing the entry point into a market should be one of the top things on the list of every investor or project team on SmartBCH right now. It’s one thing to have a plan, it’s another to execute it.

Using Tropical Finance as an example, they came into the fold when the Beachswap rug pull was still fresh on people's minds. The current situation they are in is caused by various factors, at the forefront is their "entry period". I’ve always been one of their greatest critics and when a recent issue involving one of their team happened, I was quick to say “I said it”. The way the case was handled impressed me and made me rethink my stance. Though I still have my reservation about the method with which their NFT sales were carried out without a proper minting, I must say the backlash they’ve been receiving from day one is due to their entry point. One can’t blame them for coming in at that time, since they are not active members of the community prior to that.

How could they have known that there was a recent rug pull that is putting everyone on their toe? How would they know there’s a little similarity in the design of their dex and the dex that pulled the rug a few days to their entry? How would they know the beach-related stuff triggers something in the mind of prospective investors?. However, they’ve stayed despite the not so warm welcome they received, weathered the storm and I think they deserve to be treated as one of us. After all, we look towards having more people from other chains migrate down to SmartBCH. Even though the love for in-house projects will still be there, we should be Open to receiving outsiders with good intentions. Perhaps the constant rug-pull by different tokens and NFTs made everyone doubtful and fearful.

Away from that, the purpose of mentioning Tropical finance was to state the importance of entry points in any project. It can have a long-lasting effect on the image of a project and it can also act as a major determinant of the success r failure of a project.

Currently, we have so many projects coming out, some NFTs are in the minting stage for days. These aren’t selling well not because they are bad JPEG or because they are unpromising projects, the reason for the slow sale or patronage is because the entry point right now isn’t favourable. The catalyst for this “not-so-good” condition is not far-fetched.

-The recent rug-pulls

-Verse token sales

The recent rug-pull

I’m a victim of several rug-pulls and after each, I’m always cautious and suspicious about almost every project. BCHTOWN NFT scam still hurts everyone, Cattos unfulfilled promises and the fear encountered when the pictures left (Jay of Oasis solved that already and we have at least our pictures back with the empathy promises made by the runaway dev), PIX NFT also pulled the rug this past week. All these are still free on everyone’s mind, hence the cautious approach to a new project.

The consequences of this is that people now trust only “in house” projects. They choose to invest in projects whose team is known by the community. Someone who has been around for long and is trusted. As a new project team looking to launch something new, this might not be the right time to. However, if you have all set, there’s a way you can do that( I will explain with time).

Verse token sales

Verse token/dex by bitcoin.com is no longer news to everyone. They have more audience/population than any  SmartBCH project. Their wings are so large that they have some Ethereum lovers under their wings since their wallet app is used for saving Bitcoincash, Bitcoin and Ethereum. Everyone sees this as a prospective project, that is surely destined for one thing-” Success. So many people are waiting for the sales on SmartBCH, therefore keeping their bags ready, neglecting the new projects coming out. Though I hate to break people’s heart-Verse sale on SmartBCH isn’t coming out anytime soon, and according to what I heard it was a private sale even on the Ethereum chain.

As a Dev what can you do?

Are you an existing project owner on SmartBCH or a new project owner? Are you planning to introduce something new to the community? Then I will advise you to up your marketing g game, also, spread your wing across different fields. Don’t just target the existing users on SmartBCH. We need more investors in this chain, bring in investors. Make use of Twitter and other top social media platforms to advertise your projects, don’t just rely on the existing users. Reach out to the whales you know, and state your business plan to them. If it requires meeting physically to enhance trust, do that. Only that way can you help yourself and also the community. Once people see a glimpse that your project will be a successful one, they will hop in their cash (Pun intended)

Create a project worthy of investing in

Amid this present “Harsh Entry gate” Some projects are still surfacing and are successful. How is this possible? They present something investors believe in, they provide. After the first world war, there was a shift of power from one country to another, this present situation presents all projects with equal opportunity to be the lead project. Having a stronghold in this market will have a positive impact when the market gets better.

Because there's a current fear of investing doesn't mean if you have a solid project you won't succeed. work on having a realistic use case, work on marketing and watch your project soar.

Disclaimer: No part of this article should be taken as an official statement by any team or individual. Everything written is my personal opinion. You have the right to disagree or agree. If any part goes against any group policy or contains things that you think are wrong, kindly let me know in the comment section.

Thanks for Reading! 🤗💚🤗