Launch Pads
I’ve been looking more closely at some of the project launch platforms out there with a view to adding one or two to my watch list for potential investments. The first thing to note is just how many of these platforms there are! They seem to be everywhere, which in itself raises an important question, namely how reliable are the platforms themselves? To be fair, they don’t all take the same approach, with some simply acting as little more than listing pages, while others carry out some pretty meaningful due diligence to help ensure they only list quality projects. Nonetheless, you clearly need to take a long, hard look at the platforms themselves.
In truth, I’ve only looked at a few of these platforms so far but a few issues have quickly come to light that are likely to limit my use of them, much to my frustration. Firstly, an overwhelming majority of the projects listed are on Ethereum, this mainly being down to the fact that this has by far the biggest pool of skilled and experienced developers for projects to draw on. Inevitably, this means you are looking at some pretty hefty gas fees both when coughing up your purchase money and, later, when selling out for a hoped-for profit.
I’ve also noticed that some of the platforms require you to buy and hold their own tokens in order to gain access to the launches. I don’t suppose this is necessarily any biggie, except where the amount of money involved becomes significant. With Polkastarter, for example, you are looking at something of the order of $1,500, which is a pretty hefty part of my total available funds.
Finally, the number of hurdles you need to clear to get on board some of the launches is pretty significant. You can be expected to do any combination of the following (and I doubt I’ve listed everything here): join a mailing list; follow on Twitter; Tweet and tag your mates; follow on Medium and Telegram; follow on Facebook; sign up to a white list; paint your fingernails black (OK, I made that one up). Even then, once you’ve got as far as the white list, you are likely to find yourself being asked to complete KYC before, at long last, you’re almost there, only to find a lottery system is used to decide who gets the chance to purchase tokens. Phew!
So, it’s clearly not a simple matter to take part in these launches, but, that said, I’m not going to let this put me off and will persist with my investigations until I’ve found one or two platforms that I’m happy to work with. Are there ones you would recommend? If so, it would be great to hear in the comments section.
Music to Cry to
I have been distracted for some of the time while writing this post by the TV show my wife has been watching in the other room. It’s a run-through of some of the top-performing pop acts of the early 1970s and has included such delightful gems as Jimmy Osmond singing Long Haired Lover From Liverpool and the whole Osmond troupe belting out Crazy Horses. If you’re not familiar with these two songs then don’t blame me if you go looking for the first one on YouTube.
Until tomorrow…
Renaissance Man
Why this Diary?
I thought it might be an interesting exercise, as much for myself as anyone else, to keep a diary of my interests and activities in the land of the blockchain and all things crypto, so I’m going to give it a go at writing a short diary entry each day for the current month, November 2021. It will give me something to look back on and assess and it might offer up some entertainment and topics of interest to anyone who happens to read it.
The Usual Disclaimer
Please don’t take any of the above as financial or investment advice. It is intended to be nothing other than a little entertainment and information sharing. Always, but always, do your own research before committing your money to anything.
