Question about new projects

[Saisher]

Why do almost 90% of the platforms introduced through this forum have to create their own coins and tokens immediately?
What I've learned about the founders of giant platforms like Paypal, Alibaba, Google, Twitter, Facebook, etc. is that they don't. They just make a platform that really hopes it will be used by people around the world without creating tokens to attract investors early in the journey (maybe they did but it was privately so that in the end we only heard the story). So that when their platform becomes a well-known brand, the money comes naturally through big investors, sponsors, and partners from other well-known figures/brands.

In addition (funnier), platforms with social and community bases that have no purpose or solution to the financial case must force themselves to stay in the mainstream by tokenizing their services which in the end the token creation itself becomes useless.

Why don't the current projects almost all follow in the footsteps of existing famous brands?

This is the structure of Cryptocurrency, the technology is very young and they want to build a project or platform in the Cryptocurrency that will serve the community, those websites that you mentioned have different structured you cannot compare this to projects that are on Cryptocurrency, they are set up long before the existence of Cryptocurrency.

[Coin_trader]

Why do almost 90% of the platforms introduced through this forum have to create their own coins and tokens immediately?
What I've learned about the founders of giant platforms like Paypal, Alibaba, Google, Twitter, Facebook, etc. is that they don't. They just make a platform that really hopes it will be used by people around the world without creating tokens to attract investors early in the journey (maybe they did but it was privately so that in the end we only heard the story). So that when their platform becomes a well-known brand, the money comes naturally through big investors, sponsors, and partners from other well-known figures/brands.

In addition (funnier), platforms with social and community bases that have no purpose or solution to the financial case must force themselves to stay in the mainstream by tokenizing their services which in the end the token creation itself becomes useless.

Why don't the current projects almost all follow in the footsteps of existing famous brands?

This is the structure of Cryptocurrency, the technology is very young and they want to build a project or platform in the Cryptocurrency that will serve the community, those websites that you mentioned have different structured you cannot compare this to projects that are on Cryptocurrency, they are set up long before the existence of Cryptocurrency.

Aside from the technology differences. The reason why most project introduced token on there initial phase was to gather funds give tokens in exchange for investors money. Company like alibaba, google and soon has VC that fund there company on early stage, those VC get shares when the company become established and list on stock market.

In cryptocurrency since we are on early stage. Crypto projects is forbidden to provide shares since they will to Security Token and it needs to become regulated, the problem was there is no firm regulation on Security token that’s most of the project are choosing Utility token just to continue and get fund without having any issue to SEC.

[rat03gopoh]

This cycle is always repeated with new projects, only a small number of projects actually do what their whitepaper says.

Nearly 90% of the project deviates from the content of WP in the end (based on my observations since 2018) and only serves to fill exchanges as one of the options of thousands of altcoins that are constantly increasing, but that doesn't frustrate people too much.

It seems that both sides (between founders and investors) have begun to eliminate the belief in long-term potential. The important thing is they managed to double the money briefly then goodbye and good luck to the next holder.

This is a crypto world, and tokens as the currency of their respective platforms therefore they are introducing it.

Do you think that in the future every crypto startup company will have its own currency?

Don't you see that Facebook is currently launching Libra (currently rebranded to DIEM) don't you think that FB is imitating social media platforms that already have their own token? lol

Yes, because Facebook is slowly becoming a business space and I think Facebook is doing the right thing. Instead of launching Libra, Zuckerberg first introduced and gave millions of users the opportunity to use new business features on Facebook such as the marketplace, monetization, and advertising until they really felt the benefits. When people depend on Facebook for their business, imagine if Facebook only enforces Libra.

[Cengghengmania21]

yes. If we look at social media platforms such as Facebook, Twitter and others, it does not really have verry good concept. however this platform has a purpose and is very easy to use. maybe this is one of the success factors of this platform, which automatically provides income for the platform owners because there are lots of advertisements in it

[skarais]

Money is the main reason. Unlike social media platforms like Facebook, Twitter because from the start their main goal was just to get more users on their platform which would have an impact on revenue. But what is different is that we can see that crypto project developers are those who hope to get a lot of support from investors in the form of money which will later be used to develop projects for the better and the token sold have the right function.

But did you forget that the world of crypto is a world where scammers earn enough money only with the lure of a better future. Investors became bankrupt and lost a lot of money because their investment failed. Most of the developers run away and a lot of user money and pretty much the token become useless.

[abel1337]

because it won't be easy. if there is already a well-known project for example why people should buy a new project.
whereas they can buy projects that are already well-known and of course in demand.
that is the way a new project is about to be released, they have to think of a different way or have a different innovation to make the project desirable, and the results are only a small part of which will survive.

Investors are putting money on a project that they know has the potential to grow and make their investment-worthy in the long run, Projects releasing their token is something that the investors have something to hold on to when their project is running. Small projects who survive are the one that is doing their plan consistently. Crowdsale is important to those small projects for them to be able to support the financial needs. Projects also use their coin for their promotion at the early stage of the project development.

[Shallow]

The reason many projects creates their tokens immediately is because of the money, however where a lot of projects creates their tokens just to make themselves rich, only few projects creates their tokens in order to access funds which will help them continue developing their platform. If we should go back to Bitcoin, we can see that, first an idea was created which was backed up with a coin, and because that idea is a revolutionary idea, the coin grew in value till this day, but this case about Bitcoin can't be said of many projects today. I can't even remember the last time I came across a project whose team have already started building their platform with their funds to a certain level before seeking for more funding through listing on exchanges or having a Pre-sale, nowadays many just write a whitepaper, create their tokens and start asking for funds.
Lastly, creating a token immediately isn't actually the problem, the problem is the intention of the team because even if they create it later, a team with a bad intention will still carry out their acts while a team with a good intention will try their best to make everything work.

[gwdf1]

How much money is needed for a newly created project to actively develop and attract the attention of investors? All the main directions were assigned by teams with experience, and they attract investment. People are afraid to trust projects because of their uselessness and fraud. It takes a lot of effort to prove to people their honesty and the need for crypto projects.  

[AmoreJaz]

Money is the main reason. Unlike social media platforms like Facebook, Twitter because from the start their main goal was just to get more users on their platform which would have an impact on revenue. But what is different is that we can see that crypto project developers are those who hope to get a lot of support from investors in the form of money which will later be used to develop projects for the better and the token sold have the right function.

But did you forget that the world of crypto is a world where scammers earn enough money only with the lure of a better future. Investors became bankrupt and lost a lot of money because their investment failed. Most of the developers run away and a lot of user money and pretty much the token become useless.

tbh, most projects are created for the sole purpose of screwing naive investors. how many projects turned out to be scam and ended up with despair buyers? also, if you look at the scam accusations board in this forum alone, you will see tons of it, employing fake team members, ponzi scheme, plagiarism issues and so on and so forth.
scammers make this crypto space as their breeding ground as they can launch their projects anonymously and there will be gullible buyers thinking that they will get rich as well.
only few projects stand out with their real use case in the market. and you will see them in the top defi market or top alts.

[fullhdpixel]

This Question is a bit funny because this giant platform you mentioned above didn't start out as a crypto backed platform and even aside that maybe they have no intention to tokenize their business, during the early days of PayPal, Alibaba, Google and the likes i don't think there was anything like blockchain so the platform was created to provide service to those who are interested which totally different now that blockchain is available and upcoming project will rather use it since it provide better service and accuracy in getting the job done, if blockchain was available then who knows maybe one among them would have opted for it.

It is obvious that they did IPO, sold a lot of their own shares and they made a huge return from it but also they have increased the amount of money company has as well. People think that if there is 100 shares of a company, and all 100 is owned by the owner, and there is IPO that 80% will be sold, you buy 80 shares of that company making people the new owners with 80%, and that money goes into the company to make it bigger? Most of the time it goes to the owner who sold his shares and now filthy rich.

Of course there are chances that people could give that money to the company so that his 20% with new billions would worth more than his old 100 that worth millions but that is optional and not forced. In tokenized world we are at least seeing what people do with their money and we know if it will go higher or lower in the sense that we know where our money goes instead of hoping about it.

[rat03gopoh]

That is what I mean because if they imitate the concept of an existing project, investors do not have to bother putting their money into new projects that are not yet clear and are not sure that they will survive even though they have the same concept.So choosing a project that has different developments and has potential is tough work.

New companies still have a chance to compete with big companies, right? If the public has already benefited from a new platform, why not plan to invest when the token sale is about to take place? Wouldn't that be less risky considering the progress of the ongoing project? Of course, prospects are easier to analyze.

Conversely, when investing in a new company that hasn't yet been launched, it is like venturing your luck with empty possibilities. Let alone looking at future prospects, we don't even know whether the platform is welcomed by the public or not.

[Balladtony77]

It's easier to create tokens but those famous companies just don't see any reason to create one, paypal implement crypto instead of creating it's own token, they must have think very well about the whole thing, implementing is better than having their own tokens, it's same to other payment gateway like alipay and others

[disconnectme]

Token is a norm in Crypto space for now because the market demands it, you offer people what they want, just look at Uniswap and Sushi, I don't think if Uniswap had not issue their tokens that they would remain number 1 DEX exchange till now. For all these big companies, they also offer their own shares and some people equate this shares to tokens. The most important thing is if people like your platform and using it.

[nicecrypto]

All the companies you made mention are powerful organizations that don't see any needs in creating their own tokens or coins, for what purpose? It's why we need to be careful with new projects, it's because money is in crypto that's why we keep seeing new projects, almost all new projects are here to take advantage of investors

I agree with you and I mentioned something like this in a different thread earlier about the major interest of all crypto developers is Money or as in my Phrase then "Money Grabbing" whether they have any true intention to see that project through or not and I believe this Big organizations or company will not do that for the sole aim of making money but as an added service which sure can add to their financial portfolio.

[shoreno]

most of the famous brands that you mentioned dont need to create a coin because they arent currency based but except maybe to paypal but paypal acts as a wallet and payment solution and dont also need to create its own coin and sell it .

while the crypto world is different ,  they are currency based and creating and selling a coin is thier main prospects and second would be their secondary purpose of their coins  . they can also do a private sale but they can do a public sale as well

[valek.bruno]

Because the basis of the cryptocurrency industry today is the use of blockchain, and besides in the creation of financial instruments, I do not see any other application, but it is also necessary to arouse greed in people to warm it up, it is she who develops this market today.

[TheUltraElite]

But having their own tokens is also better, for example like Trustwallet and Binance, because no one says that both are bad, even very much is interested in them, meaning that implementation will feel very complete if a system also has the same thing in crypto.

There have been projects related to crypto but not using an altcoin. They may provide a service like a wallet or an exchange but no token as of now. These projects are less popular than the ones that have actually raised through an ICO/Token sale.

Point is that hype is what runs this market. You cannot attempt to make a name for your project unless you are launching your own token. Everyone wants to invest in tokens but few actually look at the legitimacy.

We can have an exchange or a project in general that raises capital by equity listed on a stock exchange and dealing with giving services about crypto. But will these be popularly known to the crypto public? I doubt that but I am also hopeful about the same.

[Jackl87]

I also think that a lot of newly introduced crypto projects would have a much faster and wider adaption if they wouldn't create a own token that users of their platform need to buy first and would instead use BTC or even FIAT as payments.
Projects choose to create their own token because so they can freely decide about the distribution of those tokens and if your project is successful and you as the team own 20% of the tokens you made it.

[RussianEnglishTranslation]

Why do almost 90% of the platforms introduced through this forum have to create their own coins and tokens immediately?
What I've learned about the founders of giant platforms like Paypal, Alibaba, Google, Twitter, Facebook, etc. is that they don't. They just make a platform that really hopes it will be used by people around the world without creating tokens to attract investors early in the journey (maybe they did but it was privately so that in the end we only heard the story). So that when their platform becomes a well-known brand, the money comes naturally through big investors, sponsors, and partners from other well-known figures/brands.

In addition (funnier), platforms with social and community bases that have no purpose or solution to the financial case must force themselves to stay in the mainstream by tokenizing their services which in the end the token creation itself becomes useless.

Why don't the current projects almost all follow in the footsteps of existing famous brands?

When you're talking about tokens, businesses can tokenize their stocks, marketing materials, reward points, governance, and use tokens as their own currency to retain customers. There are so many benefits that the question should be why aren't all companies creating their own tokens yet?

[jessyj48]

You just have to apply your own knowledge to get the real answer why a project exists, there are many use cases in crypto space that people don't even need but if developers don't give a try in the first place how will they know? Use cases like A.I always fail in crypto space for unknown reasons, it's even hard to see a real payment solution crypto project today, all those that claimed to be a payment solution end up dead or abandoned