Electroneum’s ICO (initial coin offering) took place in September last year. In those 14 months, the token has reached a price of $0.0079 which has created a lot of skepticism about the project. But the price shouldn’t matter all that much as long as the project still offers scalability. While it started as a Monero (XMR) fork, Electroneum has chosen a completely different path.
This UK-based digital asset has pros and cons of its own, in a moment in which the whole cryptosphere is losing value all the time. As with any other blockchain project, supporters like the good news, and skeptics question everything (sometimes even attack it), and they feel that the low price (or a drop) proves them right. But Electroneum could be attractive to investors and enthusiasts however low the price currently is –or because of it.
Electroneum is not going anywhere. It will stay around for long even if the market has failed so far to understand its value. And that is why it’s underpriced.
The project’s emphasis is clearly on micropayments and mobility as it’s shown by the platforms, apps, and tokens it offers. It aims to provide financial services to everybody in the world who owns a smartphone.
Services for the bankless
Electroneum’s strategy is predicated on the fact that lots of people all around the planet own a cell phone but do not have the resources, or the option, to have a bank account. That leaves them out of the global financial system, and they can’t get even the most basic financial services. The project is focusing on these people, which is a big fraction of the world’s population. Additionally, the project’s token (ETN) could be a safe haven against an upcoming financial crisis, just as any digital asset can be.
Among the project’s features is a very innovative payment system created by the ETN team from scratch. It’s an important development and, it’s been tested successfully already. More than a thousand vendors are invited to adopt the API Instant Pay BETA.
It’s quick, it’s safe, it’s free to use. For those who need to use MoneyGram or Western Union to send money overseas, or even worse, bank wires, Electoneum’s platform could be a great alternative. This gives the payment app alone the great potential for mass adoption, starting in the UK, but spreading the world over. Moreover, it would give the token real-world usefulness so its market would be driven by real economic forces instead of pure speculation, as it’s currently the case with most cryptocurrencies.
It has an Anthem!
It was created by Nave Savage, an ETN community member. You think this is irrelevant? Think twice. This is the kind of thing that brings cohesion into a community of users, it helps to create identity and solidarity. So while an anthem is not going to increase the coin’s price, it speaks volumes about the kind of commitment you can find in this project.
Some final words
Electroneum is not in the spotlight in the way that Bitcoin, XRP, Litecoin or many other cryptocurrencies usually are. But don’t be deceived. It has value and it’s going to take off sooner or later.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…