The Anatomy of a Successful Crypto Project
As we head into the next Bitcoin halving cycle, many people are optimistic about a new crypto bull run. The previous bull market has generated thousands of new crypto millionaires, businesses, and jobs.
While it’s hard to think people invested $200 in a token like Shiba Inu and ended up a millionaire, the fact is that this has become a reality for many people. It will be important to analyze what goes into a successful crypto project and how that relates to Solarys.
Case Study: Polygon
Polygon was developed by Polygon Labs which is the company behind the development of the Polygon network. The MATIC network was launched in 2017 by 4 software engineers based out of Mumbai.
In 2019, Matic was rebranded to Polygon and they conducted a seed round for $165,000 with an average price of $0.00079. Polygon would go on to raise about $5.5 million in 2019 but it wouldn’t be until November – December 2021 that it would reach an all-time high of about $20 billion market cap.
Polygon has gone on to raise over $450 million, expanded its partnerships, and has been featured as part of the Disney Accelerator program with the support of the top VC’s in the industry. Despite the overall downturn in the market, it still remains a top 20 cryptocurrency according to Coinmarketcap, and is still up 25,000% from its all-time low.
Case Study: Solana
Solana was launched by Solana Labs in 2020, but began its fundraising rounds in March 2018.
Solana raised $3.17 million in their seed round, and $15 million in the year 2018. There have been multiple funding rounds in which they raised a total of $25 million from 2018 to 2020 which lead to the launch of the Solana token which had an all-time high of $74 billion market cap in November 2021.
Keys to Success
Execution
The starting point for any successful project is execution. This all starts with having a strong plan, making smart decisions, and having structure. There is a saying, the next 10,000X is built in bear markets. Having a solid team, community, and structure will ensure a competitive advantage over ill-prepared projects.
Crypto projects often lose momentum because they either run out of cash for marketing, or they try to speed up the development process too much. This is why the funding stage is so critically important. The top-performing projects from the previous bull run were adequately funded that did not have to sell their own tokens for resources.
It is critical to anticipate the needs of the crypto project 6-12 months out from launch and maintain flexibility for additional expansion.
Utility
The second key to success is utility. There has been an ongoing debate on meme coins versus utility projects. But when you look at the top 100 projects on Coinmarketcap, over 99% offer a specific use case or product.
Even cryptocurrencies that started off as memes like Dogecoin and Shiba Inu token have maintained relevance by adding utility. To succeed in the long run, we’ve found that a project needs to keep adding value to its ecosystem.
A strong utility helps drive demand and can be reinvested into its ecosystem. It will also make it possible for the project to develop stronger partnerships and key in determining which ventures will participate. This is what allows projects to remain relevant 2-3 years after launch.
Community
The next key we’ll discuss is community. Without a strong community, the project dies. This is ultimately the hardest and most difficult component because it requires getting many people to trust the project’s long-term vision.
Many projects will try to find shortcuts through “hype” marketing, but the reality is that it is best to have a community of like-minded people that align with the vision of the project. There are different stages to “hype” but the foundation is organic marketing and community building.
Even if there is great communication, marketing, and utility, a negative community will derail even the largest cryptocurrency projects. This is why FUD, or “Fear Uncertainty Doubt”, is such a powerful weapon. If there is misinformation, doubts, or mistrust, a cryptocurrency project will fail to meet its goals.
This is why it’s important to have strong communication channels and an expert team to control the flow of information.
Exchanges
Finally, The last key to success that we’ll touch upon is cryptocurrency exchange listings. What we’ve found is that the most successful crypto projects are able to obtain Tier 1 listings. This includes exchanges such as Binance, Coinbase, or OKEX. When a cryptocurrency gets listed on a cryptocurrency exchange, or CEX, and is available for sale, that is known as an IEO, or Initial Exchange Offering. An example would be a token getting listed on Coinbase or Binance. It is important when designing the tokenomics to take into account the multiple exchanges that may come in the future.
The main benefit of central exchange listings is that it gives the token access to more users and trading volume, which can help with demand, which then leads to higher marketcap potential. Not every project that launches gets listed to a Tier 1 exchange which is why it is critical to position the project for success prior to launch.
What’s Next for Solarys
Solarys has a goal to truly make a difference in the crypto market. Our vision is to bring a new user experience through mixed reality that combines digital and physical community and brand experiences together. We are looking to become a project that shines for many years to come. However, it all starts at the beginning.
Roadmap
Stage 0: Foundation
In this stage, our priority is developing the concept, team expansion, and creating the strategy that will differentiate us from others.
Stage 1: Fundraising
We’ll be going through several rounds of funding to prepare for the launch.
- Private Round: This will be the initial pre-seed round used to kickstart the vision. The majority of funds will be allocated to marketing, legal, and initial development.
- Public Presale: We’ll be talking to different launchpads to raise liquidity for the token. At this stage we’ll be ramping up marketing, revamping the website, and focusing on platform development.
- Venture Rounds: After establishing a strong community and proof that there is “investable interest”, larger investors will be keen to join in. Venture firms, private equity, and angel investors make it possible for a project to raise $30- $100 million which is primarily used to scale the project into a top brand.
Stage 2: Launch
After setting up the foundation and having the funds to push the project properly, it’s time to launch the cryptocurrency. Prior to launch, we’ll be working to ensure that the smart contract is rigorously tested and audited, we have exchanges available, and we prepare our community for the transition to the live token. We will work to set up various activities as we get everyone ready for our utility.
Stage 3: Utility
We will focus this stage on onboarding users to our platform. The beta stage will be focused on feedback and debugging. Once that is complete, we will proceed with our go-to-market plan. We will be looking to release several NFT collections which are planned to have utility within our platform.
Getting Started
We are currently at the beginning of stage 1 at the private presale stage. The Private Presale IS LIVE.
We invite you to take part in the AR NFT revolution as we look to build the foundations for the future. Be sure to follow us for official news and announcements
