As blockchain finds widespread applications across various industries, more and more people are getting interested in investing in blockchain projects. The recent ICO figures only give further evidence of this.
For anyone thinking on similar lines, understanding the technology is vital. You need to know the way it works and the scope for value appreciation associated with it. Those who are well-versed with the crypto markets know how volatile it is and how vulnerable cryptocurrency prices are to even rumors. So, before adding cryptos to your investment portfolio, consider looking at the broader market outlook first.
Blockchain Market Outlook
2018 will be the year when blockchain will continue to disrupt more industries, but the question of regulating the decentralised platform will stay in the foreground. In fact, we will see more ICO teams actually collaborating with governing bodies to develop strong legal frameworks to curb the aspects of black market transactions and enhance consumer safety.
Gartner predicts that the distributed technology’s business value will grow to $176 billion by 2025, and states that blockchain technology will see broader adoption, with features of improved scale, scope and complexities. Enterprise distributed ledger solutions will be built by major companies in healthcare, governance, supply-chain and even the online gaming industry.
Future Outlook for the Investment
While research data and market statistics look good on paper, not every ICO is successful in turning a real-world issue into a coin-based solution. Then there are projects that are created solely for the purpose of creating a coin. These don’t last.
When you are looking for an ICO project to invest in, look into the feasibility of the idea and how successful will it be in the long run. Is the problem or service suitable for blockchain and vice versa? Does it need a new cryptocurrency to work?
The ICO whitepaper should be your first step in this. Read it to understand whether they have detailed their entire business model, mentioning the role of each person involved in the project, along with the future roadmap.
If you take a look at the detailed whitepaper of Sgame Pro™, every member has been introduced in detail, along with links to their LinkedIn profiles. They have given clear explanation regarding how the platform will solve the most common problems being faced by participants in the mobile gaming industry at present, by using blockchain to establish ownership of digital gaming assets and negating the aspect of fiat currency purchases completely in the gaming ecosystem. They have provided a complete picture of the token economy and how they aim to get the token listed on exchanges in the future.
Community Management Skills
As an investor, join the ICO’s Slack or Telegram group and stay in touch with their communications. The ICO team has to be approachable and friendly. See if they are taking any note of community feedback and making changes according to that or not. If the community is not being transparent in its dealings, an investor should be wary. If they are being lethargic in dealing with early potential investors, there will be issues in future too, when many people get involved.
Evaluating any ICO is a difficult aspect. There is a term called DYOR in the crypto world that stands for “Do Your Own Research.” As an investor, look into your findings and trust your instincts first.
If you want to know more about SGame Pro, head to sgamepro.io and follow on Facebook, Twitter, Instagram and LinkedIn.