Read full story: medium.com/verasity On the 4th of February, we hosted an AMA with Verasity Founder R J Mark. Thank you to everyone who joined, we answered a lot of community questions in depth (39 in total!). If you missed it, below is the complete transcript. Exciting information in this, make sure to read it all. 👀
Hello Verasians. I am Bhav, the marketing manager at Verasity and I’m joined by R J Mark, the founder of Verasity. Thank you for joining us for this AMA! :smile:
Mark: Hello everyone. We will be answering all of the pertinent questions that the community have sent in throughout the week. Once these questions have been answered, I will open up the chat so you can ask further (non-repetitive please) questions, the chat will then close once more for Mark to answer. The transcript of this AMA will then be posted on our Medium.
Let’s get straight into it!
Q1) There will be no deadline on the swap so there is no rush and no fear of losing your tokens. They can be swapped at any time. Is that right? Absolutely right. There is no deadline on the swap For more details read:
VRA Token & PoV update Q2) Regarding the ERC777 Token Swap, you don’t need to withdraw to VeraWallet on the day of swap? Can I do it later? Correct, take your time, there is no rush. You can do it at any time. There is no deadline or end date for the swap. We are making this as seamless and easy as possible for everyone.
Seamless and easy. That’s the way forward ✅Q3) Will we see more movements from the Foundation wallet. What is this about? The Swap? That is correct. In anticipation of the swap company wallets’ tokens are being swapped via VeraWallet. See the article about this:
VRA Token & PoV update New Foundation wallets will be created to replace the old ones.
Q4) Any plans to keep staking beyond the 31/12/2021 deadline? We have not made a decision yet but liquidity mining is very much in play and could replace staking after Dec 2021. We will announce mid-year.
Q5) All the tournaments are free to join. How does that help the company to generate revenue? Is there a place or example where users/players are actually using the VRA token to get a product/service? _Great question!_The tournaments are free to join since we are focusing on adoption and scaling the number of users we have globally. Bringing as many people to the platform is our priority right now. As we expand and offer user-generated prize pools we will take a commission on the total jackpots as a revenue stream. In addition, other revenue flows will become available to us as we build our user base and launch our video player this Q1.
We will monetize our esports content through our video player within Esports Fight Club by serving ads from our ad partners:
Advertiser Partnership Update Esports Fight Club will require players to use VRA to purchase subscriptions via several payment systems: VeraWallet, PayPal and Credit Cards (although some tournaments are free for promotional purposes). Winners receive VRA for winning tournaments. Soon players will also be rewarded VRA for watching ads. Verasity profits from the purchase of game credits, subscriptions, tournament prize pools and ads. This is an entire ecosystem all within Verasity.
See our revenue forecast here:
Tokenomics , Forecast, News Update Adoption and scale are key to the success of Esports Fight Club. We’ve made a lot of progress on the platform and are confident we will continue to see further growth in terms of users and a ton more exposure to the platform, and our token $VRA.Talking about adoption and scale… the next question will answer that!~Q6) What is the current Marketing Strategy? How do we differ from other tournament websites? After creating mass-scale events around the world, we are focusing on adoption and community this year. Spending $10,000 on a big one-time prize pool to attract 1000 teams sounds good in theory. But, after careful planning, forecasting and testing, the results show that the best way is to spread the tournaments out so we reach a larger number of audiences. This consistency and large reach will attract much more than just 1000 teams over a period of time. The best place to do this is by sponsoring streamers and influencers, who each have thousands or even hundreds of thousands of fans.
For the past week, for example, we’ve been running a Valorant Community Tournament with Esports Fight Club’s first partnered streamer,
Mika Daime. The turnout has been massive! Qualifier 1 was filled up with the max slots so quickly, that we had to create a Qualifier 2 just to fit all the teams in.
- Most streamers we aim to partner with can easily bring in 64 or 256 teams to a community tournament hosted by Esports Fight Club, for a fraction of the price
- With the same budget as a big tournament, of the $10,000 we would have spent on a single tournament, we can obtain approximately 540% more users by repurposing that budget for the influencer and streamer tournaments.
For a full list of upcoming features such as the Marketplace and VoD section read our full Marketing and Adoption post:
Marketing, Adoption, Tournaments 2021 (Updated) It’s key for people to understand what we aim to do with the tournaments in terms of marketing. We read a lot of comments about the “low prize pool” when we announced the Mika Daime tournament, hopefully the answer Mark provided sheds light on that!Everything we do at Verasity is calculated. 😊Do check this out if you wanted a full read on our Marketing and Adoption post for 2021. 👍🏼If you think you’re good at some of the games we have available on Esports Fight Club, join in! The partnered streamers we have will be hosting a lot of community tournaments, such as Mika Daime!Q7) How often shall the revenue estimates (status update) be updated and is there any new estimation? We will update the community every six months on revenue forecasts. There are no updates from our last announcement which can be found here
Tokenomics , Forecast, News Update Don’t forget to follow us on Twitter with notifications turned on, so you can get all the updates as they come through!https://twitter.com/verasitytech Q8) Have you changed your business model? Because at the beginning it was mainly about publishers. Our fundamental model has not changed: Video publishers attract audiences to watch video content and ads. Users are rewarded for it, thereby increasing engagement and monetization.
This model has not changed. What has changed is the type of video publisher we are pursuing. Prior to COVID-19, we pursued traditional publishers. With COVID-19, we saw the opportunity to pursue gaming publishers and more specifically esports publishers. More importantly, we created our own tournament platform:
esportsfightclub.com. This allows us to control our own environment, launch our own proprietary video player, own our video content, run ads on our player, and charge subscription fees as well as take tournament fees.
But actually publishers and content are publishers and content whether it’s gaming or news.
It’s great to see how Esports Fight Club will have it’s own video content up on the website so that users will be able to watch the content to earn $VRA by using our own video technology, then use the $VRA to join tournaments, or buy hardware from trusted partners 👀Exciting stuff!Q9) Where can I find info about the Founders token unlock schedule? Tokenomics and Founders token unlock schedule can be found here:
Tokenomics , Forecast, News Update Q10) Does VeraWallet speed handling withdraws scale up painlessly when user amounts boom? And shall there be enhancements to user experience if we for example have tens or hundreds of small reward withdraws daily? We are adding automated withdrawals for small amounts to the roadmap but first have to complete the swap and add the security protocols. We won’t risk our users’ investments.
We simply don't want to risk our secure environment.
Q11) Are there any plans for compounding rewards for the VeraWallet staking? No, absolutely not. The simple interest we are paying now is already high.
Q12) Bit confused about the VeraWallet staking rate after March. Can you clarify? The staking reward rate is 0.1% per day (36.5% per annum) until 31 March 2021 when it becomes 0.07% daily (25.55% pa) until 31 December 2021.
Q13) When can I instant stake with BTC? Good news, BTC is already available in VeraWallet for Instant Stake together with ETH, BNB and USDT.
Try Instant Buy and Stake out for yourself here:
VeraWallet - Official VRA Wallet Instant Buy and Stake has been a really popular update to VeraWallet. Great to see the community loving it. 👍🏼Q14) With the recent developments on Cardano, and the ease in which ERC-20 tokens can migrate to this superior to Ehereum platform, are you considering following suit of great projects like Celsius to move VRA over to Cardano? I know we are still a bit hurt with Binance VRAB. I understand it is not an easy decision. Just interested in what you think about the future on Ethereum. We gave this a lot of thought and investigation and as the community knows we have experience with token migrations :)
Please see our latest update on the VRA token swap to ERC777 and Proof of View:
VRA Token & PoV update As to Cardano — the liquidity is really small compared to ETH alts. For example on Kucoin it’s volume is less than $2m per day. Even on OKEX it’s only $3m. 50% of Celsius’ volume is on Uniswap which is the majority of the liquidity and is not on any Tier 1 exchanges. Aside from the lack of features that we need for PoV, after our last experience, we are very reluctant to join with mainnets that are generally illiquid. Celsius’s solution is to provide the liquidity themselves through Uniswap which is limiting in our view. We believe sticking with Ethereum is the right way to go and the market seems to agree with this as well.
Q15) The new VOD platform, when is it going to be finished and in use? We are working on it now and expect it to meet the roadmap target of Q1: see verasity.io for the roadmap.
Can’t wait for it to be released! 🚀> Yes, this is a huge milestone for us and opens us up to so many possibilities.Q16) Is liquidity mining still in play? Will this replace the staking rewards after December 2021? Good question. Yes, liquidity mining is very much in play and could replace staking after Dec 2021. We have not made that decision yet but will announce as soon as we do.
Q17) Are there new partners/publishers in the trend of gaming for the ad stack? Yes, FB, Google and others. Please see:
Advertiser Partnership Update In total 17, many specializing in gaming.
I don’t think today there are many ad networks that are not into gaming. It's such a huge audience sitting at home during Covid.
Q18) Micro tournaments: could you arrange tournaments yourself, like a national tournament for example? The Esports Fight Club platform is fully self-managed, so yes, you could set up large tournaments and be the admin and sponsor. We would definitely like to see this happen by our community members. This quarter, our admins and developers are focused on A/B testing different tournaments with multiple communities to see if we are missing any critical features demanded by gamers. An article will be coming next week about micro and partnered tournaments. We will explain how these increase platform adoption which benefits both influencers and Esports Fight Club.
If anyone does host some tournaments, message me! I’d be happy to join a few… dust off my skills. I heard Rob (Our Finance Director) was a bit of Counterstrike wizard in his day… 😂Q19) Why are the tokens bought via the instant buy taken from a pool which dilutes the total supply? This is like raising new capital for $VRA at every buy instead of us token holders getting a price increase. These are not purchased from a pool. If you mean that Foundation tokens have been transferred to VeraWallet, see the article:
Tokenomics , Forecast, News Update In the Total VRA Supply, line 9, this VRA is already taken into account as part of both total supply and circulating supply. It does not increase either. I think this is really clear.
Q20) Asking about the “Instant buy and stake feature”. If someone buys $VRA using this system, there is no transaction on the blockchain. You say you buy directly on exchanges but no proof. Buy backs of VRA do not happen instantly and we don’t announce buy backs in advance to avoid speculation. We don’t share our VeraWallet addresses as we have stated before. We are not going to provide speculators with tools to make a margin on each purchase.
Q21) Do we stay on the Ethereum network? Yes, see the article:
VRA Token & PoV update We are swapping our current ERC20 tokens to ERC777 which is essentially an upgrade to a more modern and fuller feature set Ethereum token.
For anyone just joining the chat, make sure you read the article above! Tons of important and exciting information.Q22) From the Foundation wallet tokens have been unlocked in the last 50 days and added to the circulating supply. How is our token deflationary? If you mean that Foundation tokens have been transferred to VeraWallet, see the article:
Tokenomics , Forecast, News Update Foundation tokens are not locked and the article clearly states they are unlocked. In the Total VRA Supply, line 9, this VRA is already taken into account as part of both total supply and circulating supply. It does not increase either. We specifically provide for ALL Foundation tokens, allocated and unallocated, as part of the current circulating supply so this is NOT adding to the circulating supply.
Q23) Asking about adoption figures. You claim to have had 8M people looking at your gaming videos (mostly fakes views as the counter earned millions in hours). The adoption figures were not fake or exaggerated, it is important to understand that this number is a combination of different metrics, all of which ensure one thing: People viewed our live tournament page. This number includes:
- Unique gaming viewers landing on our page to be able to find the stream in their native language (English, Korean, Hindi, Mandarin and Nepali)
- Social media followers and curious gamers who landed on our page after subscribing to our contests, looking for airdrops or just by following our different marketing campaigns. These account for the steady and regular growth of our landing page as we ran these campaigns all-around the globe and 24/7 at the end of the tournament. The livestream was embedded onto the homepage of the website, so everyone who visited our website was also able to watch the tournament
- Lastly, the contestants, productions and influencer’s traffic from sharing our streams was what mostly caused big traffic, especially during the play-off and later stages of the tournament.
Although it was difficult to collate all the viewer statistics we believe them to be accurate and fair.
To see the full statistics of Ultimate Warrior Showdown 1, read here:
Ultimate Warrior Showdown Tournament Round-Up and Adoption Hope that clears up some FUD! 👍🏼Q24) Asking about partnerships. You say you have partnerships with Stripe, Tencent Games, PayPal. The truth is any website can integrate these payment/connexion modules without partnership. You just need to read their website and implement it on your website. Of course, you can add Stripe and PayPal to any website, but try adding them to a crypto-based website and see how far you get. There are no crypto products websites or related services (other than specific financial services) that are supported by Stripe and PayPal because they are not allowed. To obtain these payment services, you need to have special permission and follow a rigid protocol. And Stripe expressed interest in working with Esports Fight Club to reach out to video publishers with EFC to give us access to video publishers worldwide.
As to TencentGames, you need to get their specific permission for certain tournament events and follow their rules. We would be unable to use their logo and name in our marketing material without this. It’s not simply signing up for them. So yes we consider this a partnership because they plan on additional events with us which they now support.
Working with major brands including PUBGM, Tencent, Athena Gaming and Warmania gave us the clout to include major esport teams in our tournaments who will participate in future tournaments as well: FaZe Clan, Orange, T1, Elementrix, Nova, Onic and others. And now because of the history, Blizzard is prepared to provide licenses for all their major games.
We are also in discussion with peripheral manufacturers to support our marketplace launch later this year. As soon as agreements are reached, we will jointly announce sponsored product peripherals that will be rewarded in our tournaments.
Q25) Some things on your roadmap get pushed forward. Why did do you do this? Our development team has been together doing projects for over ten years. This is normal in large scale development projects. For example, we decided after the large Esports Fight Club tournaments we put on that we needed to finalize and launch the Video sharing platform prior to some other features on the roadmap because without it we would not be able to take advantage of many opportunities including monetization opportunities of the exclusive VOD content that only we could re-publish and add ads to. This pushed certain product features into Q2. Another example is PoV. Initially we thought we would go with proprietary blockchain because there was no other solution that would allow us to support PoV. That changed with the release by Ethereum of ERC777. As a result PoV timeline targets changed so that it corresponds to the release of ERC777 as well as the ability to use it for the Video sharing platform. So in effect, the video-sharing platform came in _much earlier than expected_which pushed out other features/products to accommodate this change. Business decisions and external events impact on the roadmap and it would do Verasity and the community an injustice if we just blindly followed a roadmap that becomes slightly outdated every quarter and greatly outdated every year. It is this flexibility that allows Verasity to take advantage of new information and technologies in real-time. And to push out new products earlier in the roadmap such as the video-sharing platform.
Q26) Proof-of-View™️ so nice! When will it be a Patented POV? The average time for a patent to be granted is 3 years. We’ve just started our third year as a pending application so we hope it will be in 2021, however our patent lawyers have told us to expect further delays due to covid. Fortunately this won’t stop the release of Proof of View which can go ahead with ‘patent pending’ protection.
Update: The patent was granted a few minutes after the AMA ended! —
@verasitytech Q27) Will there be an app for download on your phone soon? For Staking. Feeling a little insecure have it online on your website Actually, our mweb and web applications are much more secure than a mobile app. Mobile apps are much easier to hack. Although we have not been hacked, some users have been hacked via their mobile phones but because we have a manual delay, we were able to stop the loss of tokens. The good news is that now with the swap to ERC777 we can disable any wallets that have stolen VRA and return the VRA to the original user. We do have mobile apps on the roadmap but won’t likely support staking because of the security issue and it is not a priority for us.
Q28) Not try to fud here, but would like to get an answer in AMA to suppress all fud in the future 😁 Financial status company. There have been coins sold for listing on an exchange (still to come?). Was this something that was not planned (like extra opportunity to get listed) or are funds becoming empty? Current resources held by Verasity fund the project roadmap for the next 12 months. We forecast reaching profitability in 2021 which will finance the continuing runway thereafter. As you point out not all listing opportunities were included in the forecast and we stated that: “In the future, additional listings and expenses may require sales of VRA from the Foundation Reserve”. See the funding update here:
Tokenomics , Forecast, News Update Q29) The VoD update is a little bit unclear for me. Maybe you can tell some more about it. To the looks of it, it is a mix between YouTube and twitch but with PoV to earn $VRA. PoV on VODs is a key feature for us and for our large ad-stack network. While we are growing our partnerships with community tournaments and adding more games and influencers on EsportsFightClub: we want our reruns to be monetized, available at all times on our proprietary platform and browsing page. Think of it the way Twitch highlights previous streamer’s lives automatically but on a larger and customizable library for viewers to earn VRA and for Verasity to monetize via its ad stack.
And we own several terabytes of gaming and esports video content which will launch with the new video platform in Q1. This is actually massive, because on launch we will have a ton of video content to monetize!
Q30) You seem to have many products but I don’t understand how they work together? - The Esports Fight Club platform — lots of features already available including global and tournament chats, user created tournaments, detailed tournament customization options
- Proprietary video player — in internal beta for launch Q1
- Proprietary ad stack — in internal beta for launch Q1
- Our own esports content — all the content rights from the tournaments and other gaming content owned by EFC &Verasity — this VOD will be monetized on launch of the video platform in Q1
- Our belief that we can drive large streaming numbers via esports tournaments
- Rewarded Video for these users to watch our content and ads on Esports Fight Club and not on YouTube or other platforms by utilizing VRA to engage and monetize
- A large number of ad networksthat include Google AdMob — Signed on
- Proof of View smart contract view verification (on-chain) — now a reality with the swap of ERC777 to fully build out PoV with all its features on the network.
- VeraWallet as a payment system (together with Stripe &PayPal) throughout the Verasity network.
- In Q1’2021, we will put many of these parts together to start scaling our own video player with our ad stack, producing ad revenues in addition to our other revenue streams.
Q31) What games does Esports Fight Club support now? PUBG mobile, Free Fire, Counter-Strike GO, Valorant, PUBG and Ludo is about to be launched.
🚀🚀🚀 Great game selection, so far.Q32) Any near-future plans to expand your marketing? At Verasity, we have a large marketing team that devotes itself behind the scenes to increase our awareness in the cryptocurrency community and reach as many people as possible.
Although we have community groups in more than 10 languages, our local group managers translate all the news, updates into their own languages and publish them in local forums and groups in real time. Thus, we significantly increase our chances of reaching communities that do not speak English. Verasity Spanish, Verasity Korea & Verasity India are already large groups and growing.
We will continue to use media sites, influencers, and all other advertising sources to spread our news in the future as in the past. Gamification marketing opportunities are very important to us as can be seen in LunarCrush.
In return for these efforts, we have gained a great community support that grew slowly but surely. Our marketing efforts will continue to scale. Our goal in this regard is to continue without stopping until every individual in the cryptocurrency community speaks about Verasity.
Our social media metrics have seen a consistent and phenomenal increase over the past year due to our marketing efforts, read here to find out more in detail:
Verasity Social and Adoption Metrics For us the most important metrics to see how we are doing in socials is LunarCrush:
VRA - VERAsity Insights | LunarCRUSH LunarCrush Altrank is the best stats measure of Alts social marketing success out of 2100 popular Alts. We tested many marketing ploys to rank highly. When something works, it’s clear in LunarCrush. Competitions like AltWars simply work. This is the meaning of crypto exposure when the Altrank increases in LunarCrush which measures all social volume, % change per 24 hours, and social score. Even with our volume which only ranks 550 out of 2100 Alts, our Social Volume pushes us in front of much bigger tokens such as OMG, DOT, LINK, CHSB and others. Clearly our marketing is working.
The community support has been phenomenal. It’s been great to see how supportive the Verasians have been. We wouldn’t be anywhere without you guys! So thank you from the team.Especially during the AltWars contest recently… we owned! 👍🏼 Power of the Verasians. 🤝Q33)Have you heard about gaming projects Exeedme and Crowns and how can you compare them to Verasity? We did! Exeedme is an exciting project revolving around gamers personal skill and players betting against themselves (user-centric) that is just at its very inception. They are not competitors as our model (Community, content and tournament centered) has broader purpose and we dont and wont support betting because it will be rejected by many of our partners.
Crowns Token, from Seascape, is a DeFi economy blockchain made for developers building their own online games but who cannot/don’t want to focus on the technical transactional side. Although they are very promising for simple browser and other types of games, they are just not targeting the Esports market and offer, at best, support for upcoming indie-browser games studios.
We would not be able to partner with Exeedme because of betting restrictions but Crowns could be interesting if the games developed are popular with our viewers.
Q34) Are there any plans in the near future (next several months) to list on an exchange that allows full KYC trading for US citizens (e.g. Coinbase, Kraken, Gemini, Binance US, etc.)? This is hard for us. The regulatory environment in the US is not friendly. Since we are not regulated in the US, the risk of listing on a US exchange and the SEC bringing a claim is quite high. At this time we are avoiding this. Lets see what happens with the new SEC Chair who is quite familiar with blockchain. Should he articulate straight forward rules that can be followed and which will not be changed every couple of months, we will consider it then.
Q35) What is: 1. Business structure 2. Marketing plan for next year 3. Customer acquisition costs 4. Execution plan on tech side to deliver Business structure of Verasity:
Development team structure is flat with these functions:
Blockchain developers, Backend developers, highload & security developers, Full stack Developers, web/mobile frontend developers, mobile only devs, Testing & QA, Finance.
For more about the Verasity business model and forecast see:
Tokenomics , Forecast, News Update Marketing plan for next year can be found here:
Marketing, Adoption, Tournaments 2021 (Updated) Customer acquisition costs
We will provide CAC when we are profitable.
Execution plan
See the roadmap on verasity.io
And finally. the last question on the list…🥁🥁🥁🥁🥁🥁Q36) Do you have an update on exchanges? The one that was hinted end of last year and more to come? Very important issue for us and the community. We fully appreciate the necessity for additional volume and liquidity. After the last exchange hack and issues with OKEX, we were thrown off balance but had expected to list on a new exchange by now. Mistakenly we announced prematurely and then ran into the necessity of completing the VRA token swap before we list on a new exchange. Obviously, we want to now avoid having to swap tokens on a new exchange. So right after the majority of the current exchanges we are listed on complete the swap (this month), we will continue with our listing plans. We are well on the way with 2 exchanges but don’t think it’s prudent to provide more information until they announce the listing themselves. The expectation is still for at least one exchange in Q1. Please bear with us on this. We will get there.
Been a great AMA so far. Cleared up a lot of questions and hopefully made you all as excited for the future as we are. Tons of great new updates to Esports Fight Club coming this year and a prosperous year for Verasity is definitely ahead.Thank you Mark!Will be now opening the chat for the Verasians to ask some additional questions.Will be closing the chat shortly after and we can get some more answers out. The gates are opening! 😁 Additional questions Q37) When the Verasity Game Jackpot price will be held again? We are waiting for so long. New jackpots are coming onto the platform but for upcoming games like Ludo which will be announced later this month.
Q38) Is it possible to create something like a create your own tournament where I can play a 1vs1(or 2v2 5vs5) against another player(s) in any game anytime (like in 30 minutes) and where I can set for example a winning price of 100k VRA. and both players have to send 50k before the game to a smart contract and afterward it automatically gets sent to the winner? Esports Fight Club allows users to create their own tournaments choosing from the available games list. We are constantly working on expanding the list of available games and are open for suggestions. The players deposit VRA to the Esports Fight Club account and use these funds to send money to the prize pool. It's quite simple to set up and you can do it for any amount and any number of players and as admin, you have complete control of the size of the pot, how it is shared in % for winners when to start, etc. Its a fully self managed platform that works now. Just go in and set it up today!
Q39) Hi Mark, regarding the plans for in-game advertising and in-game rewards this year, could you describe your vision on this? Is Verasity currently discussing this topic with certain game companies, and how exactly would it work in practice once achieved? Any details you can share with us would be highly appreciated! The way we view in-game ads is our ability to provide our logo or some other image that would be part of the game interface, such as the floor or walls. This already exists and is popular. We are in discussions now with game developers to add Verasity/VRA. This is a high powered marketing tool that will get our name into many gamers’ faces. These are native images in effect. For advertisers that want to use native images inside our broadcasts or VOD, they get stitched into the ad server in parallel to the stream and we get paid for the ad inventory. In-game rewards are still in development but the vision is for users to be able to click on an object in the game and get rewarded for doing so, not dissimilar to clicking on an add and getting a higher CPM.
About Verasity.tv REWARDS BASED PLATFORM FOR ESPORTS, GAMING AND VIDEO ENTERTAINMENT Verasity provides proprietary technology uniquely rewarding gamers, viewers and publishers. Verasity is a crypto-based platform with the VRA token that aims to revolutionise the online advertising business. With its innovative Proof of View system, advertisers are able to guarantee their video ads are seen and not ignored thanks to smart contracts on the Ethereum chain, while viewers are able to earn VRA simply by watching the content they already consume. Verasity has a focus on gaming publishers and esports.
Verasity revenue streams include: Game subscriptions, prize pool commissions and video ad revenues. Read about the tokenomics, forecast, buy back and burn
here.
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submitted by Good afternoon from the UK. It’s Friday 5th June.
Yes, it’s me again. I’m back, hello to one and all. Apologies for a dearth of supply chain posts of late; my workload exploded and then mid last week out of a clear blue sky I got made redundant, just 4 weeks before the company’s fathers day peak sales event. Make of that what you will because I am very confused as to what I did wrong or how I could have prevented it.
It’s a heck of a time to be made redundant in the UK; our prime minister Boris Johnson only yesterday
warned of “many many job losses” to come whilst a mini voxpop of ex-chancellors (the job title for the head of our finance ministry) conducted by the BBC included a quote from Lord Darling (Labour) who thinks unemployment could reach levels not seen since the 1980s (
link), a view also echoed by the Bank of England’s chief economist (
link). For context as to what that means, at the worst point in March 1984 just over 3m people were unemployed which the independent office of national statistics estimates was 11.9% of the workforce (
link). I guess I am the beginning of a wave (no oceanfreight puns intended).
If anyone else in the UK is in the supply chain / logistics game and also job searching, try your luck with
http://www.indeed.co.uk http://www.totaljobs.co.uk http://www.glassdoor.co.uk http://www.reed.co.uk http://www.linkedin.com https://www.supplychainrecruit.com/ http://www.michaelpage.co.uk (mid to senior roles)
http://www.pagepersonnel.co.uk (same company but lower level roles)
https://www.freightpersonnel.co.uk/ https://www.bis-hendersonrecruitment.com/ https://www.castuk.com/job-search https://www.berwickpartners.co.uk/opportunities/ (£100k+ roles only)
https://midas-global.com/ Several recruiters I’ve spoken to already all say that there are not that many jobs up for grabs at the moment but there’s been a surge of candidates onto their books. It sounds like it’ll be a bun fight for me. So far Amazon are thinking about an application from me for a transport program manager role whilst I’ve past the first stage (CV screening) for a supply chain role with Aldi. Aldi offered me a job about 2 years ago but I turned it down because it wasn’t until the last minute before they explained that it was a night shift role - that wouldn’t have worked with my then-fiance’s mental health needs.
For anyone job hunting both in the UK and beyond, if you would like to work for one of the top 25 supply chains in the world (as ranked by Gartner - an influential industry trends analysis company), the 2020 rankings came out
here just over two weeks ago. I leave you to google the individual company career websites on that report.
If I missed out any decent UK recruitment agencies or search sites in the supply chain sphere please let me know (especially in the contracting space); I need a job fairly quickly.
Virus Statistics
I’m no longer going to publish virus statistics from Johns Hopkins because the amazing efforts of
rkuzsma and
TeMPOraL_PL mean it’s fully automated (woohoo!). Get your own daily virus statistics (you can set cut offs as you see fit)
here.
Supply chain news in depth
The future of city centre last mile deliveries is in UCC’s, but it’s a tough nut to crack - Medium.com has an interesting case study from the Dutch city of Nijmegen. Big trucks are often used to deliver into city centres but cause various social problems - traffic jams from double parking in restricted zones, high levels of emissions and pose particularly high risks to pedestrians and cyclists. A new trend of UCC’s (Urban Consolidator Centres) has emerged to try to combat the problem. The idea works around having a cross docking operation on the edge of a city centre where trucks deliver from multiple retailers. At the UCC the orders are sorted and passed on to for final mile delivery by more suitable forms of transport including cargo bikes (examples here from Babboe
here) or smaller delivery vehicles such as 2 tonne vans. Ford Transits or Fiat Ducatos are two examples of existing vans but new entrants offering electrical vehicles are posing a threat to the incumbents such as Street Scooter (
link, the website is in German only). So far so good, but there are a lot of issues with even setting a UCC up; often they require significant amounts of land with good highway access and the buy in is required from the freight carriers (which will be reluctant in case of incurring increased costs).
Nijmegen’s Binnenstadservice has managed to buck the trend and make the UCC a success. Three critical success factors were identified; the operation was set up as a non-govermental organisation (NGO) meaning the trucking companies wouldn’t view it as a competitor, the truck companies have bought into the costs because it releases their trucks faster to return back to their own hubs for new tasks and receivers generate additional revenue streams including storage, home deliveries for bulky items, payments for collection of packaging waste for recycling and support for online retailers. Meanwhile local businesses benefited as well because the UCC provided them with additional delivery options including staggering large deliveries that would otherwise not be possible due to limited storage space on their own premises. Within the first three years truck kilometers had reduced by 5% due to the improved delivery efficiencies and studies have suggested that the total possible reduction could be as high as 32%.
Fast forward to today and there are now 10 UCC’s operating across the Netherlands, all servicing their local city. The question though is whether the success is translatable to other countries such as the US. Europeans value their city centres and the streets in their own right plus noise and particulate pollution problems are much higher up the political agenda than in US cities. UCCs are essential in the Netherlands because the government has set a target of zero percent carbon issues from cargo deliveries by 2025. Time will tell whether UCCs can be introduced elsewhere but without strong political support they are almost certain to wither and die.
Supply chain news in brief
- Faster trans-pacific sailings launched by ZIM - the Israeli container ship operator ZIM is to launch high speed sailings from Yantian and Dachan Bay to Los Angeles utilising 5 vessels as of June 22nd says Splash247. The service is being launched to compete with the airfreight market which continues to experience very high cargo rates plus congestion in several of the major Chinese cargo airports. This is a brave move from the carrier; accelerating from 16 knots to 22 knots will nearly double the ship fuel burn which will significantly ramp up operating costs. Anyone who uses the service is therefore likely to have to pay a significant premium. Still, if there isn’t enough uptake from the market to make it worth their while it’s simple enough to slow them back down to an economical 16 knots.
- Brexit is still happening and the UK’s Freight Transport Association (a key lobby group) is worried that not enough is being done - Logistics Manager reports that the FTA is requesting an implementation period once an agreement has been reached between the EU and UK, in which all necessary preparations for EU departure can be made. Northern Ireland is particularly affected because it has a land border with the Republic of Ireland (which will remain in the EU). Seamus Leheny, policy manager for Northern Ireland at the FTA, told the House of Lords Select Committee this week that businesses needed clarity on the new trading agreement so they could prepare effectively for what he described as “the massive changes that will undoubtedly come”.
- Slow improvements in marine crew changeovers - Splash247 reports that some progress has been made in swapping some ship crews over. Currently over 200,000 ship workers have found themselves working beyond the end of their contracts because countries are refusing to allow them to disembark and make their way to an airport to fly home (despite the fact that in many cases they’ve been at sea for over 14 days with nobody displaying symptoms - 14 days is the WHO mandated quarantine period for Covid-19). Seafarers who have managed to leave vessels and return home include citizens from China, India and the Philippines but numbers remain in the very low thousands; it is clear an awful lot more still needs to be done and of course there are tens of thousands of seafarers on land unable to earn a salary because they cannot join their ships (example story from The Hindu newspaper)
- The European logistics real estate market continues to be severely affected by the pandemic reports supplychainmovement.com. A consultancy reviewed the market in Germany, France, the United Kingdom, Poland, the Netherlands, Belgium, Italy, Spain and the Czech Republic and found that at the beginning of this year the take-up of warehouse space was expected to remain more or less stable at 23.4 million square metres in 2020. However, due to the coronavirus outbreak, decreases to 15.9 million square metres (-32%) or even 12.8 million square metres (-46%) have become real scenarios, depending on when the health situation will return to normal (early October 2020 or early January 2021, respectively).
- The Seattle Times reports that Amazon is expanding its airplane fleet once again - the logistics giant is adding another 12 leased 767s that have been converted from passenger to cargo operations to bring their total fleet to over 80 planes. The fleet has been steadily building since they leased 5 planes to support their 2015 christmas peak and whilst their central air operations hub will remain at Cincinnati airport (which is also a hub for DHL Express), Amazon has announced plans to open regional hubs at Lakeland Linder in Florida, San Bernandino in California with smaller final mile delivery hubs in Austin and San Juan. The decision by Amazon is not simply a move to further speed up deliveries to the end customer but to generally increase their US point to point delivery network - it’ll then sell the operational capacity to others, much like it’s done with Amazon Web Services. Increasingly Prime Air is posing more and more of a threat to UPS and FedEx.
- More airlines are starting to partially relaunch international operations - Virgin Atlantic says flights to Orlando and Hong Kong from London Heathrow will resume on July 20, with flights to New York JFK, Los Angeles, and Shanghai set to restart on July 21. Emirates meanwhile has been allowed by the UAE government to fly to 29 destinations worldwide by the end of June (link). Austrian which is already reopening European flights will add Bangkok, Chicago, New York and Washington from July (link) and the Chinese government has said that foreign airlines will be able to pick one Chinese city to fly into but temporary bans will be issued to airlines who bring in Covid-19 positive passengers.
- Not all companies are domesticating their supply chain - while there have been calls in the US for bringing supply chains back into the country (particularly medical supply chains, the vulnerability of which has been highlighted by pharmaceutical and PPE shortages since the pandemic started), companies in other countries are taking a reverse approach and instead further globalising their supply chains. Supplychainmovement has an article detailing how some Dutch high tech manufacturers are increasing their operations in Asia to diversify their risks. Eindhoven-based Additive Industries, which produces complex 3D metal printers, would like to open a facility in China in the long term from the point of view of risk diversification. “It’s not easy for us to switch to other suppliers. It takes a long time for them to reach our production standards,” says CEO Daan Kersten. “We could ask our suppliers to stockpile more, and we could also produce more for stock ourselves, but that’s expensive.” Kersten would rather set up a second manufacturing and supply chain in China. “Because we’re now seeing that production has re-started in China, while things are still difficult for us here.” Rolf Bos, a Senior Manager Value Chain Transformation at PwC, says that whilst many companies are looking for local based suppliers at this time it’s a psychological response to the crisis and, in time, the need for efficiency will gain the upper hand again. He advises companies to ask themselves what reducing their biggest risks is worth to them. “It costs a lot to produce close to home, spread your manufacturing activities geographically or hold stock. But shipping everything around the world is expensive too.” Conclusion: consolidating your supply chain in your home country will not be a one-size fits all solution.
- Plant-based meat substitute burger manufacturer Impossible Foods says that it will start to sell its products directly through its own website following a surge in demand from consumers since Covid-19 began to widely spread through the US population. Multiple meat production centres in the US (which is much more centralised than in other developed regions of the world) have been badly hit by Covid-19 outbreaks resulting in shutdowns and leading to meat shortages and a surge in prices on supermarket shelves. According to market research firm Nielsen, sales of fresh meat alternatives surged 178.5% in the week ended 23 May, while those of fresh meat rose 24.4%. California-based Impossible Foods, the main rival to Beyond Meat Inc, already sells its products in over 3,000 grocery stores including Albertsons, Gelson's, H-E-B, Kroger , Safeway and Wegmans. (Link)
- Campbell Soup’s CEO reckons his company is well placed to benefit from changes in consumer habits brought on by the pandemic - Mark Clouse told analysts in an investment update call that he believes four trends will shape the food industry for the immediate future; quick scratch cooking will continue, home delivery will continue to accelerate, certain core staples will likely increase in demand and need more in-store inventory and value to the consumer will be critical due to negative impacts on the global economy caused by the virus (link). He added that the company has gained a large number of consumers who had not purchased their products in the previous 52 weeks.
- Forbes believes that manufacturing will likely experience five years of innovation in the next 18 months - According to the article (link) Anna-Katrina Shedletsky, manufacturing needs to “stop talking-the-talk about Industry 4.0, IIoT or Smart factory and start walking-the-walk”. Adoption has been slow due to change resistance, being overwhelmed with the scale of the task or failing to see where the dividends will come from the necessary investment. The article argues that supply chain owners need to find digitally connected partners, ensure you both have the right digital tools to manage the supply chain, insist that you have a digital adoption strategy and finally to throw away the spreadsheets. Failure to do so denies you the ability to view your supply chain in real time and denies you the flexibility and agility to respond to any changes that occur.
Donations
Several asked if they can send me $/£/€ via Patreon (in some cases because I've saved them time or money, others for no reason at all). I don't need the cash (that's lovely though) but as you may have read above, food bank charities are getting really hit hard with all this panic buying. Please consider giving whatever you'd have given me to a foodbank charity instead:
UK:
https://www.trusselltrust.org/ France:
https://www.banquealimentaire.org/ Germany:
https://www.tafel.de/ Netherlands:
https://www.voedselbankennederland.nl/steun-ons/steun-voedselbank-donatie/ Italy:
https://www.bancoalimentare.it/it/node/1 Spain:
https://www.fesbal.org/ Australia:
https://www.foodbank.org.au/ Canada:
https://www.foodbankscanada.ca/ USA:
https://www.feedingamerica.org/ submitted by I've taken some free time to research some of the microcap tokens in CMC & Coingecko and came up with a small list of gems that should be on everyone's radar. I do hope everyone’s well & kicking during this Covid-19 crisis. It will pass like how we've conquered the previous pandemics. Meanwhile, do your part, & stay HOME!
I define microcap anything below 20 million market cap OR is at least 200+ in its market cap ranking and this article is solely picked out from the crypto twitter community.
For any business-related matters, you can shoot me an email here. If you're a microcap gem hunter, feel free to join us and contribute to this chat.
In no particular order, we have
1. PhoenixDAO ($PHNX)
Let me begin with a fairly low market cap that is unique and interesting. PhoenixDAO is a decentralized open-source blockchain project that was a relaunch of the Hydro Ecosystem to bring decentralization and more power back to the community. They forked the open-source Project Hydro protocols such as Identity, Security, Tokenization just to name a few. These set of protocol solutions (smart contracts) are still based on top of Ethereum to create a simpler, fairer, and more decentralized ecosystem for all.
Features of PhoenixDAO in comparison to Hydro:
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What is interesting about this project is that they're offering 6 solutions housed under a single PHNX ecosystem. Better yet, Numio is a private company in a service agreement with the foundation to enhance the ecosystem whilst implementing PHNX tokens into their DeFi products (Pay & Vault). Read more about the agreement here.
Here is where it becomes even more interesting. PHNX inherited the identity management and aggregation framework on the Ethereum blockchain called ERC-1484, which allows gas-less or feeless transactions using the method called Meta transactions within their dApps. This is made possible through meta-transactions of the ERC-1484. Now, with this technology, companies like Numio can build dApps that send money, at competitive fees, anywhere in the world which should be available in the iOS app store and the Android store.
The PhoenixDAO will feature voting rights, staking mechanism, dApp store, community proposals & other incentives. This translates to giving the community the power to decide where the foundation should head while maintaining a decentralized ecosystem. To dive deeper into the Phoenix DAO, read this comprehensive & first look into it! Imagine getting in early on MKR & KNC, this alt is a MUST HAVE in your bag!
TG.Twitter.Website.Uniswap.
2. Sparkpoint ($SRK)
Sparkpoint is another microcap gem you wouldn’t want to miss. This is one of those altcoins that have multiple products in their ecosystem. One of the games I enjoyed the most is their first-ever Blockchain game in the Philippines - the Crypto Slicer. This game allows you to earn crypto & NFTs as you progress throughout the game. Check out these tradeable NFTs here!
📷
Link to IMG.
That is not the only thing to be hyped about this company, there are also DeFi features such as their SparkPoint wallet which allows the staking of their native token, and much more!
TG.Twitter.Website.Uniswap.
3. Ferrum Network ($FRM)
Next on our list is Ferrum Network (FRM), which is another Microcap DeFi & fintech company tackling the finance industry by providing emerging markets financial products with the help of innovative technologies such as Blockchain. To seal the deal as a MUST HAVE ALT, Chico Crypto covered Ferrum Network right below!
With the LOW token supply, the strong team behind the company, unparalleled upside potential in the Defi space, $FRM is one of those bags you must get in these times of the red dot. With token benefits such as staking and its multiple products, FRM isn't one gem to be missed.
TG.Twitter.Website.Uniswap.
4. Rapids ($RPD)
In brief, Rapids is a decentralized open-source project combining both blockchain and social media technology employing the utilization of the RPD coin in the ecosystem. Rapids run on the proof of stake consensus protocol using the QUARK algorithm to reward 30% Staking and 60% Masternodes.
Rapids developed one of the most community-driven coins out there in the market. Many of the big holders offer airdrops and giveaways on Twitter to boost community growth and engagement. In addition, they have collaborated with air coins and the community members are given the opportunity to collect RPD tokens while on the move.
Rapids has positioned itself fairly well in the social networking game, it would be exciting to see the project play out given that it has such a low market capitulation of only USD$475,894. So, this is a coin to watch in 2020.
TG.Twitter.Website.
5. Energy Web Token ($EWT)
Energy Web Token is an open-source enterprise-level blockchain that’s disrupting the energy sector which is trusted by leading industry energy leaders.
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Their suite of products includes SDKs, APIs that allow the connectivity to the blockchain and digitally track low-carbon electricity systems. This is done by introducing their technology which allows developers to use these SDKs to build new digital solutions that help communities, nations, companies, and the world in the energy sector. The technology is vast and comprehensive in the approach to tackle the problem which makes EWT one to watch out for.
TG.Twitter.Website.Uniswap.
6. Banano ($BAN)
The Banano network operates in DAG technology and boasts itself as the 4th generation cryptocurrency that offers fee-less transactions in its ecosystem. $BAN is a meme coin and is a fork of the Nano blockchain, but what caught my attention is the strong underlying community members supporting the project.
They've first caught my attention on p0x, and upon joining their community I was astounded. The real heart of the project lies heavily in its community, which reminded me of the earlier times I first joined the Dogecoin community. With activities such as tip bots, Reddit contents, faucet games, meme generation and rewarded QnAs - I'd say they're one of the more lit TG communities not very far from $LINK and $DOGE.
Products wise; they've recently moved over to their mainnet and released products like Kalium, Banano's official wallet app available both on the iOS and Android store where you can send and receive banano.
They also have similar visual account representatives called monKeys which are unique to their banana address & gives each individual their unique digital character, which I found adorable.
While similar to $DOGE, Banano offers more solid fundamentals as evident from the product launches and being a fork of Nano. While DOGE already withstood the test of time, it will be interesting to watch the growth of Banano this 2020 EOY.
TG.Twitter.Website.
7. CurioInvest ($CUR)
CurioInvest is a platform that allows the tokenization of real-world assets, not just cars as advertised on the website. This new Gem is on our radar because the tokenization of cars is disrupting a multi-billion industry that will be accessible to the public mass. Not only that, but we also enjoy the staking benefits, low market capitalization, & the low token supply (2,000,000). Curio will also be launching a CurioDAO using CUR as a utility token, built on Aragon which will provide token holders voting and governance rights. Staking opportunities will also be available in their suite of DeFi platforms.
Blockchain has made endless possibilities and with Curio’s platform, owning a Ferrari, Real Estate, Gold, ETFs will be simple. The digital ownership of the car can also be traded across the platform for digital assets (BTC, ETH, CUR) or into fiat.
📷
Now that decentralized finance (DeFi) is in the spotlight, it will be worth it to bag up a few of these tokens in light of the next altcoin season. Lastly, a little birdie told me there are rumors up for this HOT crypto GEM company - do check out this thread on 4chan.
TG.Twitter.Website.
8. Sylo ($SYLO)
Sylo is one of the newest projects in the space, and Sylo is its native token that runs in the ecosystem. Their protocol involves the next-generation communication platform that allows users to tap into blockchain while remaining scalable for the millions of users projected in the future. The network also remains decentralized as it uses customers’ computational power while being rewarded for providing the software capabilities.
Now, what's exciting is that Sylo is partnered with Coca Cola! Check out the article here. And lastly, SYLO is deeply connected to large brands through Centrapay! Definitely a coin to bag in. See you on the moon.
TG.Twitter.Website.Uniswap.Kucoin.
9. Sentivate ($SNTVT)
Sentivate caught my attention when Chico Crypto first introduced this token on his youtube as his top altcoin pick that will explode.
While the product they're developing (a Hybrid web browser, hybrid applications) is centralized based, they have a pretty way of convincing that the best solution to fixing the internet is having a hybrid web instead of a decentralized web. Sentivate argues that a decentralized web is slow and is not optimal for use in the future from a scalability standpoint. In their proposed solution, they offer an ecosystem that offers both centralization and decentralization which makes sentivate truly standout.
They are the first project in the cryptoverse that has ever commingled both decentralization and centralization which makes it one of the most phenomenal and exciting projects to look out for.
TG.Twitter.Website.Uniswap.
10. DAPS Coin ($DAPS)
This is one of my favorite coins of all & the all-time TOP privacy altcoin gem, DAPS. It is another community-driven token that is always popping up everywhere on Twitter. DECENTRALIZED ANONYMOUS PAYMENT SYSTEM or DAPS for short is exactly what its name is; an anonymous payment system that is secure and scalable which boasts itself in technology that is derived from both PIVX and Monero. Making it the first crypto project that combined two technological leaders in their niche.
📷
The chain is validated via a one-of-a-kind hybrid consensus protocol model of PoW (proof-of-work), PoS (proof-of-stake), and PoA (proof-of-audit), a proposed solution by DAPS team to solve the 'Trust problem'.
The solution presented is unique and definitely groundbreaking from a technical perspective, making DAPS one of the most anticipated performers of 2020. DAPS coin has already challenged the TOP 50 of CMC by making use of old tech and combining them to formulate a synthesized powerhouse protocol. This coin is in the bag.
TG.Twitter.Website.
11. Chromia ($CHR)
This GEM is currently one of the highest in terms of market capitalization but still fulfills our criteria as a micro-cap. This is something new and fresh off the shelves with an idea of relational blockchain. This combines the idea of relational databases & the concept of blockchain. These combinations of the two innovative technologies create a smoother, more efficient ecosystem of dApps & acts as a Layer-2 of the Ethereum Network.
The team also announced a recent token burn in this article. The team also plans to launch a staking mechanism in their ecosystem and the Chromia mainnet will be available in Q3 2020. As of writing, the chart of CHR has been in constant increment and forming a beautiful arc-shaped parabola that indicates investors flocking.
📷
TG.Twitter.Website.Binance.Kucoin.
12. LTO Network ($LTO)
LTO Network is a hybrid network and platform built for business-to-business to boost efficiency and enhance the collaborative approach. The platform allows safe collaboration between businesses whilst binding rules in the form of smart contracts. LTO network currently has two products; Proof Engine and Workflow Engine. The workflow engine is built on a scalable, private permissionless, and on a computational model called Finite State Machines. With a unique tech, forward-looking team, and strong community - LTO is one to be in your watchlist.
TG.Twitter.Website. Binance.
13. Verasity ($VRA)
In brief, VRA is an attention-based platform for video rewards in the form of VRA tokens, making it similar to BAT one way or another. However, Verasity has already established plugins for reward distribution on Entertainment giants such as
📷
Their ecosystem is summed up in this pictorial depiction.
📷
Verasity also has its staking platform where you can earn 0.1% daily tokens based on your staked amount. With these global giants already integrated with the VRA reward system, more & more people will begin to obtain VRA tokens just like BAT. With a groundbreaking innovation in the video industry, this token is not far from clawing itself up the top 100.
TG.Twitter.Website.Uniswap.Kucoin.
14. Hydro ($HYDRO)
Hydro has been in the space since the 2nd quarter of 2018 & has made significant progress at the protocol level. With a new turnover of team members, the core team is growing at an exponential rate, it would be interesting to watch as they revive the team & project as a whole, and onboard as many developers to build with their COMPLETE suite of protocols available on Github. These tools are sufficient to create some of the most groundbreaking Defi, Blockchain, & Tokenization products.
TG.Twitter.Website.
15. Brickblock ($BBK)
This token has been on my radar for a long time now, and I have also written a comprehensive article on it already so I will keep this short and simple.
Brickblock is a platform that leverages blockchain and provides access for users to invest cryptocurrency in tokenized real-world assets such as real estate, exchange-traded funds (ETFs), paintings. Brickblock, however, is focussing on obtaining clients in the real estate industry.
They've recently made their first tokenized transaction in their platform and the fees are distributed in the form of ACT tokens which are backed by ETH (fixed ratio 1000 ACT for 1 ETH).
Simply put, it's a staking (activating of tokens) platform and the rewards are highly dependent on its platform liquidity. Brickblock already has it's staking platform live but it is awaiting more ACT earnings after raising funds from more real-estate assets.
Brickblock's transactions go by millions if not by hundreds of thousand dollars, if this project lifts off, the staking rewards will be one of the biggest in the industry. The assets being traded are real estate properties and exchanging hands in the form of millions. A small big of Brickblock might go a long mile in the future.
TG.Twitter.Website.
*Disclaimer: Cryptocurrency & penny cryptos are highly volatile & risky assets. Please do your own research before investing. This article does not serve as a financial advice. All content found in this article is purely the author's opinion and NONE of the companies mentioned in this article paid to be mentioned.
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