Cryptocurrencies and Their Communities
When we think of investing, we think of key factors we’re looking for in our investment. Some of those factors might be the project idea, the founders, or who else is investing in the project. While all of these areas are great to know about before investing, no one talks as much about how the project’s community and their customers play an important role. The community for some projects include the team but they also include the investors or people who want to promote the project. As you can imagine, some crypto projects have massive and diverse communities. So, in addition to the things you ordinarily search for about projects before investing, it’s a good idea to check out how their communities act and function in addition to things like project ideas and execution of those ideas. There are several great examples.
Solana is one example. Solana is a project aimed at improving blockchain infrastructure by building a scalable, interoperable, and fast network that developers can build on. Solana has a massive presence on lots of social media platforms like Facebook, Twitter, and even Instagram. You can join their Telegram or Discord group or both. You can even keep up to date by viewing their blog that they post to regularly. Speaking about their telegram, there are currently about 84,000 members. In addition, they run giveaways often that involve getting some $SOL or some merchandise. This has proven to be effective as their community has grown large over a short period of time.
Another great example is Cobalt Lend. This project is all about lending and borrowing but they’ve recently branched out to start building a community not only for themselves but for all the projects they are associated with. This community is powered by the NULS network and Cobalt Lend has started the process of getting all of the projects together to form a broader and more inclusive audience for their communities. This project stands behind the idea that we build better together. You can join them on their telegram channel which is currently 6,000 and growing or you can join the NULS SCO telegram that hosts all the projects using the NULS network. The latter group has about 9,000 community members. Cobalt Lend even helped to organize and run a weekly Telegram program called the Crypto Corner where all participating projects answer questions for the community each Monday morning. You can find Cobalt Lend on major platforms like Twitter, Facebook, and Instagram. Cobalt Lend will also be on platforms like Snapchat and TikTok in the near future.
The last example we’ll look at is PolkaDot. This project aims to improve blockchain user experience. Much like Solana, they’ve created a more secure, scalable, and fast network. Solana is a layer 1 solution whereas Polkadot is a layer 0 so that’s one notable difference about the two. To get involved with the Polkadot community, you can visit their Discord or Telegram groups. You can find them on Twitter and YouTube. They also have a Newsletter that you can follow for more updates as they happen.
Those are just 3 projects among a host of other great projects that have put an emphasis on their audience and community. All of these projects are constantly looking for new ways to include their communities. In fact, Cobalt Lend is completely community-driven and Polkadot allows their investors to vote on important matters that happen with their project. This is an important factor when someone wants to invest. It’s not just about who created it and what big names are investing. Now, it’s also about how to get people to more actively participate in the projects they’re investing in. That’s the power of blockchain and demonstrates how blockchains are empowering personal financial freedom.
