The ICO is yesterday’s news. No sooner had projects raised $6bn in the first six months of 2018 than the entire market dried up. Just $1.5bn arrived through Initial Coin Offerings between July and December of last year.
The start of 2019 has been just as quiet. February marked a new low in funds raised. And with no respite in sight, emerging projects find themselves in a sticky situation: how do you launch a pioneering concept into an unpredictable market that lacks the buzz of an ICO?
The answer could be simpler than you think.
“Go Where The Investors Are”
The fact is – most ICO’s fail anyway. Thousands of projects die after short-lived success showing that the ICO’s-of-old allowed ‘too much focus on launching without any focus on the build.’
They let unworthy concepts slip through the net, while it’s been the average investor who’s paid the price. It’s about time the ICO was put in its place, and now the excitement has died down, an alternative approach could do just that.
It’s a strategy pioneered by a project in the luxury sector – by a team that’s devoted their resources to building a real currency over raising money from the masses. But it could work for any cryptocurrency that stays true to the same cause.
The approach? Direct exchange listings.
Leveraging Existing Communities
Elitium is building its luxury lifestyle network using the EOS protocol.
The company is developing an application that will use smart contracts, cryptocurrency, and artificial intelligence to remove the inefficiencies of the luxury sector.
But while the company was founded in April 2017, Elitium has waited until recently to launch its coin. After two years researching its concept, the team listed the native cryptocurrency EUM directly on premier digital asset trading platform BitMart on February 20th.
Now, precisely one month later, Elitium is moving forward with listing two.
On Wednesday 20th March, Elitium’s coin EUM will become available on the innovative multi-currency crypto-trading platform STEX.
Elitium chose STEX as the exchange is unique in the crypto world: it focuses on altcoins with a community that does the same. So, STEX will help Elitium build momentum among its core audience.
To many, STEX is also one of the most underrated, albeit well-supported, exchanges out there – and being so user-focused, it dovetails well with Elitium’s strategy.
By listing on STEX, Elitium will make it as easy as possible for any investor to purchase EUM. It will remove the typical barriers to entry – such as tricky KYC or opaque payments – and tell the same story that Elitium is championing with its platform.
An intuitive user experience that puts luxury within reach of anyone.
The Future of Luxury
The success of the project will rely on more than exchanges alone. Elitium needs a user base to support its vision. And while the direct listing strategy has helped grow the official Elitium Community by almost 400% in one month, the team must capitalize on its momentum.
Elitium plans to do so with ongoing platform developments, the first being a Virtual Executive Robot Assistant – or VERA, for short.
VERA is the cornerstone of the Elitium mission. A showcase of what genuine luxury could one day be: a lifestyle characterized by free time, the time to live the life you dream of. Yet, while VERA is a key to Elitium’s future, the platform will offer so much more.
EUM will sit front-and-center. A cryptocurrency with a real use case to enable anyone, anywhere, to live their own version of luxury. A coin that’s backed by tokenized insurance for an additional layer of security; a payment method that rewards the user for spending EUM.
The Black Card of the Blockchain, if you will.
EUM will also unlock the utility of the Elitium platform, potentially saving billions of dollars by helping service providers better manage the stream of paperwork their operations generate; or simply letting busy families find time for vacation: here, Vera will come into her own sorting the destination, bookings, and activities – in just a few simple steps.
Therein lies the beauty of the Elitium ecosystem.
An AI-enhanced network – underpinned by the blockchain – that connects people with brands and services from across the world. A time-saving device that will free you from the constraints of your day-to-day to pursue a lifestyle you can only dream of.
Listings Sustain Growth
The market is evolving, yet remains unpredictable. Partnerships with STEX and BitMart put Elitium in front of investors and early-adopters who can help scale the platform in a sustainable way.
Meanwhile, Elitium can focus on other key milestones.
- The beta launch of the Elitium lifestyle app – within four months
- Further top-tier exchange listings – targeting two per month
- A position on Coinmarketcap – any day now
These are defining moments on the horizon for such a user-centric cryptocurrency.
Just be sure to buy EUM before it features on the ‘cap.