CRYPTOCURRENCY SCAM RECOVERY - WIZARD WEB RECOVERY
annaliseraquel
Understanding VapourWare in Crypto.
lhorgic
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2024-08-21 15:42:39
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Hi friends! how are you doing? Welcome to my blog, it's super good to have you back here. I trust you got value from my last post. I bring to you another interesting content, one that I believe you would find interesting as usual. In my previous post, we explored the concept "Token Lockup", you can check out my blog to read through if you haven't.
Today, we would be looking at **VapourWare in Crypto**, what it is and what it stands for... it's actually another topic of interest I stumbled upon and felt like sharing with y'all. I hope you guys learn one or two things from this write-up.
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We have seen the rising of some supposed project that went under all of a sudden, we could not come up with viable reasons why we no more see these project or hear about this same project that was the talk of the town, which also became an household name in the lips of many within a short time.
Usually for most of these project, what we remember them for now was the hype around those projects. It funny how that after the hype and all, these project still failed to deliver while some that weren't even hyped turned out successful. Well I just gave you a tip of the iceberg on what we would be discussing in today's topic... VapourWare.
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VapourWare in crypto can be defined as project, cryptocurrencies or related assets that's were hyped and massively promoted because they claimed to have some sort of improved solution so much so that it attracted investors but failed to deliver...not even a working product or services to that effect. Everything ended up a concept without being materialized.
Many of these project comes with lofty and exaggerated solution to problems or some sort of improvement in certain aspects of the Defi, NFT and crypto world in general but ended up conceptualizing their goal and never delivered the product and service they have so much talked about.
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At this point a project is deemed dead because it lack functionality. The truth is that it's not completely dead in most cases. The developers might just be in the background working on it. In this case, the project is still alive and ongoing even though there are no evidential product/services pushed out to the general public.
On the other hand vapourware project would be considered completely dead if it has been abandoned by the owners or developed due to several reasons which I would highlight soon as we progress in this discussion. A lot of project that went through ICO always turnout to be products of VapourWare.
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One of the reason why most project fail to deliver after all the hype is as a result of some technical issues they encountered and they got stuck afterward. The fact is, some of these folks do not really count the cost of some of their promises and then get choked along the way.
Another reason is lack of funding. Funding is important when it comes to the success of any project, delivering a service or creating a product requires a substantial amount of funding. Hence the reason why some of these project resort to ICO, even though many still end up failing after ICOs
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In addition, the reason why some of these Blockchain /crypto project fail is because of their over hyping activity which is not usually healthy for a well meaning product. Over hyping is a red flag for many investor. Some of this project hyped a project ahead of the future, I mean months or even years before they implement and then end up failing on the long run
Sometimes ago we started hearing of a project called Ethereum killer, well only these folks can tell what inspired them to come up with such project but as we speak they seem to have gone under because there are no evident product or services we can trace to them despite the fact that they raise millions of dollars through ICO.
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Many have been victims of VapourWare in the past because these projects like every other well meaning project also raises fund through ICOs and some unsuspecting folks had committed their resources to it somehow and got burnt in the process. In this session we want to look at how to avoid them as much as possible.
• **Check out the team:** Don't act blindly when you come across a project that come with a promise that is off the roof...seeing that a promise is off the roof alone is enough red flag but then we get blinded sometimes by greed. Check to see if the team are experts or just some hype men.
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• **Go through the whitepaper:** Every well meaning project looking to add value to the Blockchain/crypto space should have a wall paper that clearly spells out their objectives and goals. You need to be sure they are not vague and unrealistic.
• **Check for MVP progress:** Every well meaning project should have a minimum
viable product even before choosing to raise fund for some sort of progress on their course. When you find none, it a kind of turn off.
• **Check RoadMaps:** Road maps are also pointers to show how genuine a project is. Road maps show the direction and milestones the project aims to hit as they proceed with their long term journey. If the road map is unclear and clearly focus on short term achievements, you need to run off.
• **Check Community engagement:** Research has shown that community engagement show to a remarkable extent how genuine and promising a project is. If the discussion there is not focused on growth and development but some unrealistic price/value then you should be cautious.
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I believe by now you understand what the VapourWare is and it negative impact in the crypto space because all we end up having are conceptual Blockchain solution that never materializes.
As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.
Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!
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**Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.**
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Regards
@lhorgic♥️
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