Post
Topic
Board Economics
Re: Don't fall for the "Beauty premium" of some coin/site
by
Ndabagi01
on 01/06/2024, 23:26:08 UTC
We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.

Tap Swap have truly gotten a lot of hype and that was possible because of their launching that was planned to be on the Solana blockchain which now they’ve switched to another blockchain (Ton) network to launch on. It is unlikely for projects to switch blockchain some days to their launching pool. To some, it signifies a red flag, while to some it still sounds okay and cool to still believe in the success of the project. Nothing can be trusted on this space, so everything at your own discretion.

Quote
The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

For users who have spent more years in the crypto world and have at least witnessed the bitcoin cycle even once. They can be good in terms of technicals and how to go on research on projects that can do well and have a very advanced technology, technical team behind the project from onset. They can easily be spotted and if you’re not good at going on research to know projects that will do well, don’t fall for influencers but rather get in touch with someone familiar with such research to help you out and also give you some clues you need to watch out on to see a red flagged project even if it has been this vibes of beauty premium in it.