In one of its post ICO activities and increasing recognition, UBEX was invited to participate and take part in GPU technology conference hosted by NVDIA. The aim of the conference was to explore the opportunities and developments offered by the most recent breakthroughs in AI technologies of which Ubex stands out as a significant project.
This is part of the support which Ubex is enjoying from NVDIA which includes introducing it to new technological innovations and techniques that will help enhance the platform system and its modules.
Beyond Just Token Value
The process of building new projects within the decentralized ecosystem of blockchain technology involves several stages of development, especially with widely accepted products.
Between conceptualization and actual launch, the amount of work and resources that go into project development can only be appreciated by participating insiders who follow up on the day-to-day activities of the teams involved.
The larger community which is mostly populated by investors and project adopters often measure the performance of projects based on the value appreciation of underlying tokens. However, a true reflection of performance is expressed by the internal efforts and commitment of project teams to keep up with their promises and in achieving the set milestones, while sustaining the confidence of investors at the same time.
Product Concept And Documentation
Every project begins with an idea. It is around this idea that the total planning and team building would resolve. The proposed solution of projects determine who can participate in both the core development and the propagation of such projects. This is what influences the expertise recruited and partnerships proposed, and ultimately the general characteristics of the project team.
Projected solutions of any given project must define who the solutions are meant for. Therefore, there must be a well defined target audience or market in terms of both geography and profession. This concept provides a pointer as to where and how resources can be channelled in order to minimize waste and achieve maximum result.
The above described factors and more are what informs the content of the whitepaper of any given project.
Project development is usually a complex affair. Therefore, for detailed breakdown of project philosophy and execution patterns, especially for the benefit of potential investors and the community at large, a whitepaper is necessary. Most of the time, whitepapers serve as an accountability document for which a given community can measure the commitment of a project team, especially after capitalization.
With a complete and well documented plan, fundraising and capitalization becomes an all important next stage for projects, provided all legal conditions are satisfied.
Traditionally, companies employ the regulated Initial Public Offering(IPO) system to generate developmental funds and offer company shares to willing investors. The advent of blockchain and decentralization has introduced a disruptive system that is powered by tokenization. This system which allows companies to raise funds through unregulated crowdfunding systems has in the past few years delivered impressive results albeit amidst various controversies.
Initial Coin Offering (ICO) involves a borderless investment procedure that offers various classes of investors the opportunity, not to buy shares, but rather to purchase tokens of a product which can be exchanged at a future date in a decentralized cryptocurrency market place.
Both investors are keenly involved in the processes of ICOs, most of whom embark on such ventures primarily for either long term or short term trading. But for core project teams, major interests lie on long term hodlers of their tokens and continuous influx of capital. This is what how the public measures adoption and project success.
Actual Product Development
While a successful ICO goes a long to build public confidence, the effort involved in sustaining project through the entire process of product development seems to be significantly underrated.
Processes like listing on exchanges, especially the major ones, engaging in respectable partnerships and continuous engagement in terms of publicity with the community are processes that demand huge commitment and resources. As a matter of fact, these processes are the actual reasons for the ICOs in the first place.
Like in the example mentioned above, the Ubex project, despite being traded on several exchanges even before the end of ICOs has continued to announce newer listing and expected one for the future, especially among the A-list exchanges.
Understanding The Ecosystem
Therefore, it is paramount for participants in the ICO ecosystem to really understand how projects develop and why tokens undergo certain metamorphic patterns, swinging in different directions especially after the end of ICOs.
It is also important to note that several potential products that have either failed or stalled in the process of delivering on promises haven’t all set out to defraud. Rather, not being able to keep up with the pressure of project sustainability after fundraising is sufficient reason to completely run out of gas.
Hence, for projects whose team continue to strive towards achieving their original promise to investors and adopters, credit must be given alongside the demand for responsibility and unrelenting commitment.
Iyke Aru is a seasoned author and educator in the blockchain and cryptocurrency industry. He has been in the business of crypto content writing for many years with thousands of his articles across several platforms on the internet. Iyke is based in Nigeria where he stands out as one of the most informed and credible figures in the cryptocurrency industry. Outside blockchain and crypto, you will most likely catch Iyke playing or discussing football with friends and family.