This article was first published on Viberate blog - Medium
This is the question every single company that raised money through the ICO has been getting over and over again.
The 2017 ICO hype probably won’t repeat ever again. Now we are all witnessing a carnage on the alt market and most of us are asking ourselves what could token issuers do to boost the price of the token.
We at Viberate successfully used the token in our rewarding system and together with our contributors, we grew our database by 10x. With the launch of the new platform we discontinued the contribution rewarding system and channeled the tokens to database supervisors. Anyone can become a supervisor, you just need to first prove yourself as a trustworthy contributor.
Paying booking fees in VIBs and holding funds in escrow is still our long-term goal, but we need to work on growing the community before we can successfully launch that feature. Every online marketplace is struggling with the chicken-and-egg problem, so growth hacking is paramount. Until we get there, we need to think about other ways to utilize the token and invent ways to increase buying interest.
Buying interest increases when a certain asset isn’t available on public markets to the extent that would satisfy the demand and this drives the price up. In crypto, this means that people hold tokens in their wallets instead of on exchanges, with active sell orders. We had that in mind when brainstorming about how to increase the demand for VIB.
With the launch of the updated service, we will gradually start introducing various business models. Viberate Tonight has an impressive reach and is interesting for lifestyle advertisers. Our festival apps are getting traction and existing clients are our best ambassadors, so the demand here is growing. The ...
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Viberate blog - Medium