Introduction
Introduction
I look for new projects on CoinGecko that seem to have potential. It is unbelievable how many projects that do not bring any value like those meme coins like PEPE everyone is talking about. It is a hype that doesn't stay for long.
My brain skips rapidly like the number of tokens, where you can trade the token, the liquidity, etc... Then I check the website to see my first impression like the look and feel, the design, and what the project tries to accomplish in this world.
What did Damex try to accomplish?
Right on their main page, they seem to target business and personal people with an APP they want to bring to the market. An element that interests me to choose this potential project is the move to earn layer with an APP to swap tokens, DeFi, etc. I can't say exactly what the APP will look like.
I wanted to download the APP from my Android emulator on my laptop. Unfortunately, you need to join a waiting list to be notified when the APP will be available. I don't like when they don't have a working product, and probably I will forget about it. It is hard to pay attention to everything that happens in real time in the crypto sphere.
Anyway, it will remain on my list of potential projects and I might do a follow-up another time. To have patience is a virtue when you deal with any project from the crypto sphere.
Reward to bring people to Damex
Creating momentum and hype around a project is a necessity. It is cool when you have a chance to refer friends and maybe in return you might get something back. Affiliate marketing always helps the project to grow organically.
They intend to provide a Visa card where you have a chance to use your crypto and spend them. It is not the first that exists in the market, but great to have newcomers bring this essential and innovative way to use your crypto. A real utility instead of just HODL your crypto and doing nothing with them. Just wait to see the price increase with a lot of volatility on the way!
So far, Damex has over 1000+ active users, but I doubt it because you cannot use or download the APP. They intend to bring 10 different types of cards to the market.
Outstanding features
Let's be honest to have challenges built into the APP where you might receive their tokens. It is an interesting feature people will enjoy. I believe walking around in your city and doing your daily activities to have a token is just too cool. I know the token might lose it is value if they don't build a utility for it.
Imagine you can spend your crypto to buy maybe a nice latte or a cool muffin with your reward. You make exercises to do some challenges, and earn rewards for exchanging I hope for goods and services.
Just have money that does nothing, it is not the ultimate goal in life.
Conclusion
You need to be aware this project has not a working product as we speak. Their token had just been published recently on the website of CoinGecko.
Never rush blindly for any new projects out there because you can burn and lose a lot of money. As Warren Buffett mentions, the way of life is not to lose money and always remember rule number 1. The same analogy applies when you deal with a newcomer in that space.
What I like personally in this project is the move-to-earn feature built into the APP. Also, to integrate and use a Visa card where you spend your crypto and receive some free for doing challenges and maybe receive a reward.
Please let me know what you think about the potential of Damex.
You can access their website at the following link: https://www.damex.io/
PS: I am not a financial advisor, and this is purely my personal opinion about what I find cool in the crypto sphere.
Have a blossom day!
@Cryptosnowball