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If you ever wondered why crypto projects rise and fall so quickly, you are not alone. In fact, barely 7 months after the 2017 bull run ended, over 800 projects have ceased to exist like a puff of smoke.
To understand the reason why 90% of crypto startups are going to fail, there are a couple of factors that need to be considered, including shortage of funds, over-reliance on hype, and immature business model.
Nevertheless, without projects paving the path towards innovations, there would be no DeFi, IDOs, or even NFTs. The entire cryptocurrency community would not even exist, simply because there are no projects around to support it.
However, the growth is going to be challenging to achieve every time the crypto winter happens. Investors are flushed out from the market, whereas projects are left on their own to sustain themselves for the coming few years, until the next bull run.
This presents a question of survival to every crypto project in the industry, which begs the question: How does a project navigate through the bear run with all the capital and community leaving the industry?
Torum, the world’s first DeFi + NFT social media platform that is specially designed for the crypto space, intends to solve this long-time dilemma.
Community Consensus Equal Survival
To survive in a bear market, securing community support is essential. Without an active community behind a project, the project simply starts its own countdown to death.
However, the industry is always short of a cost-effective channel for projects to build their exposure. To get connected with the cryptocurrency communities, most projects are forced to use PR, airdrops, and offline events which only produce short-term results, yet remain costly as ever.
As a social media platform with over 59,000 unique cryptocurrency users, this is where Torum comes into place. In the coming July 2021, Torum is going to unveil an ecosystem development strategy that aims to connect, and enrich all the industry leaders, communities and projects in the present crypto industry.
A One-Stop Marketing Suite for Projects
In the coming H2 of 2021, Torum will be shifting the focus of ecosystem development into integrating a set of project-specific features that enables project owners to build and manage their community, while helping projects attain the desired marketing exposure cost-effectively, including:
– Torum NFT Launchpad: Project owners can issue a set of limited-edition NFTs to the community
– Torum NFT Marketplace: The first social-infused NFT marketplace with the ability to market NFTs to the existing user base of Torum
– Torum Airdrop: An exclusive feature for only the best quality projects to conduct airdrop, which helps to create interest and awareness among the Torum community
– Torum News: A one-stop section that gathers the news and information of a project for the maximum industry credibility and community exposure
– Torum x Telegram Bridge: A section for project owners to streamline their latest Telegram announcement onto Torum for the best community interest and exposure effect
– Torum Audio Meeting: An audio-only board for project owners to conduct AMA and close-engaging events.
Through these feature integrations, Torum can provide project owners with the following premium benefits:
Onboard and manage their community onto Torum in a frictionless process
Stay active and engaged with the community
Synchronize the project news into an information center hub
Access to the existing 59,000 Torum community base
Utility Innovation and Value
When it comes to the social media space, it is not surprising that most crypto social media projects seek to become the next crypto Facebook or Twitter. However, Torum decided to go for a different approach.
Instead of trying to connect everyone together, Torum is only focusing on building features and integrations that add value to the Bitcoin OGs, Ether enthusiasts and altcoin degens. The idea paves the way for the birth of the first social media platform that is reinforced with crypto cultures and memes such as HODL, Bitconnect, Lambo, etc.
Without a doubt, the strategic minds of Torum have proven to be working as the platform has accumulated over 59,000 users in a highly saturated industry, while other social media peers are struggling to acquire and retain users from a red ocean market.
The Next Leading Crypto Social Media
Backed by AU21, Consensus Lab, DFG, M6, Waterdrip Capital, and 15 other prominent crypto VCs, Torum is the first project to ever combine social media, NFT, and DeFi innovations.
The project has also completed an exclusive INO event back in May 2021, selling off $243,000 worth of NFTs in under 20 minutes. In addition, Torum has established partnerships with strong and reputable industry players, including MantraDAO, Poly Network, Kylin Network, Darkpool Liquidity, and Jinse Finance.
With over 59,000 registered users, Torum has proven to be one of the fastest-growing social media platforms, growing steadily between 10 – 30% every month for the past 12 months, connecting cryptocurrency users from over 40 different countries, including the US, Canada, Italy, Germany, Australia, China, Singapore, etc.
Upcoming Token Generation Event
In the upcoming H2 of 2021, Torum will be making its token launch debut, featuring its native tokens – XTM to subscribe. The latest announcement on token sale shall be updated via Torum’s official Telegram Group and Channel. After the successful launch, Torum will head straight into its exchange listing process and work aggressively towards the vision of building the largest ecosystem in the crypto industry.
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Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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