I'm doing a series of due diligence reports for promising BitClout profiles that may suit your eye in terms of a befitting your investing strategy.
BitClout is an open source cryptocurrency project and social media platform where users can buy and sell "creator coins" based on people's reputations; these creator coins are non-fungible tokens and are bound to cryptographically secured accounts with unique names.
The beauty of the platform that is when you buy a token, if you're the first one, and the founders rewards is 0%, say, then you are only exposed to the value of $Clout, which is the token's built-in token upon which all profiles are denominated.
Today's profile we're profiling is the well-regarded Dr. Seuss profile. If you have young kids, or were young yourself, you likely remember reading the Cat in the Hat, Green Eggs & Ham, or seeing the holiday classic How the Grinch Stole Christmas.
This prolific writer has a command of the English language all his own, and for his contributions with the pen, he's beloved the world over.
Last year, a publishing house pulled 4 Dr. Seuss books they deemed to be offensive, but this move was, as evidenced by the up/down votes, felt to be an overreaction, of sorts, to the political correctness seemingly go amok, in this circumstance.
People felt comfortable condemning actual unacceptable behavior, and less less addressing borderline behavior in terms of the drawings, which someone may deem or be offensive, depending on your sensibilities.
For many, as a sign of support, they started to buy collectible Dr. Seuss books, igniting a collecting frenzy that saw some of the "banned" books sell on eBay for 5-figures.
Dr. Seuss clearly has a cemented place in the literary figures of the 20th century. This makes his BitClout profile rather undervalued relative to his importance.
There is $21.09 locked in this profile.
The name of the game on BitClout is discovering profiles before others do, using one's thinking in terms of what is the probability that a whale, or group of minnows, might happen upon a profile and determine that it has a better change at appreciating than depreciating.
For some, discovering someone early, either through the recognition that they are a good investor, writer, or speaker, can be hugely profitable.
If you put in $1, say, in a profile such as @reade's, to buy one of his coin's, at the beginning of the bitclout's profile history, then your $1 has turned into $11,271.81. That's a bitcoin-esque return in a matter of months instead of a decade plus.
This is the power of BitClout and backing individuals before they explode onto the scene on BitClout or the public at large.
It's unlikely that DrSeuss, or any other BitClouter, will hit $728k staked, for a $2.185M marketcap, overnight, but the tokenomics and economics associated with isolating key projects and getting in early is the name of the game and represents an exceptionally tried-and-true way to earn $CLOUT as a result of your cunning and research skills.
A historical significance is important to introduce a baseline demand for a particular profile, but it's just as important to see who is backing a particular profile. Just like in venture capital, people enjoy going in after their friends on rounds of funding, helping to make their friends look good for getting in on an early valuation, but also to ensure that they are covering themselves if things go haywire. They can always say, look, Mr. X invested in this so he also is guilty of not seeing X.
These whales could also swoop in and buy a whole host of tokens with their avalanche of $CLOUT at their disposal.
DiamondHands - Founder of BitClout 😮,$1.456M BitClout valuation
dharmesh - founder of HubSpot, $2.675M BitClout valuation
And many savvy early-movers that are dipping their toe in with a few dollars from their bag of hundreds of $CLOUT.
My advice for those still getting their feet wet on BitClout is take the free $10 in $Clout they offer for verifying you are who you say you are, and write down a list of areas in which you have some specialized knowledge. Find industry leaders in those niches and if you're one of the early ones to recognize this value then you're well positioned to profit from your specialized experience.