Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. Today I will be doing a quick write up on an interesting topic I recently came across, a new crypto known as Big Eyes Coin (BIG). It is the newest new meme coin on the market (following on from SHIB and DOGE) and it hopes to make a big contribution to saving cryptocurrency and NFT's from the ongoing bear market.
The Whitepaper
The most important part when looking into any new project and discovering its aims, ambitions, and goals is to review the whitepaper. After looking through it, its clear the main aim of the project is to work as a community token which has the ultimate aim of shifting wealth into the DeFi ecosystem. Instead of just acting as a community, the projects plans to create its own blockchain ecosystem which self-propagates for hyper growth through the use of NFTs and access to events. Quite on par with many projects which have entered the space over the recent years. Based around a "cute" cat with big eyes, the tokens of the project will be:
- 90% of tokens available at launch and owned by the community
- Visible Charity Wallet holding 5% of tokens aimed at saving the oceans
- A NFT collection(s) that aim to hit the top ten of NFTs while bringing value to the community, with any profit from NFT events put to a burn or not to burn vote.
- 5% held in a marketing wallet to keep Big Eyes in the spotlight
They will have 200,000,000,000 tokens and aim for 70% of these tokens to be sold via a public presale, with another 20% for Exchanges. Their ambitions are to grow and make an ecosystem that self-propagates, which includes the acquisitions of other systems growing around them. Big aims and ambitions for sure, with lots of promises included. They have raised $11.91 million so far according to the website, with the presale still ongoing.
Media Hype & Certification
As part of the media hype, outlook wrote a piece on Ethereum, Ethereum Class and Big Eyes Coin where they stated:
Following the release of Big Eyes’ whitepaper earlier this year, the yet-to-be-launched coin has become one of the most influential meme tokens on the market. People are riled up to purchase the tokens due to the functionalities the project promises. The token stands out due to the choice to be represented by a cat mascot instead of the overused dog-themed mascot. Big Eyes is a decentralized platform that puts the interests of its community members first.
To me, as a non participant and purely an observer, I found this comical. They are hyping up the NFT collection and token based on the fact it is a cat, and not a dog! Yes of course these meme projects have gone far in the past and likely will again, but from the off reading works like "putting the interests of the community members first" is something I feel we have all heard before.
That being said, there is a certain level of optimism behind this project amongst the crypto community. Crypto experts are confident in the project and its creators, believing that Big Eyes is not a rug-pull project as it has been fully audited by Solidity Finance. This would of course add some legitimacy to the project, with so many rug pulls in the past to leave the entire crypto space fed up and weary of new projects entering the market.
NFTs & DeFi Integration
There are four stages mapped out in the RoadMap for the project, with stage 1 complete and currently the project is in stage 2. Its focus is on building up its reputation and followers, with the 25,000 mark surpassed on Telegram so far and the website live. Slow and steady progress, with the aim to launch snippets of the NFTs soon.
They also plan on launching their own swap, known as Big Eyes Swap, and will be creating bridges to other networks so users can simply move their tokens from one network to another. All good so far, and in many ways a push at taking on what the likes of SHIB have done. Whether or not you agree with what they have done is another matter altogether.
Once the NFTs come live they will allow users to interact in a social space known as The Big Eyes Sushi Crew, which will be a decentralized club on the platform where NFT holders can have fun, attend events, and win rewards. Along with these benefits, they developers also aim to entice users by having an incentive. This will mean that both creators and buyers of NFTs on the network are entitled to 5% of profits made from the sold projects, along with a dynamic tax system meaning users will not incur additional charges on their transactions.
Conclusion
Interesting project for those who enjoy the social aspects and meme side of things. However, I for one would not be rushing out to get involved, purely because I do not believe in meme projects. It could be a hit and climb into the top ten cryptos, it could be another crash and burn project. This is true of all projects before they are fully live, but at least with other projects users are aware of a fundamental technological basis and reasoning for the crypto project. With this, it seems very much cantered around the "cuteness" of a cat and its big eyes. However, that is what sells. People enjoy getting involved in the hype of these meme projects and getting in at the early pre sale stage, often in the aims and hopes of generating a wealth down the line or being the owner of the next BAYC.
Currently at the given price shown of 1 USDT for 3181.82 tokens, roughly the price of 1 token is 0.00031428553 USDT. As long as users are aware that they will be dealing with another SHIB style project and multiple decimal places if they acquire the tokens, that's important. Some people enjoy owning millions of coins as it makes them feel like they are millionaires, but that is of course a psychological trick to play on peoples emotions.
Another thing to note about this project, and while I am not trying to be critical, is they state they are trying to save the fish as part of their charitable efforts. I would love to know exactly how this will play out, as a charitable donation is not quite the same as hands on action and actually doing something. We will have to see what they do, but for now it seems the memes and publicity of a project with no fundamental basis other than being cute is at the forefront of matters.
I wont be investing, even though a part of me wonders if throwing 10 USDT for about 32 thousands tokens could end up making a bit of a return down the line? Probably it would as people love these kind of things, but for now I will be passing up this opportunity.
What do you think? Is Big Eyes Coin something you are interested in or would considered a worthwhile investment for the potential long-term growth? Will it disrut the monopoly created by Ethereum and "save" crptyo and NFT's as it claims? Let me know below and feel free to click that follow button for more interesting articles based on all things crypto and blockchain.
Have a great day.
Peace. CryptoGod-1.
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