Is Energi (NRG) A Good Investment? In-depth Analysis and Near to Longer-Term Expectations
Is Energi (NRG) A Good Investment? In-depth Analysis and Near to Longer-Term Expectations

By CryptoBoomer | Investments | 31 Mar 2020


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Everybody in the crypto space knows the blockchain technology has significant potential to transform our financial industry. However, everybody also knows that the adoption rate for blockchain technology has been slow and not as fast as some people might have expected.

It doesn’t mean that blockchain won’t be adopted. They are going to be, just that the progress has been very slow. Tommy World Power, a crypto enthusiast since 2013, saw this problem and chose to turn it into his own opportunity. Yes, he created Energi, because he felt that other blockchain platforms had been too slow in getting adopted.

His mission? To bring Energi to the frontline of crypto and blockchain adoption. But, here’s the more important question for us crypto traders and investors. Is it worth it to invest in Energi’s native cryptocurrency (NRG)? Let’s find out together with this article!

Energi - Summary

Energi is one of the blockchain platforms that were created in 2017 to challenge the domination of Ethereum in the smart contract world. Just like many other newer blockchain projects that were created in 2017-2019, Energi also tried to do everything at the same time. It wants to be the all-in-one solution and brings blockchain adoption to a level that has never been seen before by the crypto community.

Energi official website claims that crypto adoption is less than 1% of the world population despite the fact that the technology is revolutionary. Energi believes it can help this adoption by creating a much better and more efficient blockchain platform than the likes of Bitcoin and Ethereum.

So, how are they going to do that? Well, Energi has its own selling points compared to other blockchain platforms. First of all, Energi uses the concept of Masternodes. Yes, Masternodes act to secure the network, and they also influence the price of NRG coin. 

Energi’s treasury funds are claimed to be more decentralized because the masternodes can vote what to do with the funds. Masternodes in the Energi ecosystem receives 40% of Energi’s inflation. To get a Masternode status, you have to hold 10,000 NRG coins. 

Secondly, Energi also believes in the concept of inflation. Yes, unlike major cryptocurrencies, Energi core team actually believes a high inflation rate is good because it encourages reinvestment as well as spending.

Energi wants the users not just to buy and HODL. Energi believes that crypto adoption can happen faster if the community is encouraged to spend their cryptocurrencies regularly. With the high inflation rate, Energi team expects that people can invest their coins appropriately in order to keep the economy moving in the Energi ecosystem.

And of course, just like most newer cryptocurrencies since 2017, Energi incentivizes its community through staking with high rewards. So, even though Energi has a high inflation rate, it also has a staking economy for people who believe in its future.

Another important point to note is that the Energi platform is 100% compatible with Ethereum-based decentralized applications (dApps). It is believed that Ethereum dApp developers can easily migrate their applications to Energi if they want to. This is possible because Energi smart contract capabilities were also adopted from Ethereum itself.

Analyzing Energi Team

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The main men behind the project - image source

When it comes to cryptocurrency investment, one of the most important things is to know who are the main faces behind that cryptocurrency. Why? Because when you invest in a cryptocurrency, you believe in its future. And who can help you to realize that future if not the core team of the same project itself?

So, how about the core team of Energi? Well, it’s important to know that the idea of Energi was first launched by a cryptocurrency influencer/youtuber Tommy World Power, who claims that he’s a crypto enthusiast since 2013. Tommy has always been a huge fan of crypto technology, and he has done a lot of researches on tokenomics, governance systems, different smart contract platforms, and all the other important aspects of the crypto space.

Tommy eventually funded the Energi project and launched it on April 14th, 2018. It was claimed that Tommy was the sole funder of this project. At the moment, he also acts as the Chief Executive Officer (CEO) and Chairman of Energi Core, the team behind Energi.

Of course, Tommy is not working alone on Energi. There’s also Ryan Lucchese, who acts as the President of Energi Core since April 2018. Besides his experience with the Energi team, Ryan is also the owner of Energi Software, LLC. Previously, Ryan was a Software Engineer for Hyland Software and C++ Engineer for NCH Software.

Next, we have Greg Buechler, who is the Vice President of People at Energi. He’s been with the team since May 2018. Apart from his time with Energi, he’s also a Senior Global Talent Acquisition Consultant for disruptive or sector-leading startups.

From his previous experience, you can see that Greg is quite experienced with recruiting people. He’s been a Recruiter at Flow Kana, Mesosphere, Sparkcentral, Daynine, and [24]7.ai.

And then, there’s Omer Haroon, who serves as the Senior Director of Operations at Energi. Prior to his time here, he’s also the IT Business Analyst at Pfizer as well as IT Solutions Consultant at GEP Worldwide. A few years ago (in 2015), he was the Analyst at Johnson & Johnson.

After Omer, we have Andrey, the Director of Technology at Energi. It looks like he doesn’t want to list his LinkedIn profile nor any other social media account. On Energi’s About Us page, it’s written that Andrey started his professional career as Lead Programmer in the Payment Card industry. Later on in his career, he switched to consulting for Startups in Operations and Software Development.

Next, there’s Emre Gonen, who is the Marketing Director at Energi. On his LinkedIn page, he claims that he used to be a cryptocurrency trader from May 2017 to April 2019 before eventually he joined the Energi team. Prior to his time with crypto trading, it looks like he was the Supply Chain Manager at Turkish Armed Forces. He was also the Manager at Men 3D LLC.

After Emre, there’s Parker, whose name is listed on the About Us page, but he doesn’t list his LinkedIn profile. It is claimed that Parker used to work in hospitality in Arizona before he decided to live in Bali, Thailand, and parts of Europe. With Energi, his status is the Director of Energi Impact.

Next, there’s Brock, the Director of Community Management. It’s said that he’s been working in the customer service department for over 20 years. His job is to manage the interactions between the core team members and the community of Energi across social media platforms.

And after Brock, we have Ashley Halladay, who is the Visual Design Lead at Energi since May 2019. He’s also the Co-Founder of Token News, a crypto blog that’s based in Praque, Czech Republic. Previously, Ashley was the Lead Designer at MyBit from October 2017 to December 2018 and a Designer at Delineo from July 2016 to September 2017.

Last but not least, there’s Ryan Perez, who serves as Business Development Specialist and Content Strategist at Energi. He’s also the Founder and CEO of RocketCube, a company that specializes in creating and executing business development strategies for blockchain companies such as NEO and Ontology. Interestingly, Ryan quit RocketCube in December 2019, the same month he joined Energi.

There are other names that I don’t mention here, but I think above individuals already represent the capabilities of Energi core team. I say they are quite decent, although some of them don’t look like they have a strong background. There are better altcoin teams out there compared to Energi.

Partnerships

Here’s where things don’t look that good for Energi. Unlike some other altcoins that often announce real partnerships, Energi just put all kinds of listing into their Our Partners page. For example, a simple NRG coin page on CoinMarketCap is considered a “partnership” by the Energi team. For many crypto supporters, this type of CoinMarketCap listing is definitely not a partnership. 

It’s also dangerous to list all kinds of simple token listing as partnerships because the crypto community can be quite negative and spread FUDs based on those reasons alone. For example, there were several altcoins that got criticized heavily on cryptocurrency subreddit just because they list “Amazon Web Services” as their partner even though everybody can actually pay for AWS. And yes, such a service doesn’t mean you actually partner with Amazon.

We can also say the same thing about token listing on CoinMarketCap. Just because they list your coin, it doesn’t mean you are actually partnering with them, as most coins and tokens are listed on CoinMarketCap, anyway. Regardless, here are the names that Energi list as their partners:

KuCoin, DigiFinex, CryptoBridge, coinomi, masternodes.online, CoinMarketCap, Blockfolio, NodeHost, Delta app, and Beam.works.

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These names are usually not considered partners with other altcoins - image source

From all the names above, you can see that most of them (if not all of them) are not literal partnerships. They are just listing NRG tokens on their website or exchange, but that’s about it. I say this doesn’t look good for Energi’s reputation.

Energi’s Future And Potential Roadblocks

Energi has the potential to get big and help crypto adoption, but I think they are approaching the crypto adoption problem with the wrong mindset. For example, Tommy World Power tweeted this back in August:

 

This tweet doesn’t look good because he bragged about being in the top 50 crypto rankings. When Energi's official homepage mentioned that crypto adoption is still less than 1% of the world population, obviously, they are talking about real adoption in the real world. 

To focus your efforts on top market cap rankings and see it as a form of “adoption” definitely won’t help crypto adoption. And by the way, Energi coin (NRG) is currently sitting at the 99th ranking, so they are slowly losing their ranking since that tweet.

Not only that, but their “partnership” section also looks like they are prioritizing token listing and media hype over real adoption with real companies or users in the real world. 

I also get the same “atmosphere” with their medium headlines that they put on the website’s homepage. From there, you can see that they care more about airdrop announcement or new exchange listing over real adoption that they claim is their main mission. 

In my opinion, Energi still has a long way to go before they can challenge Ethereum or other top smart contract platforms, as they still lack real adoption outside token listing and new exchange announcements.

External Factor And NRG Price

So, we have analyzed all the fundamentals that can affect NRG price. But, is it enough? Unfortunately, not. When it comes to altcoin prices, there’s one big external factor that can affect them. That external factor is called Bitcoin price action.

Yes, altcoin prices might go up when Bitcoin goes up, and they might go down when Bitcoin goes down. You have to watch Bitcoin price action closely if you decide to invest in NRG as they will be correlated one to another in the next few years, at least.

Social Stats

This is where Energi shines. The official Telegram channel actually has plenty of activities with over 17,000 members, and more than 1,000 of them could be online at the same time.

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The current stats for Energi's Telegram channel

Energi’s twitter account and reddit page also have plenty of activities, surpassing most other altcoins in the top 100 range. 

Conclusion

Energi is an interesting project with good marketing efforts (as proven by their Telegram, Twitter, and Reddit activities), but it feels like they lack real adoption that they claim as their main mission. In my opinion, there are better smart contract platforms out there with a better approach to adoption.

What do you guys think about Energi? Is it good to invest your money in NRG? Anyway, check my recently published articles:

Is HYDRO A Good Investment?

Is NANO A Good Investment?

Is Kucoin Shares A Good Investment?


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