Business

Why Nollycoin Stands out as A Winning ICO Project That Will Provide Long Term Value by Ope Banwo

Published

7 years ago

March 30, 2018

This article discusses how to cut through the ICO Crowdsale hype and how to purchase real ICOs of value in the fledgling crypto revolution.

In a world driven by hype and FOMO [Fear Of Missing Out], it is becoming clearer every day that a diligent crypto enthusiast needs to have a litmus test for picking a token to support in a world where genuine viable projects are hard to find and good projects with long term prospects are even harder to distinguish from money grabbing ‘shitcoins’.

With the recent developments where most new cryptos are hitting record lows, and new ICO Projects not living up to their hypes after the Crowdsale , it is now common for disappointed ‘investors’ to go around blaming the ICO promoters on Social Media, rather than blame themselves for not doing the proper due diligence to pick a most probable post-crowdsale winner before purchasing a token during its ICO.

From my extensive observation, it appeared that most crypto buyers simply bought coins during an ICO based on the FOMO (Fear of Missing Out) created by the masters of the hype behind those coins. Many simply bought without understanding the post-ICO purpose of the coin, or what the token was supposed to do after the Crowdsale. When nothing happened after the ICO, as is often the case now for many ICOs, they would then jump on social media to scream bloody murder.

Recently, myself and my team just finished a tour of Africa and some parts of Usa to promote the Nollycoin ICO. We organized and sponsored different conferences, did live AMA (Ask Me Anything) press meetings, and held lots one-on-one meetings with Crypto whales, little investors, and crypto millionaire wannabes of every color.

Through it all, one thing that amazed me beyond all else was that MOST token holders had NO CLUE about the underlying business or project behind the token sales they participated in.

Even stranger in my observation, was the Amazing fact that many could not tell you the value proposition of the project, its objectives or the plan of the company to disrupt the marketplace and grab a chunk of the buyers in their industry. They simply bought the ICO because several telegram or Facebook Pages they visited kept telling them to ‘Buy. Hodl and buy more’. Most simply acted on herd instinct rather than objective deliberation.

Now, if most of the people I met were just teenagers or people without education, I would not have been so surprised at the level of ignorance of many of the crypto ‘investors’ I met. On the contrary, many of those I met were college graduates and people of some means. Yet less than 10% of them could readily articulate why they bought a coin in expectation that it would increase in value over time. Everywhere I went, very few in the crowd could tell me the name, experience and capability of the corporate managers of the company selling the coins.

The only thing most of them could point out was that the coins were recommended by ‘respected’ influencers when facts have proved that most of them were paid chills to create FOMO and respectability for otherwise useless shitcoins.

Beyond the so-called bogus influencers, all many crypto buyers knew was that the names of the team leaders were Russian, Chinese or Korean though they knew absolutely nothing about them. It was as if all you needed to have a successful ICO was to list names of people from Korea or China or Russia that no one could even verify with a simple google search.

While I agree there are certainly many things to consider deciding whether the tokens of a project would increase in value over time, I think the acid test, and the most immediate evaluation criteria, should be the utility of the coin itself outside of what would happen in the crypto exchanges.

Though most crypto token owners I met didn’t even know it, the reality is that if you bought a token from most ICOs, you were not really ‘investing’ in that company. You would not be buying shares of the company and you were not buying any security from the company.

And at best, what you were doing when you bought tokens during most ICOs was ‘donating’ to a project in exchange to being given a utility token or coin that legally had no real value beyond the business ecosystem controlled by the issuing company.

In order words, apart from your hope that the price of the tokens would ‘moon’ or rise to make you a millionaire, there is not much else you could do with the token other than enjoying the utility attached to it by the ICO company, if any.

Since no one could really predict for sure how a Crypto would perform on a crypto exchange when it finally got there, and most recent experience have shown that the prices of most tokens would most likely nose dive in the first few weeks of hitting an exchange (due to large sell offs by speculators ), it would make some sense for you to look at what other value or utility you could derive from your token, beyond the expected ‘mooning’ on the exchange.

As the crypto revolution continued to rev, morph and adapt to different developments in the market place, the only way to ensure your money is not being thrown into the gutter is to be sure that you could still use those tokens to get excellent value and benefits even if you could sell it for profits immediately on an exchange.

In making this determination you must ask yourself this primary question: What is value, product or service that the company selling the token with generate that will give me enough value for my cash to make this purchase worth my while?

In a world of crashing prices of tokens at different exchanges, the more opportunities you have to derive real life utilization with a token outside of the expected listing on the crypto exchange, the better the chances that you would not end up being frustrated or stranded with tokens that are useless to you.

So, you must ask over and over: IF this coin never traded on an exchange, would I still be happy that I supported the vision? If this token lost 70% of its value on an exchange, can I still use it and get value for my money elsewhere with it?

If you could not answer these questions positively after reviewing the WHITEPAPER and investing the claims of the company, then you should think twice before buying that coin.

Take a current ICO like Nollycoin which is the token powering a Blockchain enabled movie distribution ecosystem. The promoters of the coin have created different utility scenarios for buyers of the coin to ensure that no matter what happens to Nollycoin on the crypto exchange, their backers and token hodlers will keep smiling.

Some of the great utility attached to the Nollycoin token in the Nollytainment ecosystem include
• Ability to use Nollycoin tokens to watch exclusive movies at the cinemas and movie houses
• Ability to use the Nollycoin tokens to access 1,000s of movies on their Netflix-on-steroids blockchain Movie distribution.
• Ability to use Nollycoin tokens to purchase products and services at the NollyMall which is like an Amazon platform for entertainment-based products.
• Ability to use the Nollycoin tokens to pay for school fees at the NOLLY Academy platform and partner companies

As you can see, beyond the normal expectation that the tokens may be listed on a crypto exchange platform, you can use the Nollycoins right now to get tremendous value for ‘investing’ in the vision of Nollytainment by supporting their project. For more on information on Nollycoins and its amazing utility for purchases go to ico.Nollycoin.com.

Dr Ope Banwo is the Founder/Ceo of Nollytainment Inc, promoters of the Nollycoin ICO, he is a crypto enthusiast, author and trainer

Related Topics:coverstory nollycoin Ope banwo

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Business

Oil marketers counter Dangote

Published

7 hours ago

November 5, 2024

Sahara Weekly

Oil marketers counter Dangote over allegation of substandard product importation

The Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has countered the claim by Dangote Refinery that any oil importers landing petrol at a price cheaper than what the refinery is selling are importing substandard products and conniving with international traders to dump low quality products into Nigeria.

The refinery had made the claim on Sunday.

In a statement yesterday, DAPPMAN’s Executive Secretary, Olufemi Adewole, said none of its members was engaging in activities that could shortchange Nigerian fuel users by conniving with anyone to bring in low quality product into the country.

“We’ve said this for the umpteenth time, and it bears repeating, those in the downstream sector business of petroleum products trade are patriotic Nigerians who will not shortchange Nigerian citizens for filthy lucre. Our members are in this business to add value to the businesses of their fellow Nigerians and not to defraud them.

“Prices of products in the international market are dynamic as they’re dictated by prevailing circumstances at every given situation. We calculate our landing costs based on the dynamics of market forces, and the templates are always in the public domain. To claim that if the landing cost of imported product happens to be lower than that of the refinery indicates importation of low quality product is not only preposterous, but also fallacious. In any case, the management of the refinery has, until now, kept its cost and prices close to its chest and put it away from public scrutiny. “

“This type of submission, targeted at projecting our members negatively before the public, cannot help the management’s desire to have oil marketers patronise its products. What will ensure such patronage is transparency, fair play, and readiness to compete with others, including foreign refineries, on an even keel and on a level playing field.”

Adewole said the disclosure by the refinery’s management that the facility has a huge stock of 500 million litres fuel reserve came to its members as news.

“We were surprised because we believe that if the refinery has such huge stock, it’s the marketers that should be put in the know first.

‘Secondly, it was even more surprising given that the news came about the time the refinery was working on rationing what each marketer could pick from the refinery. If they had such huge stock, how is it then that they’re rationing what marketers could buy?

“On all these developments in the industry, the position of our members is very clear: we’ve always played by the rules, and we’ll continue to play by the rules. We’ll not be tired of advocating for a level playing field and a highly competitive and transparent sector that’s devoid of arm twisting and devoid of any form of dominant tendencies,” he said.

Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said it had concluded plans to import the best quality petroleum product and sell at far cheaper prices.

The association said it was awaiting the NMDPRA to grant it import licence, saying it “has successfully incorporated a strategic business unit called PETROL.”

Its spokesman, Joseph Obele, said PETROAN had concluded plans with her foreign refinery counterparts and financial partners to import the best quality of PMS and “then sell far less than the present selling rate of PMS in Nigeria.”

He said the allegations that PETROAN would import inferior products and that an international company was trying to establish a PMS blending plant in Lagos “are all strategies for Dangote Refinery to push others out of the market…”

Also, Pinnacle Oil and Gas Limited, in a statement by its Chief Executive Officer, Bob Dickerman, denied blending substandard petroleum products.

Business

Why Protesters demanded Kyari’s resignation

Published

8 hours ago

November 5, 2024

Sahara Weekly

Why Protesters demanded Kyari’s resignation

Scores of youths stormed the headquarters of the Nigerian National Petroleum Company Limited on Monday, demanding the immediate resignation of the Group Chief Executive Officer of the company, Mele Kyari.

The protesters, led by some Civil Society Organisations, described Kyari’s leadership as incompetent, citing skyrocketing fuel prices, endless fuel queues, and economic hardship in Nigeria.

The protesters carrying placards with different inscriptions such as “we demand the immediate resignation of Kyari”, among others, said the leadership of the NNPCL boss has failed.

The aggrieved youths led by Abdullahi Bilal of the (Two Million Man March Against Oil Scam Cabal) and Barrister Napoleon Otache and Olayemi Isaac from Citizens and Economic Freedom Rights Activists in Nigeria demanded immediate action to address what they described as failed leadership in managing the country’s oil sector.

Central to the protests were grievances over skyrocketing fuel prices and the never-ending queues, which they argued have driven inflation and plunged millions of Nigerians into poverty.

They also decried the importation of adulterated fuel, which they said is a corrupt practice that harms citizens by damaging vehicles and businesses.

They demanded an immediate halt to these imports and accountability for those responsible, questioning how substandard fuel continues to enter the country despite quality control assurances.

Additionally, the group criticized the unfulfilled promise of the Dangote refinery to resolve Nigeria’s fuel crisis, expressing frustration over the billions of dollars spent on refinery development and refurbishing existing facilities.

They argued that despite these investments, fuel shortages persist, leaving Nigeria reliant on costly imports even as an oil-producing nation.

They urged President Bola Tinubu to intervene by overhauling leadership in the oil sector, enforcing greater accountability, and putting citizens’ needs first. The protesters vowed to continue mobilizing until their demands for reform and transparency are met.

Speaking to journalists during the mass demonstration, Abdullahi Bilal said, “The Two Million Man March stands as a united voice for every citizen who has been betrayed by a system that continues to enrich a few at the expense of many.

“Today, we call for the immediate resignation of the current leadership in the country’s oil sector. Their management has failed Nigerians.

“Under their watch, we have seen fuel prices skyrocket without consultation or consideration of the devastating impact on the people. We have endured fuel scarcity while substandard, adulterated fuel is imported, causing further hardship.

“We demand the complete removal of the fraudulent fuel subsidy regime that has only served to enrich a select few. Full deregulation is necessary to introduce transparency, competition, and fairness to our oil sector.”

On their part, Otache and Isaac, insisted, “This act of economic sabotage has led to endless fuel queues, skyrocketing fuel prices, and unprecedented disruptions in the daily lives of Nigerians.

“We demand an immediate end to fuel queues, transparency, and accountability from all involved parties. We want to know how substandard fuel continues to enter the country despite assurances of quality control.”

On July 7, 2019, former President Mohammadu Buhari appointed Kyari as the 19th GMD of NNPC, but with the passage of the Petroleum Industry Act, his current portfolio is without recourse to previous employment ranks in the company.

NNPCL reacts

Reacting, the NNPCL spokesperson, Femi Soneye, said the protestors lack understanding of the sector.

He explained that contrary to their agitation, the GCEO ensured Nigerians had access to fuel at N620 per litre for over a year, even when the landing cost was above N1,100.

Responding via a chat, Soneye said, “Unfortunately, they lack understanding of the sector. If they were informed, they would know that the GCEO is not responsible for the fuel price increase; in fact, he ensured Nigerians had access to fuel at N620 per litre for over a year, even when the landing cost was above N1,100.”

Business

Renewed Hope Agenda and Impacts in Aviation* By Mary Odoma

Published

9 hours ago

November 5, 2024

Sahara Weekly

Renewed Hope Agenda and Impacts in Aviation

By Mary Odoma

President Bola Tinubu’s knack for selecting top talent is unparalleled. In his quest to build a prosperous Nigeria, he’s assembled an exceptional team. By leveraging their expertise, experience, and strategic insight, he’s fostering national stability, economic growth, and a sustainable future.

His latest win is in Aviation and Aerospace Development, where he’s appointed a fearless and straightforward leader, Festus Keyamo, SAN. Keyamo’s commitment to excellence makes him an ideal fit. President Tinubu’s vision for Nigeria is taking shape, and his leadership choices are truly commendable.

A dedicated, charismatic and impactful lawyer, the dynamic and astute developer is a terror to mischief makers and enemies of progress. A tough and forceful personality who is determined with an ultimate goal to change Nigeria.

Appointed on 21st August 2023 as the helmsman of the Ministry, Keyamo has been unwavering in his drive for positive transformation, reforming the sector and bringing about enduring positive impact in a transparent manner.

His Ministry has the core mandate of regulating air travel and aviation services in the country. It is also responsible for overseeing air transportation, air development, maintenance, provision of aviation infrastructural services and other needs.

A very patriotic Nigerian, Chief Festus has several achievements, in line with the Renewed Hope Aviation Roadmap approved by President Tinubu to his credit.

In a steadfast commitment towards revitalizing the nation’s aviation sector, Mr Keyamo was able to ensure the approval of the concession of the Nnamdi Azikiwe International Airport (NAIA), Abuja and Mallam Aminu Kano International Airport (MAKIA), Kano Airports. This is in line with the initiation of the Nigerian Airport Concession Strategy.

Also, in line with the Federal Ministry of Aviation Roadmap, Chief Keyamo initiated the signing of an MoU with the Nile University for the take-off of African Aviation and Aerospace University (AU). This milestone achievement of the Minister aims to integrate and create an avenue for the training, research and development of ready middle-class manpower for the sector.

Equally, under his watch, the pragmatic leader led the Ministry into partnership with the ICRC and also a collaboration with the IFC on infrastructural development. This partnership is to both develop and implement a comprehensive and durable framework that will meet the infrastructural needs of the sector over a long period.

Through Keyamo’s congruence and dynamism, the BASA arrangement is another revolutionary innovation aimed at ensuring the operationalization of direct flights between Nigeria and Brazil.

Keyamo’s motivation and altruistic devotion to having a functional aviation and aerospace sector also moved him to upgrade the Muhammadu Buhari, Airport, Maiduguri to the standard of an international airport. This airport is ready to commence full operation on January 1, 2025

In the area of staff motivation, retirees of the Ministry now have no cause for alarm as their interest is covered. Recently, the Ministry honoured 24 retirees drawn from the lowest rung to the highest. It is in a bid to acknowledge those who have contributed immensely to the growth and development of the sector as Nation-builders.

His prompt response to issues including distress reveals an empathetic personality and someone who is very much alive to his responsibilities. Recently, while reacting to the accident involving a helicopter on the 24th October 2024, Mr Keyamo, immediately upon receiving the distress call, activated protocols aimed at search and rescue operations, mandating all relevant bodies to do everything humanly possible to ensure the safety of the passengers on board the ill-fated vehicle.

The Minister was also actively involved with all the relevant agencies towards ensuring a coordinated response. His active and physical involvement led to the minimization of casualties.

In a show of collaboration and solidarity, the Hon. Minister travelled to far away Marrakesh, Morrocco, to give support to the 2024 International Transport Workers’ Federation (ITF) congress. His presence was to underpin the importance the federal government attaches to the role of the transport workers in stabilizing the aviation sector.

Festus Keyamo as the Honourable Minister of Aviation and Aerospace Development is certainly the best thing that has happened to the industry. He has exhibited passion, dedication and selfless forthrightness in the discharge of his duties and a total comprehension of what it takes to carry out his roles. He is well-groomed for the job and his background has helped him greatly towards shaping the positive impact he is making on society.

Today, Festus has proved that a faithful, disciplined, and dedicated Nigerian can stand out of the crowd because he symbolizes what governance is all about. These feats can only be achieved by a man with the right comportment and conduct in the service of humanity and the fatherland.

Deserving of note is that Chief Keyamo, through the foresight of President Tinubu has well-prepared team leaders appointed as heads of the agencies of the Ministry.

The supportive and collaborative roles of the Nigeria College of Aviation Technology, Nigeria Metrological Agency, Nigeria Civil Aviation Authority, Nigeria Airspace Management, the Federal Airports Authority of Nigeria, and the Nigeria Safety Investigation Bureau (NSIB), have brought about those tangible and noticeable volte-face experienced today in the Aviation sector.

With Keyamo at the helm, Nigeria’s aviation sector is experiencing a transformative shift, thanks to President Tinubu’s foresight in appointing well-prepared team leaders. The Nigeria College of Aviation Technology, Nigeria Metrological Agency, and others are working together to bring about tangible change. Keyamo’s dedication, discipline, and commitment to service have improved Nigeria’s image and reformed the aviation and aerospace sectors.

Odoma is the President of New Nigeria Network [NNN[ writing from Abuja.