This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin by focusing on evaluating instead of predicting.
It's a gamified micro-task platform, meaning people get rewarded for creating, completing or otherwise mangaging tasks. Tasks can be anything from 'sign up for Netflix' to 'research this algorithm' or even one day 'pick up my laundry', just like Task Rabbit. Imagine sitting on the bus on the way to work and instead of jamming out to music and flipping through Facebook all unproductively, you spend that half hour earning tokens by starting on or creating new tasks. Think gig economy in a tokenized world.
There are three products: Storm Play, Storm Shop and Storm Gigs. Storm Play is already avaiable on the Google Play appstore, while the other two products are in the works.
Super marketing video
Partnerships
You can store $STORM tokens in your ETH wallet.
CMC says ~2.4b circulating with a total supply of 10m.
Lit from top to bottom, full executive team and tons of developers and business professionals.
Also, their advisors are some big names: founder of Bittrex, Jaxx, co-founder of Bancor and a few other well known folks in crypto and finance.
What motivates them?
Unclear what the pre-allocation of tokens is for the team, but according to the explorer, looks like there's ~54% tokens in one wallet, likely used for the team and incentivizing new users and businesses. Feel free to clarify!
Reference:
https://etherscan.io/token/0xd0a4b8946cb52f0661273bfbc6fd0e0c75fc6433#balances
~118m cap with ~1m volume.
Most of the competitors are not tokens, but actual businesses. This is a plus.
One can actually see this product working out and it's a niche that can be easily filled with solid execution.
Pros
Cons
Less ads, more practical uses on the platform. Nobody wants to sign up for new services all day for coins and while that might work as a first step, we need the other products to come to life and actually fulfill the vision of a task rabbit-like, social platform.
Currently Coinnest and HitBTC have most of the volume, but we wouldn't be surprised to see this one listed on Bittrex one day (see advisors)...
https://coinmarketcap.com/currencies/storm/#markets
Based on the FA, STORM looks like a low to medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 500 sats would be bargain or around 10 - 12 cents would be an upper entry while still expecting solid, crypto-style gains.
And that's your scoop!
You can also catch updates from us on InvestFeed (Twitter+Facebook for Crypto nerds):
https://www.investfeed.com/thescoop
