Brand New SPORTS Token
SPORTS has been one of my very cherished tokens on the steem, now hive blockchain. It's cool to see SPORTS moved to hive, the people's blockchain. With over 8 million tokens staked for curation, I am still interested in investing in SPORTS having known the potential of the token linked to a crucial content category as sports.
With its collaboration with the #actifit community, @SPortstalksocial community seems to rank among the most widely utilized tribes of the hive chain. As far as I know, SPORTS on hive chain is as new as a brand a new token.
In the banner image, I decided to attach a screenshot of the total and circulating supplies of SPORTS token as well as the volume of the tokens staked and burnt. So far, percentage of staked tokens is less than 1% while the percentage of tokens burnt is far from attaining a significant value. Looking at these indices becomes very crucial for an investor as it relates with the possible price value of the token.
It is true that the demand placed on token is what affects the price. When demand grows over a constant supply, then token value would appreciate. This therefore places a need for creating more use cases for the token to make room for more demand.
I therefore use this medium to reach out to @Patrickulrich and the dev and marketing teams of the #Sportstalksocial community to look into what can be done to reduce the volume of SPORTS tokens in circulation.
I had been hosting a contest to encourage users to stake tokens while they receive tokens in upvotes as rewards. I intend to start again as well as my investment in SPORTS, however, I need to receive a statement of commitment from the lead team that our investment won't go down the drain.
I still hold to my vision of SPORTS token at $0.01. It is possible.
What do you think?