SafeMoon’s passionate fanbase will not allow it to fail in 2022

SafeMoon 2022

You’ve probably heard about SafeMoon if you’re acquainted with the crypto industry. The Utah-based startup is less than a year old, but it has amassed a sizable fan base, with millions of users owning SafeMoon tokens or coins.

Thousands of businesses have established their own cryptocurrencies since Bitcoin’s inception some years ago. SafeMoon is one of these hundreds, and their success has been attributed in part to their use of social media channels to attract millions of retail investors.

Some investors are drawn to SafeMoon because the business claims that the mechanism of purchasing and selling tokens will encourage the price of a token to rise over time. “There is a 10% charge on every purchase and sell transaction,” SafeMoon CEO John Karony says. “I refer to it as the great compromise between individuals who want to day trade and others like me who just want to put money into a cryptocurrency and then retain it.” What is the benefit for owning Bitcoin? It’s said that in a year or two, it’ll be worth more than it was previously. You now have extra SafeMoon after that year with SafeMoon. You don’t have more Bitcoins at the end of the year with Bitcoin.”

Some crypto specialists, on the other hand, are wary of SafeMoon’s methodology, which “burns” some tokens with each transaction, diminishing the available supply of the initial one quadrillion tokens. “In the world of supply and demand, there’s this game of chicken where if other people are selling, there’s less supply,” says Anthony Bertolino, VP of growth at iTrustCapital. “In theory, it incentivizes it to rise over time.” But this is a two-edged sword—at the end of the day, if no one wants to buy it because it does nothing and everyone wants to buy it because it goes up, it sounds like a Ponzi scheme based on blockchain. It’s an insanely intriguing experiment… But, most of the time, you don’t design a coin simply because it’s great; you develop a coin because you’re planning to construct a worldwide bank that would enable people to deposit and borrow money.”

What The Professionals Say About SafeMoon

SafeMoon analysts have noted that the company’s token has changed quite a bit since its introduction earlier this year, hitting a high market capitalization of $5.7 billion in May and now with a market cap of just under $1 billion, still an amazing number.

Karony has heard similar SafeMoon criticisms previously and responds that the firm has goods in the pipeline. “People want to concentrate on the token, but SafeMoon is a tech firm, a blockchain innovation company,” he explains. “We just introduced a really successful wallet.” We were at the top of the charts within three months, and we still are.”

According to Karony, SafeMoon’s vision involves developing a macro Internet of Things architecture on a SafeMoon-created blockchain, as well as a central exchange. Karony adds that after SafeMoon’s blockchain is out, the business will expand into other sectors. “We’re inventing in several domains, with bitcoin and blockchain technology serving as the metaphorical railway track and the various products we develop on top of it serving as the train carts,” he says.

On January 1st, 2022, SafeMoon will open its 9,000-square-foot headquarters in Pleasant Grove, and one of the first items the firm is working on—wind turbines—emphasizes the scope of the company’s objectives. “We have a patented nanotechnology that we put to [wind turbines], nanoparticles that produce a hydrophilic and hydrophobic coating on top of the wind turbines to boost efficiency,” Karony explains. “We’re installing a wind turbine worth around a megawatt and linking it into the rest of our ecosystem.”

Social Media’s Impact On SafeMoon

Karony claims that this is only the beginning, and his #safemoonarmy followers on Twitter is rabid. However, it may be too early to predict success. “We’ve seen hundreds of these sorts of promising crypto businesses; that’s not the problem.” However, they seldom provide anything distinctive enough to be significant, and many of them never deliver a product or service that materializes,” adds Hamiz Awan, founder and partner of Plutus21 Capital, a blockchain investment company.

“SafeMoon, from what I can see, there isn’t much of a difference… I’m not saying SafeMoon won’t make it; I’m just saying we’ve seen hundreds of these names before. They promise the world and capture people’s attention, but it doesn’t actually indicate that whatever platform they’re developing will ever be delivered; and second, if it is provided, will be unique enough.”

But maybe that fervent fandom will be exactly what propels it to success. Karony, his leadership team, and the 2.9 million SafeMoon holders say that SafeMoon’s rapid development cycle, as well as the leadership team’s close relationship to SafeMoon holders, distinguishes the firm from others. “A lot of other IT firms don’t provide the same amount of access to the CEO and decision-makers as SafeMoon offers, and it’s been really advantageous to us,” Karony adds. “It’s been useful to our development cycles and to our teams inside the organization, where I don’t have to guess, the leadership doesn’t have to assume—we can simply ask.”

The Verdict

That link to the SafeMoon community will assist Karony and the rest of the leadership team in carrying out the mission mentioned above, which Karony feels is more important than money for the firm.

Karony intends to carry out that purpose in Utah, with plans to recruit locals. “There’s a lot of tech skill here,” he adds of the state. “It’s a fantastic environment to work in, a fantastic environment to develop in, and a fantastic environment to live in.” So I’m quite enthusiastic to develop our presence there.”

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Francesca Castillo