In this crazy world of cryptocurrency the way investors approach the market has dramatically changed over time. Just three years ago using the words ‘investing’ and ‘cryptocurrency’ together would have been pretty disingenuous. People were just throwing money at anything with a bit of hype and watching their profits climb.
2017 in crypto was a wild year. The ICO boom, as it’s called. Boat loads of money was made from a lot of arguably poor investment decisions, at least in the traditional sense. When you think about traditional financial markets, a large amount of due diligence and fundamental analysis is required to succeed as an investor. In 2017 in crypto this couldn’t have been further from the truth, because most projects shot up like rockets. It really was like shooting fish in a barrel. Every investor felt like a genius.
As many predicted, this hysteria couldn’t last. Since the end of 2017 the smoke has cleared and the market has been maturing. Things have changed. A lot. You can no longer throw money at anything and hope that it works. You have to take a lot more care as an investor nowadays. Nothing is guaranteed.
Crypto is changing
It’s not 2017 anymore. There aren’t limitless profiting opportunities. Things have changed. This also means that crypto projects have to operate differently if they want to survive and be successful.
There are loads of company characteristics one can look for. A strong product is imperative. It needs to be functional and highly competitive. Alongside this is the go-to market strategy.
It’s no secret that blockchain is a powerful technology, but it’s also fairly limited at present. Onboarding is painful and there are so many quirks it makes your head spin. There needs to be a solid, realistic strategy in place that’s able to combine with a seamless product to build a user base that will drive demand.
One popular way to achieve this is to build partnerships and leverage pre-existing communities. In doing so, crypto projects are able to tap into existing resources and get the word out about their product a lot quicker. It’s faster to tell one audience of 500,000 one time, rather than tell 500,000 people individually about what you’re up to. It also holds weight for an outsider to see a company they respect doing business with a new partner, as opposed to hearing about a new business without a vouch.
IQONIQ is building real, powerful partnerships
IQONIQ is a sports and entertainment ecosystem where fans can follow their favourite sports clubs and idols, track all updates, be rewarded for their contributions and become part of a growing community. It was created to build an ecosystem that rewards fans for being fans and to drive a deeper connection between the fans, idols and clubs. To achieve this IQONIQ are using blockchain technology and their token IQQ wherever it will add value. IQONIQ looks at blockchain differently, and sees it as one of the technologies which they will use in the app to improve user experience.
A different approach
IQONIQ built their platform by taking a completely different path to most existing crypto projects. They spent their own money to fund development and have developed strong partnerships and alliances with some of the largest players in their target market. In doing so they have been able to achieve their goal of creating a strong business model and proposition before unleashing their IQQ tokens to the public – a refreshing change in the crypto space.
As part of their go to market strategy IQONIQ are securing a number of big partnerships, which they are aiming to use to grow their user base and increase the reach and impact of IQQ.
Football is the largest sport in the world and football fans are spread out all over the globe. Therefore, it only makes sense to enter this sport with a purpose and start getting the IQONIQ brand out there. To do so they have partnered with two of the most storied teams in European football, Olympique de Marseille and AS Monaco, both of which are based in France. These clubs can start to interact and engage with their fans using IQONIQ in new, more meaningful ways.
Moving into Basketball, another hugely popular sport, IQONIQ has partnered with two large European basketball competitions, the Turkish Airlines EuroLeague Basketball and 7Days EuroCup Basketball, both of which bring a large number of well established basketball teams into the mix. FC Bayern Munich Basketball, FC Barcelona Basketball and Real Madrid Basketball to name just a few. The 2 leagues together consist of 42 clubs which are based in 19 European countries and have a reach of around 200 million fans.
At the end of April IQONIQ also announced their new partnership with the Drone Champions League, the recognised championship for professional drone racing teams. The league hosts eight international teams that compete around the world.
Onwards and upwards
For an application like IQONIQ, establishing yourself in the sports market as a key player is vital. By partnering with top clubs and leagues IQONIQ should be able to introduce their services to the most passionate sports fans.
Beyond these partnerships, IQONIQ says they are working on finalizing additional partnerships with more than 150 other premier organizations, teams and sports personalities. They are also working with potential partners to bring the highest quality content to their ecosystem.
While securing partnerships is by no means a guarantee of success, it helps cryptocurrency projects be distinguished from one another and presents a great opportunity for business growth. In IQONIQ’s case, sports partnerships provide valuable exposure to their brand and present co-marketing opportunities from which both sides of the partnership can benefit. IQONIQ can drive growth and the sports clubs can drive deeper connections with their fans and reward them with IQQ tokens. These partners are part of the sport and entertainment ecosystem, bringing all the sports and entertainment rights holders and their fans into one single place.
IQONIQ has distinguished itself from traditional cryptocurrency projects by having a different focus. Instead of generating hype to drive a huge payday, they have been focusing on building the business and securing clients and partners. The aim of this approach is to enable them to have the best product in the market.
Nothing ever guarantees success for a business, but these attributes certainly show a unique ambition to approach the blockchain space differently and create something beneficial for the sport and entertainment sector.
*Disclaimer – IQONIQ are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.