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Unlocking Blockchain’s True Potential With Initial Asset Offerings

A new trend is becoming more apparent in the world of cryptocurrency and blockchain technology. Although initial coin offerings are still the go-to method of raising additional funding, it seems Initial Asset Offerings are also worth keeping an eye on. These projects are slightly different, as they primarily fund products and services.

The IAO Concept Explained

An initial coin offering can be used to fund any type of blockchain project or venture. In most cases, such companies are essentially creating securities, which can cause a lot of legal problems. Moreover, the ICO model doesn’t fit every project. This is especially true when it comes to managing in-game items, collectibles, and so forth.

The Rise of Digital Assets

Over the past few months, there has been a growing focus on digital assets, especially those issued on a blockchain. Various trading card games are embracing this model as of right now, and it seems to be only a matter of time until this affects the way in which funds are raised for such projects.

Initial Asset Offerings can make a big change in this regard. They are designed to allow for the sale of currencies which can be linked to any blockchain project, but these currencies have actual use cases. Since each currency will be used in-game and sold on in-game marketplaces, it serves a purpose. This allows developers to shift their focus to the assets they are trying to bring to the world.

These IAOs target companies that want to offer a working product or service, rather than create hype for a new cryptocurrency. War of Crypto is the first project to embrace the IAO, which was conducted using the ERC-1155 standard. The firm offered exclusive access to in-game assets for investors, rather than only selling a new digital token.

The Road Ahead

With the interest in blockchain collectibles on the rise, new standards will need to be created. The ERC-1155 Initial Asset Offering option is well worth exploring for all kinds of companies. This concept transcends purely tradeable items, as they can only represent digital assets which are backed up by tangible items. ERC-1155 collectibles are free to create, and they can be extracted once the item in question is destroyed.

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Bitcoin Price Watch: BTC/USD Buyers Losing Grip Below $6,500?

Key Points Bitcoin price is still struggling to clear the key $6,520 resistance zone against the US Dollar. There is an important bullish trend line in place with support at $6,430 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of a bearish reaction towards the $6,400 or $6,340 support levels. Bitcoin price is slowly moving into a bearish zone below $6,480 against the US Dollar. BTC/USD could extend the current dip towards $6,340 if buyers lose control. Bitcoin Price Analysis There was an increase in selling pressure noted below the $6,500 and $6,480 levels in bitcoin price against the US Dollar. The BTC/USD pair struggled continuously to break the $6,500 and $6,520 resistance levels. As a result, there was a slight bearish reaction and the price declined below the $6,450 level. It seems like the price failed to settle above the 23.6% Fib retracement level of the previous decline from the $6,828 high to $6,350 swing low. More importantly, there is a contracting range forming with support at $6,430 and resistance near $6,490. Additionally, there is a crucial bullish trend line in place with support at $6,430 on the hourly chart of the BTC/USD pair. Therefore, if the price breaks the trend line support and $6,410, it could drop towards the $6,380 level and the 100 hourly simple moving average. Below the 100 hourly SMA, the next key support is at $6,280 (the previous resistance). On the flip side, a break above the $6,500 and $6,520 resistance levels could push the price towards $6,590. Looking at the chart, bitcoin price may continue to trade in a tight range before it either climbs above $6,500 or breaks the $6,430 support in the near term. Looking at the technical indicators: Hourly MACD – The MACD for BTC/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI has moved below the 30 level. Major Support Level – $6,400 Major Resistance Level – $6,500 The post Bitcoin Price Watch: BTC/USD Buyers Losing Grip Below $6,500? appeared first on NewsBTC.

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