RE: Choon: NOTES Unlock And Valuation
Very well said however it is written from a very optimistic viewpoint.
I think Choon could have been more clear about what they actually meant by "unlocking". It inferred that you would be able to sell them and they didn't really explain it. I know a lot of musicians thought this and many are not up the their waists in crypto so don't really understand much about how to trade tokens.
It just feels like all the wind has been blown out of Choon's sails at the moment and although NOTES will undoubtedly be worth more in the future that is only the case if the platform survives. I wonder how much of the original funding they have left and whether they plan another round any time soon?
I do feel for them as it's a great platform but the market downturn has really had a negative affect as we can see from the Steemit layoffs recently.
Let's just hope they can make it through to the new year and the market starts to recover as it would be a huge loss if they closed up shop.
Well they are certainly not closing down. As opposed to most other blockchain+music companies, they are primarily a music platform company more than a crypto business. They cancelled their ICO and don't seem to agree with all the crypto mumbo jumbo that happens to be the industry standard for crypto projects. They are building a music service that happens to be fueled by blockchain technology because it makes sense.
As for wind blowing out of sails, that seems to be the case with all of crypto at the moment. And seeing how they are a music platform company more than a crypto business, I don't think anyone should be worried about platform survival at all yet. They also didn't even plan on getting any revenues before next year according to the WP either. (paid streaming packages, and advertising)
That's good to hear if it's true; do you have details of their investment & burn rate?
Yes I agree about all crypto projects having the wind blow out of their sales however if they are primarily a music business then the correlation to the decline in crypto should not affect them that much surely? I would have expected increased marketing and momentum as a fledgling platform that needs to build brand awareness rather than the radio silence that seems to have descended. I haven't seen any mention of media coverage for months. The early enthusiasm just seems to have waned and communication has dropped off too.
As I said I love the idea where's all the excitement gone?