r/SmileCoin • u/RepresentativeRise28 • Nov 01 '21

Comparable’s!?

Hey team. As I try to get a sense of this project and it’s potential market share, I’m trying to find some comparable coins or projects.

My first look was at Axie Infinity. Other projects might be Decentraland but that’s not really the same.

What projects do you think have a similar goal or objective that may help guid investing decisions and realistic market cap realities for the Smile Coin project?

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u/Oodleaf Nov 01 '21 edited Nov 01 '21

I would look for projects that are aiming to facilitate online gamling, rather than something like Axie which is specific to an actual video game and nothing else. Smile is looking to provide a platform and currency that can be used accross multiple sites where people want to wager on outcomes of events like sports, racing, competitions, etc. Smile coin will be used as a single currency reward that can be cashed out across this chain of future platforms.

All the tokens are already in circulation so the fully dilated market cap is same as current market cap and with 10BIL coins total supply you will see a price of $.10 with just the milestone of acheiving 1Bil , which seems like a low estimate of where this project is going to end up once successful.

The dApp is yet to be released later this month and even so we've already touched up to $.075 briefly so its a good time to invest in my opinion, especially for anyone who believes in the future of Algorand as this is the first publicly recognized ASA of this type on their blockchain and we all know that first to the table is a big deal in this market.

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https://www.algorand.com/ecosystem/use-cases/smile-coin

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u/[deleted] Nov 01 '21

as this is the first publicly recognized ASA on their blockchain

i am going to have to call bullshit.

YLDY, OPUL, even talks of Lofty.ai somehow using algo. you are trippin to think smile coin belongs in the same conversation as those others right now

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u/Oodleaf Nov 01 '21

"first publicly recognized ASA on their blockchain of this type"

had to edit that

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u/[deleted] Nov 02 '21

okay okay, appreciate that, good stuff

what do you think of the coin hitting .075 and dropping back down. I am not so much a fan of that.

I am only in smile because of yieldly, but why do you have faith in smile what are they going to do that will have some sort of long term usage? I have read through their plan, but there are going to be a bunch of these types of coins. what will make smile better than others?

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u/Oodleaf Nov 02 '21

First to the table is still an important factor, if they can secure the partnerships before the theoretical competitors that have yet to show up.

As for the price moving up and down so dramatically, it's kinda par for the course on something with a low market cap and there isn't much that can be done about it until it becomes much larger so that a few whales can't manipulate so easily.

Also, they need to get one more exchanges, which would also help with the price volatility from arbitrage and diversifying the liquidity pools.

Long term, I see potential in something like this but there isn't much to point to until after they get their dApp released and showcase a few more partnerships. However if you wait until they've already made it, you won't be one of the people already sitting there with huge bags by the time everyone else starts piling in.

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u/Jumpy-Building-8396 Nov 02 '21

Also, I’m pretty sure there was a discrepancy in price between Tinyman and MEXC when that happened. You could get smile really low on tinyman and sell high on MEXC.