You are viewing a single comment's thread from:
RE: PayPal Explores Launch of Own Stablecoin in Crypto Push - BNN Bloomberg
I wonder if "make your own coin" is going to continue to be the standard way for projects to explore crypto. When Kickstarter revealed they were planning to start using blockchain technology I assumed they were going to be launching their own coin, but they also talked about being based on the CELO protocol. Although they haven't revealed any details yet, I realized that CELO already has some algorithmic stablecoins and I now suspect KS's plan may not be to have their own coin but to just be a bundle of smart contracts with the existing CELO coins and stablecoins.
I wasn't aware of the Kickstarter plans, but everything I can find refers to their plan as a "protocol" not a "coin" or "token", so I think your suspicion might be right.
For many big companies, I guess the desire to have a token with your own unique brand is high, though. I think that was part of the logic behind SMTs, before that got derailed. I recently read an article about how the crypto.com coin (CRO) went up in value by more than the purchase price when crypto.com announced their purchase of naming rights for the arena where the LA Lakers play.