Zama and the lesson of the wolf and the sheep.
Rich is an OG Non-Fungible Token holder. He participated in the Zama content creation program on the first day and cashed out all Token on the day they were listed.
Here's Rich's perspective on the Zama incident, and hopefully, you guys will learn from it!
1. Evaluating the concept of a content creator and Non-Fungible Token OG holder program.
This is the brightest spot, and what Zama did best, according to Rich. They created a platform and a supportive community for the Zama team over 5 seasons.
The team was quite creative in creating an alternative playground for Kaito and offering generous rewards for OG Non-Fungible Token holder.
2. Auction and ICO Programs
In these bad market conditions, I would never proactively buy into any project launching an ICO because I know buying would result in a loss.
Many projects have contacted Rich and promised a 20-30% commission if users purchase Pre-Sale through his referral link, but he has refused them all.
Zama recently cut 5% of its commission for KOLs, so you can see that KOLs are quite active in Zama's Dutch auctions, partly thanks to their referral links.
A key unspoken rule in the financial market that newcomers need to understand is that nothing is given away for free unless there is a benefit behind it.
The more FOMO is created, the more attractive the opportunity seems to the retail team, and the more they buy. That's why you see Zama's FDV being inflated quite a bit before the auction.
Some articles exposing the truth about Zama's ICO Pre-Sale can be read here: x.com/0x_madara_/status/201866...…
3. Evaluation of Zama founder and Zama price chart
Personally, I quite like this founder, except for the ICO issue. He's very friendly and always answers community questions.
Regarding price movements, we need to wait for the chart to run for 1-2 weeks for the selling pressure to Dump before we can make any assessment.
As the chart $SENT showed last time, it went down slowly for exactly one week before being pushed up, so I think Zama will have a scam pump.
But the current market is more risky than promising. Only consider holding on if you're willing to take responsibility for your money or simply accept a free Airdrop from an OG Non-Fungible Token .
As for me, I already made my decision on the first day and don't care anymore. If there's an opportunity, I'll just quietly buy it 😁
twitter.com/RichardDang/status...