Factom held an AMA today with their Vice President of Sales, Jason Nadeau and their new CMO, Jay Smith which you can read here. Below are some of the more interesting tidbits that make me feel the Factoid (FCT) should be a top 20 token when compared to the tokens with higher market caps. And I’m not the only one who likes what they see with Factom; the cryptocurrency hedge fund, Multicoin Capital is also bullish.
The token for the Factom protocol that trades on the exchanges is the Factoid (FCT). You can burn FCT for Entry Credits (these are not transferable and are not traded on exchanges) which allow you to enter data into the Factom blockchain. It sounds simple, but is extremely powerful and you can read more about the two token system here. The more entries into the Factom Protocol, the more FCT should go up in value so we’re always curious about the number of entries we may see in the future.
Factom better scale their system fast to be able to handle all these entries! But are they going to have enough money to continue development?
Revenue generating clients?! How many other blockchains out there have revenue generating clients associated with them? But these are probably small clients, right?
Fortune 100 and 1000 clients? Amazing! But it’s just one or two, right? For context, Factom has been EXTREMELY QUIET and the antithesis of hype because they sign NDAs with their enterprise clients.
20 to 30 NDAs with Fortune 100 and 1000 clients? And some of these are now revenue generating as stated above? Incredible. But how are they getting these clients and how is their flagship product, Factom Harmony being received?
Instead of going to cryptcurrency conferences and hyping their tech to non-clients, they go to the trade shows for their verticals and target their demographics. Smart. And their flagship product is so user-friendly that they had to change it so it was more, “blockchainy”.
What else has been going on at Factom? Those of us invested in the Factoid (FCT) have heard so little.
I strongly recommend reading the entire AMA as there’s so much more. What I do know is that compared to cryptocurrencies with higher market caps, Factom has so much more going for it. In my opinion, 2018 is going to be extremely exciting for Factom and Factoid investors, alike.
Disclaimer: This article is simply my biased opinion as I hold FCT and should not be construed as investment advice. Please do your own research.