One term we hear all too often in the cryptocurrency world these days is “tulip mania”. Financial experts from all over the world have claimed Bitcoin to be a bubble far bigger than the tulip mania many centuries ago. In a way, it is not surprising someone would capitalize on this trend by creating an actual Tulip Mania ICO. This new ERC20 token purportedly provides a high ROI and “will go to the moon” pretty quickly.
Getting in on the Tulip Mania Action
Although such “joke ICOs” are nothing new in the world of cryptocurrency, one has to admire the tongue-in-cheek attitude of this project. Ever since JP Morgan Chase CEO Jamie Dimon called Bitcoin worse than tulip mania, people have been looking for ways to capitalize on this statement in one way or another. That has not been easy, even though Bitcoin has done well for itself by setting new all-time highs in the wake of these ridiculous comments.
This is where the new Tulip Mania ICO comes into the picture. The project itself is a brand-new ICO involving an ERC20 token known as Bulb. The ICO started yesterday and will run until December 21st. We do advise people not to invest in it, though, as there is nothing attributing value to this token whatsoever. Despite only 10 million coins being created and a certain amount of potential in such a name, it is doubtful Bulb will ever amount to much. That being said, if enough people buy into the Tulip mania ICO, the price per Bulb will have to go up exponentially to keep up with demand. We do know all tokens are to be distributed once the ICO ends, which may make Christmas very profitable indeed for certain investors.
The goal of this project is to determine how far a coin can grow when its main “selling point” is marketing itself. In order to succeed, the coin’s visibility will need to be raised, which means we will see some advertising, promotions, and viral marketing. Secondly, the community will need to get more involved with this project in the coming weeks and months. It seems there will be some incentives and bounties issued in the form of Bulb tokens. That’s an interesting approach, although it remains to be seen whether or not this will yield any significant results.
On the Tulip Mania ICO roadmap, we see some interesting events planned for the future. The year 2018 will be all about creating a proper marketing attack plan and expanding into other markets. If these steps are successful, a value of at least US$5 per Bulb would not be out of the question. It will all heavily depend upon whether or not enough people get swept up in the Tulip Mania or not. It’s an aptly-chosen name; that much is evident.
In the end, there will always be people who have some very odd thoughts on Bitcoin and cryptocurrency. Most of the value in these markets is based on speculation and hype, rather than solid fundamentals. If it were the other way around, Bitcoin would not necessarily be the world’s leading cryptocurrency right now. Then again, only time will tell how all those rankings will work themselves out in the end. To be sure, there’s a lot more to cryptocurrency than mere speculation.