Custom cryptocurrencies or minted digital coins have multiple utilities, all depending on what you want, but the most important part is that we understand their characteristics so you can make the best of them.
MintMe Tokens are utilities
We have to start talking about the difference between securities and utilities. The reason why tokens created at MintMe.com are utility tokens is because they are not stocks or shares of any company. Yet they are/can be valued depending on the prizes or special rewards their creators willingly offer as incentives to sell them. For example token creators can decide that they will give a special interview on their new project to the people that support them buying their tokens. It means, in other words, that the people interested in getting first to such an interview will feel invited to buy the tokens since they are charged with something valuable for them.
“The digital tokens you create are transferable yet they are non-fungible which means that even though you sell them to others they are still the same tokens and cannot be copied or multiplied.”.
The same can happen with many things, artists could offer special rewards as songs, prizes such as autographs or pictures singed by them. Others could just incentive their supporters through a meaningful cause, letting them see the process of their work and what they do with the support they receive from the people. But digital tokens created at MintMe are not shares that determine whether a person is legally in possession of a part of any authorship/ governance over the token creators business idea, project or plans.
Another important characteristic of the digital tokens you create is that they are transferable yet they are non-fungible which means that even though you sell them to others they are still the same tokens and cannot be copied or multiplied.
If you offer something to your supporters as a special offer linked to your token it’s an offer that cannot be placed in another token but yours. Every time someone buys a token from you, they place an order that can be checked and all transactions are registered.
You also have a certain number of tokens you can use to fulfill your purpose, the number of tokens you can have also supported the idea of a market in which the price can go up once the demand as risen and the amount has lessened. If there were unlimited tokens that would mean that there is no need to rise in price since the amount will always be enough to cover the demand, and on the contrary, the prices will have to be lower to keep the people buying. High demand and a reduced amount of tokens will ensure that the prices can go up for you and for those who buy from you expecting to trade later on.
“A high demand and a reduced amount of tokens will ensure that the prices can go up for you and for those who buy from you expecting to trade later on.”.
Talking about special offers you can make, I’d like to mention one that can seem very interesting to you if you have a project that wants to raise money but it’s probably not a long term plan (Please read more on this at token crowdfunding for short and long term plans). You could create an offer that is time-bound to the last release of your tokens.
At MintMe you can decide to put all of your tokens in the market for sale at once or hold some of them to release them later on. This means that you can choose to make time-bound offers on the purchase of your tokens available in the market. And offer something specific in exchange just to those who buy the first lot. And change your offer for those who will buy from you in a second lot.
Custom cryptocurrencies can be fun to use if you are wise taking advantage of all of these characteristics. Prepare your campaigns putting all things in perspective and explore the market possibilities for token creation.