I bought a bit of Torum shortly after it launched. It traded sideways for a while and really didn't make any serious moves. I recently moved a LOT of my other holdings (around half) into Torum after some news. I want to share a bit about why I invested a lot more and also cover some details about the project.
It was a bit odd, it had a small market cap and is backed by a top 5 exchange (Huobi). I really didn't think too much of it and figured I would let the money sit there until it had it's time.
It is a super cool project. Even if you aren't investing in it, you should really setup an account and test out the platform. It has been around for about a year but their token only launched a couple months ago. The platform has over 120,000 users and is pretty fun and intuitive. Mobile app is near completion as well.
So, what was the news that made me want to YOLO? They just had a strategic investment from Kucoin for $50 million – yes, kucoin. So we have this project which has a market cap of around 6 million dollars and it is backed by two of the top 5 exchanges. As an investor and a user of the platform, how can I not expect big things when two HUGE players in the industry think Torum is a platform worth investing significant amounts of money into?
Oh, they aren't on either of those exchanges yet…….I have seen what a listing on smaller exchanges can do for a project. A small cap project listing on major exchanges can cause a significant pump. That in conjunction with how well designed the project is and the metaverse being the hot ticket item these days is what made me want to YOLO.
I got in at about 22 cents yesterday and it is currently at about 45 cents. So far, so good. No direct sign of listing on either of those two exchanges but there is 4 million + in volume and volume is what gets the attention of exchanges since that is where they make money.
Here is a bit of info about the project (this is a copy/paste):
Now, Torum is expanding into Metaverse and got a strategic investment (Kucoin), Thai Huge Backers – AU21, Consensus Lab, M6 Strong Team – Ex-Polygon core dev and Consensys dev (Fully Transparent too)
Social – A social media platform with over 120K users DeFi – A yield farming platform that supports social integration to maximize your LP farming gains with your social activeness NFT marketplace – A marketplace for crypto artists to mint, collect, trade & showcase NFTs Avatar NFT – The world’s first PFP Avatars integrated to a Social Metaverse
Links are in the comments
submitted by /u/Justtakeitaway