Over the past few months, I've been diversifying my investments into a few varieties of crypto projects. Since I have a limited fund to invest in, I could only choose a few of them that I think I can trust. Trying out things myself is a good way for me to gauge if I really want to keep the investment or simply get out as soon as I earn some profit from it. So far, I've been lucky not to lose anything through scams or Ponzi schemes. Maybe I'm careful enough not to get lured by some fake crypto projects out there.
However, there are times that my attitude of not taking enough risk is resulting to regret of missing out. There is a particular Defi token that I invested that I'm regretting until this day, it's EasyFi Network's $EASY tokens. I bought it around the $4 price range and then sold it for around $5.20 price range to earn some 20% profit.
Now, it's trading at $30-$37, what a disappointment, right? I could have made 10x profit through it if I hodl enough. Well, that was the kind of investment that I made blindly. I never did enough research about it and only learned that it's a fork of Compound.
So, in search of a new gem; I made a post in Blurt asking what are tokens that I should invest in this 2021.
One of the responses leads me to Akash-Network's $AKT (Coingecko: $AKT), this is the one that took me two weeks of research until I finally put something on it. I was also looking at Cosmos' Atom (Coingecko: $ATOM) but it was priced at around $6 and $AKT is just under a dollar back then.
Akash Network is a Decentralized Cloud Marketplace that aims to disrupt this giant industry of cloud services. Right now it's dominated by AWS, Google Azure, & Alibaba. The strategy of Akash is to undercut the high cost of deploying apps in those centralized cloud service providers by 10x. How it's done is by utilizing the unutilized data centers all over the world, there are about 85% that are idle for most of the time.
Also, the Akash Network will also allow home computers to provide cloud service making their service the AirBNB of cloud computing.
When the use-case is solid and the team is well versed in the Cloud service industry; the $0.80 price is just a bonus! That's the realization that made me build my $AKT stakes from when it was $0.80 until the $5 price range.
Yes, it's my biggest bag so far. And it's the one that I put a lot of focus on.
Right now, it's priced at $6.80 and I'm not thinking of pulling out my investment to cash out. Is the price not enough?
Well, it's not really about the price.
Since it's the project that has a long-term prospect and potential sustainable income, I might hold this stake for eternity. Have a look at this excerpt from the Akash Network website:
If it's not clear enough, $AKT earnings will be very resilient even during a bear market and much more during the bull market. I have never come across this kind of sustainable approach in the crypto-space. A dual rewards system that combines inflation and marketplace monetization built on top of a fast-emerging industry.
The project already has a working product, that's the MainNet 2, apps and tenets are getting deployed. I can see it being utilized in crypto projects in the near term.
The Mainstream adoption may take longer but I'm hoping that the rest of the world will see the benefit that they will get by deploying their apps, website, blogs... etc on the Akash Network.
The Unstoppable Cloud!