Open letter to Holders
As we witness the entire crypto market taking a serious beating, it's important to mentally and emotionally zoom out and understand why businesses powered by crypto will win in the long run.
When the crypto market has these massive down swings, I think it's important to zoom out and stop thinking in terms of days - but instead think in terms of years.
There is not a person in this world that would have loved to own Bitcoin (or for that matter any coin) at the price it was 9 years ago. Or for that matter any asset that has a real utility and value behind it.
This is why I believe that businesses powered by crypto have longevity behind them more so than most of other cryptos. Businesses take longer to evolve, and certainly this is a challenge in the “10x in one day” measuring stick of success in modern day crypto investing. But days like today reminds us of one simple fact - “If there is no utility or business that drives growth - there is little chance of recovery or surviving the winter”.
It's the business that drives value, not the price movement on the chart. Short term traders influence the price of young tokens (like ours) and it's a necessary evil of crypto.
Is there a real business here?
So at the end of the day, you have to ask the question - “Do I believe there is a real world business here?”. Because that is the only question that matters. Because nothing drives value and growth more than real demand and need for a token. If people NEED to buy it - then there is always buy pressure. This is the business model of our token projects DOOR and NIL.
But what about the Price?
Yes. I am not going to pretend the price went up and came down. We launched at .02 and on the first day we went over .50. and then eventually went as high as .80. It is unrealistic to expect something that has yet to drive real revenue would be worth 40x in a few months. Today we are on central exchanges which gives a much more accurate view of the price since it's an order book and we are around .10 now. We may continue to see sell pressure until we launch our app, but the bottom line is the price is not a measurement of the business. If someone went on one of the exchanges right now and purchased $10,000 worth of DOOR, the price would rocket to .30 cents or higher. There is just not enough depth in the order book and not enough holders yet to really balance price with true value. We have to get the business running to see this happen.
Hold the Door
If you truly believe in the business model and that we can sell advertisers access to thousands of users on our app, then nothing has changed. This is still the plan, and we are executing as fast as we can. It will take a long time to reap the rewards of everything we are building. Whether DOOR is .02, .80 or .10 cents right now - it doesn't matter if you hold and give the business time.
It's days like today where we see cryptocurrencies that have been around for years take a 30% hit, you begin to ask the better question - “Do I believe in the future value of this crypto in 5+ years?”.
If you sell, you lose. If we hold and let it build, we win.
I am more excited about DOOR and NIL today not because I look at charts or price. Because I am talking with advertisers, watch the app being tested and getting emails from athletes excited to do campaigns.
This is a business. It's that simple. Crypto is secondary and not tethered to our success or will power to win.