Why Bullish on Tezos? Let's Ask the Community!
I believe that Tezos is a sleeping giant. I think that one day Tezos will be seen as a dominant smart chain, similar to how Ethereum is seen today. Why do I think that? Well… I’m not sure. I like the NFT platforms I’ve tried out so far. They are a bit rough and are still works-in-progress but they have an active and creative community that aren’t afraid to stand by them and I like that a lot. I love the ease of working with the XTZ cryptocurrency. Low gas fees, fast processing speed, easily stakable, and it’s recognized by pretty much every major exchange which allows more people to enjoy the ecosystem easily. So far I’m having a good time with it, but I’m still on the fence about weather or not it will eventually reach the level of Ethereum; and when I say ‘level’ I don’t necessarily mean the token price point. I’m referring to adaption and usability. I follow the news on Tezos a bit closely and am up on some of their latest happenings and they’re doing a great job of getting the name out there. Developers are actively building new projects on Tezos and that’s a good sign. To me, it’s looking like a good long term hold, but I’m curious what the community thinks and feels. Can community perception sway my perception in the right direction?
I reached out to random Tezos users via a few open calls. I asked “Why are you bullish on Tezos?” and “What’s your favorite Tezos NFT platform?” Let’s take a look at some of the answers!
To avoid any privacy issues, everyone will be kept anonymous.
So, What's the BEST NFT platform on Tezos?
So let’s answer the easy question first. The collective favorite NFT platform on Tezos is hands down Hicetnunc.xyz.
Kalamint is gaining more attention as time goes on, but as of today all of the action is happening on Hicetnunc.xyz. OBJKT.com is a great “equalizer” platform that allows you to browse and shop all Tezos NFTs held by an artist or collector. But on an individual level 75% of voters went for HEN on a colleagues poll, and HEN obliterated 2 other popular polls that went around Twitter. When placed against the popular Ethereum platforms Rarible, Opensea, and Nifty Gateway, Hicetnunc came out on top in both polls seizing 44.7% of the vote in one and 54.2% in the other.
Why are you Bullish on Tezos?
Next I asked the community “Why are you bullish on Tezos?”
Here are a few of the answers that stood out to me:
“Adaptability is the key to survival. And Tezos is the first and probably the only chain to do something about this. That's why we had 7 decentralized upgrades in two years while no other chain can claim that.”
This is true! Tezos is very open, decentralized, and maintained! I don’t see any of the current issues with Tezos staying issues for much longer.
“Bullish on Tezos because you can make good profits from flipping art NFTs and participate in degen (degenerate) DEFI projects without worrying about exuberant transaction fees.”
Good point! Tezos stress-free fees allow user to take more risks with their NFT investments. Also the low fees seem to inspire lower NFT pricing because so little has to be spent on the minting process.
“It's a chain that isn't necessarily #1 on single parameters (speed, decentralization, staking/consensus mechanism, community size etc.). But it is among the best, when looking at all parameters as a whole and the trade-offs made on other chains. Tezos doesn't cut corners. Doesn't try to be something it is not. Tezos has organic growth – including the slow and sometimes frustrating development that comes with it. Tezos does things right in a world that rewards cutting corners, faking it, and outright lying. That means Tezos may not be #1, short term nor long term. But it also means a very strong foundation (and here I'm not talking about Tezos Foundation) and community feeling. And that means Tezos is here to stay.”
I believe it! Slow and steady growth builds a solid foundation! I do believe that Tezos is a project with long term use as it’s primary focus.
“Tezos is actually original and people are actually using it for meaningful purposes. It's not just another "NEW REVOLUTION FOR DEFI" or "PORT YOUR EVM (ethereum virtual machine) APPS HERE FOR THOUSANDS OF TPS (transactions per second)" crypto. Also, our governance is legit. Other chains trying to tackle governance don't do it as effectively as Tezos IMO. Just look at what the Tezos ecosystem focuses on. The NFT community is unique and organic. Core devs are pushing the Hangzhou upgrade with features primarily focused around dev experience. Lots of ppl are trying to actually build cool apps on Tezos and they aren't just doing it for money and hype.”
I like this a lot! Originality and a proper governance system is really important in a decentralized ecosystem!
“Let's not forget the fact they secured a huge partnership with the Mets too. People are paying attention to crypto and they see the advertisements on TV and at the games. That is big in the current market.”
I’ve been seeing the Tezos name and logo on a lot of sports billboards, race cars, and as a sponsor of a lot of events. The Grammy’s are even on team Tezos. These are all really good bullish signs!
So what do you think? Is Tezos a good long term hold? I think I’ll hang on to my bag for a little while, but don’t just take my word for it. DO YOUR OWN RESEARCH and experimentation.
Thanks for stopping by!
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