The Future of IPOs
Many know the publicity that comes with an initial public offering. Gone are the days of the opening bell taking a starting gun-like effect on the floor of the likes of the New York Stock Exchange.
Before everything went digital, you either had to hope your broker had an allocation of shares for a company going public, or you had to hope you could find one.
Now, we live in a world of blockchain-enabled technology. We’re witnessing a trading exodus from traditional equities and foreign markets to cryptocurrencies and NFTs.
We All Know How An IPO Works, So How Do ICOs Work?
Initial coin offerings, or ‘getting whitelisted’, is fundamentally very different from the infrastructure of an IPO. Due to the decentralized nature of most crypto projects, you can’t exactly call up your broker and find out what’s going on - although we all wish this was the case.
To get whitelisted for crypto projects, you can expect anything from lottery style sign ups, to quest-like adventures into the metaverse. That’s right; quests.
We Did One So You Don’t Have To.
The name is ‘Temple’, ‘TempleDAO’.
TempleDAO is a decentralized autonomous organization. Offering a token called $TEMPLE, in which you are eligible to ‘stake’ (staking is like a high-yield savings account where you lock up your assets over a given period of time for % yield), in exchange for compound interest.
People are going crazy for the concept of temple, we had initially decided to conduct research on the project from a base level for our subscribers - however we got sucked in.
We Got Sucked In Deep.
Temple has not launched yet, and it won’t be launching until Friday’s full moon.
Users are scrambling to get on the whitelist, as many think Temple could be the next digital asset to shoot to fame. However, this is by far one of the hardest whitelists to get into ever, in the crypto space.
We at TARI global decided to take a shot at it - we started on Thursday, and coming to you on Monday and I can tell you that we are only 70% through it.
It’s Really Difficult.
Communications are handled via Discord, and you must connect your metamask wallet and discord account to their main website. There are a series of challenges they refer to as a ‘Pilgrimage’, you must complete in order to make it into the whitelist. One of the challenges had our team hunting for mysterious clues in the metaverse for nearly 6 hours, followed by a highly complex puzzle on the site that can only be solved once you’ve obtained the required components from the digital world they send you into.
Following shortly after awaits a ritual-like prayer you must conduct via voice chat to a group with nearly 300 other people in it - each patiently waiting their turn. This required nearly an hour of hearing strangers from across the internet, reciting prayers written by group admin. Something that really took us back was the conviction in nearly everyone’s voice. In cult-like fashion, not a single prayer recital had an ounce of question or concern for the project and the ‘digital hazing’ requirements.
Temple is a complex project, and there are very few who truly understand the concept behind the decentralized, autonomous, fully digital treasury it aims to be.
These are sharp, bright minds reciting prayers that include stanzas about dancing around in ballerina outfits, and admitting your darkest fears. To the naked eye it appears ridiculous, which is the whole point. They don’t want naked eyes, they want exclusivity for the very few who understand the complexities.
This Is The Future We’ve Been Hearing About For So Long.
This is what we’ve been told time and time again, and it’s what a fair few of us have been waiting for. Remember the days of Runescape and EVE Online? Completing quests in order to obtain in-game rewards that, now, would probably be deemed worthy of NFT status? This is it. Creators of highly anticipated crypto projects get to choose their whitelist based on like-minded statuses. This levels the playing field and is completely impervious to getting ‘grandfathered’ in off the back end of a reputable last name similar to the way Wall Street functioned for years.
Be sure to keep your eyes out for any upcoming projects that require you to dive in, as they have historically proven to be the ones worth it.