A few months ago, when I was looking to invest in tokens to add to my crypto portfolio, I wanted to look at something that was part of a platform or a system, in other words, a utility token. After doing my research, I found $CUMMIES, the native token of the CumRocket platform, which is thought to be the main payment method for all the transactions happening there.
The CumRocket platform is an 18+NFT marketplace and a Subscription platform for NSFW models. So my thesis is that this can become the next opensea for adult NFTs and also may take a market share on the "only for fans" subscriptions industry. If my view is right, then the price of CUMMIES should go up.
When I was doing my due diligence on this, I wanted to check how many holders the token has + If the token was audited + Tokenomics. This was the information I gathered:
There are currently between 100.000 to 135.000 Holders.
Audited by Solidity Finance
It is a deflationary token. Every transaction burns a small percentage of the total supply, but this is not applied to holder balances, only the CUMMIES that are not held by anyone (the purchasable CUMMIES).
All the information about the current state of the token is available on Coingecko and Coinmarketcap.
The token has already reached a total market cap above 200 million in the past. Currently, the market cap is around 45 million. Although the platform has not yet launched the NFT marketplace and the subscription system, they have already submitted the contracts for the marketplace to be audited. That means that the launching date may be around the corner.
Another important aspect to notice is that every transaction pays a 5% fee(Sending money between wallets) where 2.5% gets distributed among holders, and the other 2.5% gets burned; that's the deflationary characteristic it has. Based on that, I like the idea of holding Cummies as an investment for the long term.
If I have to explain, my main reason for being bullish on CUMMIES is related to the NFT marketplace of the CumRocket platform. The NFT industry is growing rapidly, and I think CumRocket may be able to becoe the reference name on the adult section of this industry.
In 2020, the global NFT market did about 338 million in transaction volume. In the first half of 2021 alone, NFT sales volume surged to 2.5 Billion. This is massive, and I think the adult industry will tend to get aligned with this growing trend. Also, we should speak about the OnlyFans ban that happened a few months ago, which was a red flag for NSFW models relying on that platform to start thinking about other alternatives not influenced by normal payments processors like Visa or Mastercard (which are not big fans of this industry). The answer is clear, NSFW models will tend to go "CRYPTO."
At the moment, I will keep holding a % of my Crypto portfolio on Cummies, and I will see how this situation evolves. Diamond hands, baby!