What ever happened to Snax?
"Social activity rewarded"
About two years ago, roughly, we were bombarded on the Steem blockchain with a new crypto project, where Steem usage was inbedded. It sounded quite interesting for active members of the Steem blockchain (and also Twitter). As you were rewarded with daily Snax for your social status on these platforms and your activity would boost your score and rewards too. Last time I checked, I had about a million Snax in my account. It all sounded pretty decent, and some of the Steem witnesses even got involved as a Snax block producer, like @dragosroua. But... nothing really happened since then. Snax really never got a real purpose, didn't get listed on an exchange, and I don't think any rewards are being distributed right now. Even though the website is still alive. So, there must still be some funding to keep the website in the air. So my question is, does anyone know, how it stands with this project? Is it one of the many that didn't make it? Or is it still possible that it gets CPR and gets revived? Not that I am dreaming of getting rich of it, that's what Hive is for! ;-)
Other projects that went offline
During my crypto years I have seen projects come and go, and some I entered, some I didn't. Sometimes with regret... But most never make it. Like JPE coin, a coin that was mined through Javascript on websites. I had some, and suddenly the project stopped... Bye bye coins.
Then there was Mannabase token, a project that promised universal basic income to even the poorest in the world. Right now, it has a market capitalization of less than 700k USD... So, that won't make it either. Then there was a time, I received mails to enter some sort of Q coin airdrop, that was linked to your email address, it promised a lot, and could have been big, but right now, I can't even find a thing back about it on the internet. So, that is probably washed through the sink too.
It is a fact, the crypto world has millions of projects, some work out, but most don't. I requires a lot of marketing, and let's be honest, a bit of luck too, to make it in an overly crowded market. Most of the first ones are still there, like BTC, LTC and even Feathercoin is still alive, but with a very low heartbeat. Sometimes we get lucky with an airdrop that brings in a nice payday, or even more. But most of the times, it's just air... Just like in life. You win some, you lose some!
Have a great Monday, peeps!
Sincerely,
Pele23
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I remember Jpm coin. Had a bunch of it I mined as well. Sad to see it’s not functioning anymore.
Hopefully dragos replies this post with more info on Snax
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This posts makes me nervous in some ways. I have just started investing in crypto. Everyone sees the homeruns, but there has to be a ton of strikeouts. Thanks for a bit of history and I hope Snax is still around.
I really wouldn't be worried about Snax, all the people on Steem didn't invest in it, it was sort of an airdrop to us. But apparently, it turned out to be a big zero.
But indeed, you should be careful where you invest your money into, and really do due diligence!
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There are going to be many projects that won't survive but I think we will be ahead in the long run if you do your own research. It makes me wonder if selling the airdrop when you get is the better choice and buying back in lower is the best option.
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That is indeed probably the best solution
:) is that supposed to be a potato chip? :P yea, lots of crypto starts and failures.
I thought it was some kind of pretzel 😉
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BEER.Really missed the project. It looked promising but I don't really know where the fail came from.. Perhaps they should have joined Hive. I also bought a few from the then Steem-engine market.