A Safer Blockchain for Brands?
Although the widespread understanding and adoption of Web3 technologies is happening relatively slowly by the general public, and the laws and boundaries surrounding cryptocurrencies and NFTs are still very fluid, brands are rushing to get ahead of the curve utilizing tokens for brand marketing.
With more and more brands and influential personalities turning towards NFTs for brand awareness, audience engagement, and alternative revenue streams, creators & marketing decision makers will have to decide not only what kind of tokenized project to launch, but where.
While many established brands and celebrities have launched tokens on popular decentralized blockchains such as Ethereum or Solana, the Gauss ecosystem was designed with the belief that well-known brands and personalities will want to take advantage of all of the cutting edge blockchain technologies that tokenized economies can provide without having to worry about their projects or communities being scammed on a decentralized platform.
WHAT IS GAUSS?
Gauss is a curated layer 1 blockchain and ecosystem developed to help brands create customizable digital tokens that will enable them to connect with their existing audience as well as be a source to create contemporary marketing campaigns to grow their community. Although Gauss is a curated permissioned blockchain that will provide a safe and secure alternative for users, its EVM (Ethereum Virtual Machine) compatibility will allow users to interact with and utilize applications and assets from other popular blockchains such as Ethereum, Polygon, Solana, and Binance.
THE STATUS QUO OF SCAMS
The notion of fraud in the cryptocurrency/Web3 space is widespread and often the reason why many are skeptical to dive into buying or selling NFTs. One of the most appealing aspects of a decentralized blockchain is that anyone can launch a token at any time. On the flip side of the same token (pun intended), one of the biggest downfalls and causes of scams on a decentralized blockchain is that anyone can launch a token at any time.
Copycat token projects are launched all too frequently on decentralized blockchains posing as reputable brands or influencers. For instance, if Gauss launched their $GANG token on a decentralized platform today, tomorrow someone could launch one of the same name, post on social media posing as the company with convincing, but unofficial links advertising a special deal on purchasing the “new” token. In the fast-paced world of the internet, it is likely that many uneducated people in the Gauss community would spend their hard earned money on a fake and worthless copycat token before any one got wind of the scam.
This recently happened with YouTube megastar, Mr. Beast. Not only did this fraudulent project pose as him on social media, but unfortunately news outlets picked up the story and shared the misleading story information as well. Deciphering what is real and what isn’t takes some skill and experience. The friction that this uncertainty provides to the process of having brands and their audiences adopting digital tokenization is likely a cause of resistance, and one that could be settled with an alternative, curated blockchain.
Because the $GANG token and all the Ferro Card NFTs launched by Gauss will be on their curated blockchain, they can be assured that any tokens that are being bought or sold are authentic.
Another point of emphasis is that sometimes token scams are a little more drawn out and subtle. The identities of many developers behind the projects on the aforementioned decentralized blockchains are often unknown to the public. An unfortunate, yet all too common part of the NFT landscape in these decentralized environments is that these anonymous or ‘anon’ founders create a lot of excitement around an NFT project, build up the value through promises that are based on a mountain of deception, then quietly walk away. Eventually it becomes evident to these communities that they were deceived, leaving supporters with devalued tokens, and the bitter taste of distrust not only for those that were associated with that particular project, but the entire NFT and crypto space at large.
Would you blame them?
Without doxxing, or revealing their true identity to the public, the immoral founders in this situation have nothing to lose and are free to create another pseudo-identity and create another project again and again, leaving more and more victims in the dust every time. Although it is always unfortunate when someone is frauded, the sentiment of buyer beware has never been clearer. If someone is selling you something anonymously and isn’t going to be responsible for what happens, then that’s on you
Due diligence is an essential ingredient in the decentralized blockchain landscape. Gauss knows that brands do have a lot to lose as well as a lot on their plate, so why not take the burden of doing their due-diligence on the blockchain off of them and let them focus on their individual project and engaging with their community.
With scams like this happening everyday, it’s understandable that many brands and influencers across all industries aren’t taking this transition into creating tokens for themselves lightly. They have spent years of work building up their brand and reputation and the last thing they want to do is tarnish that. When you recommend or ask your faithful fans and followers to buy something, there is a sense of responsibility that comes with making sure they are doing it in the safest way possible, making sure they are protected before, during, and after any transaction that is connected with the brand’s name.
THE GAUSS SOLUTION
With all of this in mind, Gauss is providing a solution so those who want to capitalize on the abundant contemporary marketing potential that tokens provide, can do it in a safe and secure way. Gauss sees itself as a blockchain for brands. Not only will it be an ecosystem that gives creators the control to create their own digital economy, but giving them the opportunity to build it in a safe environment. The curated blockchain, launching in November ’22, will be one that creators and brands can feel good about welcoming their loyal fans and supporters to as a safe and secure place.
One of the ways the Gauss blockchain is going to make this a reality for brands is a standardized vetting process all creators will go through before they can successfully launch a project on the ecosystem. Getting to know the people and businesses behind each project is important for establishing an ethical framework which will ensure the Gauss ecosystem stays a safe place for influential brands to invite their communities and have them transact on.
The entire Gauss team is doxxed and so will all of those creators behind the projects that it allows on the curated blockchain. Although that isn’t the only prerequisite, it is an important one in being a force for all of the good that NFTs and cryptocurrency can bring without the fraudulent behavior. We’ll continue to share our curation and vetting process as that is published by our GECO (Gauss Ecosystem Curation Operation) team. Check back for future publications on that.
While the landscape will continue to evolve over the upcoming months and years, many things are up in the air hanging in a cloud of uncertainty.
How will lawmakers affect the NFT and cryptocurrency markets? And when?
What is going to be the tipping point for mass adoption to NFTs?
Will they be called NFTs?
Will my mother ever own one?
However we can be sure that the amount of questions we have will certainly outpace the rate at which they are answered and while consumers are pontificating, the marketing world will be busy trying to efficiently utilize these technologies to get our attention and strengthen their brands. At this time, we can’t for sure predict the market or answer any of those aforementioned questions, but we can tell them that if they are going to launch a token, there is definitely a safe place to do it.
For more information about the Gauss ecosystem, please visit their website or YouTube channel.