For most blockchain developers these days, the objective of their efforts no longer concerns digital assets. Rather, it is a question of building an ecosystem around these assets as a means of making them more “useful” for the people who have them.
With a vast blockchain ecosystem, cryptocurrencies gain more objectives and utility, which will often be translated into increased demand. And if a digital asset is in high demand, it is likely that its value is increasing, to the pleasure of anyone who owns it.
In the context of blockchain ecosystems, cryptocurrencies become a kind of “digital oil” that greases the wheels, allowing people to access the various products and services built on this network. For example, the most famous blockchain ecosystem is Ethereum, and to use a decentralized application built on this network, you will have to contain ETH, because it is the main token used to pay for the “gas costs” necessary to compromise with any DAP based on Ethereum.
This is why the quality of goods and services within a blockchain ecosystem has a direct impact on the value of the assets. The better these products and services, the more people want to use them, which means accumulating on these native assets. These cryptographic assets are rare, and therefore a large ecosystem with tons of high quality services is sure to help increase their price.
In other words, if you are looking for a good token as an investment, it is essential to consider the wider ecosystem around this asset and to understand what value it really provides. This means exploring the different protocols and dapps within this ecosystem to see what they have to offer, how unique they are and if they are likely to grow or not.
The best developers understand this and focus on building new ecosystems that can offer something other networks do not do so, and which has led to an explosion of decentralized networks that all do their own thing.
An evolving ecosystem
Take a look at Gleec, one of the oldest blockchain ecosystems. He started his life in 2015 as a secure communications network, and it is always a major objective of the project via Gleec Chat, which provides a secure platform based on blockchain for encrypted messages.
Having adopted the blockchain in 2017 and created a native token, Gleec, the same year, Gleec has since launched numerous initiatives which aim to increase the usefulness of its native asset. By trying to build an ecosystem that worked around his communication platform and the Gleec token, he first created the Gllec portfolio. This was then transformed to become the Gleec BTC exchange, which makes the asset accessible to a world audience.
Since then, he has added a global payment infrastructure with services such as Gleec Pay, which allows companies to accept crypto payments, and the Gleec card, which allows crypto holders to spend their tokens in any store that accepts visa cards. The company was in particular one of the first to seize the opportunity created by El Salvador’s decision to legalize Bitcoin, obtaining a license to convert bitcoin payments into US dollars in any store via the Gleec BTC Exchange.
Gleec also tried game games with Gleec Racing, a game based on the blockchain that was created in collaboration with the Buggyra race team. It was a complete racing simulator powered by adrenaline where players could deposit Gleec to participate in weekly Grand Prix races, winners winning a large price paid to Gleec.
Diversity is a key theme for Gleec, and his latest initiative saw him venture into the world of token art with Raphael Coin, or the Raph token. This is a new digital asset which represents a part of the masterpiece of Rafallo recently rediscovered “Recto: Study for the Battle of the Milvian Bridge”. By buying RAPH tokens with Gleec, users can become fractional owners of the authenticated work of art via the Gleec transparent blockchain infrastructure, helping to preserve a cultural masterpiece for future generations.
Improvement of utility and value
Gleec’s strategy to explore different use cases and applications has a lot of sense and has had a dramatic effect on the adoption of the platform. Previously, with its laser-focus on the creation of a secure communication platform, it could only attract a very limited audience-and it was also in competition in a very difficult industry, with heavy goods vehicles like WhatsApp also offering encryption.
By widening his horizons, he calls on much more than techniques interested in quantifying their communications, art lovers becoming his new demographic target. And now it goes even further, contacting racing enthusiasts again with its sponsorship of the car pilot of the Emirati Aliyyah Koloc rally.
Such initiatives present the flexibility of the regulated infrastructure of Gleec blockchain and allow it to attract a much wider audience. With its growing ecosystem, Gleec offers a wide range of very useful services, allowing people to really spend their crypto, to use it to play games and invest. Such a strategy has also increased the visibility of Gleec, the caregiver to target new markets like El Salvador and to develop its user base.
Having a large blockchain ecosystem promotes more innovation, with ideas from a field applied to other projects that rely on the same infrastructure. It also guarantees a more effective use of blockchain resources, by supporting several applications and services. Meanwhile, Gleec’s regulatory infrastructure is increasingly adaptable and versatile, which facilitates the adoption of new use cases for blockchain technology as they arise.
As the Gleec ecosystem develops, it creates positive network effects that benefit each participant, with an increased transaction volume for the Gleec token, which means more liquidity and improved value for token holders.
By evolving secure communications in a complete payments infrastructure and an experimental platform for art tokenization, Gleec has transformed the usefulness of Gleec and has created greater value for tokens holders. It culminates in more positive network effects that benefit each participant, creating a lot of brighter perspectives for the future of blockchain.
