Home » What you need to know about the “crypto winter”

What you need to know about the “crypto winter”

by LLT Editor
26th Jul 22 7:40 am

News surrounding the ongoing “Crypto Winter” seems to be coming from left and right, with recent news breaking concerning Celsius filing for bankruptcy protection and now NFT Marketplace OpenSea reportedly poised to lay off 20% of its workforce – and with all of negative, there doesn’t seem to be room for much positivity.

However, this Crypto Winter may be leading to and showing the importance of crypto with a purpose – digital currency that does more for investors while providing long-term value for good. Much like the Marshall Rogan Inu coin, the sell tax of which supports MMA fighters, newcomer $FLIX is a token designed to revolutionize film financing.

“At $FLIX, we believe that Web 3.0 is the meaning economy: community is replacing clicks, and storytelling is trumping algorithms.” Co-Founder Micho Rutare says. Crypto investors aren’t just looking at their bottom lines; in this era of the Great Resignation, people are looking to align their investments with their passions. $FLIX is all about the story: the storytelling of the films, the story of the coin, and the story of how a community of film lovers, filmmakers, and crypto investors comes together to change the way.

By leveraging the creativity of its community members and producing partners, $FLIX is able to generate revenue for film projects while at the same time increasing the token value for investors – providing a real utility in the real world, a goal that will be sought out as a result of Crypto Winter.

Micho explains:

  • This is exactly what happened to Web 1.0–there was a speculative dot-com bubble that popped in 2000. This crash effectively cleared the underbrush—in the late nineties, companies with no clear growth prospects could get high valuations amid an investment frenzy just because they had “.com” after their names. But after the crash, internet companies had to deliver real value. This wilderness period disciplined the Amazons, Facebooks, and Googles of the world, laying the foundation for their future market dominance, which we think of as the Web 2.0 era, between 2002 and 2022.
  • Web 2.0 was the information economy, a time when our attention was harvested by tech giants and converted into revenue. But the people are sick of being harvested: web3 is the storytelling economy, the meaning economy. People are looking to make human connection, to build community, to participate in ventures and adventures as teams and tribes. These positive aspects of crypto helped to fuel the most recent speculative bubble, with random coins routinely exploding in value.
  • This most recent crash has been a necessary correction. Crypto investors will no longer settle for hype: they need to see real value and utility in web3 offerings, and they need to trust the people behind the crypto they buy. That’s why Ben Rosenblatt (my co-founder) and I have doxxed ourselves, and that’s why we’ve designed $FLIX to be not just useful but revolutionary: it’s not only a way for token holders to make money, it’s a way for them to save Hollywood and make better movies.

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