Startup companies became the biggest trend in entrepreneurship since the cascade of the internet in every home. The ability to involve and interact with your locale of customers in the very early stages of your business has been very beneficial in ensuring that products or services that the enterprise will offer are nothing short of being the best there is.
The most common way most startups establish themselves nowadays is through crowdfunding, where they gather funds from the public, effectively making them the primary sponsors and investors of the project, in exchange for an extra perk that only early supporters could avail and enjoy. Obviously, this is a viable method that allowed hundreds of startups and projects both in and out of the cryptocurrency world to realize their plans and earn considerable money meant for funding.
Apart from this, however, a much more interactive method of reaching out to potential investors and customers is silently taking over the startup sector of the cryptocurrency industry, actively allowing them to be part of the project’s success and challenges. This allows them to retain investors by giving them notable roles in the foundation of the project’s framework and incentivizing their participation, this is perfectly exemplified with CUDOS, a project that was just recently released but is already making notable updates in their goal to a future of the crypto world free from all the high transaction fees and tedious transaction processing times.
Said project implemented multiple programs that allow each investor and prospective supporter to actively partake in each field of CUDOS that needs supervision and assistance.
This move allowed CUDOS to weather tumultuous and challenging moments in the cryptocurrency industry and retained most of its value and relevance in the market.
Crowdsourcing is a very powerful move that entrepreneurs and aspiring project founders both in and out of the cryptocurrency world could use to ensure their project’s success, and in line with this, I believe projects, whether within or outside the crypto industry, should take a page out of CUDOS’s book.