Most of my friends and family know I like to ‘dabble’ in crypto investments, so the topic of this article shouldn’t come as much of a surprise to them - what will come as a surprise is that I’m writing it to begin with.
This is my first post on HN (been non-participatory for a while now). I’ve been hearing a lot about Uhive lately and a lot of my friends have been asking me about the project and its potential.
Rather than keeping it all to myself, and my clique, I thought I’d put my opinion and 'analysis' out there for everyone and answer the question - “Is Uhive a good investment?”
Okay, not many of you are going to take that at face value. So, for a longer analysis, read my points below…
1. Uhive is still in beta, and because of this they haven’t done a huge push for users and exposure. BUT they still managed to get almost a million registered users so far.
This owes a lot to the way the app was developed. Based on conversations I’ve had with the team over Telegram, and what I’ve read about the project – the development of Uhive has been purely focused on creating an ecosystem where the native crypto has REAL utility, which adds real value to a project.
99% of crypto projects rely heavily on smoke and mirrors to create an illusion of value. This is mostly made up of whales manipulating the price at their will, or by exploiting an Elon Musk tweet!
Uhive’s token seems to be being used in a pretty big way within the Uhive ecosystem to do things like send awards and tip other users, and for now, buy up virtual land in favorable locations in Uhive’s metaverse world the Oasis. That’s because Uhive is super easy to use.
Ask yourself this; could my mum or dad, my partner (who has no experience in crypto), heck, even my grandparents use the Uhive app?
Right now, my partner’s using Uhive and she’s earning tokens at the same time, from other users sending her awards for her content. Seems like there are never enough ‘yoga poses’ and ‘healthy bites’ on social media LOL (love ya, hun).
She even bought some using her iOS account via the app, because she wanted to “HODL” – she just learnt that phrase a few days ago!
This seems to be Uhive’s overarching goal – to make crypto accessible and useful for everyone. Which I love about this project, and is, in my opinion, Uhive’s magnum opus.
In the clamber to claim the Metaverse these projects are slapping some 3D landscapes, avatars and vehicles into a virtual world and waxing lyrical about this being the Metaverse we all want
2. This one’s a lot shorter – simply, people are using it.
A quick scan on SimilarWeb of Uhive’s properties shows real usage and respectable numbers. A glance at Google Play’s download page, and the download count plus several thousand (for the most part) positive reviews from real people, I might add, and you can see this thing’s got legs. But, even more ‘in-your-face’ is the abundance of content on the app itself!
3. Their whitepaper is well thought out, and so far, they seem to have delivered on most of the promises it makes. How many other crypto projects circa 2017-2018 can say the same?
4. The Metaverse currently has so many projects claiming to be the ‘THE ONE,’ including Meta, that it’s a space which can make you feel a little cynical about the entire idea, especially for something that we’re only just beginning to understand.
In the clamber to claim the Metaverse these projects are slapping some 3D landscapes, avatars and vehicles into a virtual world and waxing lyrical about this being the Metaverse we all want. Well, I don’t!
I want something that compliments and improves my current digital experiences and combines this with my physical-world experiences. Something that’s grounded in human practices and motivation to make something bigger and better than the last iteration.
And that brings me to why I think Uhive is doing the Metaverse better than all the rest; they thought it through before they started to build for it! I can’t explain it better than Uhive themselves, so I’m just going to link to their blog called ‘The Five Laws of the Metaverse’ and let them take it from here.
5. I touched on this in my first point, but it’s such a major theme that it deserves another go-around. Mass adoption!
Aside from a few exceptions, there’s not really anything that can compete with social media in terms of the number of users, customers, consumers, whatever you want to call them.
The statistics are staggering and yet, cryptocurrency has barely scratched the surface in comparison, because no one’s really come along and said “hey, here’s something that’s as easy and as fun as social media, and it’s going to pay you in a digital currency you’ll be able to spend in the real world.” Uhive is saying exactly that and then some.
A platform that could unify social media, financial systems, numerous economies with hundreds of millions, even billions of people? Yeah, I’ll have a piece of that pie 🥧
Disclaimer: I hold Uhive tokens and several plots of virtual real estate in the Oasis