The crypto market community was excited by the presence of LegoCoin which is often the subject of discussion. Taking the name from a well-known toy company, this crypto coin apparently has no affiliation with Lego. It's just a tribute from the community to develop the ecosystem for Lego fans.
Many have questioned whether this crypto token is just a shit coin or is it worth investing in. This article is about $LEGO.
In This Thread/Topic
1. Get to know LegoCoin
2. Utilitiy
3. Tokenomics
4. Roadmap
5. Is LegoCoin Affiliated with LEGO Toy Company?
6. Who are LegoCoin Developers?
7. How to Get $LEGO?
8. Is Investing in LegoCoin Profitable?
9. Frequently asked questions
10. References
1. Get to know LegoCoin
LEGOCOIN ($LEGO) is a social meme token with the aim to contribute to social causes and creativity around the world through the favorite toy: LEGO.
$LEGO tokens are on a BEP20 based network and hopefully everyone can enjoy them. The project's developers prepared several projects and features that will cover digitization experiences that are fun, creative, imaginative, and insightful. This project offers high ownership for the owner with the aim of forming a solid and supportive community.
2. Utility
$LEGO token holders will get the opportunity to enjoy the various benefits of this community. This includes being part of a larger ecosystem. Thus, LegoCoin can be a medium of exchange for daily activities.
In addition, token holders can get low withdrawal fees of up to 0%, usage of the token with multiple forex and commodity assets, as well as whitelisting for exclusive products and events.
From the promo side, $LEGO holders will get a higher amount of token airdrop and extra prizes for staking, earning, and saving.
3. Tokenomics
Token holders will get the opportunity to develop the LegoCoin community from scratch. The developers claim this will become a community member's playground. Later, within this ecosystem, they can explore, be creative, and inspire the development of this project.
The maximum supply of tokens is 100,000,000 running on the BEP20 network. Later, of the entire supply of tokens, as much as 90% of the allocation is for prize promos, 5% for trading prizes, 1% for staking prizes, 1% for play to earn prizes, 1% for marketing, 1% for project development, and the remaining 1% for the founders.
As of November 8, 2022, $LEGO costs $0.060267, bringing its total market capitalization to just over $6 million. According to Coingecko, LegoCoin V2 is ranked 1087th global crypto coin.
Currently, the number of Lego coins in circulation has also reached 100 million. Alias, has reached the maximum number circulating in the market. However, with plans to burn or remove some of it from circulation, there is a possibility it could boost its value.
If we analyze from LegoCoin tokenomics, the maximum supply of this crypto coin is 100 million. However, most or 90% of the token allocation is for prize promos or airdrops. Indeed, there are provisions for a vesting or lock period, but of course traders can easily sell when the vesting period is over.
4. Roadmap
In terms of the roadmap, in general, Lego V1 will lead to Lego V2. LegoCoin has completed token registration on a number of crypto exchanges, namely Coinstore, Hotbit, Bitrue, Digifinex, Probit. In addition, they have also completed an audit from CertiK.
As for what is currently underway are marketing campaigns, V2 token migration, token burn plans, and redenomination. Meanwhile in the future there will be staking pools, farming pools, INO (Initial NFT Offering), PTE (Play to Earn) and other partnerships.
5. Is LegoCoin Affiliated with LEGO Toy Company?
No. LegoCoin is a community-based token, and the developer declares that it is not associated with any LEGO company. According to the developer, LegoCoin is a token of appreciation to the ecosystem and the Lego community.
6. Who are LegoCoin Developers?
If you look at the website, there is no clear name or figure regarding the Lego coin developer. There are only LEGO CEO, LEGO CMO, LEGO CBO and anonymous LEGO CTO with Lego toy figure figures. The description of each position is also not specific.
7. How to Get $LEGO?
The $LEGO token is currently available on Coinstore, LBank, Digifinex, and Probit. Project developers are constantly looking for new partners to join LegoCoin in offering new ways to earn $LEGO.
LegoCoin's latest move to better reach its investors who believe in its exciting vision is to list its native token, $LEGO, on the Coinstore cryptocurrency exchange.
The $LEGO token is now available on the Coinstore exchange as of April 27, 2022. Currently, Coinstore users can make deposits, withdrawals and trade these tokens on the platform. If you are interested in supporting a project that supports social and creative causes, then maybe the $LEGO token is the right crypto asset.
8. Is Investing in LegoCoin Profitable?
Because most cryptocurrencies have very limited use in the real world, the value of cryptocurrencies is purely based on mere speculation. Buying and selling goods or services with cryptocurrencies hasn't happened much. Because of that, people use the term shitcoin just because the crypto coin is not useful for transactions in the real world.
How to identify shit coin is actually easy because they follow the same pattern. At the time the coin was released there might have been investors who were interested, but the price was relatively fixed, not increasing. Or it could just be that the price has increased because many investors are interested. However, then the price decreased dramatically as investors sold their coins to take advantage of short-term profits only.
The same goes for LegoCoin. In early September, the coin's price movement was flat with a very small market cap. Then, big fluctuations came at the end of September causing price spikes.
The price of LegoCoin on CoinMarketcap soared millions of times in just a matter of hours. So if a trader has US$1 in $LEGO the value can reach $1.4 million in 6 hours on September 27, 2022.
Whereas, on the other hand, LegoCoin crypto projects are still not progressing. So, buying $LEGO at this time for investment purposes seems like high speculation, since it is not yet clear how far the Lego V2 project is going. For investors who want to buy $LEGO, it's best to use cold money and don't expect too much to make a profit. This is because the value of $LEGO does not have strong fundamentals.
In the future it seems that the development of altcoins like LegoCoin which will then become shitcoins will likely continue. This can be seen from the interest of market players in shit coin only for trading. Some governments have lost interest in cryptocurrency mining operations. Examples are South Korea and China. While Japan actually encourages the use of crypto currency for a wider market.
9. Frequently asked questions
- Does LegoCoin have any affiliation with the LEGO toy company?
Answer : No. LegoCoin is a community-based token, and the developer declares that it is not associated with any LEGO company. According to the developer, LegoCoin is a token of appreciation to the ecosystem and the Lego community.
- How to get $LEGO?
Answer : The $LEGO token is currently available on Coinstore, LBank, Digifinex, and Probit. Project developers are constantly looking for new partners to join LegoCoin in offering new ways to earn $LEGO.
10. References
https://coinmarketcap.com/currencies/lego-coin/
https://www.legocoinlive.com/
https://bscscan.com/token/0x520EbCcc63E4d0804b35Cda25978BEb7159bF0CC
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Topic: [NEW] LegoCoin, Shitcoin Looks Promising (Read 37 times)
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