Is Torum the next big thing in Crypto??!!
Im going to be taking a deep dive, look into the new social media platform for crypto enthusiasts, that is torum torum theyre launching their ido next week. So i thought this would be a good time to take a look at them and let you guys know what they are all about, so you know what to do buckle up, because this is going to be another exciting episode of crypto wise, all right, crypto wisers. Before i do a deep dive into torum, please do me a favor smash. The like button subscribe to the channel. If you havent already and hit that notification bell all right, cryptowisers lets jump right into torum. What the heck is it well its a social media platform designed to connect worldwide cryptocurrency users. Now this is actually a project that marvin put me on to and when he told me about it, i told marvin look im not really into the social media projects. There have been a bunch of projects that have tried to build the next facebook, the next twitter on the blockchain, make it decentralized thats. What i thought this was at first, and i was wrong thats. Not what this is. The team at torum is actually taking a really smart approach here: theyre, not trying to compete with the facebooks or the twitters theyre, not trying to reach the masses theyre just trying to create a platform for people like you, and i who love crypto theyre, trying to Design, the ultimate social media platform for us, so this is very different than a lot of the other social media platform, blockchain projects that came before it.
What i like about this idea is, i dont know about you, but i am on a ton of different socials to try to keep up with crypto. Hopefully you guys already know were on twitter. Were there at cryptowise daily, if you dont follow us yet please do so. We also have a telegram group at cryptowiseofficial and you should definitely join that group too. If you havent already, but as you can see just there weve got twitter weve got telegram theres discord, which is big in crypto, theres, reddit, theres, facebook, so theres all these different places to go and it can be hard to really keep track of whats. Going on. On each of those platforms – and we know firsthand that those platforms they dont like crypto, because our twitter account got suspended, that was a nightmare and all we did was talk about crypto and they took us down and then, after a few weeks or a month, maybe It took they said: oh yeah, sorry, no reason to take you down. Sorry here you can have your account back and in the meantime, we had already created another account and now weve got these dual accounts were scared of deleting the second account just in case they take us down again so anyway, theres definitely a place for something like Torum and they havent even launched their token, yet theyve kind of been under the radar. As i said, i heard about them from marvin and they already have over a hundred thousand people using them.
So that definitely gets your attention and one of the first things i noticed about them were their investors. Okay, they got some heavy hitters who are backing them specifically, who ob eco chain is one of their exclusive partners and huobi. One of the biggest exchanges in the world is one of their big strategic investors. As you see here, hobie ventures, one of their big backers, but theyve got a lot of other venture firms backing them. A lot of people think that this platform is a lot different than a lot of those other social media ones that have tried to succeed in this space before them, and they got some great strategic partners within the crypto space poly network, our friends at mantra, dao Kylen, you guys know we love kylan, so they certainly have some impressive partnerships starting out all right. So a couple of key things here to talk about in this video one is the platform itself, because you can sign up for free right now. I just did it so ill show you what the platform looks like and some of the features that theyre planning to launch in the coming weeks and months, and then, of course, the ido sale for their token thats happening next week and well talk about that. So first lets look at the platform here. This is it right here just signed up, as you can see, i have zero followers. I am following 12 people so anyway, if there are any crypto wisers out there already on touring, because i know how sophisticated a lot of you guys are.
You probably heard about this well before i did if youre already on here, if youre one of the over 100 000 people already signed up, come follow old, milton here, im feeling pretty lonely in the torum. So you can find me here my handle at milton tried to keep it simple for you guys, but this is what the platform looks like right, now: kind of has a very kind of twittery vibe in terms of the layout. So here you got your info. I still need to verify my account here and then here youve got active landers, so this is just other people that you can follow and i randomly follow 12 people and ill continue to follow more. Let me know if youre on here id be happy to follow. You as well so theres kind of the the users who are using it like me, and then there are also places for companies. So if you can imagine like at some point, you would have kind of all the crypto projects here signing up so that you could follow your favorite projects all in one place. Then they have something called clans, which is more of like i guess a group like if youre into certain aspects of it like for me. I love polka dot. You know if theres, a polka dot group im going to be joining it, but so this would be more like. I guess the facebook group element that kind of thing here so kind of cool theyve got so basically like almost like.
Following people on twitter, then theyve got the companies thats like kind of following companies like we do on telegram right now, and then theyve got these clans, which is kind of like joining a group and like other social media, you can message. People have all your messages in one place: notifications, unlike other social platforms, of course, torum very crypto friendly. It is a crypto project in itself, and so their token is the xtm token. You got a wallet right built into the platform here. Well, talk about the token later in the video and kind of how you can earn it on the platform, how you can use it on the platform, but theyve got this built in wallet, so you would be able to see all your transactions here. General dashboard mission is kind of different ways. You can earn the xtm token within the platform and then gifs you can actually gift people. The xtm token, if you, like certain creators, hint hint milton krypto wise. You know. If you really liked crypto wise, you could tip us with the xtm here on tour. All right well talk more about the xtm token in a bit go through the tokenomics, and the information on the idea is coming up in a few days. But first i want to talk about some upcoming features that theyve already announced for this lets hit up the old trusty white paper. This is version number four, okay, theyre gon na have a news section, theres, so much news in crypto all sorts of different platforms, but also direct press releases from companies, so theyre gon na have all of that in one place, which is great, theyre gon na be Doing their own nft launch pad right in the platform and a nft marketplace, so i think the combination of the social media and nfts, i think, thats a great combo right there.
You know if youre chatting nfts with someone, but the marketplace is right there. Within the platform, i think that is a great idea, theyre going to do a torum lounge, so this is more like clubhouse. So, basically, like chat rooms, youre going to be able to do crypto chat rooms right on the platform. Crypto podcasts crypto amas will be able to happen right there on the platform, and this one is a huge one for me. So one of the big challenges i thought for torum was going to be well. You know people have already built these huge communities on telegram. Are they really going to want to start over on torum like us, we have a telegram group. Are we really going to start a new group on torum and then have our telegram group isnt that just adding to the problem of there being way too many platforms, but theyre actually going to be doing torum gram which will allow you to connect your existing telegram Group onto torum, so that is huge. That would be huge for us. I know its difficult for us to find time to go into our telegram group. I know for me personally telegram just the layout of it. I get a ton of direct messages on it. I miss a ton of them, so if theyre able to connect my telegram right onto torum and our group on detorum and then have a much kind of better user friendly interface, it connects with all my other messages.
I think this is a really important feature, so i was glad when i saw this and then theyre also going to be doing some defy stuff right on the platform, so farming and nft farming swaps, things like that. So definitely some ambitious plans coming up for torum and then the next question, of course is: will they be able to execute on this ambitious plan that they have? Well, they do have a really big, impressive team of devs, so i think back when they started so theyve been working on this project for over three years. I believe thats. Another thing i really like about it is that they waited to launch their token. They didnt just launch the token and say: were gon na have a product in three years they worked, they actually built a product and now theyre launching the token, and so i believe their team now is about 27.. Most of them are devs thats. What you want so they do have the manpower here to actually build this out, because this is a very ambitious platform ago. Is the ceo also a front end developer and he was actually one of the early crypto influencers hes from malaysia. But then you have people like and im probably pronouncing their names wrong. So i apologize but vashal gupta. He was one of the early core developers of polygon and nagendra kumar, who used to be with consensus. So they got some pretty pretty good people on this team and its a big team, which is great its certainly a lot of work to do on this platform, especially to keep updating it, making it relevant so thats good to see, because i think theres a lot Of potential here for them to create value for the platform which i like theres kind of a business model.
Here you can see all sorts of opportunity for streams of revenue which, ultimately, if they feed that back to the token holders, will give a lot of value. To the token one thing that theyve already started doing is air drops so going back to wholl, be echo chain being one of their strategic partners who ob is really trying to kind of build out that chain its a smart contract chain very similar to kind of What binance smart chain has done for binance, so there are developers and projects being built for that chain. So i imagine theyll work a lot with those kind of projects. I know that they already recently did airdrop campaigns with a project called butter swap and filda. So opportunities there to be able to reward people not only that are using the platform, but the token holders token stakers. So speaking about the token lets. Look at the tokenomics now for a sec, all right back to the old trusty white paper here or the tokenomics youve got a mac supply 800 million units of the xtm token, its going to be an erc20 token, but also therell be a heco version and a Bet 20 version so heck, oh thats, ob echo chain and then bep is the binance smart chain. So the token will be on all three of those chains, and this is how the 800 million is being divided up. So youve got the seed round, pre, sale and private round and public round.
I believe all these have happened already because now theyre on to the idos and so youve got the public ideas coming up in a couple of days, thats, where we are here marketing budget. Very important a lot of projects do not budget this, in especially for a social media platform. Theyre going to need a lot of marketing good to see that theyve built that in here reserves, ecosystem liquidity and then theyve got their strategic advisors and devs, etc. 10 and then the team 20, so those are the tokenomics again, 800 million max supply all right, so the ideals lets talk about them, theyre doing a dual ido on scale swap and zendit now scale swap i just found out about a little while ago. Actually, because, if you remember not too long ago, i made a video this one here, new altcoin, with huge potential that was about the release of a project called cyrus foundation. That was the first project i had encountered. That was using scale swap that one did really well. I got ta say if you want to watch that video and then check out how cyrus has done since i was pretty impressed, so theyre doing scale swap like cyrus did and then zendit zendid, of course, is the launch pad of mantra dao, a project that i Have also covered multiple times on the channel, so lets just go through the details here. Total supply – as i said, 800 million valuation, which puts the total valuation at about 48 million.
But the initial token circulation is only going to be just under 24 million, which puts the initial market cap at just over a million so thats nice, beautiful small market cap, like that. So in total theyre gon na raise three hundred thousand through the two ideos. So theyre splitting it up 150 on scale swap 150 on zendit token price, six cents different caps for both. So if you are interested in trying to take part in either of these idos, i recommend coming to this medium article here on the torum medium page. One thing to keep in mind: scale swap, has two different pools, so theyve got the private pool and the public pool it sounds like the public pool is already over subscribed, but it seems like theres room still in their private pool, so you could always go to Their website get more information about that there. It is right there at their home page scale, swap dot io. So that is the information about the idos happening on the 14th. So i imagine the tokens gon na be out into the world right after that, but if youre interested in torum a couple of ways, you can participate theres the whole token thing you can invest in the token, if you want, if thats your jam or you can Just sign up for free, try it out im on here, find me here, say hello, or you can do both anyway. Im signed up now, im going to start using it.
Hopefully, try to interact with people see how it goes very interesting idea, huge potential if they can get traction as a crypto guy, definitely solves a lot of issues that i have in my daily life, with all the different socials and stuff, so torum definitely worth having On your radar, alright guys that was my video on torum, thanks again for watching, if you found it valuable, please smash that, like button really helps other people find our channel, which i appreciate subscribe to the channel.