In order to understand Wings cryptocurrency and its objectives in the cryptocurrency space, let us first take a look at decentralised autonomous organisations, popularly known as DAO. A DAO is essentially an organisation that is governed by computer programs known as smart contracts. The idea here is to have the company operate itself without the need for a hierarchical management. All the financial transactions and program rules are maintained on the DAO’s blockchain, thus making it immutable.
What is Wings cryptocurrency?
Wings, through its cryptocurrency WINGS, aims at enabling its users to participate in the management of DAOs. The community members of Wings can scrutinise DAOs and participate in its marketing, management, forecasting, and crowdfunding. As a result, users from all across the world come together and collaborate in the decision-making process of projects in the community, in a decentralised manner.
Furthermore, Wings also enables users to create their own DAO and launch initial coin offerings (ICO), with no special knowledge. The creators can also use the Wings platform to communicate with their supporters and manage their DAO efficiently. This solves a big problem in the blockchain world - finding the right startup company. With the help of Wings, creators can now receive feedback on their projects and take them in the right direction.
In order to participate effectively in these processes, members of Wings platform need WINGS tokens. Therefore, Wings coin can be considered to be the native cryptocurrency of the platform. Holders of WINGS token can select and evaluate ICOs, and forecast the success of these projects. For their efforts in the Wings ecosystem, users are rewarded through smart contracts.
Wings platform is built on the Ethereum Blockchain. Its process of decentralised curation is transparent and highly secure. In many ways, Wings platform is revolutionary since it gives crowd funders an opportunity to participate in the management of projects and give feedback to the creators.
Wings is relatively new in the cryptocurrency space, considering that it was launched in 2017. The platform has been greeted positively by blockchain enthusiasts and several projects have already been launched on Wings.
As for WINGS tokens, there is a cap on its total supply - 100,000,000. Of these 100 million, a little over 89 million are in circulation.
Where to buy WINGS cryptocurrency?
WINGS is an altcoin and in order to buy it, you will have to trade it for either Ethereum or Bitcoin on any of the major cryptocurrency exchanges. Some of these are Bittrex, Cex.io, Coinbase, et cetera.
As mentioned earlier, WINGS platform has been developed on the Ethereum Blockchain. Therefore, any wallet that is compatible with Ether should be compatible with WINGS tokens. You can also look at hardware wallets like Trezor and Nano Ledger S.
Alternately, the official site of Wings platform also has the option of creating a wallet to store your WINGS token.
At the time of writing this article, it is not possible to mine WINGS tokens.
WINGS Price Trends
At the time of writing this article, 1 WINGS token is worth approximately $0.41. WINGS, just like every other cryptocurrency, witnessed a dramatic surge in price between late December and early January. The main reason for this is undoubtedly the rising popularity of cryptocurrencies around that time. The price entered $2 territory during this period, although it failed to sustain that high for a long time. The cryptocurrency markets fizzled soon thereafter and as a result, WINGS price took a massive nosedive and shed its recently made gains.
Risks of investing in WINGS
As stated earlier, WINGS is the native cryptocurrency of the Wings ecosystem. It is particularly useful if you are looking to develop your own DAO or are keen on giving feedback to creators of blockchain based projects. Therefore, the market here is relatively small when compared to other major players in the industry like Bitcoin or Ether. It is hard to imagine WINGS as a feasible investment that is capable of generating steady returns in the long-run.
Furthermore, being a cryptocurrency, it is subject controversies and legal hurdles. Many governments across the world have openly stated their dissonance with cryptocurrencies - a move that has severely affected the value of these digital coins.
That’s why, until and unless you plan on actively participating in the WINGS ecosystem, it is not advisable to hold on to WINGS tokens. Instead, you can invest your money in safer instruments like mutual funds .