In a fairytale style of success, one of Ethereum’s first tokens, Golem has risen almost a 100 percent overnight. It is now ranked number 11 on CoinMarketCap.
Cointelegraph asked investors of Golem, that some call the Airbnb for computing, what is driving their asset to such heights.
One of them, William Pappas, maintains that the most important thing for the long-term intrinsic value of the Golem Network is the quality of the software development, the ability to attract customers and let grow the community, a few other important factors and finally a little luck.
"Favorable outcomes in those endeavors will not come about without a high-grade team—and this is where Golem shines," Pappas asserts. The Golem team is highly capable, determined and one of the best in the entire crypto space.
The Golem investor is convinced that these factors coupled with the value proposition and potential of a global computer network is as good a recipe for success as one could hope to find.
Pappas adds:
"I'm not interested or concerned with short-term price movements of the token. I'm most interested in the successful development and building of the business."
Better economics
For Peter Kenneth Martin who invested in Golem's ICO and studied it a great deal, two factors account for the Token's tremendous accumulation.
Martin thinks in the first place Amazon Web Server is bound to be a trillion dollar business because the Internet is getting bigger and everything needs to have a server.
"Golem is a project that will execute what AWS plans to achieve but with much better economics for end users," Martin adds.
Secondly, people have been waiting to get their hands on GNT since the ICO. Big exchanges have been slow to add it -- which left people with big amounts of money frightened to trust smaller or decentralized exchanges.
Martin had this to say when asked whether the gains are sustainable:
"Yes, it's just the beginning. The long-term prospects are promising because of the big problem and big market they are taking on. Short term they will be launching their first product around April/May so I expect the price to be much higher than it is now leading up to that time."
Don’t look at the hype
He did not mince words in responding to claims that the sudden success of Golem might be pump and dump. In his view, people should try the alpha and take a look at the transparency of the team. Also If they were trying to build a pump and dump, they would have chosen a much less complex project to build.
For those who are interested in investing in Golem, Martin thinks It's going to be very hot, but the prospective investors should take a hard look at the team, project and progress first and think for themselves not just reading into the hype.
"If you find that it's right for you, buy and hold. There will only ever be 1 bln GNT and over the next few years it will be worth a lot as companies use the Golem network to run their companies," the investor explained.
Real world function
On the part of Lord Nima, Golem is the first decentralized project the community has seen, where you can rent out your computing power to those who need it, like CGI artists, for example. In his opinion, it's just like Airbnb for computing which anyone in the world can get involved in.
"Just like mining Bitcoins you just need computing power and those with more power can earn the most. Apart from that Brass Golem which is the first release of Golem will go live in a couple months, so investors are already starting to participate," Nima revealed.
But on the issue of pump and dump this is what he said:
"I suggest to them to research on Golem just like how I did. The team has been presenting Golem since Devcon 1, the idea is pretty amazing and something that will be well received by mainstream users including my friends who are not into Crypto, but when I told them they can rent out their computing power and earn some money, they were hooked."
Moreover, CryptoMagician the current are marginal and they are only sitting at about two to three times of the ICO price. He thinks the crypto world has seen much higher from far inferior coins.
He differed right away that Golem's rise is a pump and dump:
"They are speaking from what they have seen from other coins... what they don't understand is that Golem is unique. The token has utility. Not only is there a real world function, there is a strong and dedicated team behind it. I understand where they are coming from, but I respectfully disagree."