AndoToken, a cryptocurrency project

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John Anderson

Cryptocurrency is the new trend these days. Everyone – and I mean EVERYONE – is hopping on the bandwagon to bag themselves with cryptocurrency that could most ideally last them for a lifestyle. It’s not an easy thing to attain; trust me, I have tried. It’s a tough, sometimes frustrating venture to fully invest your time and effort into; but, as the old saying goes, nothing good comes easily.

However, once you’ve committed yourself to the brutal process, you’re mostly well on your way to becoming a cryptocurrency genius.

The cryptocurrency startup has many interesting features; for example, their non-fungible token (NFT) market place. With this utility, artists and creators can sell their art via the AndoNFT Marketplace. Don’t believe me? Guyanese John Anderson did so with his cryptocurrency project, and it skyrocketed to a whopping US$300,000 market cap just within a few days of launching. Now, if that’s not motivation enough for you to start investing in cryptocurrency, then I don’t know what else is. Maybe Anderson’s cryptocurrency project, AndoToken, will convince you.

AndoToken is a cryptocurrency project which is getting the attention of many international investors. It was conceptualised by John Anderson, a Ph.D. candidate and crypto enthusiast, and a native of Goed Fortuin, West Bank Demerara. It is the first project of its kind from a national of the Caribbean, and it is positioning itself as the Caribbean’s first cryptocurrency agency.

AndoToken’s vision is to bridge the gap between ordinary people and the crypto space.
Anderson, the cryptocurrency enthusiast, has said the world is rapidly developing on the basis of technological advancements, and because of this, he thinks cryptocurrency has a vital role to play.

“We live in a fast-developing world, with rapid changes in the way we do things, powered by Internet and its universe. Cryptocurrency and its unique decentralised finance (DeFi) mechanism have an integral role in these changes. This has led it to be adopted in various countries, and, for example, becoming widely traded on Wall Street and integrated within the legal structure of major world economies via regulations,” he explained.

“Cryptocurrencies also offer lower associated fees and more cost-efficient transitions. It is used for implementing the shift to a global and open new digital economy. As a result, our goal is to make sure the technical capacities and economies of Guyana and the Caribbean aren’t left behind during this technological advancement,” Anderson has said.

The team at AndoToken are not just creating a crypto, for example Bitcoin, but a whole ecosystem of utilities that would create demand for $Ando – the native token of the project. These utilities include several blockchain video games which would be launched on iOS and Android; a social media platform, a non-fungible token (NFT) market place, their own Metaverse, and several DeFi projects for cryptocurrency transactions. Their aim is to build “a one-stop-shop” for all the crypto needs of potential crypto enthusiasts. This means a person can carry out all their transactions without leaving the AndoToken site.

Okay, I’ll explain. An NFT is a digitalised token in the form of pictures, videos and music that are uploaded on a cryptocurrency network known as a blockchain, and can be sold or traded at a premium price.

With the AndoNFT Marketplace, Anderson believes that Guyanese artists and content creators can largely benefit from this.

“We believe local artists, musicians, and content creators in Guyana can take advantage of this unique feature of our ecosystem. The process will be extremely simple and similar to uploading content to a social media platform. The NFT Market is a billion-dollar industry, and it is our vision to put Guyanese talent out there,” he said.

AndoToken will also be developing several video games or blockchain Play-to-Earn (P2E) Gaming. This is a new feature of the Decentralized Finance Universe, wherein persons can play video games and earn tokens, in this case $Ando. For example, imagine playing Super Mario and all those coins collected had a monetary value attached; that is what Ando P2E and blockchain gaming are all about – incentivising the usage of cryptocurrency within video games.

Now, being the avid gamer that I am, this sounds like a dream come true, so I am sold already.

Another interesting feature of the Ando Ecosystem is its Business United States Dollars (BUSD) Dividends. BUSD is a pegged 1:1 stable coin to the US Dollar.

This is what Anderson had to say about BUSD Dividends.

“It is a fact that cryptocurrencies are high-risk assets because of their price volatility. However, we at Ando have devised a mechanism to mitigate this ‘disadvantage’; that is: by simply holding $Ando Tokens in your cryptocurrency wallets, you can earn BUSD rewards, which are pegged against the USD Dollar at 1BUSD=1USD. With every buy/transfer/sell transaction of $Ando tokens, our smart contract redistributes 4% of the transaction to $Ando holders directly to their wallets. This redistribution process is fully automatic, and each holder gets their share in proportion to the amount of $Ando they hold. This is an excellent way of earning passive income on your investment.”

When AndoToken was launched, it was so done on the basis that it would be led by a solid business plan, and utilities designed to bring fundamental value to the project and ultimately its investors. This is what the team at AndoToken believe is lacking in many cryptocurrency projects and start-ups. The AndoToken team is business-focused, and comprises nationals of several countries. Their investors are from over 35 countries, with the largest coming from North America and Scandinavia.

Ando Token is expecting expansive growth within the next months, as talks are currently being held with an international marketing agency, and the process of establishing headquarters and registering, if possible, in Guyana is being explored.

“It is my hope for the possibility of establishing our base in Guyana and creating meaningful employment opportunities for my fellow citizens. As a country, we are currently undergoing expansive development and growth, propelling our oil and gas industry; however, I believe this transformational growth can further be aided by Guyana becoming the ICT and DeFi hub of the Caribbean. I am extremely optimistic about our future and vision, and will continue to strive to bring recognition and prestige to my cuntry,” Anderson has said.

“I am now even more excited about Guyana’s future now, knowing of the many opportunities I have to gain cryptocurrency, ideally through AndoToken. I’ll definitely be seeing you guys on the AndoToken website”.