Phase 1: Tracking three phases in the journey of the Glitzkoin GTN token. The crypto was launched in 2018 and listed on a few crypto exchanges. While the project was backed by an excellent project plan, most of the development work had yet to be initiated. This was the scenario until early 2019. A significant number of crypto enthusiasts invested in the GTN token during that (first) phase. This group clearly had a thorough understanding, of the project and the potential of the Glitzkoin GTN token.
Phase 2: The second phase of the Glitzkoin project was the development phase. With a vision of a dynamic project that keeps evolving and growing, development work would happen as an ongoing process. Having said that 2 major areas for development include, the DiaEx diamond trading platform and the integration module to implement, the MyTicket.Asia – Glitzkoin partnership. Much of this development work was completed by 2020, as the tech team worked from remote locations when the COVID-19 pandemic raged across the globe. This phase saw an impressive increase in GTN trade activity. Token buying happened through existing investors and new investors, who had been tracking the token since the first phase. Very likely that crypto investors who had been tracking Glitzkoin GTN, through the first phase made their investments here.
Phase 3: Glitzkoin GTN token buying quickly picked pace in this phase – started in early 2021 as the world seemed to better understand and handle the pandemic. GTN trade volume increased triple fold in the second quarter of 2021, this for more reasons than one. Crypto exchanges lined up to list the GTN token and by the third quarter, the number of GTN exchange listings moved up from just 3 to around 10. The Glitzkoin GTN token gained exposure to a wider investor base, the result was a sustained spurt in GTN trade activity. Existing GTN investors added to their holdings, this as project development reached an advanced stage.
The Future: Any investment in the Glitzkoin GTN token, would be based on future prospects and potential. Higher levels of GTN trade activity seem sustainable, this as the project is better understood. The focus is now on increasing usage cases for GTN – mainly as a payment token. The DiaEx diamond trading platform that designates GTN, as the sole mode of payment is scheduled for a global launch in 2022. Implementing the partnership between MyTicket.Asia and Glitzkoin, would add another channel for GTN activity. The online ticketing giant would accept the GTN token as a mode of payment. Most of the development work for this implementation has been completed. The launch of the MyTicket-Glitzkoin partnership, will be schedule the moment pandemic restrictions are further eased.
Expansion Plans: While already being researched and discussed with other industries and business operators, these plans go beyond what has been stated in the project white paper. After considerable research we are now confident that, trading platforms similar to DiaEx could be developed for other industries. Exciting opportunities are likely to be laid out in the coming years. These platforms would incorporate the Glitzkoin GTN as a mode of payment. We are also moving ahead with more partnerships, similar to the one with MyTicket.Asia. In this case existing online business channels, would start implementing GTN as a payment option. The scope for expansion in these two cases is significant as, it can happen with no limitation on business or industry.
You now have a fairly good idea of the direction in which the Glitzkoin GTN is headed. The project has a good deal of ‘proof of work’ and the token, has proved to be stable and resilient. Yahoo mentioned GTN as one of the 5 cryptocurrencies that, withstood the severe Bitcoin and crypto market crash in May 2021. Go ahead and make your decision, let reason and logic rule!
GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token. The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.
The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token.
The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform. This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.
Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.