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D+ Investment Grade



Loom Network recently announced that it will pivot away from game developers as a source of growth and instead focus on enterprise blockchain in the healthcare and government sectors.

The announcement was followed by media reports that raised concerns about the future of the project. Bruno Skvorc, the owner of blockchain and cryptocurrency education platform Bitfalls, tweeted: “telegram shut down, Reddit dead, blogs silent, core team gone. I’d call it an exit scam if there was anything left to exit with.

Unfortunately, many of the concerns that we shared in our Initiation report on Loom have materialized, hindering the project’s development.

Loom faced many challenges over the past year. It was difficult for the project to attract outside dApp developers, even though its infrastructure could handle 10-times as many transactions at a tenth of the cost of Ethereum. Nevertheless, Loom was unable to monetize the distributed applications built on the platform to help bootstrap its long-term development.

Now the team is trying to pivot to enterprise applications. However, the new growth strategy raises further concerns.

First, there is immense competition in the enterprise sector, with a variety of private and public solutions. Second, for the most part, enterprises do not want to deal with public chains and any kind of tokens. And third, integration with enterprise players can take years before there are tangible results. Loom Network doesn’t have that much time to turn things around.

Even if the switch to enterprise strategy is going to be more or less successful, it is unlikely that enterprises will use Loom’s public chain, in the short to medium term.

Given these factors, Loom Token Holders are unlikely to benefit from the project’s switch in the near-future. For these reasons, the project has been downgraded from a B- to a D+.

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Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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