[PRESS RELEASE – Please Read Disclaimer]

14,000 projects exist on CoinMarketCap, and regardless of their existence as a layer 1 or 2, a DeFi, NFT, or metaverse protocol, the macro and micro headwinds facing all blockchain projects in this bear market are brutal.

How prepared are crypto projects for this bear market?

According to Invest In Blockchain industry study, only 36 of the top 100 cryptocurrencies have working products and less than 50% of all projects with a token provide real utility to the end consumer.

Projects in Survival Mode

The bull market opened up the floodgates for budding entrepreneurs, innovators, and developers. When fueled with generous VC funding projects flooded into the crypto market and sprung fanatical hopium-driven communities. The bear market has highlighted the negative effects of too many people spending too much too quickly in the crypto industry. Market participants have seen projects created without considering the problem, protocols that are not market-ready or projects trying unsuccessfully to gain market share in an already saturated and overforked market.

Coupled with the war on inflation, spiking energy prices and a crypto market that has dipped 60% since November 2021, projects have had to shed headcount, delay product launches and tighten their belts to survive the winter ahead.

The protocols aren’t dead but developers and traders cease updating the project and traders cease trading the asset, the community’s growing demands and FUD about when progress stalls or utility diminishes becomes louder.

Introducing the Candy Club, Instantly Elevating token Utility

In light of the existing situation, Candy Club has launched the world’s first altcoin social casino where all ERC20 & BEP20 token projects can seamlessly swap their utility token for its CANDY derivative and enjoy the world’s most popular casino games, live casino games and slots.

“Altcoins are experiencing declines across the board, in marketcap, DEX trading volumes, community and social engagement, virtually every measurable metric. More than ever projects need to provide additional utility to their project and community in order to survive the bear market.” says Josh Galloway, President of Candy Club “Social gaming has proven time and time again to not only outgrow and thrive by providing content that is social, entertaining and engaging.”

The global social casino market is valued at US$6. 83 billion in 2022 and estimated to grow to US$8.7 billion by 2026, it is a nascent industry with endless room for growth. Candy Club was the first to offer this feature. Only a few tokens of cryptocurrency utility tokens were able to be used as playable currencies within these social casinos.

Revive your Community & Crypto Project

All Ethereum and Binance Smartchain utility tokens can be accepted in the social crypto casino as playable derivatives. This allows all altcoin projects, as well as their passionate communities, to take part in the social crypto casino blue sea. Candy Club is legal compliant and has been security tested. It will offer a social casino experience that’s fun and engaging.

Token utility for Ethereum and BSC projects. Candy Club offers a revenue sharing program that allows all members to join Candy Club’s social cryptocurrency casino revolution.

About Candy Club

Candy Club is the world’s first social altcoin casino that accepts all Ethereum and Binance Smart Chain projects with a ERC20 or BEP20 utility token. Legally compliant and security focused, Candy Club opens the social crypto casino gaming experience to over 14,000 cryptocurrency projects and over 73 million wallets.

Telegram: https://t.me/candyclubsocial

Discord: https://discord.gg/hTt5uteKzW