Recently COINBASE added district0x to their list of tradable assets. With Coinbase being such a picky exchange I decided to look into this coin and see what it was and what it did.
Coinbase has within the last few months added several new cryptocurrencies to their exchange. Since Coinbase is such a picky exchange when it comes to the coins that they chose most of them are ones we have heard about them and they are more "mainstream" one might say. However, when I dug into district0x (DNT) it was apparent it was not a "mainstream" coin and was definitely not as well known as other coins.
district0x's History
district0x was born during the ICO crazy of 2017 and was an extremely successful ICO raising at the time $9 million or 43,170 eth. This amount was raised despite the fact that citizens or residents of the United States could not partake in the ICO due to financial regulations. Initially, the project had a ton of hype around it but when the ICO bubble burst it took with it district0x.
So What Now?
Slowly but surely the team in charge has built out their network. district0x's goal is to link different decentralized marketplaces. These market places are called districts hence the name. As of now they currently have 3 different ones including meme factory. Thanks to the addition on Coinbase and the DeFi craze applications like district0x have appeared in the spotlight again. The district0x tokens vote on different policies and districts being accepted into the network.
Taking a step back and looking at the larger picture decentralized market places are extremely fragmented and you really have to either know where to go or wander the web to try and find reputable ones. If district0x is able to pull this off and bring together more and more markets its network has the ability to be extremely valuable. However, that is a big if, and hence the coins being work only a few cents apiece. If they can do it and they have shown slow but steady progress in doing so the sky is the limit for the value this chain and network can have. Giving people an easy on-ramp to decentralized marketplaces is something that is currently missing and I have not come across anything addressing this issue so maybe just maybe district0x is the answer? Only time will tell how this continues to develop but fingers crossed it does work out for the ease of regular people in the world.
