Rise & Fall of a crypto startup — Why I am bringing it back to life, and how YOU can help me!
From one of the most promising french crypto startups of 2021 to the hell of the bear market, here is the story of SwingSwiss, the company I just took over.
Introduction
When I left my job in 2017, I learned Java, Python, and Pine.
I developed dozens of trading indicators based on my experiences as a bank trader.
But I never marketed my knowledge. My work was only for personal use.
About a year and a half ago, I sought tools, concepts, and theories to improve my setup (the TMI).
I came across a startup called SwingSwiss. It was relatively well-developed in the crypto-French community and had ventured into the Asian market as well.
SwingSwiss offered a set of trading tools based on volume analysis. They found volume patterns in the micro TFs and used crowd behavior theories to project trades on the macro level. The concept attracted me immediately.
I got in touch with the founder. We talked a lot, I gave him some advice, and he shared his raw research. No filters. Pure gold.
However, I was disappointed with their basic offering. The tools were at a different level than the research elaborated by the founder.
The company deserved more experienced customers, but the management needed to do more. Instead, they stuck to their simplistic, beginner-friendly tools.
At that time, everything was going too well, and the management didn’t want to bother with changes, thinking they already had the magic recipe. It was an intense bull market, and the business was growing exponentially…
Some milestones:
- 8K+ licenses sold in 15 months
- 14K Twitter Followers
- A super-active Discord community
- Strong relationships with CT influencers
The beginning of the end.
The company dreamed of expansion and embarked on the rather pretentious project of building crypto’s first Bloomberg terminal.
So what better way to finance this project than to launch an NFT collection? — (Me being sarcastic.)
The NFTs needed utility.
First, SwingSwiss stopped selling their indicators as NFTs were now the only way to access the tools. Then the company proposed passive income to NFT holders from the future Terminal.
SwingSwiss committed suicide by consciously agreeing to stop selling its only product!
The collection sold out almost instantly, but there were only 1,000 of them.
It was a year ago, almost to the day. Since then, the company has had no revenue, and every month the management spent astronomical amounts of money on financing the Terminal.
Despite the bear market, they were moving forward like blind men, refusing to face reality.
Results:
- Made no money
- Dying community
- Poor brand image
- Confusion about SwingSwiss true purpose
The turning point.
The founder was auto-financing the Terminal for months. Nevertheless, he continued to believe in the project until a hacker deprived him of his biggest wallet. The guy was a brilliant trader but too emotionally involved to run the company.
We were still in touch, and by that time, using his research, I had managed to develop long-term strategies for $ETH I was very proud of.
Read: The Bionic Strategy — Or how all algorithmic trading strategies should be developed
I had been suggesting significant organizational changes for months, and only now was someone willing to listen to me.
I also knew I had the capital (they did not) and the desire to revive SwingSwiss. We had to stick to what we do best, developing high-end trading indicators.
Taking Over
I already had access to the hundreds of indicators/strategies developed by the founder and the research papers.
I had the choice of closing the company and starting a new, fresh venture or taking over the sinking boat.
Both options were great. There is so much brain value in their archives we could build the best trading setups using only what is already developed.
But, I valued the community and wanted to give them a chance. So, I decided to keep SwingSwiss alive and make our community stronger.
I joined their ranks and chatted with them every day from day one.
During my first month (this November) as a CEO, I focused on the product and updated all the tools to offer a homogeneous setup for both short-term and long-term trading strategies.
What now? Join me!
Our support and resistance tool, as well as our trend analysis software, were updated and are ready to use.
My focus is now on developing two sets of signals for pro retail traders, which could be turned into strategies for less experienced ones— I want them to be short-term crypto and forex. The community is currently testing both.
SwingSwiss was born with crypto in mind, but FX will be our redemption.
2023 will be incredible for the FX market, especially in Asia and the US. SwingSwiss will be an active and significant player in this trend.
Business-wise, we need to give the brand a marketing glow-up. It has suffered a lot from the NFT project, and we also need to get away from the French-speaking community. We need to build long-term partnerships with trading communities, exchanges, and influencers.
I am looking for a team of multidisciplinary talents worldwide to join me as partners and make things happen. Whether you be a community manager, a social media marketing guru, a talented sales executive, or a content creator, contact me!
