It began with a conversation between two long time friends.
Whilst discussing their shared interests in investing in cryptocurrencies and blockchain technology, Phil and Karl came to the dawning understanding that they were spending more and more of their conversation focused on discussing the numerous scams (and rugpulls) that had begun plaguing their investments.
As they continued the conversation began to turn from complaining about these scams, to discussing that something needed to be done about it. After a few more minutes, they concluded, that yes something needs to be done to combat it, and we should be the people to do it.
A large part of their initial conversation after this conclusion became focussed on the understanding that these scams are only going to get more devious and numerous. As the cryptosphere continues to grow (and more blockchains begin to create smart contract ability, allowing for the creation of tokens) it soon will not be just mostly Ethereum and Binance that suffer from these scams.
Phil and Karl concluded that not only was it awful for the investor to have to constantly worry about losing their (hard earned) money to a scam, but it was also an awful situation for the numerous legitimate projects that were being buried under the mountains of scammers. These legitimate projects are having to spend half their time reassuring nervous investors that they are not a scam. This is energy that should be focussed on discussing the actual project and gaining the excitement and interest of the early adopter investor.
We personally know that awful feeling where you invest in a project in either a pre-sale or fair launch (possibly through pancakeswap) and then sit there for the first few minutes, hours or days, hoping that suddenly the website doesn’t disappear, and the Telegram group suddenly get deleted.
So much money is being wasted every day on scams. Money that if spent on legitimate projects could both help the investor in their journey to financial security and help better the world through the use of exciting and innovative new crypto-projects.
There will always be the devious and criminal element in any endeavour that will try to steal money from the honest and genuine person but our mission at Nanuqe will be two fold:
To give another tool to the investor so that they know the people they are intrusting their (hard earned) money with have been through our Due Dilligence process. That their personal documents have been checked and that we know their identity is of good standing.
To give the honest, decent, hard working project teams another ability to prove to potential investors that they are trustworthy. That they have allowed their documents to be verified, meaning that they are not anonymous to us and therefore much less likely to be up to no good.
Why the name Nanuqe?
In his time as a medevac Pilot, in the arctic regions of Nunavut, Phil became interested in the local cultures and beliefs. He found the native people of that region to be incredibly friendly, self reliant and interesting. In researching the Inuit culture Phil came upon the legend of Na’nuq. The Inuit people believe that Na’nuq is the master (or tamer) of the polar bear, that Na’nuq would decide on how the bears reacted when approached by an Inuit. It is incredibly interesting, as is the rest of Inuit culture.
Phil and Karl decided on the name Nanuqe as it is not exactly the same as Na’nuq, however pays respect to the name of the Master of the bears. As we all know the bears in cryptocurrency investing are something to be tamed, as bearish behaviour often comes from Fear, uncertainty and doubt (FUD). FUD in some part is caused by these scams and scammers that are plaguing our Cryptocurrency investing.
It is our hope that Nanuqe will be a strong tool in the controlling and the taming of the Cryptobears.