What is AMA in Crypto?
Many crypto communities on Reddit, Discord, and other social media platforms hold frequent AMA sessions for their members. But just what is an AMA and what can you get from attending AMA sessions? Read on to find out everything about AMA in crypto!
What Does AMA Mean In Crypto?
“AMA” stands for “Ask Me Anything”. As the name implies, AMAs are Q&A sessions where the organizer or “panelist”, typically a cryptocurrency coin developer or a crypto community leader of some sort, takes questions from members.
Generally, these questions are related to the initial coin offering or whatever crypto assets they’re working on. However, since it’s called Ask Me Anything, some non-crypto-related questions may show up.
Most of these AMAs are created as a way for the organizers to engage with their community better as well as make things even more clear for a given coin or crypto project. This can go a long way in convincing more people to spend their hard-earned fiat currency on it.
While AMAs are usually held live and last for a couple of hours, these questions and answers are usually saved so people can read through them later.
Where Did AMA Come From?
The concept of AMA was born on Reddit, specifically the “IamA” subreddit. People on that subreddit would start threads like “I am a security guard at a prison, AMA” and people would ask these subject matter experts. Over time, these AMAs didn’t just come from regular people but also from celebrities and other public figures offering an expert view on a given topic.
The concept has since spread to other social media sites and crypto community platforms since it provides the subject matter experts an easy way to connect with the online community and answer any burning questions they may have about their digital asset offering.
How Many Types Of AMA Are There?
Generally, there are two types of AMAs created by digital asset and crypto project operators:
This is the most common type of AMA, where subject matter experts directly answer questions asked by the community. Generally, live AMAs are held at a specific time slot and feature several team members as well as an admin or moderator. The moderator fields questions from participants and then directs these questions to team members so they can share an expert view about the topic.
Q&A AMA sessions are less common and usually done when team members cannot attend a live AMA. These sessions usually see the admins opening up a question box of some kind on social media sites to take questions from the community. Afterward, the crypto project operators can answer the questions in their own time.
Where Can You Find Cryptocurrency AMA Sessions?
So, where can you find AMA sessions for crypto and non-fungible token projects? You have several options:
- Cryptocurrency communities on Subreddit
- Specific crypto or NFT projects on Discord
- Crypto project Twitter accounts
- Telegram groups run by the project administrators
- Crypto exchanges
Benefits Of Attending Cryptocurrency AMA Sessions
What makes a cryptocurrency AMA a must-attend event if you’re planning to know more about a certain digital coin or non-fungible token project? Here are three reasons:
Get A Better Idea Of The Project
Sometimes, there are things you can’t find in a digital currency project’s whitepaper or community discussions. AMAs help you get answers because you can ask any question you want to the project operators before the coin goes on sale on a cryptocurrency exchange or auction platform.
Make Your Voice Heard
AMAs are a great way to make your voice heard. In addition to asking questions, you can also voice your concerns and opinions about the crypto or NFT project openly.
Receive Exact Answers And Eliminate Paper Hands
Instead of getting answers possibly influenced by personal opinions from community members, you’ll get a direct expert view from team members in an AMA. This way, you can formulate your own opinions and decide how to react to any issue being brought up. By making informed decisions, you also avoid weak hands and FOMO.
What Do You Need To Ask In An AMA?
Because it stands for Ask Me Anything, you can ask whatever you want in an AMA. Here are some important questions you can ask in a crypto or NFT project’s AMA:
- What are your plans for this project?
- What do you think makes this project worth investing in?
- How much are the royalties on digital token resale?
- What’s the valuation of this whole project?
- What are the coin’s floor price and price target?
- Can you explain the coin’s smart contract capability?
AMAs are a great way to get a good feel of a crypto or NFT project. They let you get answers to any questions and concerns you may have, which helps you make informed decisions and invest in the project with confidence.
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