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One of the more interesting crypto experiments in recent years was the TaaS project and token. This project functioned as a tokenized fund, which allowed people to invest in digital assets by purchasing the token.
Quarterly profits from the TaaS project fund were distributed to token holders. However, it’s now shut down. Although the token still exists and can be bought and sold, the fund no longer exists.
If you’re interested in learning how to invest in TaaS, here’s what you need to know — and a possible alternative to TaaS.
TaaS basics
| Name | Token as a Service |
| Ticker symbol | TaaS |
| Year established | 2016 |
| Blockchain | Ethereum |
| Total circulating supply | 8.146 million |
| What it’s best for... | Speculators who believe the now-defunct token could be worth something later. |
What is TaaS?
Token as a Service (TaaS) was founded in 2016 and designed to help people invest in cryptocurrency and blockchain technology with ease. It existed on the Ethereum blockchain as a smart contract and used a token-as-a-service business model, which focused on making things easier for investors. The TaaS project was designed as an investment fund.
Investors would buy the TaaS coin, and the fund founders, Ruslan Gavrilyuk, Konstantin Pysarenko, Dimitri Chupryna, and Maksym Muratov, would distribute earnings from blockchain investments to token holders. It was the first tokenized fund, and distributed 50% of its profits quarterly.
However, in the end, TaaS ended up shutting down the fund after claiming to support more than 35 early-stage projects. The founders decided to distribute assets to token owners. The token still exists, even though the project is shut down and is no longer paying out profits.
Unfortunately, even the best cryptocurrency exchanges don’t support an easy way to buy TaaS at this point.
How much does TaaS cost?
Currently, TaaS is untracked by major markets and exchanges, though CoinMarketCap lists the last TaaS price as 84 cents. Tracking historical data is difficult, as the token is no longer available and is no longer tracked.
What are some alternatives to TaaS?
One potential alternative to TaaS is Solana (SOL), a blockchain platform used by the Pyth network. CoinShares, Europe’s largest digital asset investment platform, recently joined the Pyth network and participated in the SOL token sale in 2021.
SOL might be one alternative to consider for those interested in the future of tokens as asset investment services. You can buy SOL on popular crypto exchanges like Kraken. Read our full Kraken review for more information.
FAQs about TaaS
Can you buy TaaS on Coinbase?
No, TaaS is not available to buy on Coinbase, though you can add it to your watchlist if you're interested in tracking its performance over time. It can be difficult to find on major exchanges. But if you want to invest in alternative crypto assets like Bitcoin (BTC) or Ethereum (ETH), Coinbase could be a good place to start. Read our full Coinbase review.
Is it still possible to buy TaaS?
Yes, you can still buy TaaS. However, you usually have to go through peer-to-peer exchanges. One option is to use Etherdelta. However, you need to buy ETH first.
You can buy ETH on a major exchange and then direct it to an outside wallet that you can then use on an exchange where it’s possible to purchase TaaS. As you learn how to buy cryptocurrency, it’s important to be wary of scams. Some peer-to-peer exchanges are poorly regulated, and scammers can be a threat.
Is TaaS a good investment?
Whether TaaS is a good investment will depend on your goals. Because TaaS is no longer operating as a fund, you won’t receive regular returns. Owning the token can be speculative, if you think you might be able to sell it later for a good price. But, without a practical use right now, TaaS might not be a good fit for your portfolio.
Bottom line
TaaS was an exciting concept designed to make it easier for investors to access various digital assets and blockchain startups. Operating as a tokenized fund, TaaS offered profit-sharing every quarter, based on token ownership.
However, the project is shut down, and all the assets have been distributed. At this point, the token still exists, but it might not be suitable for investment because the idea of the price increasing is entirely speculative. When investing money, carefully consider your financial and emotional risk tolerance, as well as your individual goals.