The crazy hype will drive new companies to the market. Let's make sure we force them to step up their standards

As someone who got into the market several years ago, I saw hundreds of different projects coming up in the blockchain space. Most of them disappeared within about 2 years of launch despite raising millions of dollars. Here’s some more context.This is how I personally determine if a blockchain project has potential or not. You are more than welcome to add your insights in the comments section. Hopefully, this post can save you some time and money.Team’s Credibility: Go to their LinkedIn profile and check their previous history. Are they calling themselves“blockchain experts” after 2 years of working in an ICO company? I always like to find teams run by real developers who joined a project to build a real product.Online presence: Do they have a Linkedin company page? Crunchbase? Do they have a subreddit or any sort of group where the community can ask questions about the project? Do they have a history of kicking people from their subreddit only because they asked some hard questions?Code: I’m not a developer but I do understand that a company’s Github page activity can tell you a lot about their team and community. If they have one, you can go to their Github page and check it out. Some sites like Coinpaprikalet you check the Github stars, commits, and contributors.Progress: Are they declaring that they are going to change the entire industry in few months but don’t even have a live product yet? That’s a warning sign in most cases.Marketing: Blockchain marketing is different than marketing in other industries. The main reason? The community. We can make a projected rise or fall just by liking it on /r/cc. Blockchain companies focus on high-quality blockchain marketing campaigns. Here’s a great resource that explains how you can run a blockchain marketing campaign in the right way.Design: When a company has a great design and copywriting that makes their ideas easily understandable, it means they understand the importance behind branding and are more likely to get people outside their blockchain market to hear about them.Do they solve a real-life problem? Or do they just sound good and use dozens of buzz words?

Submitted January 20, 2021 at 07:02PM