10 Ways To Spot The 1% Of Crypto Projects That'll Survive The Next 3 Years
Most of the things you see in crypto today, will most likely be dead and buried 3 years from now.
How can you tell which projects are most likely to survive in the long run?
How can you tell which projects are most likely to survive in the long run?
1. Study (in-depth) the history of money and markets
2. Beware of first mover disadvantage
Friendster came first. MySpace came later and did better. But Facebook buried them both. Yet now it's getting manhandled by TikTok. Beware of projects that are the first to try the field.
3. Does the project actually have a legit reason to exist?
But does the project actually have a reason to exist?
Is it offering actual utility that needs to be provided? Or is it just there for the sake of being there and can be easily replaced by hundreds of other alternatives?
4. Strong, established branding makes a massive difference
And the reason for that is... it helps a lot with...
5. Crossing the chasm from innovation and early adoption to the mass market
Does the project have what it takes to cross the chasm?
6. Psychology trumps technology
The problems happen when it comes to understanding psychology. And how people actually behave. Which most projects founders are still clueless about.
Is the project being run by people who understand how the human brain works?
7. Invest in people, not ideas
Do the people running the project have a track record of success? Not just technology wise, but psychology wise.
Are they operating within their areas of strength and competency? And do they have solid fundamental understanding of business, management, finance and marketing principles?
8. Avoid extremes
Project founders tend to create stuff that throws out the baby with the bath water.
They throw out the benefits of fiat and centralization along with all the disadvantages. And end up creating something at the other end of the spectrum that ends up being extremely unstable in the long run.
9. People tend to become what they strongly disagree with in the long run
In many ways, crypto project founders have been trending in the same direction they disagreed with. Trying to keep the newcomers out. And building an elite inner circle or community.
Is the project you're looking at starting to become what they set out to avoid in the first place?
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