Projects, teams, communities, and token economy are the four key elements to be looked for in any crypto entrepreneurial project.
Written by: Tom Shaughnessy, founder of Delphi Digital Translation: Lu Jiangfei
Delphi Digital is an independent research and advisory organization that provides institutional-level digital asset market analysis services. The company’s founder Tom Shaughnessy shared in his “Delphi Daily” column how to let crypto founders and projects build their beliefs.
Tom Shaughnessy believes that building a belief requires integrating multiple factors and content, including:
- team
- product
- community
- Token economy
- How to publish a project
Founder
You definitely want the founder to be charismatic (you can give a viral narrative) and technical strength (that can surpass all competitors).
However, project sponsors usually do not have the above two conditions, so you look for founders who can delegate themselves to the community to develop the project faster.
product
You cannot rely on copy/paste competitors to achieve success.
The project you want to deliver must be able to bring people a novel and magical user experience.
The project should remain static = death, so you need to keep output and keep innovating.
In addition, you also need to focus on product/market fit, and other similar things.
community
It is hoped that members of the encryption project team will take community feedback seriously and be inclusive at the same time.
Amazing products can drive the community, because you want to attract the smartest builders/financial people so that your products can also be iterated quickly.
A solid community will make your product grow, just like “returning profit”.
Token economy
Value creation does not mean value acquisition.
Make sure that the token is absolutely important to the project and that it can get value now (or in the future).
UNI, RUNE, SUSHI and other tokens can all gain value. In contrast, MKR and GNO have little effect.
Ensuring that participants are provided with appropriate incentives (returns on profit farming) is essential to attract those who will help move the project forward.
Make sure that your token project “treasury” is active, not idle. Team incentive tokens must be locked, and in some areas of incentive growth, the rewards you provide must be flexible.
Project release
“Hyper” can indeed make your products sell well. Everyone wants to enter the VIP club. Sometimes it is a good thing to do some “hunger marketing” (just like shopping in a line).
First of all, you have to make your project “mysterious” and to attract VIPs, but you must make sure that the project is open to the world.
“Mercenary” capital can be used, you know, not everyone is interested in technology, so you might as well use marketing strategies.
to sum up
Projects, teams, communities, and the token economy are all key elements that allow crypto founders and projects to establish beliefs, and none of them are indispensable. As the project receives more attention, the average level of your project will increase and the number of “winners” will increase. But if the situation is the opposite, you may need to “retire”.
Source link: twitter.com
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