How to Distinguish a Profitable Project from a “ Fly-by-Night” One?
Today there is a myriad of NFT-projects. How to understand what is worthy of attention and what is just a “bubble”? Let’s set the stage.
What Sort of “Fruit” Is It?
When newcomers get to the OpenSea blockchain marketplace or look at projects on Twitter, they can’t stop wondering about the diversity of uniqueness and… uncertainty. It’s hard to understand what kind of “fruit” you have in front of you.
Brands
There are well-known projects, but often their development ends with the purchase of a branded NFT. Their advantage is an excellent marketing promotion. You can make money in such a project by reselling its NFT at a higher price.
“One-Dayers”
The second category of projects are when the creators do not have a clear idea of the future of the project. Therefore they operate for some time, and then stop functioning.
Income-Generating Projects
The third variant is a project with an objectively reliable development policy. There are many such projects within the GameFi environment. They are based on the principles of metaverses, but most importantly, the players are rewarded for successfully completed tasks with utility-tokens. The larger and more active a project’s community is, the faster the value of utility-tokens grows.
REFERENCE:
Utility tokens are not cryptocurrency, but they can be easily exchanged for cryptocurrency. Project coins can and should be used to make payments within the metaverse.
How Do You Find a Profitable Project?
There’s one surefire way — the AMA!
Visit a project’s AMA and make sure it has:
- an official whitepaper
- smart tokenomics
- economic benefits for community members
REFERENCE:
AMA (Ask Me Anything) is the meeting at which developers, producers, and project managers answer any questions from the community. Such conferences in the Q&A format are most often held on the Discord or ZOOM.
The answers of the project representatives allow to understand at once what to expect from participation in the project. If there is no clear strategy, lack of specificity, no economic basis, then it is unlikely that such undertaking will result in something worthwhile for you personally.
The Key to Success
Own Utility Coin
Real profitable projects have their own coin (utility token). If you are interested in income, find out the expectations for its capitalization.
For example, the utility token of the GrabCoinClub project is a GC token. The project has issued 6,000,000,000 GC coins and will raise its value to $1 per token. Therefore, the capitalization of the token will be $6,000,000,000 without taking into account the total value of all GrabCoinClub products.
In the GrabCoinClub project, users can raise the level of their FiHunters Avatars by buying special food for them for GC tokens on the marketplace. These tokens can be used to pay for services and goods within the MetaMind Metaverse.
Over time, GCs will increase their value exponentially. Therefore, the more GC you manage to grab, the more income you will get when you transfer GC into cryptocurrency.
Utility tokens can be compared to shares owned by a company. Such assets are often transferred to their investors during a public sale known as an ICO. GrabCoinClub distributes its utility token not only to investors, but also to participants in GIVEAWAY contests as well as other project activities. In fact, the project considers anyone who has invested their time in participating in the project to be an investor.
“Angel” Investment
The successful development of the project is 90% guaranteed if the project is initially backed by “angel” investors who entrusted their money to the developers. Financial commitment increases the level of responsibility and has a positive effect on the quality of the product.
Professional Team
It is important that the project is handled by people who understand what they are doing and why. You can assess the level of the team by visiting the project website. A project that is proud of its developers will definitely indicate their regalia and personal social networks in the “Team” section.
The team should include not only marketing specialists, but also financial experts who take care of the economic benefits of the project for all its participants.
The hallmark of a worthwhile project is the identification of the producers and founders of the project, in other words, the people who are responsible for the course of events on the project. If they openly declare their persona, it means they count on the positive development of the project, and this is an excellent reason to develop together with them.
SUMMARY
A profitable project is one with which you can financially benefit from. Do you agree? So let the hype pass you by and figure out the economic basis on which the project theory is built, onshore.
Evaluate:
- The quality of the project during the AMA
- The level of openness of the creators of the project
- The transparency of the financial scheme of development
And we invite you to GrabCoinClub! All the information about the project is available on the official website.
