unifresh.eth
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5 Things I Look For In Projects and Projects

Every day I receive multiple DMs of people asking me how I choose projects to invest in.

First of all I have to say: if you do not have more than 1-3 eth long-term investing is most likely not the best strategy for you right now. Stick to flipping WLs and short-term investing.

1). Team / community

What I look for in teams is usually passion, drive and honesty. From what I have witnessed experience is not the thing that dictates the success of the NFT project.

MANY projects with experienced teams often “FLOP”, due to the teams usually consising of “WEB2 bussinessmen” who see NFT projects as easy money and not an actual business / community of real people who invested their hard earned money expecting to get something in return.

This does not apply to teams built of hungry / passionate (usually younger) founders with actual WEB3 experience. I will use @NFTLlama and @Niftyportals team as examples. I found @NFTLlama very early on and these are the things that caught my attention:

He DID NOT care about the money. His first project Llamaboosts (just like Nifty Portal’s NFT) was a FREE mint and later turned into a huge, successfull ecosystem @Llamalabs

@NFTLlama like @niftyportals team had a sense of humour and interacted with his community members DAILY, cared about their opinion and ideas. This showed me that both of these teams ACTUALLY want their members to succeed and gain something from holding their collection.

PASSION / HUNGER AND CARING ABOUT THE COMMUNITY are the things that I look for in every team. Please listen to me and DO NOT invest in a project if the team does not have all of these traits.

2). Transparency

This is the KEY thing that I look for in every team. DAILY or WEEKLY announcements / updates on the project’s progress and what the team is working on are A MUST.

I cannot count how many times I have lost money, due to the team staying silent for WEEKS and not communicating with their project’s holders. I will give you a personal example:

I bought 5 Hausphases NFTs for 1 eth each after the team announced that they will be whitelisting every holder for their next very hyped collection. It seemed like a logical play, but after I bought announcements disappeared…weeks went by without any news on Twitter and Discord

team was never in chat to calm conserned people down….the floor dropped to 0.3 eth and I sold for a total loss of 2.5 eth. A week after I sold the team finally made an announcement…the project’s floor never recovered.

This just shows how IMPORTANT it is to make sure the project that you are buying into has a team which communicates with their members and makes small updates of the progress that they are making. This keeps members happy and gives them a feeling of safety.

3). Doxxing

If the project’s founder hasnt’t revealed his identity or isn’t “comfortable” with doxxing himself, it is a big RED-FLAG. I hate when project’s CEOs and Founders say that shit. This is a BUSINESS that you are running, nobody cares if you are “comfortable” or not!

This has to be a STANDARD in every place / business where people are investing their money IN YOU and your capabilities. If you are “uncomfortable” to reveal your identity to the investors, you shouldn’t be comfortable in taking millions from them either.

That said I will NEVER make a LONG TERM investment into a project with an undoxxed team. If you are not willing to put your reputation on the line, do not ask people to put their money on the line.

4). ART

I know that in the NFT space a lot of people say that they are here just for the money and do not care how their NFT looks. They are lying, high quality pictures with original style of art will always make investors more likely to buy the NFT.

So please do not invest into something that you do not enjoy looking at or holding in you OS account. I have lost a good amount of eth by not following this tip.

5). DO NOT FOMO BUY

Please for the sake of God NEVER EVER fall for FOMO or become greedy during a pump / bull market. I have lost atleast 60 eth by being greedy and FOMO buying NFT projects that I knew nothing about.

One of the best examples of this are people who bought into @goblintownwtf at 9 eth thinking it will go to 20 😂. I'm sorry to break it to you, but if you did that you are extremely stupid.

How does one expect something that already went up like 1000% in price in a matter of few days to go up another 2000% without any retracement or holders starting to take profits.

This “it can only go up” feeling is usually caused by massive influencers who pump their bags and dump on ya’ll minutes later. Please never believe random “BAYC” PFP influencers telling you that they care about you. They don't and they will use your naive head to take your money.

Here are the things I look for in projects and some overall NFT investing tips...Hope it was helpful🙏

This post is based on this twitter thread.

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