At first glance, it might seem like a fairly simple concept to understand. Research what exactly you are putting hard-earned money into. However, there’s a lot of different influencers and notable people on Twitter trying to convince you that they have the next blue chip ready and waiting for you to mint. We also understand the confusion of us at Metaversed telling you to DYOR when we are planning on providing our community with good quality projects to get in on. However our goal with those projects isn’t to get you to blindly trust us. It’s to cut your research time in half, so that you can focus on your research on the projects we provide instead of wandering aimlessly wherever you try to find new projects online.
In other words, please don’t believe something an influencer tells you at face value. They could very well be getting paid for a twitter post promoting a certain project. Here’s a quick checklist of what exactly to research.
- Transparency: Does the team hide behind the blockchain? Do they seem to be who they say they are?
Staying anonymous in this industry isn’t necessarily always a red flag. There are strong reasons why someone would want to do so. But here at Metaversed, we stress the importance of knowing who exactly you are putting your money and resources into. Think about it this way, if a project you’re invested into gets rugged, who are you going to complain to? How would you try to rectify the situation? It’s a lot easier to try and get something done if you know the identity of the team.
2. Roadmap: Is the roadmap realistic? Is it too vague? Is it something you are interested in?
Please read the roadmap. It’s there for a reason. You need to know what the team has planned for the money the community is giving to them at mint.
3. Check the socials. Do they check out?
The social media numbers could be a great indicator of a project and how strong the community is. Huge social media numbers could mean a very strong mint, it also means there are more eyes on the project with more pressure for the project to execute. Too many people looking to flip could harm the project at the outset. Projects are also known to buy followers to make it seem like their community is larger than it actually is. Check into their discord. See how people interact. Whether they seem to actually be a part of the community or if they’re all just grinding for a WL spot.