man I love the music I press the button and now the music's gone but we're just gonna wait
to put a place to fill up guys let's let's see if I can turn on the music again
just assigning speakers still here waiting for the space to fill up a bit
and we're gonna start in a second guys yeah we're expecting 300 people to join
right and then we're gonna start
still just assigning people to the stage guys bear with me for just a few more
seconds hello guys hi there hi so we've got Lehman as a speaker now too so it's
gonna be interesting then we always know that it starts a joint club gonna have
him as a speaker too someone already did someone beat me to it so all that all of
you welcome already to the show please take a moment to share the space I think
there's a button on the right down corner where you can do that and you can
easily get back to the space again because we want as many people as
possible of course in the space it's a bit early so most there we see some
more familiar faces I see come joining in as well so we'll have I was just saying
press the share button because we want as much people to come and listen and
even in the evening because well my evening that is because the US and it's
some are a bit well way later of course than here so most most retweets
and people that listen in will come out usually I was after the space so but
let's let's start already so what what time is it in in the u.s. then it's in
the afternoon right Michelle it depends where you are from left to right yes
yeah but it's it's early in the morning where I'm at but like in the like we
change times already so like you guys didn't so instead of having nine hour
differences eight now but like in the East Coast it's three hours ahead so it's
two in the afternoon yeah 2 p.m. is primetime like US is is ready yeah ready
okay we're so we're ready yeah Patrick yeah okay well I'll do I'll do a proper
intro so good to have some many faces again here we see friendly as well many
more HP Joes but we have of course our our guests that we all know I don't know
sick toss if I don't recognize the project you're yes it's it's from that
v8 sick those yeah I was yeah great just wanted to ask Matt ph so what we're
gonna talk about today well we're gonna talk about the question that you ask
yourself when looking at the new project how to deep dive project and what to
look at and we have so many speakers today I think we're gonna we're gonna have
to be careful not to pass the hour again so let's let's so Patrick yeah is this
gonna be a space where we where we tell people to find better projects or can
someone use myself because projects now we're not gonna talk about us usually the
people that join of course they know who we are earthlings we're building a
gaming meta first but we are also doing these bi-weekly spaces actually every
week but we take turns because we see had there a death and age for Joe as
well in the audience and they'll have a speed a space next week again and we're
gonna get back to that as well of course but Marshall and I together with
hashback we're doing this space also every other week so last week we did have
me London age by Joe talk about what are people buying right now and why well I
think actually that this show is a great follow-up of that and let's see if
we can get some value here again too we are talking about what to look at
we're doing a deep dive into a project as I mentioned already and one of the
things to look out for so we'll just give you an extra piece of info that
you need to make a better decision so let's first see who are with us and well
he's been in Cockney toe with his avatar there but today we have a very
well-known guest again luckily at least showed up with another after starting
of course with our cross chain bodies from math vapes who are luckily also
building a serious project you better are well let's let's say that everyone can
decide at the end of the show with themselves great to have them come over
and share experience again from other chains as well and mark who else is
joining us you've got any idea yeah so obviously we have head started here I
don't know if it's master way or tutor behind the head start account head
starter has you know a launchpad in the header ecosystem as well as they also
provide the Sentinel and they help projects to go to market in in head
network so yeah I mean I don't know if who's if it's tutor or or master hookway
behind the the logo but welcome in then we also have coffee a presume from
limit swap which is an upcoming defy index decks and an aggregator in the
header network so it's gonna be very interesting to hear you know his insight
on this topic because there's a lot of differences between NFT projects and
defi and you know in terms of defi it's very important to have a solid
economic space and so on so it's very very interesting we also have half here
representing and yeah I think I'm really looking forward to hearing your insight
the other day I was actually working through the prior the spaces from a
couple weeks ago and the insight that you had was was super super helpful in
terms of how to you know prevent scams and so on so I think that it's gonna be
a very interesting follow-up space from the conversation that we had the last
time and then obviously I mean you know we have Marcel here with us so so yeah
I mean I think that obviously every anyone is always welcome to come up and
speak would love to to keep the panel open so if if you would like to you
know share some of your insights in terms of how to do a deep dive into a
project and what things that you normally look for yeah feel free to
request to be a speaker and and we'll be happy to to to to to bring you up so yeah
I mean did I cover everything there Patrick yeah I think so I'm actually
quite sure that if we've got anyone then just raise your hand and introduce
the shelf as well and like Mark said if you want to join in the conversation
just let us know and we'll get you on the stage but it's great that we have
some excellent speakers already and I know actually quite sure that that is had
to the behind head starter and they do a lot of deep dives into projects so I
wonder what's what he's gonna tell us let's just start the topic with some
questions and everyone feel free to to just give your take on it and just raise
your hands and we'll mark and I will try to to switch everyone and I think
I'm gonna give Lehman if he raises his hands the first pick now because last
time I did not give you enough time coffee I'm so sorry for that and so we're
gonna make that up with you this time so let's start the topic so what do you
look at first when looking at a project what are things that trigger you so
who wants to give it a first go if no one gives raises his hand I'm just
myself myself first okay yeah coffee you didn't raise your hand myself yeah I see
app now but I'm first yeah there's a lot of to look to look out for but one of the
things I I don't always understand if they if you see a new project they're
developing this and sometimes they are serious of course but then they show
trailers I've seen trailers that look amazing and then a few months later the
first gameplay or something is coming out and it doesn't look at all like the
trailers and well it's actually not a sign that the project is a scam or it's
not real but it's just something I want to mention that I don't like and yeah
that's for me if they trick you into buying something or investing the
projects by showing something really great or promising things that that are
bigger than they can deliver things like that but it's always when you you have to
stay stick with the project and find out that it's not what you thought it
would be that's for me I don't I don't like that how do you go about how do
you go about and finding out early on because that's that's the question yes
that's well I was saying this I was thinking yeah that's so it wasn't
really a good good answer for me so yeah you pick it up then yeah I think I
think the answer is what you could do because I felt for that trap as well I
didn't I didn't think that you would go that way because this applies especially
to of course well gaming metaphors and but not to all projects of course but
what you could do and I what I should have done before two years ago or
longer actually is just go to this court and ask them straight up is this gonna be
the style that your game or your metaverse or project is gonna be or are
you not sure yet and they should give you a very straightforward answer and
then then you know and so that's what I would do but I think app was next in
line then we'll go to great as well so after you do your thing oh thank you
Patrick um basically what I would say when I go into a project like Sun Tzu
like a battles won before it's even fought so before I even go into a
project I know it's gonna be in the right industry and the right macro and I
say okay well how long does it take to build a game you know we're going to a
recession what's gonna be like on the other end of this is this something
that I even want to invest in if everything works perfectly and then if
that criteria is met then I would say okay is this better than their peers so
then I'll go and say what have they produced and am I early enough to have
that that lowest financial risk of being basically at at the seed round or even
before pre-sale and then from there I will kind of on the basically play dumb
or be you know on the on the DL you know targeting the the founders and see you
know what is their thoughts are they being coy are they being
perdocious etc and then and and essentially it's it's making a judgment
and so from a lot of people they tend to be very emotional and and less you know
logical when making financial decisions so it's very important if you don't have
those traits like personality traits that you end up basically following
people that you can trust but for me you know I basically make my own luck so
I will go in and probe those projects that I think I have great potential and
I don't mean like what they're saying I'm saying well is is being on the best
blockchain that's completely scalable what can this product do and the two or
three or four years that it will take to build this project and I say okay well
it can actually exceed something like axi-affinity but it's actually trading
like it's could possibly die in a couple weeks so I can make an asymmetric bet
that could make me somewhere on the order of 20 to 50x and I'm actually not
kidding it's possible that that happens but at worst case even when it comes to
market it'll likely be somewhere between like a 3 or 5x so it becomes an easy
investment and then from there I can help guide the project into basically from
my expertise or what gamers actually want and go from there so that's what I
look at at least from you know from the earthlings perspective and that's
kind of where my brains at thanks for your opinion I love having you on the
show because you always have another few things than then a lot of other people
and we like as many different views as possible of course I like what you say
that by the way say two three four years because some people think that we
can build it in two three four months but we see projects that do build the
things like this and then after a few months after raising capital they're
already showing massive lands and sceneries but that's actually going a
bit back to what Marcel was saying it looks sometimes it looks like they're
raking in a lot of money at a fast pace with a very cool expensive trailer and
then they've got their budget in and then they're just trying to throw it out
as soon as possible and then you know you did this this reminded me of another
subject that we might do on another show why what's the rush you know because big
projects aren't built in a day and before we go to grit I do see my co-host
and the hands up so mark will you please then after you do you little say please
give grit the stage as well yeah no I just I'll just wanted to make a quick
comment on what I've said and when you were talking about in terms of you
know you're thinking that you had there in terms of one of the things that I
think is very important is also understanding the sustainability of the
project I mean thankfully in this space everything is very transparent so you
know I mean you can it's just you know you can Google how much making some sort
of game might cost right and if you know if when you talk to the founders
it's like oh yeah how you know we're gonna build this and that whatever you
start thinking you know making you know back of the envelope math and being like
okay there's gonna cost X but you know and they say that they're not gonna raise
you know some external funding or something like that and they're just
gonna fund it through like NFTs or token rate and stuff like that and you can
start doing some models in terms of like okay so they need to do all of this
to be able to do you know they have to do X Y and Z to do you know this
massive project is and then the way that I start doing is like you know just
working backwards like so like what would have to be true you know so this can
happen right so that's I think that that's a it's just an additional layer
but I'm I can go more into what I do in terms of figuring out whether a project
you know is something that is interesting to me but I'm great had the
their hand up before I did so so yeah go ahead great thank you thank you good
evening and good morning to where you guys are from and I'm great like as you
can see and like if I have to talk about what I look for in the project like half
here like he told like little bit of nice points about like it should be a
should have been you shouldn't be a wolf and you should be a sheep and ask a bunch
of questions to the owners of the project to get to know a bit about it and he
talked about ROI like return on investment and like these are nice points
but like you should see what value the project is also providing so from my
first point I would think the most important thing would be the value like
value what the project provides if a project like it the initial stages if
it's not showing that much but like the like there what they want to provide is
so good that if everyone wants to get in like that's the project one should try
to get in right like it's not like okay I want I want to get in early and I
want to cash out by selling my NFTs it should be like the NFT should provide
insane value that you want to hold it for the long term like two three years
until they want to build it so that's what I look into the project and the
second most important thing would be the economics of things like how do they
handle the like the findings and whatnot like that's the second most
important point I would look at so these two things are like major in my
perspective so that's it thank you no thank you for for speaking out and I'm
not gonna respond to that why because I have the idea that coffee from Lehman
wants to say something about that sorry Marcel you had your hands up first but
leave me this I guess so coffee go ahead I wonder what you wanted to say on
that comment hey guys I don't really have anything specific to what grid was
saying I just wanted to touch on you know comparing your investment horizon to
the timing of the technology that you're investing in a lot of times you know
people for an NFT project they look to flip so the technology that they're
investing with doesn't necessarily need to be sustainable for X number of years
but when you go into the DeFi space typically it's a longer term investment
so what you want to look for is how they're either aiming to grow the
ecosystem that you're currently in or how they're trying to adapt to you know
the newest technology what they're bringing out so you know obviously when
you start your presale rounds or your seed round so to speak they'll have a
plan for the technology that they are developing but if it's an old
technology and you know that development is going to take just you know let's
just say six months for instance by the time they launch you know that
there's still better technology out there so is that something that you see
yourself investing in for a couple years when there could possibly be a better
product released in the meantime so something to keep in mind is is you
know what are you investing in technology wise and how long is that
going to be relevant in the space or how long is it already been relevant in
the space and then the other thing is obviously with with crypto and web3 a
lot of it has to do with community so you know you want to make sure it's in
a subject matter that you're interested in and something you want to contribute
to help building the community and you know staying within that community so
if you don't see yourself wanting to be a part of building that community or you
know participating in that community it may not be an investment that's worth your
time or your money obviously okay much so go ahead yeah well actually also
short follow-up about that because community engagement is something to look
at I think are they active in helping the community are they active at all and
sometimes you see that they they don't connect to them they don't help them they
just well we I even know projects that just that just ghost you so I think
that's something that's also important and and I have also seen projects with
huge following tens of thousands of followers on Twitter but very very low
engagements so so they have five or ten likes or hardly any retweets no talks
under the tweets etc etc so that's also a no-go for me and and also are they are
they transparent I think upset it also and I even think I had a private chat
with him and I think he said he looked me up I don't know if I'm correct
but you but you're next I think but no name no address can you find it on Google
if you don't see that I see so many projects that are even they've sold so
so many NFTs and you cannot find who is behind it and I was looking last week
about or two weeks ago I think I was looking into rock pools and there are
so so many rock pools and the red flag was just like they were anonymous but
I think there's a lot of foam also play paying there if so many people are buying
it then yet you just don't want to miss out and you also buy it and there was
this one project who got away with 2.7 million dollar and just left it was evil
8 so but they were anonymous so if someone is anonymous I'm not in the
project so yeah that's that's just what I wanted to say maybe Apple wants to
say something I want that one second I'm gonna I'm gonna we're gonna go to app I
want to hear your vision on that as well but I'm gonna cheat a bit because I
didn't hear Matt V H yet and I want to go to head start after you as well app
by the way so to do don't go but Matt V H and I know that you are doing a lot
with your community as well and maybe you wanted to touch on that or something
else but I would love to hear about that or whatever you wanted to say of
course yeah no you hit on the head first of all thanks for having me here it's a
interesting topic it's a important topic but I wanted to double down I think it
was Lehman who brought it up initially as community and what the team does with
the community you know hand-in-hand giving them the tools and resources giving the
community the tools and resources to build for themselves which ultimately
helps grow the brand of the project as a whole you know when you are working as a
team for your community and they see that and start working as a community for
the team you create this ride-or-die you know relationship between team and
community where it's really like no one person is above the next we're kind of
all in this together we're all working towards the same goals and that's
that's what's powerful that's when you start breaking into different industries
and your brand starts getting recognizes when people are using that and using
those logos those images to create for themselves and just spread that brand
awareness to other industries and markets and new people so I think that is
a very important thing to look for in a project is how does the team you know
interact and help the community and then vice versa how does the community go out
there and ride for the team and the project because when you have it working
in conjunction that's when special things can happen yeah thanks for your
comments I saw you flirting with King Solomon by the way so you're gonna leave
the chain I'm gonna come to it there I guess no comment no comment okay let's
go to up thanks Patrick um I would just say like you know when I come I know
does told me did I look you guys up absolutely before I'd putting in you
know tens of thousands into a project I went to your guys Dutch the Dutch
business system you can search it up and use Google Translate and then even you
know you saying you guys move to France etc that's all on the internet
unfortunately so you know but but like you know that's just me after the fact
I buy first because basically as soon as you see something that's a you know an
exception you know exceptional investment you buy first then do DD and then if it
doesn't work out then you can always kind of like sell later when the hype
goes up you can kind of sell out with that liquidity but the reason why you
know I've stuck with that project is because the timing of the bear market is
almost perfect to kind of diversify assets that I originally had that I
originally made and and and to something that is more sustainable it's more
business like in the long term and so it always comes back to me is from a
business perspective is is what you know what the market is looking like and
what's the best investment and I know that answer before I even talked to
anybody and it's just a more of a confirmation once I start talking to
people on the project and and eventually it comes down to a
judgment call and it's just basically like are you consistently able to judge
people not for what they say but what they do and not you know and for what
the market is saying and and what the you know the benefit versus the risk is
and so that's kind of how I that's kind of how I deep dive in the projects thanks
thanks for that I'm great I did see your hands but I'm going to go first to have
two doors because I want to know his opinion as well because he okay so I
must admit our community gave us a way worse questionnaire than tutoring
did so maybe maybe we need to do to give some people that to to head start
that no but but head start also of course did a deep dive in us as well and this
is what they of course do a lot so to there maybe you want to say to share
your thoughts on what you look at in a project or maybe you want to go to the
next question what's a red flag on any project for you it's it's your choice
let us hear something from you hey Patrick hey everybody thanks for having me
these spaces are amazing and I really enjoy these these topics they're very
important to be had in the header ecosystem especially nowadays while it's
still the middle of the bull bear market I don't know arguably right we're still in
the in a bear market we're still the the sentiment is still pretty cautious so
so don't quote me on on the timing there when it comes to bull or bear but yeah
I think I think still the the community that we have right now in Hedera is pretty
much ready for the us to make a step forward towards let's say a wider
adoption of the Hedera network and seeing a lot more applications being built and
released on the mainnet I think that you know the the other panelists the other
speakers made some very valuable points I'm gonna give you my perspective from
headstarter because not only do we look at projects that are public but we
speak to a lot of projects that are in the stealth mode and we stick we speak
with projects that have been launched and our blue chip we speak with with
projects such as earthlings and as Patrick said we we give them a hard
time sometimes but I think it's all in the best interest it would be
interacting with these projects so we I've seen so I'll give you my
perspective maybe it's not something that's NFT project specific and it
addresses a wider spectrum of projects whether that's gain phi D phi but and we
I've seen many many pitch decks so when it comes to when it comes to looking at
projects we most of the time one of the first things that we look at is the
problem statement right so what is the shortcomings that that particular project
is addressing now because because this thing can be variable like it can be a
important topic then you also have to look at the addressable market and
their go-to-market strategy if if all this pans out I think one other
important thing that comes hand-in-hand is the USBs or the unique unique value
proposition that this project is providing so is this project doing things
differently are they more cost-effective when it comes to for example let's say
a metaverse project right a USB could be that they are building on Hedera
right although the addressable market probably smaller than the one that you
have on Ethereum right so that could be considered a USB or if you are doing a
text if you're doing a DeFi protocol how is it setting apart from the others
from your competitors after that we're looking at the backers right who is
already committed to the project who is if there's any VC backing for that
particular project now probably lower than everybody expected we're looking at
the team because we notice that teams generally can are pretty much hit and
miss so I would personally much rather prefer to interact with a with a team
that is that where where the founders have I don't know a plethora of soft
skills from commitments to reputation to transparency so the founders profiles
is very very important but I would much rather so to say back a passionate
developer from Ukraine rather than somebody who has a awesome pedigree
because I'm some certain things there might vary in terms of bandwidth
commitment etc now thereafter some of the next points that probably I'm not
going to dive deeper into them would be is the token required or not what are
the tokenomics then what is the budget that they're looking at roadmap audit
and of course if there are any red flags and I guess that's one of the
next topics that so you guys want to touch on yeah we do we're going to go
to the red flag soon but I've got two hands now and mark can you wait for grit
first and if goes yeah I've skipped too many times good go ahead and then we'll
go to mark yeah yeah mark has been like putting his hand up every time I speak
so like I want to talk about the points Lee Lehman and chick Toshi was speaking
about like the community part of things like initially if you look up to a
project it won't have a great community because it takes time to create
community so if you think that like I will see the community part of things
and I'll jump into project it would be a mistake because it takes time to
blossom right so like the initially we should look at other things to like the
address that I was talking about like the unique selling points and such like
other points to like he mentioned a bit of like nice points so that's what I was
thinking about like and I want to say that I have to go because it's getting
late over here and I want to like tell that I will be having spaces this
Saturday please check it out at 11 p.m. EST and that's it thank you for having me
and was a great talk thanks for coming over I'll check out the spaces there
that you mentioned I hope it's not in the middle of the night thanks so mark
you had something still yeah so I think that everyone brought a lot of very
good points personally kind of the process that I really focus on is you
know very geared into and you know with a mix of everything that everyone has
been saying really diving deep into the discourse I think that you know kind of
getting to know the what people are talking about and what people are excited
also and people decide and asking you know having kind of more deep dives
with the people that you know might have been involved with the project for a lot
longer that's something that I've talked about in terms of like learning you know
a little bit about the what the founders have been saying and stuff like
that so another thing that I think is very valuable is keeping a record of
what the project say so you know if if they say something through discord checking
that if they're on a Twitter spaces they're also kind of following the same
threat and that they're not trying to have something up I think it's you know
we do the different cycles we've seen a lot you know the type is great and all
that it gets everyone excited but at the same time if it's not something that
you can sustain for the long term you don't want to be left you know left
alone at the end just holding right and believing on this project and then I
think finally what you don't go into what Twitter was talking about in terms
of you know researching the team I think that that's like really essential I
think that at the end of the day having an idea and executing an idea it's two
completely different things you know you could have the best idea in the world
but like if you cannot execute then that might not come to fruition so so
and this also something that I've talked about right in terms of going doing
some sort of like soft background check on on the project and this is
also something that head started with the sentinel does in terms of like you
know getting some sort of background we understand that you know keeping people
anonymous is is there right and I think that that's completely completely fine
but at some point there has to be some sort of checks and balances that have to
be put in place just so we can protect it the the you know the end user
because if I'm a new user into web 3 you know I might just be caught up on all
the hype and then you know if the first project they jump into it's it's some
sort of you know there's some fishy something fishy going on they might just
steer them away from web 3 for the you know for the for the future so so it's
it's a very interesting topic but but yeah that's kind of my two cents and I
know that I have has you have your your hand up so yeah go ahead thanks so yeah
I'll just give like a little bit more some more color and like some of my
experiences the last year Hedera but like it's even more than that like when a
founder says well I mean I keep a private discord with and I usually try to group
the whales you can you can see all their on discord names and account numbers
based on sales and all that stuff and so socially as a investor slash we you
know consumer cuz you know I love to play games at the same time and I love
to consume just as much as I like to invest it's kind of like a 50-50 for me
it but knowing one side helps the other at the same time so you can make
money and have fun at the same time which is why I love Hedera so much you
know even though it's a bear market but yeah no as you create a private
discord and and then have you know instead of just one set of eyes looking in on
the project before you invest serious money have like you know five or six or
seven people's set of eyes and so you get a sounding board of not just your
bias but like what are all the people that have put money into it what their
bias is and then you can you know kind of create because it's we are so nascent
in this industry and on this network and plus the bear market there's a lot of
influence to make projects successful at this point and and even in the
questions you know asking you know where development runway is you know where is
the money coming from what is their previous successes you know I can
already tell like you know design is amazing okay you guys you know have
world-class design experience but do you have game experience do you know how
to operate a business where some of your shortfalls and where the risks are
and then kind of look at you know okay you had this X problem or that X
problem and how did you resolve it understanding where my risk is and
knowing that nothing's going to be perfect and there's no team that's gonna
hit it out of the water and be totally perfect and transparent and have history
otherwise they wouldn't be asking for crowdfunding so there's an element of
that too but understand okay if design is what they are best at I want to make
sure at least going forward that design is consistent and amazing and if they
have issues with operations what are they doing better and kind of hold them
you know not accountable but just be a check on them and help and have a
discussion and talk to them and don't be afraid to open up a message you know
with the founder and start a dialogue and but don't be too pushy you know
have an element of respect because they are putting their own money into it and
you're just an investor so you know I have investment in other things and if it
didn't turn out it's not gonna be another world but for the most part for
creators it is their world and so this they probably have a little bit more of
an emotional attachment to it which is fine so you know I don't expect
perfection but I do expect you know at least results and and a good-faith
effort I think that's all ultimately required but if they are exceptional and
one aspect I do expect you know at least an above-average result and another
aspect of business etc and so those are kind of the things that I look at okay
Marcel we're gonna end it this this question with you keep it try to keep
it short because we're well not short of time because it's a fun space it can
take a bit longer but I want to go to the red flags because that's that's one
that I like look we can make that a bit short maybe but Marcel go ahead well I
thought we already talked about a lot of red flags I know some other red flags
again but I just wanted to reply on app because I think he mentioned earlier
that he was also talking chatting with team members etc and just try to get a
feeling about them if I'm correct I think he told that and I talked to app
also a lot personally but I I also feel that if you if you have a lot of
conversations even if it's just words on your screen you really get to know
people and I had so many talks with some people online before I met them in real
life not in real life but I mean on seeing them face-to-face on Skype or
zoom and they were actually exactly as I expected so so having discussions or
talks with people just chatting it tells a lot of you can really feel how someone
is so I think yeah upset that gives me things thumbs up I think he meant that
but I agree with that you can really feel how people are just by how they are
responding and get to know them back to you Patrick yeah sometimes we do have
different opinions of course I think in a way you are right indeed but someone
can of course it's easy to to pretend to be someone else of course with just text
then face-to-face or just talking like this so it's not always true but yeah
there is a core of truth in there as well of course and I want to go to two
red flags and we did already do that a little I think for me I'll just do it
shortly for me the first red flag in in any crypto projects is if you go to
that Twitter or the discord and they are a new project and have like a zillion
followers you go to this court and you see hi sir with er good morning and you
only see bots there is so obvious and it's like they paid a lot of well you
don't even have to pay a lot for that I think but that for me is such a red
flag because you need to grow organically and if you have a good
good project it's better to grow slowly with serious followers than to do that
okay I saw Lehman sorry Marcel I want to hear coffee speak again as well coffee
what's your take on that sure I think one of the biggest flags red flags once
you're invested in a project and they're developing or they're building whatever
the product is if they're not taking responsibility for problems that arise
or mistakes that they make a lot of web 3 is built on the back of you know
relatively small teams you know we don't have 60 people developing a protocol
so mistakes are gonna happen things are gonna change timelines change and even
products sometimes change but the at the end of the day if they're taking
responsibility for you know the changes or the mistakes that were made and
they're trying to make the product fit the market better or you know make it
right with the people that they've already gotten investments from I think
that's that's a big positive but if you know they start making excuses or
blaming market conditions or other people for mistakes that could have been avoided
you know that's that's a huge red flag I agree and we're gonna go to you again
as well up but upset actually something about that as well because he just said
I'm so happy with my pen making notes here it's shortfalls the word shortfalls
triggered something with me because yeah a project must be able to admit it's
shortfalls as well and if something goes wrong then just tell the community
where we went wrong and what you're doing to fix it and then of course then
people can understand but if you are making excuses and unfortunately we met
some projects already that were always just making a few excuses and then trust
is gone trust is you need to earn trust but you can lose it and it's
very hard to get it back and oh wow there's many hands okay keep your hands
up guys I see you to tutor I know but I do know that efforts first app keep it
short then we can go to the other two speakers as well thanks I'll keep it
short but basically I mean I've been involved in are like four being corn
creations on Hedera and I haven't lost anything yes you can buy users Twitter
followers discord members it's all on a price sheet it can DM me if you like so
don't be don't think of that as respect when you go into a discord or into a
community look at how many people are actually on a regular basis responding and
talking and understand your real engagement from the last facts that I
looked at there's somewhere between 250 and 350 people buying Hedera NFTs on a
weekly basis our market is extremely nascent to spark this and there are
several I'm not gonna name anything but there are several projects that do trade
among each other to increase the volume so there are top at Zeus and so you
know understand that what you know humans ultimately are visual species they
believe what they see and that's part of our wiring so just do a more logical
approach see what what people are actually engaging in and and you can
determine the level of engagement within that community thanks for your opinion
there again always appreciate it and I'm not gonna comment on that because I want
to hear head start is already a new thing so but meet Matt V a plus first I think
okay to the stage yours thanks for that to to an earlier point that that mark
mentioned yeah so we did a particularly creates the Sentinel project that can be
found at Sentinel that has started org to provide the wider community with some
key objective metrics that they can follow while doing their DIY or on
various projects currently the ones that are captured there have a fungible
token but yeah we want to create something for for for projects that have
NFTs and we also would very much appreciate feedback or suggestions for
improvements to the currently existing methodology going back to the question
about the red flags something that for me personally is very important and hits
home a lot of the times is the raise amount right a lot of the times we see a
certain amount of projects are raising and they're looking to to to for the
community to back them up in to raising their goal but is that amount justified
how much are you overshooting why and if you're going to raise that amount how
do you intend on using those proceedings and I think that probably certain certain
elements are obviously more or less confidential but I think I think that
this particular point in the raised mouth is very important because you can a lot
of the times you founders end up being very greedy and that ends up in the
detriment of their longer-term economics sustainability models and yeah it's in
the in the favor of their backers of course the fake the fake followers the
fake interactions and bots is a very important element and some other
marketing stints and fake advertising could be could be red flags there over
promising and yeah something else that probably would be important is to see
when it comes to their launch strategy how sustainable those plans are their
commitments there and if they're biting something that that is too big for them
to chew I'm not sure if that's an expression but when it comes to the
roadmap and to then their development goals how do they approach it and if
that is something that can be done or it's just it's just that they are looking
to do a lot without specializing in something in particular and delivering
it correctly thank thanks for that did anyone did I miss a hand here Matthew
ph did you still have yeah you have two hands so didn't get you go ahead yeah
a couple things one the first one's a little bit controversial I think but I
think looking at wallet distribution and checking in on the whales right whales
are whales are great whales are great you know they come in sweep your floor
that everyone's happy but but when the whale wants to sell then it's like oh we
hate whales right so it's it's definitely a double-edged sword there but
if if there is a couple whales right that can basically control the entire market
that could that could be an issue that can be issue because then sometimes the
team feels obligated to make sure that the direction of their project goes in
favor of whale or they want to keep the whale happy and and those sorts of
things so that's that's one a little bit controversial but you know I hope you
understand where I'm coming from with that the other thing is I think
communication right and in this case lack of communication between the team
someone said it before it's like you know timelines change things change you
have to pivot communicate that as much as you can you know to excess I think
is probably the better thing to do from a team standpoint if the team's not
communicating a lot with you especially if there's missed deadlines why just
tell us why you know for us you know mad behaves we do a lot we have a lot of
different arms to our project we have an upcoming collection called the elite
collection that's it's basically a consolidation of existing NFTs to reduce
their overall supply and then you get this new our piece with the the utility
of those you know NFTs that you burned rolled up into one NFT so we had this
whole thing planned we had the timeline for it but we got invited to go to the
V chain summit you know conference in Las Vegas and have a booth there and be
on the speaker panel and then after that we locked down a partnership with a web
to business so our attention got focused to really kill it at the summit and the
conference and and really focus on this new web to business partnership make sure
we get everything in place for the event that's actually happening this
Saturday so attention you know and someone said it earlier we have you know
there's these are very small teams that are kind of running these projects so
you know our attention was focused on making sure we really execute on these
things that are right in front of us these opportunities that we can't pass up
so just communicating to the community that hey you know elites are coming we're
still working on it like everything's going great we don't want to rush it out
but our attention had to be focused on the V chain conference and this web to
business partnership because we think in the long run that stuff is going to be
very important for the future of our project so long story short I think
communication is is super important and just making sure that the teams of
these projects you're invested in are basically over communicating with the
community I think I'm just gonna have something to say about the first part
because I know he had a very smart comment about that in our discord as
well I'm just gonna comment shortly on the second part that you did I think it's
awesome to hear other builders in the space with similar projects not not too
similar but you know what I mean who also see these things happen sometimes
your project takes a different course someone on the delivers and you need
to make up or stuff like that but indeed communication is very important
then explain to the community because they own your project so you are
responsible to explain what you're doing but give it give come on stage thanks
Patrick so I gotta talk about the whale stuff because it's something that's
never talked about and so I am I am a whale in Adara and I my degree is in
economics so I understand the math behind all this all basically under 10% of
your project it's fair game once one entity or a cartel of entities acquire
more than 10% of the market share they can start to exhibit monopoly abuse so
whales are great especially during funding or bear markets when you need
money you know they are the ones that will come to you but they'll do that at
a price and the price is is you know relative you know market share control
once the idea comes to fruition so you know once market share gets to about 40%
that the monopoly control or return on investment goes from 10% at at 10% to
30% so basically they triple their profit when you get a 40% market share
so as long as you keep the the distribution to the point where no one
person or our cartel of people control more than 10% there's really no issues
with someone having a significant stake this kind of depends on what your
definition of a significant stake is and I posted the unearthlings chat a
little bit of the math behind that and so you know it just kind of depends on
someone's you know that that's their ability to to kind of abuse the market
so as long as they're not abusing you know isn't it having someone buy into your
project for five or 10% is fine it's when they start buying in for 25 and
30 percent of your project that's when it becomes an issue I've got my two
cents on that as well because I agree with a lot of what you're saying and
you wrote a nice essay like I sometimes do in this this course well they say I
always do but I think even if you have a will or even more if you just continue
building it if one of these wheels decide to dump everything on you and some
people don't like it when there's wheels in your project but then for instance if
one of these wheels or more are dumping it with maybe a lot of profit
hopefully for them then and then you as a project should just keep on
building and if you are a strong project and you have a good project then long
term you you will show them that well too bad for them and all those people who
were then complaining that there were too many wheels did they then make use
of that and pick up these new items I would say yes but I think if you have a
strong project and you just keep building then it shouldn't really be a
problem and I think actually having some wheels just shows that there are some
people who really see oh yeah hashback niche to go I know that on top of the
hour he needed to go so mark thanks for having you we're running a bit late I
know and so yeah it's not let sort but I think the quality of the project will
decide long term if if then that will have an impact I think the head style
also had the hand his hand up did you two door or did you not oh yeah I was
just gonna touch a bit on the point of that that was mentioned earlier by you
guys I think by I think obviously when you look at the whales and of course this
varies based on the market cap of the respective project but you need to look
at the average buy price that everybody has so if any everything goes
according to plan for a particular project they're respecting their road map
they don't lose any credibility there's no hack that the product is going well
then you you look at the project by price average by price for round you have
you might have seed private public grounds etc and if everything goes
according to plan then even the people that let's say back the project earlier
on shouldn't have a big enough pie so that they would affect the price
significantly now obviously as I mentioned there's various projects in the
various market capitalizations for each respective project but whenever we're
looking at a let's say a larger project that is building a big let's say
application I think that generally this can also look at it to be a red flag if
the let's say the see them private round equates to more than 20% that that
generally is a red flag if the team the founding team has more than 10% of the
token equity that's generally another red flag so there's all these more things
that have to do with tokenomics and on chain metrics in relation to the
respective projects token price if that project has a fungible token that is
thank you for that and yes you can see having a head starter going through all
our paperwork is great because say you know where I think the community knows
then that there's gonna come something great out of that as well and of course
we have we have some amazing team members as well helping me out on that
side because I know where my shortfalls are I'm a designer I'm a gamer I like
to design and create a great game but for some things I need help and we've
got an amazing team together now and so we have reached the end of the hour
and I must say I think we can we can do even three more shows with this it's
it's amazing I love these these shows I wanted to also to speak about seeing the
whole space on the fire the whole space the critical space is a bit on the fire
by them by the media how so how important is transparency within these
projects and what to look for in a team we did cover that a little bit as well
but you can also tell a lot from the white paper how much love is being put
in there well Twitter and Discord for followers we spoke about that as well
what is the long-term vision but also if I look at a project now I think that's
very important one and coffee spoke a bit about that as well because you need
and what is the long-term vision and anyone can now start quickly start and
build a metaverse but are they really doing it differently or the gaming in
the gaming aspect as well what is the project gonna be like in five years time
are they really putting effort in design and in our case as well gameplay or are
they just trying to build on the hype and doing something something short term
and and quickly so those are things that I look at as well mentality so we
can go on forever with this I think it's important also to note by the way
that next week there's gonna be another Twitter space and that's gonna be Joey
and Milan to earth and they're gonna look at onboarding to web 3 what's it
gonna take I would I would love to do that subject as well by the way but we
hope that everyone is gonna join them as well and they are here and I hate how
that banner looks better than mine myself why is that banner better designed
than ours that's that's on you myself yeah because I made made ours in a hurry
because you needed it quick and I wanted to I like them more than I like you maybe
this is a better answer it's also your space man yes but I'm very humble we're
gonna we're gonna have many shows I did make a note here because I saw that
orbits oh she's back or he is back I don't know who's behind it you did
request to speak I did gave you a seat but then it threw you off the spaces I
think because I did that in the weekend as well I requested to speak somewhere
and I requested three four times and every time they gave me a seat they
threw me out so I'm sorry for that I didn't throw you out there was Twitter
being buggy again I hope that they're gonna fix that soon enough because
Twitter is bugging a lot so lately but hopefully next time we can put you on
the stage again this was a great stage space I must say and I love all the
different opinions that we have here so share and retweets this this space
because we love to grow our community in this way as well and I think it's an
important topic to also discuss I think we're gonna do a follow-up on this
this topic again because it's just fun to talk about the stuff I want to thank
all our guests to do from Head Startups love to have you on the space always
you're a real professional when it comes to this this stuff of course coffee love
your insights thank you for joining again and Matt the apes it's amazing that
we have feature coming over to to Hedera to visit as well and we're gonna have
by the way many more guests from other chains soon in the some very fun shows
that we're going to do as well up thank you for speaking out as well you
have a very great view and different view and opinion on things sometimes as
well we like that as well I see what I wanted as well I see our team members so
great to have all of you here on the space and I need to scroll down to see
more people but that's it yeah well it's gonna be too long I hope I did not
forget anyone Marcel I did forget you but that's okay I'll see you tomorrow in
the morning again so guys and that's gonna be I'm gonna I'm gonna love and
leave you with that yes I got it from a YouTube channel and hope to see you
next week with Milan and no Joey and Milan to earth man that's a catchy title
I love that again I'm gonna quit it with that I love you later guys bye