Flight W4-6M1’s Blue C.H.I.P.s
GM
Welcome aboard this newly added extension of the Concorde Aircraft!
If you’re a passenger who already got this alpha early, we’re glad you’re finally got up to speed. If you’re someone completely new and stumbled upon this for whatsoever reason or algorithm that’s in place then you’re in for an out of this planet treat.
This is Concorde’s Airstation.
Weekly, timely, and witty compilations of letters and thoughts from the Concorde Crew alongside community sentiments. We give you alpha (early access information) to Web3 projects, ideas, and concepts in bite-sized letters.
Given the nature of this first postcard, it is only natural for us to properly introduce ourselves and who the hell Concorde really is.
Concorde is an alpha research community focused on investigating and jumping on the best projects in the Web3 space. Concorde does a plethora of things, but explicitly prides itself in the robust, secure, and certified research process. Our community members scour the Web3 space in search of viable alpha. Our trusted in-flight Analysts verify it, and we do deep dives and share insights over at our Research Resets. Concorde also releases in-flight reports of our findings and shares these snippets of valuable information for passengers to view. Moving forward, we also reach out to these potential projects to further investigate and partner with them to build Web3.
That is a lot. We do a lot and accomplish a lot. That’s the Concorde way.
You must be thinking, how can you trust Concorde for your in-depth insights for what to look for in the web3 space? What credentials do we have? What values do we uphold? What distinguishes a good project from a bad project from a great project? Well, you could be the judge of that with the criteria presented below.
Ladies and Degents, it is an honor and pleasure to present to you FLIGHT W4-6M1’s Blue C.H.I.P.s (Concorde’s High-value Investment Principles):
- PEOPLE
- PRODUCT
- POTENTIAL
- PRACTICALITY
- PEOPLE (again)
People.
“Bet on people”
This has been one of the most preached concepts in Crypto Twitter and one of the critical factors of why projects succeed the way they do. You wouldn’t board a plane with a pilot with zero flying experience, now would you? It’s that simple. Concorde speaks to the people behind the wheel as soon as possible, identifies their track record (successes and failures), and overall reception in the Web3 space. Doing due diligence in background checking founders is vital in determining projects with high potential. Betting on people also means believing in what they can achieve and are here for the long haul. Get behind people with trustworthy leadership and clear visions of what they want to do in this space (more on that later).
Product.
“If you don’t have a good product, you don’t have a chance.”
There are two things to consider with regard to product:
- The Clear Value Proposition
- The Collector’s Experience
Lets discuss both briefly:
Clear Value Proposition
A great product can quickly articulate its value to consumers, hence a clear value. If a project needs more than 10 mins to explain their project, be weary! The value of a specific product should be clear and concise and an irrefutable fact. This doesn’t go to the extreme notion of “Simplicity is King” nor far from it. There must be a balance of substance and hybrid models of products, wherein you can fit a handful of good ideas under one overarching conceivable concept.
Collector Experience
This is also an extension of marketing practice since it involves the experience of your holders; however, the “Collector’s Experience” is the compilation of the little things that makes a project cut above the rest. As they say, the devil is in the details. High-Value Projects go hard on every little thing to make the Collector experience top-notch compared to other projects. May it be the unique, effortless, minting experience, the well-designed website, the unique community the holders have access to, access to the benefits of holding this NFT, etc.
Potential.
“Hop on the rides that will take you to newer and higher heights”
Potential is often translated as “upside,” or it should answer the question: “how far can this project go?”. It is challenging to evaluate projects based on this question because we all play the game in different time frames. Some are short-term traders/flippers, some are long-haul project hodlers, but we’re all here for the potential upside. This goes hand-in-hand with the question, “will people find value in this project more than what I do now?”. That’s the main reason why we mint out projects, isn’t it? Because we believe that, with the current market value we have, we’re getting a good bargain for something that’s about to go exponential.
Practicality.
“Its all about the utility and useability.”
Projects nowadays get creative with providing something unique to their NFT holders. If only we had 0.01 ETH for every time a project mentions that their whole roadmap/utility promises are:
- Merch
- Metaverse implementation
- P2E game
- DAO Governance
then we definitely could afford an ape or two.
But in all seriousness, the concept of utility has been explored by the current NFT market in various aspects. Examples include;
- Privilege and power to vote (DAOs)
- Access to communities and presales (Alpha groups)
- Phygital (Cross paths with the IRL Physical world utilities and digital)
- Access to the metaverse or a metaverse platform ($SAND, $MANA, etc.)
- and many more crazy applications (like the recent SimpDAO meta)
Taking a look at these projects and what value they place to the table with sometimes “out of this world” type of utility ideas. You always go back to the question, which Head of Research of the Concorde, @0xDomex here in the Concorde put it beautifully:
”Do those utilities both satisfy the present community and the next community? So what? Why should I care about those? Will those things be only viable in months? or in years? Do I think people will actually utilize the utilities present in the project?”
A practical project is a relevant project. Find what the market needs now and what the market would need in the future.
People (again).
“Yea bro the community is dope… lol”
This is an extension of the first point which is also People, but in a more collective sense. Community is one of the most over-promised, over-marketed, over-hyped, over-mentioned aspect of any NFT project. It’s a good thing and a bad thing altogether. The core principles and concepts that web3 dynamic presents us are bound around catering to what the community wants and needs, which is fantastic! It’s great that voices are heard, and the little guy involved has a say and is given such a premium. However, as a project promise of “Community”, that’s where its gets a bit “ruggy”.
Evaluating communities is just as (or even more) vague as evaluating Art. Art can communicate a thousand words in just a glance; it gives you the message and its representation under a second. Communities don’t work the same way. You can’t just judge a community based on a glance of Twitter followers, discord general and saying GM every now and then and conclude that “yea bro the community is dope”
Communities aren’t the main reason why people stay in a project. If that were the case, then everyone would’ve just stayed with their first NFT, right? But that isn’t reality. Community is just a by-product of a great Vision, it’s the collective understanding of everyone that there is this destination that the founders/devs keep on preaching about, and we’re all for it.
A good project would have a formidable community if and only if you have a vision people align with, and would ride the highs and lows for. It’s more than just a diamond-hands story, but you have to take this vision into account and see how achievable it is. See how capable the people onboard are. See how it makes sense. Then you’ve got a project that’s bound to explode.
Concluding Thoughts:
Concorde has been here in the space for more or less six months. Some evaluating factors changed through time, but these five have been core and consistent throughout any market and season in the explosion of Web3 so far. We hope you can find these tools as trusty and handy as we have. If you’re someone who would want to know how to use these tools to its furthest extent, the Concorde is still open to future innovators in this space.
Welcome to Flight W4–6M1!
— Concorde Airstation Postcard #1 End —
