As the leader in community management for ICO’s, AmaZix staff are often asked about the assessment process and why we partner with certain projects and not others. One of the core reasons (beyond great service) that AmaZix is the leader is BECAUSE we are selective in our partnerships. All potential partners go through a rigorous, multi-stage assessment and due diligence process to determine if a partnership is viable. Investors can trust that any project on the AmaZix partner list is truly a top tier project that has passed evaluation from an entire team of trained assessment specialists.
Upcoming projects can benefit greatly by undergoing the “AmaZix Assessment”. AmaZix has deep experience of the crypto space through working with over 80 projects and understanding the concerns of their communities.The assessment team has completed deep dives across hundreds of unique crypto projects to develop an understanding as to what an exceptional whitepaper or website should look like. Through this experience we are able to provide insightful, proactive feedback to address issues that can affect a project’s chances of success, giving the project advance warning of any issues the crypto investment community may object to. This process is mandatory before becoming an AmaZix partner. Here we will provide a broad overview over such process.
The assessment process is split into four stages.
First, the business development team handles the sales process, addressing any concerns. Once paid for, the assessment process begins with two professional analysts giving their own brief summaries of the project. These summaries act as second opinions which the primary analyst can refer to when writing the full assessment. Next, the primary analyst assigned to the project embarks on a deep dive, writing up a comprehensive assessment report based on their findings. Finally, the report is passed on to the editing team for a final coat of polish before being delivered to the client.
Below we will reveal what exactly makes up the “deep dive” part of the AmaZix Assessment process.
This is a broader topic that covers many aspects of the project. The overall concept is evaluated based on a number of factors, including: the business & vision, the product, whitepaper, token economics, and token growth potential. The concept is the central point of a project and is what will bring about demand for the token. A project’s concept serves as the foundation around which the team will grow a successful business; here we ensure that foundation is as strong as possible. Assessments provide valuable insight into how prospective investors could view the project, revealing any gaps or red flags that need to be addressed. From business strategy, to potential roadblocks, to quality of concept communication; no stone is left unturned in our exhaustive analysis.
Business and Vision
The overall business and vision make up the primary objective of the project and what it is seeking to accomplish. A vision is commonly a result of identifying a specific problem or pain point in an industry and directly addressing such with an innovative solution. It is essential for a project to have a strong business case and future vision, and equally important to ensure such a vision is effectively communicated to potential investors. The business and vision are core components in the decision-making process of potential investors. AmaZix will evaluate to ensure the project delivers a compelling proposition that can be leveraged towards an industry leadership position.
- PROJECT OBJECTIVES: We review the goals of the project and the overall vision to ensure they are being communicated successfully and align across stakeholders. Does the business address a distinct industry problem, and how prevalent is the issue?
- BUSINESS MODEL: Does the project have a clear and defined business model? We also consider whether that model makes sense for the industry and target.
- COMPETITIVE ADVANTAGE: Is there a clear competitive advantage? Is it defensible in the market?
- INDUSTRY: The industry the project is operating in is an essential piece of the puzzle and is used to give further context to the operational review.
- TARGET: The main target audience is evaluated, including whether they are B2B or B2C.
- INTELLECTUAL PROPERTY: Particularly for technology companies, any patents or unique IP will be analyzed to find strengths that can be leveraged.
- SUCCESS FACTORS: We deeply analyze the key metrics for success and then evaluate whether a project has a strong likelihood of success based on those factors.
The product is the deliverable or service being produced by a project. This also includes the future roadmap, which is integral to ongoing development. The roadmap is an extension of the business proposition deeply evaluated by potential investors. For every AmaZix Assessment, experienced senior members of the assessment team provide a full 360 degree analysis of the communicated product and development plan to ensure that it can be realistically accomplished, and capable of building user traction, along the given timeline. This is done by applying our history of work on some of the most successful ICOs ever to determine its potential. We assess based on a myriad of factors that take into account internal and external factors, all measured against the roadmap to ensure the vision is achievable.
- PROJECT FEATURES: Are the features applicable and do they properly address the main business concept?
- DEVELOPMENT STAGE: What stage is the product in? For example, concept, MVP, beta, live, etc. Many projects have strong concepts, but they are essentially just ideas on paper.
- FEASIBILITY: Is the project development and roadmap feasible given the competitive environment, the team, and the budget?
- PRODUCT PLAN: We ensure there is a clear and defined product plan with milestones that are reasonable and achievable. We then analyze compared to existing projects in the space to ensure long-term competitiveness.
- LAUNCH WINDOW: Does the project have early mover advantage, or will they need to enter a saturated marketplace?
- TRACTION: Existing traction is taken into consideration, and is particularly important in terms of consumer-oriented projects. Are there users or partners already on board?
The whitepaper is the primary means of communication between project and audience. It is sometimes used as the only means of evaluating a project before the decision to invest is made. Even if a project has a strong concept, if that concept is not properly communicated, a project could still see limited growth. Thus, a strong whitepaper is a core component of any communication plan. A whitepaper review is essential towards understanding how the project will be perceived by the community. Our analysis, backed by knowledge gained from analyzing hundreds of whitepapers, provides insight into the strength of the message being communicated to potential investors by the whitepaper. This analysis is then distilled and delivered along with actionable feedback on how a project can significantly improve their documentation and profile.
- CONTENT: We review the whitepaper in detail to ensure all required information is available, making note of any weak or missing sections. Is the problem, solution, product, and all other key information included?
- NARRATIVE: Is there a strong overarching narrative as to why the project should be invested in?
- INTERNAL LOGIC: Is there strong internal logic, or are there contradictions in the information presented?
- ROADMAP: We ensure there is a clear and defined roadmap that properly communicates the growth of the project.
- COMPETITION: Has the project considered the competitive environment and clearly stated their advantages compared to others in the space?
- TOKEN: Is the token shown to be sustainable in the long term, and does the utility make sense within the context of the project?
- PRESENTATION: We analyze the overall presentation of the whitepaper to ensure it lives up to industry standards in terms of length, layout, tone, and professionalism.
Token economics encompass various key metrics surrounding the token; token utility, overall economy, distribution, sale information and caps, and long term liquidity. Potential investors will review these metrics to ensure a good fit with their risk profile, to ensure the team is properly applying best practices, and to predict the token’s future value. This is an area where many projects stumble, whether through inexperience or a misalignment in priorities. Yet, mistakes here can have lasting effects on public perception. Thus, all AmaZix Assessments include a thorough analysis of the token to ensure proper alignment across all stakeholders, including potential investors. Such analyses leverage the direct experience of many high profile token sales, as well as collectively tens of thousands of hours of engaging directly with a large investor base.
- UTILITY: We analyze the overall utility of the token and how well it interacts with the project ecosystem in both the short and long term.
- TYPE: What is the type of token (utility, security) and to what extent will it have an impact on future liquidity?
- DISTRIBUTION: What is the token distribution and are there issues that could affect investor trust or project credibility?
- CONTROL: Are there any issues with token control, both in terms of pre and post-ICO?
- SALE: What are the sale details, and are there any potential issues arising from them?
- CAPS: Are the target caps reasonable for the project, and how attainable are they?
Token Growth Expectations
Expectation of token growth is the primary driver behind ICO participation by potential investors. Without the expectation of growth in value, a token sale will not be successful. As a culmination of all factors reviewed, the AmaZix assessment team estimates the future growth of the token’s value, which is intrinsically tied to the growth and prosperity of the project. Such estimates take into account all information about the project, including team, competitive environment, and presence, to evaluate a project’s “ceiling”. Leveraging the knowledge base of the team, recommendations are also given around how projects can optimize their growth expectations to increase long term value for token holders.
- FUTURE VALUE: Does the current token information indicate an increase in future value?
- DEMAND: What are the key factors that could affect demand of this particular token?
- LIQUIDITY: We provide a detailed evaluation around the estimated liquidity of the token post-ICO.
- ROADBLOCKS: Are there any factors that could prevent future growth in value? If so, we provide methods to mitigate these risks.
The team is made up of the individuals working on the project (both core members and advisors), and is one of the most essential aspects to assess due to its importance in the final project. “Invest in the people, not the product” is often preached, and with good reason. A strong team has a higher probability of producing long term value, and will also be able to better adapt to changing market conditions to ensure continued success. As a brief aside, readers will often see on review sites that so-called “ICO experts” rate teams as 5/5 or 10/10, simply because “they seem like good people”, or other surface-level reasons. At AmaZix, such a shallow analysis is deemed unacceptable. The reality of the situation is that teams (even great ones) are rarely perfect, and nearly all have at least some gaps. The AmaZix Assessment will critically analyze team makeup to predict to what extent those gaps will have on the project’s future success, and how easily those gaps can be addressed. We will conduct a deep due diligence report on the project team to ultimately determine if they will inspire confidence among investors, and provide suggestions on how to improve a team’s profile.
The core team is made up of those who will be working directly on the project; most often the founders and initial hires. The individuals who make up the core team are the single most important group in determining the outcome (success or failure) of an ICO and project. During the assessment, core team members are thoroughly inspected, with a particular emphasis on the C-level and founders. This analysis is not limited to whitepaper writeups, which often cherry pick facts. Instead, we first compare whitepaper bios to other available information (such as LinkedIn profiles and Google searches) to confirm information, and look for any inconsistencies or contradictory information. There is an exhaustive checklist that AmaZix has developed through assessing thousands of individuals, and each “no” is noted. Recommendations are also provided on how teams can further build confidence and credibility by leveraging the experience of their team members.
- MEMBERS: We provide a detailed analysis of the core team members, with particular detail on the C-level and founders.
- EXPERIENCE/MAKEUP: Do team members have the necessary experience, or are there gaps? How might these gaps affect the project? Is their experience properly communicated?
- INDUSTRY KNOWLEDGE: To what extent can the senior team be considered industry experts?
- PROFILE: How well does the team profile match the needs of the project? Do all come across as committed to the project?
- SIZE: Is the team size reasonable for the project? Will budget and burn rate be an issue?
- INVESTOR CONFIDENCE: Does the team come across likely to succeed, and will they build investor confidence in the project?
- CONSISTENCY: Is all information consistent across channels, or are there inconsistencies? Are there any issues that could cause PR difficulties?
Advisors are those who will be providing their expertise to the project, but not in a core member capacity. These individuals play an important role in delivering key industry or professional expertise, along with leveraging their professional network to help projects gain traction. In an ideal case, the group of advisors will also address any gaps in the makeup of the core team. The AmaZix team will perform due diligence on advisors to ensure they are relevant, applicable, and are being properly utilized by the team in investor relations.
- ADVISORS: We undertake a deep analysis of advisors to determine if they align with the needs of the core team and address any existing gaps.
- EXPERTISE: What areas of expertise do they represent, and are they relevant to the project?
- QUANTITY: Is the number of advisors needed and reasonable for the project?
- REACH: Do the advisors provide additional assistance beyond expertise, such as industry connections or reach?
- BACKGROUND: Do any of the advisors have histories that could cause PR issues?
The competitive environment details the market landscape external to the company, including the industry as a whole, and the key competitors within it. Having a detailed understanding of the competitive environment is key to any project as it can be used to further leverage opportunities, while mitigating threats, and is an important factor towards the long term success of a company. Projects do not exist in a vacuum, and neither should they be evaluated in one. The strong competitive environment assessment by AmaZix can shed light on the high level view of a project, and is used as a benchmark against which all aspects will be compared. We provide an evaluation of the external environment, focusing on key competitors, including their concept, competitive advantages, and existing traction. Recommendations are then given as to how projects can further utilize their competitive advantages towards differentiating their product or service.
- INDUSTRY: What industry does the project operate in? A detailed analysis is performed to give context to business and investment decisions.
- GROWTH: What is the projected growth of the industry, and how will it affect the project?
- COMPETITION: What is the competitive environment within the industry, both in terms of centralized and decentralized projects/companies.
- BARRIERS TO ENTRY: We assess the barriers to entry for new competitors to determine product/service defensibility.
- COMPETITORS: A detailed profile of key competitors is given, with particular emphasis on key metrics as a basis of comparison.
- POST-ICO: Are post-ICO plans realistic, and do they align with the needs of the external environment?
- KEY FACTORS: What are key external factors? Is the project taking full advantage of upcoming opportunities? Are they taking steps to mitigate upcoming external threats?
A project’s public presence is the overall public perception by the community, and includes internally produced materials such as whitepapers, websites, and blog posts, in addition to external channels such as Telegram, social media, and reviews. A strong, professional presence is essential for the long term success of a company, as well as the health of its token. Having multiple, trustworthy communication channels gives a method to reach customers and investors to increase adoption and token value. Due to the importance of presence, the AmaZix Assessment includes a detailed analysis on the project’s overall presence in order to gauge traction, as well as channel accessibility. Starting with our experience as the leading ICO community management provider, and adding the expertise of our key marketing and PR partners, the team is able to provide a full overview of a company’s current presence, across all channels, and provide expert insight into how these channels can be optimized to produce measurable results.
- COMPONENTS: What are the components that make up the presence, including whitepaper(s), website, and social channels?
- CHANNELS: Do all the essential channels exist? Telegram, blog, Twitter, Facebook, Bitcointalk, Reddit, etc.
- MODERATION: Are all official channels consistently and professionally moderated by the project?
- PRESENTATION: Is the presentation professional and does it reflect the brand across all channels?
- THOUGHT LEADERSHIP: Do elements such as the whitepaper, website and blog combine to demonstrate thought leadership in the industry?
- MARKETING: We analyze the existing marketing presence to ensure it is properly aligned to future growth.
- TRACTION: Does the project have existing traction and demand among the community? This is seen through social comments, reviews, and listings.
- SYNERGY: Do the website, whitepaper and social channels combine to form a synergistic message?
Assessing upcoming projects is an incredibly important process, and one that is essential to the growth of the crypto industry as a whole. While this overview merely covers the surface, we hope this blog post has provided insight into our process and the value it can deliver. The AmaZix Assessment can provide a detailed, full evaluation of your project, including critical analysis of all areas mentioned above. The experienced AmaZix team has helped many projects significantly improve their path towards a successful ICO and long-term token demand.
Curious about what AmaZix can do for you?
We’re always on the lookout for another exciting project to work on. If you’re working in the crypto space and planning an ICO, or just want help managing your communities, we’d love to hear from you.
Reach out to us on the following channels:
1. Telegram: https://t.me/amazix
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3. Website: http://www.amazix.com/
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