I analyze a 10X potential crypto-project | Discover my process & start doing your own research!

Every investor dreams to find the next crypto project to explode x10, but it’s far easier said than done! Either you follow Kim Kardashian reco, or you start investing your time in analyzing projects.

Throughout this article, we’ll review four essential criteria to analyze before considering investing in an early-stage crypto project.

Disclaimer: This is in no way financial advice, so please, learn how to make your own research and don’t rely on people.

Let’s get started with the evaluation of Ternoa, a French project I'm following since its launch.

Ternoa |The Blockchain of augmented NFT’s

1. Analyze the Business environment

• The founders
  Do we know who are the founders? Do they have previous significant entrepreneurial experience? How many are they?
  Analyzing the founding team is essential to consider the seriousness of an early-stage crypto project.
  Ternoa has a solid team of founders coming from diverse backgrounds, led by Clément Tequi & Mickael Canu. Mickael Canu is known as one of the best engineers in France in the Web3 industry, supported by ecosystem leaders such as Owen Simonin.
• The team
  Teams are the heart of the project, with the mission to achieve the founder's visions. Let’s see who’s building & scaling the product.
  Ternoa quickly grew to build a remote team of 45+ international talents, including game designers, software engineers, product owners, community managers…
• Investors & Partners
  Who are the investors & partners? Do they focus on web3? Are they involved and providing additional experience and/or network to the team?
  Ternoa is backed by Master Ventures, DAO Maker, Waterdrip Capital, Ark Stream Capital, LVT Capital, Morning Stars Ventures, SevenX, GD10 ventures, MRBeast, DFG, Gate.io. They have a strong network of advisor & partners. It includes Polygon, Elrond, Kyve, AscendEX, Just Mining, Gate.io, Phala.
• The Road Map
  Each project, especially in web3, has to define a clear and up-to-date road map. Make sure to check what is on schedule and if it sounds connected to your reality (achievement, product development, fundraising, …)
  Ternoa roadmap is clear, and up to date. It is easily accessible on their website

2. Analyze the Business Model

• Use case and utility
  Blockchain technology can improve services that are important in many industries. Evaluating a project's utility and real-world use cases is very important when it comes to defining a 10X potential crypto project.
  The team behind Ternoa says the platform’s services can “bring the future of NFTs by adding unique utility and actions to them.” This is possible through Ternoa’s blockchain, allowing unlimited use cases for decentralized data encryption, long-term storage, augmented content, and VR room access granting.
• User adoption
  User adoption is the process by which new users become acclimated to a product or service and decide to keep using it. Users only adopt a product if it helps them achieve a goal & if the UX is decent!
  Ternoa has a very fast-growing augmented NFT ecosystem including Art, Music, Sport, Gaming, Metaverse, and Web3 applications. It includes users such as Cross The Ages (one of the most promising French P2E game) or Meta Fight (the world’s first Fight & Earn trading card game).
• Tokenomics
  A big part of a crypto project’s success can be attributed to its tokenomics, which determines two things about a crypto economy:
  - The incentives that set out how the token will be distributed
  - The utility of the tokens that influence its demand
  CAPS is the Ternoa blockchain token. Transactions made on the Ternoa blockchain are carried out in CAPS. It is used in particular for the creation of NFTs, Encryption, and storage data over time. Token allocation seems fair between founder's team, investors, partners, staking rewards, and more. The full tokenomics is available on Ternoa Tokenomics
• Competitors
  As things move very fast, identifying potential competitors in the blockchain booming market is always a good idea.
  While Ternoa develops & provides a fast, secure, and decentralized network, the challenge will be to attract enough builders & users in a booming NFT & P2E market where different networks already exist.

3. Analyze the Technology

Is the technology open source and well documented? Can we easily find and consult a GitHub? Is there a dedicated space for developers?
Even if you’re not able to understand all technical specificities, understanding the basics and giving a look at the developers’ world is essential

• Innovation
  Is the solution innovative? Blockchain is a very fast-evolving environment where innovation is key!
  Ternoa is an NFT-focused chain based on Substrate that aims to provide the best experience for developers and users of NFT-driven dApps.
• Open source code
  Open source software is code that is designed to be publicly accessible.
  Ternoa code is open source & all info are fully transparent and available on https://docs.ternoa.network/
• Technology| smart contract &/or token audit
  Nowadays, one of the most pressing problems for smart contract deployment is security. A smart contract audit service provides checks for known vulnerabilities that apply to each smart contract’s
  Ternoa token CAPS is certified by. audit-certik-blockchain

4. Analyze Marketing and communication strategy

• Social Media and community
  Social media have revolutionized how people communicate online, and have introduced many new features to improve user experience. As of today, there is no particular handbook for this new era of marketing, Web 3 marketing is about building meaningful relationships with communities.
  With 130K+ followers on Twitter and a very active & supportive community on Discord, Ternoa is one of the largest French Blockchain communities. They interact with their community on a daily basis through multiple channels (Twitter, Youtube, Discord, Telegram,…)
• Online and offline visibility
  Is the brand involved in different online & offline events? Are they sponsoring worldwide events? Are they giving conferences?
  Ternoa is sponsoring & giving conferences at multiple worldwide events, such as NFT New York City, PBWS, NFT Biarritz, and more! They are a main player & leader in the French ecosystem.

Now that you have in hand a methodology to analyze early-stage crypto-projects, let’s do it! And feel free to share some projects you’re supporting.

Robin

Sources:

Ternoa * First NFT-Centric Blockchain.

Develop and measure user adoption | Mixpanel Blog

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