Another new interview with a forecaster, enjoy it.
1. How do you review a project?
Scammers are usually not proposing novel forms of human interaction that facilitate value creation – they are looking to get rich quick off of people who are also trying to get rich quick. Scams usually have a copy-cat vision of selling out to institutional investors. If the team’s attitude towards crypto is that it is just digital bullion or some kind of tradable asset – that project has a much higher likelihood of being a scam. Lacking a strong commitment to a vision of the future, is almost always a huge red flag.
Before I can recommend the project to anyone, I have to know that the team is tough and smart enough to persevere. Can I easily find the portfolio/previous works of the team members? Are they willing to relocate geographically if rules in their area change? Are they willing to work over nights if sudden issues arise? Are they trying to split time with a family and a start up? Do they work well in teams? Are they frequently available to answer questions? I’m looking for solid proof that I can publicly defend evidence which proves that the team knows exactly what their vision is and has the technical aptitude to build it.
The team needs to prove that they know exactly who their competitors are going to be and how they compare. Is the project going to disintermediate a middle man? Is the platform going to be decentralized and censorship resistant? A project which doesn’t acknowledge that serious competitors or obsolete middle men may attempt to sabotage their operation is likely to fail to take proper security precautions.
I’m also looking carefully at the token model to see if contains rewarding incentives to attract community participation. Was there a large pre-sale to an early round of private investors who plan to to dump as soon as it hits the market? How many tokens will be created? Is the ratio of eth to native-token appropriate? Does the team have a reasonable estimation of what the project will cost to realize? Projects which succeed directly reward the community for interacting, as well as provide real utility and frequent active engagement.
If the project should be funded, the following questions regard brand awareness and marketing. What is the quality of out reach materials? Do they have enough explainer videos: a two minute, four minute, 10 minute, full live presentation, interview with a professional reviewer, an open forum crowd source interview? – Was it authentic? Promotional advisers? Word of mouth marketing strategy? Do they plan to engage the early adopters in marketing? Does the project have a telegram channel? Blog? Active community participants? How does the PR representative deal with annoying or adversarial commentators? Who were the code auditors? How long and how public was/is the code audits? Have they identified potential partner projects that also used Wings?
2. Did you have prior economic evaluation knowledge?
3. What was your biggest reward?
The goal of rewards is for the start up project to incentivize accurate predictions, then use data backed by the reputation history and accuracy rating of wings forecasters to support valuations. The rewards are determined by the start up project, usually in the form of their native token to gain early adopters with a long term interest in the platform. A wings token holder never risks losing their wings. Wings tokens represent the weight of a forecasters belief in a specific sales forecast target. The biggest reward is earned by having the most tokens placed on the accurate value raised by the start up project.
My best rewards were for projects that I also understood the technology the best. Fortunately, the ability to lend wings tokens to specific industry experts is an upcoming platform feature. For example, if I am an expert in supply chain logistics but I have a friend who is an expert in payments processing, we can create an agreement to share predictions for our relevant skill areas.
4. Which of the projects that appeared on the platform did you find the most interesting? Why?
Flixxo – peer to peer video sharing with content creator and advertiser payment systems, liberates content creators, free thought seekers. Honest conversations + self sustaining crowd source media will lead to market-wide growth and general population adoption
IDEX – decentralized (hybrid) exchange, very large amount of listed tokens, excellent user support, never give up control of your private keys
Latium – freelancing/microtasking platform, post or complete jobs for crypto from anywhere in the world, includes reputation and profile system
KickCity – Event organizing, promotion and ticketing platform, find events by city, topic, incentivizes word of mouth marketing, earn referral rewards for promotion.
AiGang- Crowd source insurance protocols, prediction markets, insurance pools, automate insurance pay outs, permanent record of claims
5. Did you invest in any of the projects that were on the platform?
6. What do you think of the future of the platform?
In order to protect Wings from spam, a security deposit is required to list a project proposal. I support the decision to reduce the collateral amount and make project listing affordable to many more innovators. I think the goal of the collateral should be to allow as many ideas as possible to list on the platform while still serving as a spam barrier. I expect the result will be an increase in traffic and competition for attention. Wings channels the wisdom of the crowd in order to turn ideas into reality. It is the most accessible innovation engine and job creator in human history.
7. What would you change from the platform?
The Beta platform and mobile device web browser compatibility just launched – I would prefer to see the white paper fully realized before proposing changes. I think it would be a good idea to have tutorial videos available on the platform.
8. Is there anything you’d like to add?
“A scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die and a new generation grows up that is familiar with it.”
– Max Planck, Nobel Prize in Physics
Thank you very much anonymous forecaster!