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— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
Deciphering Roadmaps... a thread of mini-threads
This builds on https://t.co/PQc5ZkfQuU and https://t.co/4MUJJYCZ1Q .
Here's how to gauge the project even w/o them stating their vision clearly, based on their plans, and figure out if they have any sustainable utility.
2/I will update this thread of threads as I publish the subthreads. I'm not going to have them all out today, so if you want to get the rest, please follow. And while you're at it, if you think others would benefit, please RT :-)
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
3/The general principle I use when evaluating roadmap items is that frequently, only a few are actually sustainable value, and most are just noise. At best, they are marketing/hype building. At worst, they are ponzi redistribution mechanics or even evidence of stealing.
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
4/That being said, it is worth saying that most of those roadmap items can be totally valid in the right context. Usually when I see them I discount them, but they can all serve a purpose. Most are amber rather than red flags.
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
5/A bunch of amber flags with a bunch of green flags is fine. The problem is when it's all amber flags, or all amber and red flags. So, without further ado, let's have the first sub-thread...
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
6/The first category of item is regular old marketing items. I discount them, they're generally irrelevant to long term sustainable value.https://t.co/EzPuK3JPSG
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
7/Next is giveaways, rewards, raffles, etc. In moderation, they should just be ignored. In large numbers, they are a concern.https://t.co/NZE904EhyK
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
8/Our first clear red flag when it appears on a roadmap: floor sweeps. Read on to find out why these should never appear on a roadmap:https://t.co/yfEHTMqLMO
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
9/Brand partnerships are another thing I instantly discount when I see it on a roadmap, sometimes with a red flag depending on how bad the rest of the roadmap is:https://t.co/AgIEndVPz8
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
10/Tokens, tokens, tokens... in most cases, mention of tokens on a roadmap is a red flag, indicating yet another mechanism for redistributing funds internally. Beware.https://t.co/b8OpFdifwo
— Daniel Tenner (swombat.eth) (@swombat) November 24, 2021
11/Staking. Basically, useful concept in crypto that's been imported into NFTs for one reason only: it helps prop up the floor. Amber flag.https://t.co/Bb3vCPGhkb
— Daniel Tenner (swombat.eth) (@swombat) November 25, 2021
12/Community funds. Can in some rare cases be a green flag, but generally amber and sometimes a sign of outright fraud.https://t.co/RcY4bgY4Ul
— Daniel Tenner (swombat.eth) (@swombat) November 25, 2021
13/Airdrops, companions, etc... they make sense when the project is already successful. They are empty items on a roadmap.https://t.co/vx44LdcRO6
— Daniel Tenner (swombat.eth) (@swombat) November 25, 2021
14/Merch. Merch is cool, but doesn't belong on a roadmap - hopefully the project has something better to talk about than merch. If not... why not?https://t.co/sgtV7oC1Bi
— Daniel Tenner (swombat.eth) (@swombat) November 26, 2021
15/Games. In some contexts, can be alright. Often overused as an "ultimate goal" for the project. Probably a sign the founding team doesn't get how hard it is to build a good game, or maybe just wants to squeeze more money out.https://t.co/6XkFLRPzXi
— Daniel Tenner (swombat.eth) (@swombat) November 26, 2021
16/Charity donations. Basically harmless, but also don't add any sustainable value to a project.https://t.co/IslK6VnOmL
— Daniel Tenner (swombat.eth) (@swombat) November 26, 2021
17/Whitelists on future projects, collabs, etc. Can be valuable in some narrow scenarios, but mostly to be discarded.https://t.co/CoRsth1otI
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
18/Metaverse integrations, VR, etc - too far away in time and too uncertain to be a tangible thing worth listing on a roadmap.https://t.co/3oWVi7q36c
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
19/Setting up a DAO: sometimes just a pretence, and even when it's not, probably not going to add long term sustainable value to the project.https://t.co/ZbLBJnDrHF
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
20/Burning/fusing - basically the same as staking, a purely floor-focused tactic to artificially make prices go up. Red or possibly amber flag depending on context.https://t.co/bNigokrEwx
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
21/Liquidity pools.. making trading easier is nice, but it does not add value to the project. Something more exciting should probably be on the roadmap, if it's a short roadmap (which it usually is).https://t.co/3URJwci1bE
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
22/And a final one (for now): "Diamond hands" systems. Can be sort of ok to implement in a live project (though still seems like a form of artificial floor manipulation)... but should definitely not be seen in a roadmap.https://t.co/5BvWsBQybf
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
23/Now, I've listed 17 different common patterns that are seen all over project roadmaps and are, in my opinion (which is grounded in startup investment), just empty calories that don't lead to any long term value being built.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
Are there any positive patterns?
24/I'm sure there are. But in a space that's so emergent I don't think they can be summarised as nicely as the negative patterns.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
Here's what I actually hope to see in a roadmap, though, that gets me excited:
25/Once I've figured out the vision (hopefully by having it stated upfront), I like to see roadmap items that are congruent with that vision.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
Are you building an investment club? Then a unique tool for sharing alpha will sound pretty good.
26/Are you building an artist launchpad? Then there should be some ideas bubbling about that sound like fun, likely to engage the people you want to follow you on your journey.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
Is your project educational? How about educational materials, videos, articles?
27/There's no way to pigeonhole those, because they derive from the project purpose and vision. Once the vision is clear, it's usually easy to find a million unique things that could be done to give it life. And usually they're not simple bulletpoints.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
28/Here's an example of a roadmap that I find compelling: https://t.co/U3rISeSd04
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
(Disclaimer: I'm invested). Not all items are ideal, but the roadmap shows the project is serious about achieving its vision.
29/And here is another one, which I'm not invested in - https://t.co/xDK0amGpFK
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
The last 3 items on the roadmap are unique - you can't just copy them. And they are the way the project intends to deliver sustainable value to its investors.
30/There are literally millions of possible business models online and offline.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
Each of them requires very specific things to be built or achieved. Those things do not typically consist of "give investors massages so they invest some more".
Most NFT roadmaps atm do.
31/I believe NFT projects can revolutionise the way businesses are structured, raise funds, and launch. They are like Kickstarter after it takes both steroids and the Protomolecule.
— Daniel Tenner (swombat.eth) (@swombat) November 27, 2021
I want to see more businesses launching this way, with clear vision, purpose, plan.
gm & gl