Stay SAFE IDO, ICO, NFT, or other type of public sale


Some scams and rug pulls were recently revealed in Crypto, so I decided to post some key points to keep in mind before investing your money in an IDO, ICO, NFT, or other type of public sale. These are just some rules that I use every time ๐Ÿงต๐Ÿ‘‡ 2. Check the vision, what innovation they bring. If they're building a copy of something without any new features in the long run, they'll probably fail. If they don't have a working product yet, but the idea is brilliant, it could be good, but don't rush it! 3. Check the equipment. Only invest in projects with an anonymous team if they have a working product. Would you give a person you meet on the street $1000 if they say they will make the best application in exchange for a worthless signed piece of paper without a name? 4.Check if the team's skills are aligned with what they are trying to build. If they're building DeFi products and they're all artists and web developers, they probably couldn't do it. If you are building an NFT game and you don't have a programmer. NOT 5. Look at the functions of the equipment. If all team members have important titles like CEO, CTO, Manager... but they don't have any company behind them, that could be a bad sign. 6. Think about whether the price of your token is fair. For example: they sell 5% of the 100 million tokens, that is, 5,000,000 for $1 each. So they raised 5 million dollars. When all their tokens are available, the valuation of their company will be 100 million ? #FDMC 7. The acquisition schedule (unlocking the tokens). Make sure that the tokens you are buying can be sold. If they are locked, make sure that private investors' tokens are not unlocked before yours, because they will be sold and the price will โ—๏ธ 8. If a project's whitepaper is only available a few hours or a day before the sale, there's a good chance it's either unsuccessful or a scam. Investors must have at least a month to read about the project, search and ask questions โ—๏ธ #DYOR 9. Look closely at social networks. If your Twitter account has 20,000 followers, but your posts only get 10 likes, those are all probably bots. See which important people in the community are following them and what they are saying about the project. 10. Go to your telegram or discord servers and see how engaged your community is, if they are talking about the project, not just gm and gn. Ask tough questions, see how they answer, see how confident they are in the product

Answers 2

Another thing to add to the article: the project will be more attractive if large funds, especially tier-1 (a16z, Binance Labs and others) invested in it

This is very helpful article, but I think it must be in discussions, not in Expert Q&A