How to vet a NFT Project a week before it's launch?

A closer look at Squiggles, a project inspired from Doodles

It is really important to vet NFT projects before planning to invest in one for yourself. There are myriad details that need to be checked and verified before minting one. Here is a quick analysis of Squiggles, an NFT project that has recently attracted a lot of eyes and making some news. It's always better to do qualitative analysis before the launch, as a tool before deciding to make an investment.

There are different categories of NFT projects and each one of them should be analyzed separately in situ, as every one of them will have a different set of objectives, goals, community strengths, and management strengths that really make it successful. A quick analysis will help you duck a scam and a perfect #rugpull

Stage: 8 days to launch

Project Details -

• Public Minting/Launch Date: 21st Jan

• Minting price: 0.3 ETH, higher minting price is a good indicator tough

• Project Description: A collection of 10,000 Squiggles, with a roadmap for everyone to be part of SquiggleVerse, metaverse ready project. Their plan includes launching physical goods and accessories in the future.

• Founder: Arsalan, holder of Doodle #752

• Website: To be launched soon before the launch, and they have every information available on their discord.

• Follower Count (at the time of publishing this post)

  • Twitter:  43.6K

  • Discord: 184K

  • Instagram: 32K

Community Engagement -

1. Polls for Discord Launch and Giveaways - giving power back to the community

1. Multiple Giveaways with transparency

2. Discord Launch after set Milestones achieved - Only started after reaching 5K Twitter followers, as was planned

1. Followers Engagement, Authenticity & Activity

   1. After doing a follower audit of Twitter, the results were pretty impressive, a score of 98%, only 2% bots is better than many other projects, as we all know Twitter is a bot kingdom

   2. They have a very big and engaged Discord community, and all of them together removed 39K fake bots who were trying to scam the community. That's really astute management

   3. They have a very low Instagram engagement, but that really doesn't matter as Instagram is not made to build and manage communities

1. Star Power & Collaboration

   1. The founder looks like he knows really well about creating communities and holds a Doodle, a great project with a Floor Price of 12 ETH

   2. There are some big names from the industry with huge followings who support them and it’s important for a very strong network effect. This is a very good sign for a perfect launch and delivery of a future roadmap. Some of them are,

      1. Brandonn,eth, Co-Founder of Stoner Ape Club

      2. Jordan Daley, has 1M Twitter followers

      3. 0xTruls.eth, Co-Founder of Stoner Ape Club

      4. Shah, Marketing & Ambassador for @billionclubnft & @squiggles, has 230K Twitter following

      5. TCE Kero, has 329K Twitter followers

   3. Collaboration with ApeKidsClub (Market Cap of 24.33 Mn) for the giveaway

1. Roadmap

   1. They have a 5 phase roadmap, but with no specific timelines. Hopefully, we will soon see it on their website when it launches, as confirmed by an announcement on their Discord

   2. Creating a Treasury by contributing 15% of the revenue from Royalty to the fund and use this fund to purchase some Doodles, their 2D avatars project

   3. They will be prioritizing their resources to launch Squiggles in Metaverse and incentivize the community on various occasions like rendering

   4. Also includes launching physical goods and accessories for the community members

Do you know anything more about the community project, please do share. We shall keep a close eye on their progress and will try to share something every few weeks. TBH we all need to stick together, there is a lot coming in 2022, and tokenizing the metaverse is definitely going to be one of them.