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How to Research a Blockchain Startup

By Baizi on 2023-01-16

How to Research a Blockchain Startup featured image.

When considering a career in the blockchain industry, it is important to thoroughly research any startups you are considering joining. This research will help you understand the company's goals, products, and overall viability in the market. In this post, we'll discuss some key areas to focus on when researching a blockchain startup.

  1. Team and Advisors: The team and advisors behind a startup are crucial to its success. Look for individuals with a strong background in blockchain technology, as well as experience in the industry. Check their LinkedIn profiles to see their past experience, education and if they have any notable achievements.

  2. Product and Use Case: Understand the startup's product and how it is intended to be used. Look for companies that have a clear and unique value proposition, as well as a solid go-to-market strategy. Also, check if the startup already have any working prototype or MVP.

  3. Tokenomics: Understand the startup's tokenomics and how it plans to use its token. Look for companies that have a clear use case for their token and a well-designed token economy. Also, check if the startup's token is already listed on any exchange and its trading volume.

  4. Legal and Regulatory Environment: Understand the legal and regulatory environment in which the startup operates. Look for companies that have a clear understanding of the laws and regulations surrounding their industry and are taking steps to comply with them.

  5. Community and Partnerships: Understand the startup's community and partnerships. Look for companies that have a strong community of supporters and a strong network of partnerships. This can be a sign of a well-respected and well-connected company.

  6. Financials: Understand the startup's financials. Look for companies that are well-funded and have a solid financial plan in place. Also, check if the startup is profitable or not.

By conducting thorough research on these key areas, you will be able to make an informed decision about whether a blockchain startup is the right fit for you. Keep in mind that no startup is perfect, but by researching a company's team, product, tokenomics, legal and regulatory environment, community, partnerships and financials, you can get a good sense of its overall viability and potential for success.