How to evaluate crypto projects like a professional venture capitalist?

When you get a new project, many people don't know where to start. Actually, as long as you clarify a few key questions, you can tell whether the project is truly valuable.

First, clarify the basic information of the project and token—name, token symbol, current market cap, and how much you plan to invest. These data points may seem simple, but they can help you quickly assess risk benchmarks.

Next comes the hardcore analysis. First question: what real problem does this thing actually solve? Don't be fooled by the white paper; ask yourself whether anyone truly needs this technology. Second question: how is the code and product quality? Has it been audited, and is the development team reliable? Third question: what does the competitive landscape look like? What similar projects are already in the market, and how does ours differ? Fourth question: is the economic model sustainable? Is the token distribution reasonable, and will the incentive mechanisms lead to long-term inflation? Fifth question: is the community and governance sufficiently decentralized? Is the team's power concentrated, and do token holders have real influence?

Using this framework to evaluate projects can filter out the noise and clearly see which ones are truly innovative and which are just hype.