When people hear the word gem they probably assume something like finding a diamond that hasn’t been found yet but instead it’s a blockchain project and their utility token. While it is still possible to have tokens and projects give those 1000x returns that people are searching for when they talk about that micro cap gem. However, this will not be about finding the micro cap gem that can give you insane returns really quick. This is what I believe to be the best process for discovering blockchain gems, big or small projects with market cap of any size. The goal of this process is to find those extremely unique projects that you just can’t compare to anything else, that practically no one knows about, and that people just push off to the side because they are not a top 100 token.
Searching:
When I am looking for a project I am extremely random about it and just go through lists of projects and read small facts about ones that happen to catch my attention. There is no specific reason a project catches my attention while looking in this way, however I also like to think of unique or interesting things that could be possible and search for projects that possibly fit along those lines. One thing I have found to be quite useful is looking at the projects of other blockchain partners and their partners because obviously they are partnering up in order to do something that the original one cannot accomplish or was not designed for. The last thing I like to do is search for projects that are already established but are lacking in areas and then I try to find a project that is working to compete by building something similar while fixing the problems of the other project.
Experimentation:
This is kind of an obvious thing when it comes to the cryptosphere in general because of how much there is and on top of that it all changes twice as fast. Where would we be, in general, without experimentation in the first place? Well, we wouldn’t be walking because we would have never tried that, so this is absolutely a must do and it must be properly experimented. What I mean by this is that in order to get what you want out of the certain gem you found you must utilize whatever it is that the project is building. This doesn’t mean you have to go buy their token and invest a bunch in the token, it just merely means to see if the project will continue doing what made it unique in the first place.
Utilization:
The biggest thing that matters for me when looking for a blockchain gem is the current and possible utility it can provide that others cannot. What can be said about something that has no utility? Well, would you ride a bike with no wheels? Probably not because you wouldn’t make it anywhere. So why would you want a project that is supposed to be a gem to have minimal utility as a whole? Obviously you wouldn’t, that’s why when I choose my gem projects I make sure they offer multiple types of utility. Mind you, utility can range from anything as simple as an NFT farming platform that makes farming their token like playing a game to a fully integrated blockchain web browser that records and keeps all your data safe and every action is logged as a transaction on your wallet. If you expand your horizons you may just stumble upon the next big project that you can have the pleasure of taking part in bettering the future. Not every project will make it, there are just too many, but the real unique projects that take that next step in innovation will most certainly be there for the long run.
Thank you for taking the time to read my article. I hope this has helped give some information and encouraged people to do some more research! Any comments are greatly appreciated!
~Trever Russell
DISCLAIMER:
I am not a professional financial advisor, all information within this article is personal opinion based on my experiences, nothing in this article is meant to serve as financial advice and shall not be construed as financial advice in any form. The sharing of my personal experiences is for entertainment purposes and I nor cryptowriter can be held liable for any information which has been misconstrued and wrongfully utilized as financial advice.
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