Detailed breakdown and great findings @louisthomas. Reminiscence of tech investing in early 90s.
A few criteria to look out for:
(1) solutions to critical existing issues
(2) all-star team + advisors (ie. execution, network)
(3) tokens held by them vested for period of time (ie. commitment)
(4) alpha/beta ready (ie. progress)
(5) competition (ie. first mover, edge, moat)
(6) adoption rate (ie. traffic potentially drives revenue, demand)