I actually already dropped a Twitter thread on this, but I'll sum it up here for posterity.
https://twitter.com/alucard0x/status/1570690757681631238
Valhalla is the latest in a hype train of web3 gaming projects that are focused on esports. The meta now is that esports is somehow going to be the bridge that brings web2 gamers into web3. Where this new meta comes from, no one knows. But this project is expected to do well because it has the hype train behind it!
The Twitter thread was focused more on what is wrong with the project and why you will probably lose money if you attempt to purchase the NFT at launch. You can read that thread above if you like. But this short article will be focused on what they do right.
One – they create artificial scarcity.
No one ever really knows what nepotism gets the first ground swell going in a project's favor. Trust me, it is never random when you see a random project come out of the blue and succeed. Valhalla has $15 million worth of venture capital money behind it, and that seems to have come from one of the founders, successful experience building businesses before he came into this space. It seems they have used some of that money to break terminal velocity and get the ball rolling.
Once you get that critical mass, the best thing for any project to do is gate further entrance. Valhalla is building up high for its project by doing the same thing that Degods did — make you go through an application process to get in. Not only that, but you must be recommended by a current member before they will even consider your application.
Two — they create a mysterious brand.
If you look on the website and in the branding of the project, you will see a huge mystery behind all of it. Everything is really a black box, including the features they plan on coming out with in their tooling. They hide this behind their lawyers so they don't have to tell you what they will actually do to one up Twitch, Facebook and YouTube, which they hope to compete with via their streaming service.
Everything from the font they use on the website to the way they organize their AMA's is made to build on this mystery. For all of the NFT retail degenerates who say they want transparency and doxxed founders and more and more information, they sure do fall for this trick every time.
Three — they talk big.
Everything with this project is huge à la Donald Trump. This company has a big vision, and you can't help but get excited when you listen to them talk. This is something for everyone to take in – logic really doesn't play much of a role when it comes to raising money. It is all about emotion, and you can't put the brakes on your vision when you are describing it to the people you want money from.
So this will be a project to watch if you are looking to invest in an NFT that might "go to the moon" or you, like me, want to eventually be a founder behind a successful and utilitarian project. Follow me on Twitter for more information and tips on how to make money in crypto.
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