If I have learned anything about the NFT world, it is this—there is no end to the creativity of artists and project ideas. Many of them succeed; even more do not. Demand is high, but supply is higher. So, how can you find a project to join that has a high chance of success? I look for three key “ingredients” before I invest my crypto into a project:
- Great art: This is what people see first. They may not buy because of the art alone. In fact, they should not. However, they will reject bad art. Besides, if you are going to own an NFT, it is always a positive to have one that you enjoy.
- Detailed roadmap that points to long-term success: I look for projects that have a plan that is realistic and gives back to the core community of holders.
- Strong leadership team that is transparent: Personally, I do not even think about projects that have inaccessible leaders. I prefer a fully doxed team—meaning I know who they are. That is not always necessary. Sometimes you can go by reputation within the space. It is best to avoid projects that have a leader or leaders that hide behind a veil of complete secrecy.
I have found a new project that hits all three marks with precision. It is called Phunky Fungi. I really enjoy the art of this project as much as any I have looked at recently.
More important than the art, is the plan. Here are some high points of this project’s roadmap:
“We’d like to ensure the progression of psychedelic exploration to heal the soul and mind. Thus, we’ve donated an initial gift to the Johns Hopkins Center for Psychedelic and Consciousness Research and have pledged 6 figures toward psychedelic research and psilocybin therapies following our mint.”
Of the hundreds of projects I have looked into, this is unique for sure. They also plan on creating merch that will correspond with the quirky art. They are calling it, “Phunkadelic Threads.” I can only imagine what creative products will stream from this high-level thinking.
Where it gets really interesting to me is with their plans for integrations of technology into the NFT space. The project devs are planning to enter the metaverse via AR and VR technologies. They write, “We are in the middle of a paradigm shift in which the minutes of our lives spent in the metaverse will soon outweigh minutes spent in the physical world. This is exciting and scary all at once. As humanity transcends into this new meta we must create a sanctuary that encompasses all things positive in the universe.”
The roadmap points out that while many people are afraid of the dominance of technology in our society, “The Phunky Fungi community seeks to reframe that narrative and prove that the power of tech can be used to further strengthen human connection.”
Through their “Mycellium Network” they plan to “facilitate a strong bond between like-minded people via AI built into your Phunky Fungi. Your Fungi will learn about you through inputs, responses and how you interact with the world around you. They will store this data in their Mycelium Network which will be used to connect you with fellow members of the community in an innovative and social way within the metaverse.”
I will let you readers use your imagination here for a bit, but this just sounds like FUN! And as far as investments go in NFTs, if they can pull this off, I would expect the long-term value of this project to look very nice. Their founders are very experienced and qualified to make this happen. You can read about them on their website.
There is much more found in their roadmap such as their plans for a DAO community and a Web 3.0 Incubator.
What I gather from all of this is that their team members have a plan for a strong, vibrant, unique, revolutionary community in the NFT space. They are minting on March 12. You will need to shop on Open Sea. Prices may very well rise quickly on this project. Refer to the links below to find their official OS link. As always, DYOR.
Their Discord server has recently been closed to protect their community from bots and last minute scams. They will reopen after the mint. You can learn more about Phunky Fungi here:
Happy Shroom Hunting!