Here is an interview with George Wong, WeMerge founding partner - community about blockchain projects and the community.
Tell us a little about your background and how does it help your role in WeMerge?
I come primarily from a corporate background, having managed some of the biggest brands in the industry during my time in SOny and Leica. I've started a lots of startups and am currently in a few investment related businesses. My experiences combined allowed me to have a very wide view of the potential of WeMerge's Community and I/m excited about the prospects that blockchain enables. I like to see myself as someone who can connect the dots and hopefully create something that would impact people globally.What are your thought process in determining whether a project not only has potential, but also sustainable?
I like to say that tokenomics is key but even that term takes different meaning for different people. In many cases, the tokenomics has to be considered and created. We have to ask the fundamental question, why would anybody want this token in the short and long run? It's obvious that tokens would form the core of blockchain projects as it acts as incentive for participation. But, if nobody desires it, its not really an incentive. There are also many projects that are unnecessary because the core business doesn't actually need blockchain. It's purely used for fundraising. And if they is the intention of the token, then I say it better be a security token rather than a utility one. No point pretending to be something you are not.What are some tips you could give our viewers before commiting resources into cryptocurrencies?
Don't put everything in. Not yet anyway. There is still a lot of votality in the market. Invest what you are confortable losing, learn to conduct due deligence on projects, understand what you are actually buying and resist the temptation to just speculate on everything. There's plenty of projects out there, you are still likely to come across a diamond even if you miss a few.