Project evaluation hierarchy that actually matters:

1. Community - your real moat
2. Marketing - how you scale attention
3. Technology - table stakes, not a differentiator
4. Backers - signal but not substance
5. Funding - least important if 1-2 are strong

Most founders get this backwards. They obsess over tech and VCs while their community is dead. You can't buy organic engagement. You can't fake real believers.

The best plays have cult-like communities before they have working products. Look at any successful token launch in 2024.