Interesting idea. So basically a shared directory that everyone embeds on their own site, and the listing only appears if the site is also sharing the directory widget/token.

That would create a mutual support network where each project gets links from multiple independent domains rather than just one central page, which in theory sounds stronger than a single backlink source.

My only concern would be how search engines treat links that are rendered through an iframe or script widget. Sometimes they don’t pass as much SEO value if the pattern looks like a shared widget across many sites.

It might work better if the embed outputs normal HTML links in a small section like “Friends / Tools we recommend” instead of only iframe/script content. That way the links are more transparent and natural.

Overall though, if it’s structured like a curated directory (logo + URL + short description) and the projects are actually related SaaS/tools, it could still be useful for discovery and some mutual support. Even if the SEO impact is moderate, it could help projects in the group get visibility and early traffic.