this thought process is inherently whats broken in this industry as a ‘founder’
when building any web3 project, you ultimately have two options on how you can earn money (which is 99.99% the reason why anybody would build a crypto project)
Option A: You build a product that has a sustainable revenue model (no token needed). You earn revenue/profits like any traditional online business would. Congratulations, your product has real PMF
Option B: You earn from liquidations on a token. This is where most projects sit. You can build a ‘product’, fake all the numbers, build up the hype, even get investments from VCs based on ‘onchain data’, revenue, and fundamentals. At the most basic level, you don’t even need a product, just launch the token, make deals with MMs, and in most cases earn undisclosed amounts via token liquidations.
Putting aside all the bad actors in this space, one major flaw as a founder is, if you cannot solve the problem of Option A, your only option is B, and if you do it publicly, you are scrutinized, and your project suffers. If you do it in secret, you’re shady and can be considered a scammer.
Tbh, most projects don’t need a token, they just can’t solve the biggest issue; which is how to actually earn money. Launching a token is the easiest way. Especially when speaking high level with t1 CEX involved.
So what is the solution?
in my opinion, people need to stop trying to onboard the next 1 billion users, and figure out how to make the current users care.
the only thing that will onboard new users to crypto at this point, is a product that is utilizing blockchain on the back end only. the front end will be totally seamless
VITALIK KEEPS SELLING
$ETH
Why should anyone believe in ETH if the founders keep selling