I've been a bit dizzy from the pre-sale projects these days. First was yesterday's Tangren short video @10KWorld_, which had all high FDV pools opening, directly entering a big survival mode. Then today, @virtuals_io's genesis launch project @arbusai.

The mechanism of the Genesis launch itself is quite reasonable, as it allows users to bid using points earned from staking and Yap, obtaining different allocation quotas for new projects, with each project's hard cap set at 112,000 $virtual, approximately around 220K.

Then the problem arose, @arbusai itself was over-subscribed by 10x, indicating high interest. As a result, the project party directly stated they were undergoing a strategic upgrade, "to reduce the risk of sniper bots entering at a low valuation," by launching at a higher FDV.

It's evident that the project party believes the interest is even higher and wants to capture some small profits, even extending the token unlocking period by double is still quite profitable. I did a simple due diligence on the project, and it’s all about infofi and data layers, but the actual delivered product is just a waitlist, which feels a bit inflated and empty.

Of course, the virtual platform itself does not bear too much endorsement for the projects, only providing relatively slow-paced gameplay. But the project calling the increase in hard cap a strategic upgrade in cooperation with virtual is a bit too outrageous. I don't know how friends who want to earn yap points interpret this as good news.