Whenever the market is not doing well, phrases like these often appear in my collaboration group: PR, AMA, joint GA activities... These are all ways for project parties to tighten budgets and survive the winter at low costs.
Those web3 projects without cash flow revenue get VC investments, creating 'lively' communities and on-chain data according to exchange data indicators, waiting for the bull market to spend budgets on KOLs and community promotions. When they go public on exchanges, over 80% is dumped, VCs incur losses, KOL investments fail, retail investors get harvested, and those who try to profit get countered. Web3 has turned into a 'slaughterhouse'—who is to blame?
An obvious trend is that coin-selling projects without cash flow revenue are gradually being marginalized. Smart VCs and KOLs have started to focus on building a good narrative and a quality product to achieve 'positive' returns. Successful agencies are no longer providers of false prosperity but have become enablers for quality projects, bringing innovative market and product advice to collaborative projects regardless of market conditions, and selecting the most suitable KOLs for co-construction.
And you, my friend, are you still paying for empty slogans and false prosperity?
This year, the conference held activities in Hong Kong, Dubai, Tokyo, and Singapore, but I didn’t record them in writing except for being busy building connections. Recently, in order to save my increasingly poor memory and gradually declining writing ability, I started to think and record in writing, so let’s talk about my week in Singapore.
It is no surprise that Singapore is prosperous and international. The large-scale main venue and more than 700 side events have destined Token2049 to be the most lively event in the second half of this year. In addition to tourists who come to watch F1, there are also Web3 workers in the hotel. The frog porridge every night is also full of crypto acquaintances.