Every project over the past four years has, unfortunately, turned into nothing more than a massive sales funnel—just like basic marketing. This is no longer the cypherpunk era of 2013–2017, where people on GitHub were genuinely passionate about building something meaningful for blockchain. Back then there were real innovations, real ideas, real attempts to improve the ecosystem.
Today everything has been reduced to a simple and predictable model:
- •attract capital from funds,
- •create a roadmap for marketing the idea (not an actual product),
- •generate attention and profit,
- •let the team and early investors exit in profit (token collapse can always be blamed on the bear market).
The Mechanics of Modern Crypto Projects
Analyze any project that has launched or is launching right now. Where ICO/IDO rounds used to dominate, now the trendy mechanism is airdrops or point systems. This structure creates:
Social Proof
This is one of the strongest behavioral forces in human psychology. In crypto, popularity equals perceived success.
A project with strong social proof looks much more attractive than a project with similar fundamentals but less hype.
Key metrics used to demonstrate social proof:
- •follower counts on social media
- •active users
- •trading volumes
- •number of token holders
- •well-known investors or partners
Alpha insight: The most effective influencer marketing campaign is often just posting a chart with a caption like “Project X looking good here” or “Volume on X is insane.” It’s the strongest form of proof-of-activity.
Leveraging Trend Narratives
A project must attach itself to whatever is “hot” in crypto. Projects building in trending sectors convert far better—even with the same social metrics.
Core principle: Narratives (branding and messaging) shape perception more than the actual product.
Example: Avalanche originally pushed the Web3 gaming narrative, then shifted to institutions, RWAs, and stablecoins—essentially hijacking whatever trend was generating attention through powerful ambassadors.
Converting Interest into Intrigue
Once curiosity is sparked, you must convert interest into real intrigue through trust and incentives.
1. Authority
In today’s “trust crisis,” showcasing authority through the team and partners is crucial. Logos, podcasts, conferences, photos with reputable figures—all strengthen trust.
That’s why influential creators are brought in. Of course, they’re paid—or given allocation. It’s a win-win: you launch a project, give influencers token allocation (air), and they have every incentive to pump it. Higher token price equals their bigger profit.
2. Attractive Offer
To make users participate, the project must give something tempting—usually financial.
Tactics:
- •limited participant spots
- •tokenomics with a defined airdrop supply
- •bonus deadlines
- •projects stretching activity for years while waiting for the perfect market moment
Creating Desire and Commitment
This phase converts intrigue into clear desire and commitment. You must create the perception of uniqueness.
5. Simplicity
People avoid complexity. Your interface and message must be clear and intuitive.
Example: Instead of vague slogans like “security is the commodity we exchange,” say: “we make your crypto trading safer.”
6. Unique Mechanism
A project must stand out with a unique angle.
Example: Hyperliquid’s community-driven DEX uses trading fees to buy back tokens, creating a “flywheel effect” that boosts both usage and price. This mirrors business concepts like the law of leadership and blue ocean strategy.
Case Study: Scroll's Financials
Just look at Scroll as an example. They raised $80 million. One year later their daily revenue is around $500.
Genius? Yes—because the funds have already made more than enough simply selling tokens they received out of thin air.
Which leads to the real question:
Should we even pay attention to fundamental metrics anymore?
Or should we focus more on the technical side—charts, liquidity, and the entry points of funds and market makers?