Follow me for visual mental models of web3 concepts. Previously @McKinsey @Immutable
Sydney
Joined September 2019
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Nigel Lee 🅧 retweeted
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Nigel Lee 🅧 retweeted
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Nigel Lee 🅧 retweeted
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Nigel Lee 🅧 retweeted
🔥Huge shoutout to @GamesBeat for their write up on V.O.I.D. 🔥
gamesbeat.com/tainted-studio…
#gaming #GamingNews #Web3Gaming #IndieGameDev
TIL @iliensinc of HYPE fame replies to feedback in their Discord *daily*
This has been going on ever since (I checked Discord archives).
As of today, $HYPE is a ~$40bn token.
Community feedback is worth a billionaire's time.
Study @HyperliquidX and @chameleon_jeff
Hey web3. I've been out touching grass.
What did I miss?
What narrative are we ape-ing into this time?
Yap early, yap only, yap often.
@_kaitoai is connecting AI, attention and capital with Yaps.
Just claimed my social card and I'm accumulating Yap points in real-time.
Claim yours 👉 yaps.kaito.ai/referral/11681…
Why do teams and founders today think, "if only I had someone great at building narrative, then my token would moon." As if narrative is the only problem!
Remember Theranos?
WeWork?
Fantastic narratives until it all came crashing down.
Narrative is just one ingredient.
How do you grow token value post 2024?
Once upon a time, it was quite easy to launch a token worth hundreds of millions if not billions. But that era is over.
A lot of tokens; not a lot of holders
Token value is simply supply and demand. The tricky part has always been the demand side of the equation. My latest blog explores my hypothesis for drivers of demand and how it’s changing.
If you fundamentally agree that:
- there are too many tokens in the market right now
- demand is fragmented across many L1s and L2s
- projects and teams run identical playbooks and end up with commodities
Then this piece will help you and your teams frame the state of the market of tokens.
You'll find:
- quantitative data on the token supply problem
- the mix of institutional vs retail demand
- case studies of tokens that have done well and not so well
Finally, by the end of the article, you'll agree with the root cause of this problem which will be half the battle and teams can try different ways to solve this issue...
... or not 🤷♂️
If you end up disagreeing, that's great for me too! Either way, comment below. I'd love a different take or feedback.
Here's the link to the blog post! nigellee.substack.com/p/toke…
Or get it straight to your inbox when you subscribe to my diary of thoughts and mental models on web3 things.
Hmm $PYUSD only has ~12.6k holders?
Doesn't feel aligned with the $1B TVL news on @solana. Is there something wrong with the data? @tokenterminal
If it's correct then... why so little? All institutional? No retail?
Probably a controversial take.
We're entering the Proctor&Gamble era for tokens (and arguably tech). Tokens are a commodity.
It now boils down to brand and audience building.
No one cares about your TPS.
For teams with tokens, another BIG problem—where do you launch it?
Not only are there too many tokens (supply is high)...
But capital is also fragmented across many L1/L2/L3s (demand is "lower")...
Even Solana is considering rollups and L2s. This trend will continue.
Crypto tokens are out of control.
The following are the approximate number of tokens listed in:
2017: ~600
2021: ~4000
2024: ~13000
And that's just the ones in aggregator websites like CoinMarketCap and CoinGecko.
Do you know how many stocks are listed in the NYSE? 2,300 listings. (8,000 listings if you include a recent upgrade which includes ETF listings)
Meanwhile, 11,800 tokens are produced every 24 hours from pump.fun alone. 🤯
The supply of crypto tokens have massively increased. As the interest in web3 and crypto goes up, the supply is not going to slow down. Don't even get me started on the demand...
But what does this mean to teams? Supply versus demand. Expect:
1. Launching and creating demand for a token to be harder
2. Taking care of a live token to be exponentially harder