The scarcity mindset in crypto is wild to watch. Communities turning on competing companies instead of simply backing their chosen projects is common.
The scarcity mindset in crypto is wild to watch. Communities turning on competing companies instead of simply backing their chosen projects is common.
On-chain interactions can be zero-sum, but that outlook doesn’t serve companies well. Competition drives improvement, and the industry can expand with multiple winners meeting different needs.
How many fast-food chains sell similar menus? Gambling sites? Clothing stores? Alcohol brands? The point is clear.
Negative attacks on companies just because they aren’t the initial favorite aren’t a long-term growth strategy for the industry people spend time in.
Other projects don’t need to fail for one to succeed. Too often there’s little effort put into building durable companies in an exit-scam-prone environment, especially those aiming for mass-market product-market fit.
When a company is grinding and gaining traction, even if it isn’t the one someone backed, it’s better to respect the hustle and recognize the benefit to the space.
Be generous with feedback to all projects, praise what a favorite does well, drop the toxicity — that helps build products strong enough to attract retail and create room for many to win.
These are observations after four years building in crypto, seeing recent revenue meta wars and the FUD around prediction markets right now.
Reading all of this takes a solid attention span. Gg