The reasons why most venture capital firms (VCs) are taking a wait-and-see attitude towards the TON ecosystem instead of investing immediately can be summarized as follows:

Token investment habits are no longer applicable: The traditional token investment model is no longer as effective as it used to be. The current TON ecosystem focuses more on the development of actual users and applications rather than relying solely on token economics.

Project quality and maturity vary: Despite the rapid growth of the TON ecosystem, most projects are still in the early stages, and the quality and sustainability of the projects need to be evaluated. VCs are under pressure to select robust projects to ensure investment returns.

Liquidity constraints: The liquidity of the current VC market has been affected, making VCs more cautious. Market conditions and funding constraints may cause VCs to postpone investment decisions, especially in the current ETF bull market environment.

Relatively insufficient capital in the Asia-Pacific region: The rapid growth and high valuation of the TON ecosystem have made VCs in the Asia-Pacific region feel competitive pressure, but their funding scale may not be enough to support the large-scale development of this ecosystem.

Project diversity and risk: TON ecosystem projects cover multiple fields, including games, DeFi, etc., but most of them are small projects or experimental projects in the early stages. This increases the risk and uncertainty of investment.

Need inflection point projects: VCs want to see projects that can change the industry landscape or have a huge user base, similar to the success stories of Web2 applications. Such inflection point projects have not yet appeared in the TON ecosystem.

Although the TON ecosystem has attracted a lot of attention, VCs need more time and more mature market signals to decide whether to invest. They need to ensure that the project is commercially sustainable and has the ability to attract large-scale users to achieve a foreseeable return on investment. #ASI代币合并计划 #美国首次申领失业救济人数超出预期 #美联储何时降息？ #Mt.Gox将启动偿还计划 #币安合约锦标赛

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