How Narrative Impacts Blockchain
Human beings have always understood the world through storytelling, and this kind of "narrative-driven" thinking seems to be everywhere in our lives.
In the field of blockchain and cryptocurrency, the same phenomenon is also common - when new technologies appear, people often rely on narratives to explain them, and use this to shape investors' perspective, trying to trigger discussions and trends in the community.
However, these narratives change rapidly over time, and the “hot trend” of a certain period is often quickly replaced by another new trend. For example, zero-knowledge proofs, staking, and parallel execution were once hot technology trends in the market, but were quickly overshadowed by newer hot spots.
Why chasing trends is doomed to failure?
In the cryptocurrency and technology fields, following trends is a common phenomenon, and many startups often hope to take advantage of current market hot spots to attract funds and attention. Even large companies like Facebook rebranded in 2021 and changed their names to "Meta" in order to catch up with the trend of the Metaverse.
However, no matter how big the company is, this trend-following approach can easily cause companies to lose themselves and drift with the crowd.
Shumo Chu, co-founder of Nebra Labs, pointed out that in the Web3 field, how to create truths that others do not yet understand or believe is even more important. Those companies that can truly succeed are not chasing hot spots, but can create new ones of their own. Narrative, subvert the existing market structure.
Success stories of blockchain pioneers
From Satoshi Nakamoto, the creator of Bitcoin ($BTC), to Vitalik Buterin, the founder of Ethereum ($ETH), these successful cases have not chosen to follow any current trends, but have created one through their own unique ideas. A whole new narrative.
Take the most classic Bitcoin as an example. Satoshi Nakamoto’s idea of Bitcoin challenged the traditional financial system from the beginning and became a pioneer of decentralized digital currency. Vitalik Buterin made Ethereum a It has laid the foundation for decentralized applications (DApp) and paved the way for the future prosperity of DeFi.
bubble on social media
Shumo Chu pointed out that social media, especially technological development.
This phenomenon has prompted some projects to deliberately design projects that cater to the market and social media in order to gain quick exposure and short-term success. These projects often lack actual innovation and are intended to increase sales in the short term, ultimately damaging the healthy development of the entire market. Such a vicious cycle not only affects technological innovation, but also gives the entire industry a bad reputation.
Success lies in creating a unique story
Shumo Chu believes that founders should focus on their own vision and insist on realizing valuable ideas no matter how the narrative in the market changes: "Only projects that dare to resist market trends and move forward based on their own long-term goals will ultimately succeed. A greater chance of standing out.”
Social media may distort these narratives and make people more focused on short-term success and fame, but true innovators should stay calm, stick to their own path, and believe in the "secret" that is not recognized by the market. Ultimately, success will belong to those who dare to create stories, not to those who follow the crowd.
