Article source: NingNing

Author: NingNing

To summarize my personal investment experience in 2024, it is to copy Dalio's all-weather investment principles to diversify the investment portfolio across every cycle that affects the crypto market (seasonal cycles within the year, 4-year bull-bear cycles, Gaitner technological innovation cycles, and the Merrill Lynch clock cycles), while following Taleb's barbell strategy, focusing on allocating Alpha assets and Beta assets in the Bata track.

Therefore, nowadays, my Alpha assets in the investment portfolio mainly focus on chain abstraction, AI agents, and PayFi projects. The addition of these assets has helped my overall investment portfolio yield outperform the market easily in December. When rebalancing my portfolio to capture Q1 Alpha returns in 2025 at the end of the year, I suddenly realized that my Alpha asset allocation logic was relatively singular, solely revolving around the 'disruptive innovation' mainline logic.

Especially recently, after hearing MegaETH co-founder Bingxiong speak about community vibes in Space, I reflected on it while lying in bed late at night.

In the field of crypto investment, there are actually two investment logics: one is the so-called technological determinism, and the other is community-driven.

Generally speaking, as a non-hypothetical rational person, I usually regard community vibes and cult culture as noise created by big scammers and small fools for mutual benefit, and I don't pay much attention to them.

However, recently I bought a Fat Penguin NFT because I was optimistic about the consumer chain Abstract in the chain abstraction track, which allowed me to experience community vibes for the first time as a stakeholder rather than an observer. This experience made me feel a long-lost sense of social belonging and community acceptance. Coupled with the inspiration from Bingxiong's viewpoints, I began to intentionally break through my original cognitive bubble and try to understand projects with a strong community vibe, such as Monad, Sonic SVM, MegaETH, BeraChain, etc.

Sonic SVM is the first instance of Sonic's Solana L2 Stack architecture HyperGrid, positioned as the Web3 TikTok Chain, targeting millions of Gen Z game consumers on TikTok.

Previously, I wrote a long research post for Sonic (see retweet), and while writing, the '拆分盘' theory of the market leader kept surfacing in my mind. Frankly speaking, at that time, I was not aware of the real value of narratives like consumer chains/community vibes, and from a technical perspective, although Sonic's HyperGrid makes sense, it is far less appealing than new L2 technical primitives like Preconf, Based Rollup, and parallel EVM.

However, after half a year, comparing the operational status and community maturity of Sonic SVM with those L2s that have sexy technical primitives, it becomes evident that there is a significant gap in products and outcomes between building for consumers and abstracting Web3 mass adoption.

Currently, Sonic SVM is building a TikTok App Layer—SonicX, which will airdrop its native token $SONIC to all users who register through TikTok. With account abstraction, TikTok users don’t need to configure a separate Web3 wallet to directly experience on-chain interactions within the app and complete airdrop claims on TikTok.

SonicX has attracted over 2 million users to participate in games, challenges, and live broadcasts within the app through TikTok's premium advertising and creator collaborations, creating a near Web2 seamless experience. Additionally, Sonic SVM plans to integrate more games on http://SonicX.app, gradually building the 'TikTok Chain' ecosystem, where eligible users can receive token rewards during the airdrop.

TikTok has over 1.5 billion global users, and Telegram has 900 million global users, but the lifetime value of TikTok users is far higher than that of Telegram. Recently, ChillGuy's crazy hype has shown us the monetization potential of TikTok users. We seem to not need to worry about the chaos that previously occurred with Telegram mini-programs, which ultimately only exchanged precious liquidity in the crypto market for a bunch of low-value junk users.

In 2023, while working at a small crypto fund, a senior colleague told me that a mainline of value investing is 'go to big market.' After achieving 0-1 innovation, whoever can better occupy a larger market through rapid replication + strengthening growth flywheel will be the ultimate winner. And now, when even Vitalik feels that blockchain infrastructure is oversupplied, whoever can move faster to consumers and occupy more consumer mindshare will be the next era's Web3 Infra.