Original text: ehwangah
Compiled by: Yuliya, PANews
Let’s state a reality: in the crypto space, market cap is the core metric for measuring success. Technical innovation, core value capture, product-market fit (PMF), etc., are all important, but the real sign that you have delivered multiple returns to your team, investors, and holders is whether your market cap can soar. So how do you achieve that?
Launch immediately, building while publicly showcasing > Don't get too caught up in launch details or delay repeatedly.
Don't be too nervous; the launch only accounts for 10%-20% of your long-term success. Don't make it complicated. Here's a brief summary:
Early launch hype was excessive but lacked substance: skyrocketing and plummeting
Launch discreetly, but lack substance: direct failure
Early launch hype was excessive, but with substantial support: soaring to the peak
Launch discreetly, with substantial support: steady growth
Do you see the pattern? The key lies in creating substantial content (we will discuss how to create substantial content in detail later; in short, it's about the team, product, and community). A simple test is: are your friends willing to buy, hold, and believe in your project? If they don't trust it, others won't either.
Why is launching early the best choice?
1. Validate your idea before investing over $100,000 in development costs
Instead of spending 3 months or more and tens of thousands of dollars refining the product, launching early can help you validate your concept. Similar to lean startup practices, first propose an idea, spark interest from target users, and iterate after validation. You might think this approach is unconventional, but it can help you cultivate the first 1,000 true believers, who will become catalysts for driving project growth, whether in networking, resources, or pricing.
The key is: validate your idea first; don't wait until you've expended substantial time and resources to do so.
2. Establish a leading position and leverage the Lindy effect
Do you know why the top 50 projects can still maintain their leading positions through cycle changes? It's not just quality, but also the advantages of time and position, namely the Lindy effect. Launching early strengthens your holder community base, gradually weeding out non-committed users and attracting loyal supporters. Time is your ally.
If you wait too long, mediocre projects may occupy your position. Once others seize your narrative, funding, or attention, reclaiming it will be very difficult. In the PVP competition on X (Twitter), it is hard to get people who have already 'entered the market' to switch to other projects.
In the current AI agent craze, being the first to launch is not just a bonus, but a decisive factor. Everyone is rushing to launch AI agents; joining the race early gives you an advantage in the ecosystem, while others can only scramble to catch up.
Whether we like it or not, launching projects in the crypto market involves an 'attention game.' Product-driven growth is important, but that comes later. Attracting attention early and building a community is crucial, and tokens are the best tools for distribution and binding interests.
Choosing projects that launch on the Virtuals ecosystem typically offers a competitive advantage. The overall culture of this ecosystem is marked by high quality, and in the long run, capital tends to flow towards high-quality projects.
3. Immediately form community and distribution effects
Launching a project will spark discussions, and people on X (Twitter) will start talking about your project, summarizing '3 reasons to buy/hold.' This discussion is invaluable—not just because of price increases, but because it solidifies the community. This group can help you iterate on the product, test new features, and even contribute development resources. On the first day of launch, you will have a loyal user base.
4. You can get ahead of a large number of VC-supported token projects by 2025
Many projects postponed their launches during the bear market of 2024, thinking that low liquidity and risk aversion leading to low market sentiment were not suitable for launching. By 2025, you will see more projects launching, following a typical trajectory:
Raise large amounts of funds from VCs;
Refine the product, then launch marketing activities (points, tasks, KOL collaborations, etc.);
Followed by a token generation event (TGE).
What is your advantage? Fair launch, decentralized spirit, and natural community growth. Market dynamics have shifted, now more favorable for you.
What if we build the product first?
A solid product can indeed bring competitive advantages, but that is not the only determining factor. As an early project, the crypto market itself is also in its early stages, and whether the team's background can continuously create value is crucial. To be honest, if the crypto market were entirely utility and product-driven, then 'air coins' would not attract a large buying interest.
It's not about advocating for launching 'air projects,' but rather that launching early can win you competitive advantages in community building and narrative shaping.
Product launches are never perfect; there will always be bugs, server overloads, concurrency issues, and more. Don't overemphasize these problems; as updates roll out, the product will ultimately prove itself.
Public building, document the journey
People enjoy seeing how a team creates value from scratch. Stories matter; people are more willing to support relatable founders rather than cold, impersonal brands. Public building makes projects more approachable and humanized.
No need for a perfect brand image on day one; start early, beginning with initial drafts. Grow through public building. It is recommended to study the success stories of the top 20 projects in the Virtuals ecosystem.
Frequently Asked Questions
About snipers: they exist on all chains, the key is to maintain user stickiness and ecosystem strength
Tokenomics design and launch structure: experience from over 100 launch cases can provide suggestions
G.A.M.E framework: provides open-source SDK to support customization needs
Business model: can integrate existing business models
Integration of existing tokens: corresponding solutions are available
Trust issues with no-product launches: analogous to Kickstarter projects, initial feedback is the most valuable