The common fate of rebranded crypto projects in 2024
2024 will see major projects like MakerDAO, SingularityNET and http://Fetch.AI, or Solend all rebranding with new tokenomics. Will this change affect the project for good or bad?
Currently, most tokens of crypto projects after rebranding are in a state of sharp decline. For example, the price of the Galxe project's G token after changing its name to Gravity has decreased by more than 40% within 4 months.
10 outstanding projects rebranded in 2024 include:
- MakerDAO - 08/2024
- Galxe - 07/2024
- Solend - 06/2024
- Frontier - 08/2024
- Phantom - 08/2024
- CyberConnect - 05/2024
- SingularityNET, FET, Ocean Protocol - 04/2024
- Camelot - 09/2024
- Virtual - 12/2023
Rebranding helps projects meet the needs of users or investors in an ever-changing market. The dynamics of the crypto market require projects to be flexible, adapt quickly and stay competitive.
But investor concerns about the uncertainty of market trends, combined with changes in strategy and operating model, have contributed to pressure on the value of tokens after the rebrand.
