The first change is the transition of traffic pool entry. The entry point for traffic is shifting from Telegram to platforms like TikTok and Line. TikTok itself is a place where communities spontaneously form memes, and it has a high possibility of becoming a new traffic gathering place. Chill guy is the first, and it is speculated that a few more will emerge later.

The second change is the shift in narrative logic. The previous wave was more centered around 'earning through gaming', supported by VC funding, product development, and then achieving growth through sharing and dissemination mechanisms. However, this wave is more inclined towards community-driven meme projects. Small projects without VC backing (quick-acting VCs will also come out to shout) can also spontaneously form and distribute through the community, gaining traction on TikTok, with a higher possibility of emerging.

The previous wave required continuous support from VCs, partly because traffic gradually dwindled in the later stages, and the early user dividend was exhausted. The market needed new funds and resources to maintain attention. At the same time, the number of people shouting for projects was also decreasing, and the market's activity depended on VCs continuously pushing for project exposure and dissemination.

However, when new traffic entry points emerge, such as community platforms like TikTok, the traffic dividend will surge again. This will not only attract new project parties but also bring more promoters and new narrative logic. Meanwhile, new and more prominent VCs will also follow these opportunities and promote this new direction.

Combining the previous wave of TON's ecosystem and the market value of related projects, it can actually be deduced how many projects might emerge after TikTok's traffic rises, how many meme projects will exist, and even their approximate market value levels. But the premise still depends on TikTok's support for crypto projects and the potential legal compliance risks.

Memes might also be part of the marketing budget for many Web2 companies. Just like during the last NFT craze, we saw many brands using NFTs for marketing, this wave of meme projects might also be treated as a marketing tool to bridge the gap between brands and communities.

What remains unchanged in this logic? The unchanging logic is: ultimately, traffic still needs to be directed to exchanges, which require these Web2 users to convert into Web3 users. Therefore, project parties need to use new forms of memes and the community's spontaneous organizational capabilities to drive traffic from TikTok or similar platforms (and collaborate with Web2 enterprise marketing), convert users, and ultimately exchanges will pay for this traffic.