According to TechFlow, Qiao Wang, founder of Web3 accelerator Alliance, pointed out in a tweet that the Pump and Fantasy teams seemed to have seized the opportunity quickly on the surface, but in fact, they had spent many years building and using crypto products and had become experts in their respective fields.

His advice is that crypto startups need to survive long enough to get lucky, and to do that they need to avoid expanding their teams too early, avoid raising too much money before achieving product-market fit, raise money from angel investors before VCs are ready to invest, and don’t give up on crypto in a bear market.