The level of decentralization in a project impacts its investment value by influencing security, transparency, and governance. Highly decentralized projects are less prone to manipulation or control by a central authority, which increases trust among investors. Greater decentralization also ensures more inclusive governance, where token holders can participate in decision-making, adding value. However, if decentralization is too extreme, it might hinder development and scalability due to lack of clear leadership. Investors tend to favor projects with a balanced approach, where decentralization ensures security and transparency while maintaining efficient governance and growth potential.