“a lot of people have tried to apply web 2 product models to web3 and that’s failing. They’re focused too much on trying to manage and control tokens as utility like you would manage a web2 product outcome — and what they failed to recognize is that tokens are a new type of enthusiasm market, measuring more the meta sentiment about the product or the content than the underlying utility of it. Tokens are (currently) better at representing sentiments than utility.”

— yat siu, animoca

🥷 at Senpi:  senpi.ai 
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fair observation - but also a bit of an excuse - if there was a real utility, then the token would keep the price at least in the "alive" range

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I agree with you that even tokens that have utility … ie. are really useful for something  meaningful … can flatline, that’s normal - but they don’t go to zero and die 

Attention is only short term game at the start, then only utility can keep your attention (ie. you will come back) 

No amount of “belief” can replace utility - that’s just web3 Degen wishful thinking 😄

but even real utility isn’t always enough to keep a token “alive”... We’ve seen genuinely useful tokens flatline just because the narrative faded or the momentum shifted. Utility helps, but attention, belief, and timing still rule the game in this early meta economy. The Metaverse cycle is a perfect example :)