In recent years, many Web3 startups have been struggling to scale while maintaining a stable user base. Although the initial publicity focused on decentralization, the core challenge remains how to build sustainable long-term business models in competitive fields such as games, entertainment, social media, and DeFi.

Understanding the underlying economics—such as whether the FDV is low or high, what the market cap is, etc.—will become increasingly important.

totally agree! it's all about finding that balance between hype and real value. hope more projects figure it out soon! 🚀