A lot of people have no clue how crypto projects works outside of Hive. They assume that everything is always smooth and easy. Yes, we have had success with projects like Uniswap, Arbitrum, and Hyperliquid, among others, but 85% of crypto projects have failed spectacularly and struggled to retain their users.
In 2023, Islamic coins raised one billion dollars from top investors, and they are still a nonfunctioning project today. You must have thought, "Wow, one billion dollars, surely, no way they are dead," but newsflash, they are; there are many like them, with 200 million to 400 million raised from TOP VC and now it is over.
Magic Newton recently raised 80 million dollars, and airdopped content creators on Twitter millions of dollars, but as of today, no one plays their ethereal game anymore. These top VC funds only attract attention. Hyperliquid has never raised funds, but it is one of, if not the largest, DEXs with massive daily volumes.
Hype is just a part of it
People usually believe that money and hype are everything.
I was reading a post where someone was listing the thing hive needs to be a killer place, maybe a Facebook killer or something,and it's funny because they've practically not been active here enough,and certainly don't know the Blockchain enough,and it's funny because people have this idea that you need to be mainstream to be successful .
I don't completely agree, all you need to stay afloat is a working product, usability and some decent level of entry, you don't need to be a "BTC or Ethereum".
As massive as BTC is, it is difficult to build a product on it in the same way that Ethereum is, but because it is a basic store of value, this is largely ignored because it has become institutionalized over time, has a limited supply, and appears to be the new digital gold.
Hive is a functional infra on its own, and it has survived where other top VC-backed projects have failed. This does not mean it is perfect, but not every idea of "it can be a Facebook" killer deserves to be sentimentally purchased.
The chain has been around for a long time; if you believe that longevity is not a quality that any web3 outlet should value, you must be kidding.
When I see posts like "let us build an influencer's hub, that brings hype", I just shake my head because people sometimes associate hype with value. Fine, hype does a lot, and I understand that, in fact, hype brings new eyes, but 80% of web3 tech is struggling; the ones with the longest longevity will survive the most.
This is not a bull post; I simply believe that some people have no idea how things should be, and that is fine. Critically thinking, I do not believe Hive should fund some of the projects it is currently funding.
I will not name names, but whatever comes to mind first is the correct answer. This is because some of these project funding does nothing for the chain; unfortunately, the largest stakeholders get to decide what gets funded, which is why we are wondering if DPOS is the better consensus mechanism for the Blockchain; maybe, maybe not.
DPOS
Perhaps we need new faces in the top 20, but DPOS gets to make that decision again. However, it is not all doom and gloom, which brings me to my point: will things improve? I am not sure; I just think that sometimes people fail to give Hive the credit it deserves.
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
