The crypto industry is going through significant changes in approaches to token launches, requiring more careful analysis and thought-out strategies.
The Golden Era of Early Token Launches
In the past, launching a token seemed like a straightforward process. Projects would write white papers, promising revolutionary technologies, create hype, and raise millions based on speculation. However, many of these projects often failed to find real users, building products that no one needed. For instance, Vaulta (formerly EOS) raised $4.1 billion promising a highly scalable blockchain platform, but demand for their tokens began to decline over time.
The Era of Commercial Utility
Today's token launch landscape has fundamentally changed. Investors are seeking real commercial value and utility rather than mere speculation. Successful projects focus on building products that are used daily, supported by cash flows that justify token valuations. For example, Hyperliquid created a profitable exchange platform before launching its token, ensuring long-term stability.
The Future of Token Launches
Looking forward, projects that can demonstrate their value prior to token launch will have a competitive edge. Examples like Pendle and Pump.fun illustrate how diverse launch strategies can lead to successful outcomes. Importantly, the market rewards builders who provide real value to their tokens rather than relying on empty advertising.
Current trends indicate a maturation of the token market, where only teams that establish trust among investors can expect success in the future.
