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@ ewok
2025-05-06 12:43:52
The shitcoin space looks a lot like it’s setting up for a dot com type of crash, lots of hype and lots of money thrown into multiple similar things rather than conviction on one, little functional differentiation between L1s, lots of assumptions and speculations on what consumers will want and how much they’ll pay for it (although most people can’t afford RWA, hate NFTs, hate any UX harder than tick-t*ck). Maybe only 1-3 of these things will be able to stick around, even with corporate backing. People forget that corporations blow money on expensive, stupid projects all the time, moreover with shitcoins they always have an early out via dumping if consumers don’t bite, so it’s unlikely they’re picking truly compelling investments right now.