#Web3项目生存挑战 Another data platform has collapsed. DappRadar has announced its shutdown, which is truly disheartening. The winter of this industry has arrived earlier and colder than expected. Looking back, DappRadar helped me avoid many pitfalls; their reports always highlighted industry trends. Seven years may not seem long, but it has outlived most projects. Just look at those projects that emerged after 2021; more than half of them have already 'died'.

The reasons behind this shutdown are worth pondering. The model of free users plus limited monetization simply cannot sustain the high operational costs in this market environment. It's not just DappRadar; many projects are facing the same dilemma. Without real income and unresolved compliance issues, it becomes a fatal blow in a bear market.

As someone who has been through it, I want to remind everyone: don't be fooled by short-term hype. Whether you can build a legitimate business and survive this winter is the key to whether the project can survive long-term. The rules of the game have changed; simply telling stories and relying on consensus is no longer enough. You either need to find a real business model or consider being acquired by a larger player. In any case, be prepared for the winter; this cold winter may be longer than we imagine.