Recently, I have suffered quite a few losses on a popular content creation platform and have made some observations.

The fundamental issues with these types of platforms can be boiled down to two points. First, the platform itself wavers in its stance on public opinion guidance. Second, it heavily relies on news-driven momentum.

The projects gathered above are mostly from teams—somewhat well-known in the Web2 community but facing constant funding setbacks—who switch to Web3 with a different guise to tell new stories. They rely on creating hype and consuming market attention to boost popularity. The problem is, once this logic is set in motion, market reactions are not linear. The project's valuation is quickly absorbed during the initial hype, and the so-called growth potential is already "priced in." It becomes much more difficult to generate a new market rally afterward.