This is a contributing content by Ariel AsafovDirector of Incubation to Chaingpt Labs.
In 2021, crypto was at full condition. Token values are growing, seeds are closed in the days, and at times, a compelling narrative is more than the need for a working product. The reward of the speed market, speculation, and big ideas sometimes at the expense of long-term value.
Now, it’s 2025. The speed of change has not slowed down, but the climate has changed. The capital is more selective, the users are more careful, and the noise is silent. And yet, many early stages of the crypto are still operating like 2021, which raises large rotations in advance, launching the pre-product of the tokens, and thinking that the community hype will fill the gaps. This is not the ambition the problem; Playbook requires an update.
Why does the old playbook no longer work
There is a pattern of fundraising that refuses to die: build a deck, create a compelling narrative, raise $ 5-10m, launch a token, and hope for network effects. This makes sense during the bull’s rotation, if momentum can bring a project forward. But those conditions moved.
Today, traction is important than potential. Investors ask more challenging questions. Communities are in doubt. And significant increases without significant use often send the wrong signal: that the hype exceeds the development.
Early funding can be a double sword. Scaling and operation teams before a fit-market fit have been proven are a risk. That can lead to inflammatory rates of combustion and pressure to grow prematurely, often resulting in projects that struggle to deliver the expectations.
The form does not replace the operation
A common trap is to treat tokenomics as a stand-in for strategy. While tokens can play a decisive role in the alignment of incentives and fuel ecosystems, they are not replacement for one person’s wish.
If your go-to-market is built around a token, not a solution, it may be time to revisit your roadmap. In today’s market, users and investors are looking for real utility, not only well designed release charts. The projects that get traction are where the token supports an important experience, not where it tries to make one. A good product can succeed without a token. But a token without a product? That’s a more difficult story to sell.
Became smarter in capital
Increasing less and being more consciously is not a compulsion; This is a strategic advantage. Smaller rotation can drive Sharper’s focus, more accidental rent, and faster repeat. Lean teams often move faster, adapt better, and reach the market fit without losing control in their direction.
In Chaingpt LabsWe work closely with the founders to re -imagine their funding strategy. Instead of default to large, pre-product increases, we help startups focused on the approach to go-to-market and smart automation. That may mean using AI agents to reduce the devil’s overhead, mimic user behavior before shipping features, or testing token models in safe environments before they survive.
We encourage the founders to stay curious, not overcommit too early, and see the capital as one of the many tools, not the goal itself. Implementing today is the real difference -not the size of the increase.
Rethink what the success looks
Web3 space is not in denial; It is evolution, and the culture of fundraising needs to change with it. That does not mean playing small or conservative thinking. This means aligning capital with stages, goals, and outcomes so that teams can grow at the right speed and foundation.
At the chaingpt labs, we are optimistic about what’s next. We believe that the standout projects of this cycle are not the claim of titles, but the silent ones who build, intentionally, and in -depth clarity in their service and why.
The market may not be as strong as before, but maybe that’s the chance. Less noise means more space to focus, experiment with, and develop something that lasts.
(May -Set is the Director of Incubation in Chaingpt Labs)
Also Read: Cantor, Softbank, and Tether Unite for $ 3.6B Bitcoin Venture
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