Why are products in the crypto space so likely to fail to launch?
Original text by rosie
Compiled by Odaily Planet Daily Golem ( @web3_golem )
Most of the crypto founders I know are now on their third transformation. This group developed NFT platforms in 2021, moved to DeFi yields in 2022, and then to AI agents in 2023/24. Now they’re chasing this quarter’s hottest trend (maybe prediction markets).
Their transformation wasn’t wrong; in fact, in many ways, their strategy was correct. The problem is that this model itself makes it difficult to build any products that can thrive in the long term.
18-month product cycle
New concept emerges → Capital flows in → Everyone transforms → Continues to develop for 6-9 months → New concept disappears → Transformation again.
A crypto cycle used to last 3-4…
