Crypto Projects: Facing the Crisis, 5 Discreet Qualities Forging Tomorrow’s Giants

The dry phase through which crypto markets and NFT as a whole (bear run, bear market, cycle fund, etc., terminology varies, perceived gloom remains) are the cause of an exceptionally rare situation. A situation that we only encounter once every 4 or 5 years. Finally a situation not to be missed.

Today, faced with unprecedented headwinds, all projects that move forward, communicate and deliver, in fact, deserve the right to be interested in them. And we’ll even give a special mention to those starting right now.

In all the diversity of their endeavours, the very real men and women who work behind the scenes display universal and valuable qualities. Let’s focus on 5 of them today.

1. The Power of Conviction

At the moment no one believes in “crypto”, “the market is dead”. Like Bitcoin (luckily it’s not its first dance), everything “goes to 0”, everyone says that right?

The failure of the crypto-monetary initiative seems obvious, at least it is the feeling that dominates and spreads in the columns of the mainstream media.

Already in 2013…

The community becomes thin, scattered, scared, suspicious. How to be surprised? From the massive hacks and collapses of recent months (LUNA, Celsius Network, etc.) topic. .

And despite this, despite what seems to be the most obvious common sense, entrepreneurs and project leaders will stake their finances, their reputation, sometimes even their family life or their health on one belief: tomorrow will be extraordinary and the future will be written in a decentralized manner on Web3 funds.

A project, a team, a community that has tested its resilience and its moral qualities in this kind of context will be unstoppable when market conditions turn favorable again (and they will).

2. Thrift

No more running of the bulls and millions raised by magic. Lambo’s dreams and 6 songs completed in an instant.

Today we have to work on economy and efficiency. Do more and better with less. It is no longer time to waste or waste resources and skills. Everything must be weighed, calculated as accurately as possible. Even the behemoth Coinbase has taken a bow.

But here we are, the tough, dry contexts, where the investor is rare and suspicious, forging character and corporate culture. A context that forces its copy to be constantly revised and that wipes out amateurs and opportunists. Only the builders remain, and they are few. A period likely to give birth to cathedrals, ready to face time and adversity.

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3. Relevance:

The atmosphere is no longer one of gadgets and frills, we are at the very bottom of the pyramid of needs. Less decentralized finance” degenerate and “cryptocurrency meme” projects. Even Elon Musk got tired and preferred to leave his favorite playground.

Now that the potential for huge ROI and easy money has evaporated, everyone is aware that the frenetic obstacle course of 2021 has turned into a bitter marathon. The time is now more favorable for structuring projects. Indeed, only those who will develop added value in real life, real people, will take root.

And now is the perfect time to separate the wheat from the chaff, to distinguish those who are preparing for the future by staying on the pitch while most of them hang their shoes on the hook.

The leaching is such that one might even like to consider being at a point of historical inflection. A shift that, unsurprisingly, could lead to the disappearance of 95% of current crypto and NFT “projects” (an equivalent phenomenon in terms of progress in late 2018 before the big cleanup of ICOs).

Hence the importance of remaining attentive to those who remain.

4. The quest for legal and tax compliance

It has not escaped anyone’s attention that the love of regulators for our industry is now ubiquitous.

Launching a project now means voluntarily putting a legal target on the front line, with full knowledge of the facts.

But even if we reserve the right to debate it at an ideological level and with respect for the original corpus of values ​​carried in particular by Bitcoin, the observation is clear: in 2022 for a crypto business company to integrate a desire for pperfect regulatory compliance would be on the order of commercial suicide.

Project Cruypto and Legal Compliance

This applies in France, but also all over the world. And even industry giants now agree that collaborating with regulators is more tactical and sensible than dissent that harms business and global growth.

The initiatives that manage to get through this stage without too much damage (some won’t recover or will throw in the towel in the face of staggering demands, often higher than those imposed on banks) will be real war machines tomorrow

5. Authenticity and sincerity

There is now less room for cloning clones of projects that have worked well and from which we will try to suck some of the initial success. Breakthroughs are infinitely easier to detect in the current calm than in market storms where everything is interchangeable, similar and seems to be able to go “to the moon”.

Unfortunately, sincerity is always hard to discover. And this is exactly one of the attributes with which dubious players will try to decorate themselves first, in order to convince and entice customers and investors.

However, the period provides direct and simplified access to the teams, even to the CEOs and operational project leaders. It is a privilege that you should take advantage of, nothing better than direct exchanges to form a real opinion.

Finally, we will add that the market is so slow that even crypto scams are in free fall. The bad guys are now turning away from the industry to hunt for more favorable hunting grounds. The atmosphere is suddenly healthier.

But this market breath is temporary. When the machine boots up again, when “business picks up”, those same entrepreneurs will be infinitely less available, busy because they will rush and take advantage of the booms (and newcomers will probably resent them, like the cycles of the crypto market).

Whether you’re on the Journal du Coin or on the community’s social networks, you’re often told to “DYOR” (“Do your own research”). But we agree that the more time passes, the harder this advice is to apply effectively (the industry is getting more complex, as are the techniques and harmful approaches). So what you observe today is full of lessons. Enjoying! Of course, no one is claiming that all current projects have a glorious future. What is certain is that tomorrow’s economic giants are sharpening their skills before our very eyes.

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