Compiled by: Zen, LianGuaiNews
When you observe the entire human race from a macro perspective, you will find that those who live alone in tribes or societies often die faster. We have known since the early history of humanity that everyone needs to rely on a strong group to survive. Usually, the most united and loyal people win the support of other groups.
“Holding” mentality is the way to go
In TG or Discord, most people operate for themselves and cannot unite to form a group. This is especially true for venture capital tokens, where these people operate for their own interests in most cases. Just like sharks usually act alone and do not form groups, KOL Zoomer Oracle refers to this as the shark mentality.
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The difference between communities like cult-like frenzies around tokens or NFTs and others is that the community does not care about this short-term mentality. Once members transform into a “cult,” the social process in social media transforms them into true believers. At that moment, the “cult” begins to rise. There is a lot of research on cults themselves. Deep and mysterious elements like memes can play an important role in them. Just like magic. It is an edge belief system developed or executed by a leader, and in the eyes of the public, people who join the “cult” have been “brainwashed.”
When you analyze this phenomenon that exists in cryptocurrencies, whether this research is true is not important. What happens is that there is an unusual idea that acts together in the same way because it is not accepted in the “mainstream.”
Link Marines are an important example. In 2017, when browsing 4chan (a comprehensive discussion forum), people did not see so many memes about Sergey and McDonald. It is clear that the rise of Chainlink started as a cult, not as a technology (its mainnet was not released until 2019). Another example is Cardano, HEX, and Bored Ape Yacht Club (BAYC). Currently, the crypto industry is not thriving, but their prices and the performance of these tokens/NFTs are better than most “innovative” and “basic” technology tokens. Why is that?
“Cults” are the most powerful groups in the cryptocurrency field. This means that they will not sell their native assets because they believe they belong to this group. As the cryptocurrency becomes more unpredictable, they will strengthen their belief in their tokens. This produces an effect where a group of people strongly hold the assets belonging to the group. No one wants to get rid of it. This is their safe zone where they can post and make friends. Because the group connection is so strong, there are hardly any “traitors” who can destroy their cult.
Hope is one of the strongest emotions that humans can have. If you can measure “hope and belief” like cult tokens, I am sure it will destroy other tokens with “good technology.” This leads to supply depletion. As the cult grows larger due to high conversion rates, people with “shark mentality” will realize at some point how big this group is. Smart people often take advantage of this phenomenon when they become aware of it. Most cryptocurrency cults will reflect massive bubbles. Only a few will not go bankrupt, but most will.
When identifying these cults, you will often see that the group does not generally criticize short-term prices. They talk about ideas to enhance the cult and make it better, and often have a strong visionary core. Of course, price is important to them, but in the long run, a “hold” mentality is the way to go.
How to identify projects that may have a fanatic community
A hallmark of “cult-like” projects is a coherent theme that permeates every aspect of the project. At the most basic level, coherence is a sign that developers care about; at a more macro level, it allows participants to better immerse themselves in the “role” of the project.
However, it should be noted that as the project attracts a wider mainstream audience, the value of the theme may diminish over time. Therefore, starting with a niche theme, attracting a specialized core audience, while maintaining the uniqueness of the project is crucial. This is why the “CopyLianGuaista” project has performed poorly in terms of price. Visual fatigue and an atmosphere of insincerity feel like a quick cash grab, alienating potential enthusiasts.
A project should have a coherent and unique theme, but it must also resonate with a wider audience in the end. Many art NFTs are good counterexamples, as they retain their uniqueness but fail to expand their influence due to strong author influence.
Assessing coherence and uniqueness is simple, but evaluating relevance is more tricky. Themes that evoke emotions, especially nostalgia, are often relevant. Past aesthetic themes provide a unique and relevant combination. They reflect the past, evoke nostalgia, and bring new appeal in today’s rarity.
$BITCOIN, $DMT, and the broader Milday ecosystem all leverage Y2K (“Year 2 Kilo” abbreviation, referring to the year 2000, a style that emphasizes a sense of technology and futurism. Y2K is a millennial future style) and quirky core aesthetics. These aesthetics are unique because they have not been fully exploited yet, but are associated with core Web3 participants who grew up in the late 90s and early 2000s.
In contrast, many venture-supported projects often exhibit a soulless corporate style. Lack of authenticity and personality can hinder the formation of loyal followers, thus limiting the potential for exponential attention growth.
In conclusion, to find a potential “cult” project, look for a coherent and unique theme that resonates with a wide audience. I hope this article provides you with insights to help you discover your own gem of a project.