Compiled by Zen, LianGuaiNews
When you observe humanity as a whole, you will find that those who live alone in tribes or societies often die faster. We have known since the early days of human history 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 form a group. This is especially true for venture capital tokens, where people often operate for their own interests. Just like sharks, which usually operate alone and do not socialize, KOL Zoomer Oracle refers to this as a shark mentality.
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The difference between communities like token or NFT cults is that the community does not care about this short-term mentality. Once members transform into “cults,” the social process on social media turns them into true believers. That’s when the “cult” starts to rise. There is a lot of research on cults themselves. Meme-like profound elements can play an important role in them. Just like magic. It is an edge belief system developed or executed by a leader, and those who join the “cult” are seen as being “brainwashed” by the public.
When analyzing this phenomenon in cryptocurrencies, it is not important whether this research is true. What is happening is that an unusual idea is acting together in the same way because it is not accepted in the “mainstream.”
Link Marines is an important example. In 2017, when browsing 4chan (an imageboard), people did not yet see so many memes about Sergey and McDonald. It is clear that the rise of Chainlink started with a cult, not technology (its mainnet was not released until 2019). Another example is Cardano, HEX, and BAYC. The current cryptocurrency industry is not doing well, but their prices and the performance of these tokens/NFTs are better than most “innovative” and “fundamental” technology tokens. Why is this happening?
“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. In times of even more unpredictable cryptocurrencies, they will strengthen their beliefs in their own tokens. This creates an effect where a group of people strongly holds the assets within 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 connections are so strong, there are hardly any “traitors” who can destroy their cult.
Hope is one of the strongest emotions that humans can possess. If you can measure “hope and faith” like cult tokens, I’m sure it will destroy other tokens with “good technology”. This leads to supply depletion. As the cult grows bigger due to high conversion rates, people with a “shark mentality” will realize at some point how big this group is. Smart people often take advantage of this when they realize this phenomenon. Most cryptocurrency worship will reflect a huge bubble. Only a few won’t go bankrupt, but most will.
When identifying these cults, you usually see that most of the group does not criticize short-term prices. They talk about ideas that 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, having a “hold” mentality is the way to go.
How to identify projects that may have a fanatic community
A sign of a “cult-like” project is a coherent theme that permeates all aspects of the project. At the most basic level, coherence is a sign that developers care; and 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 to attract a specialized core audience while maintaining the uniqueness of the project is crucial. That’s why the “CopyLianGuaista” project has underperformed in terms of price. Visual fatigue and an atmosphere that feels like a quick money grab repel 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 examples of this, as they retain their uniqueness but have failed 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 past times, evoke nostalgia, and their rarity in the present brings them new appeal.
$BITCOIN, $DMT, and the broader Milday ecosystem, all utilize Y2K (short for “Year 2 Kilo,” referring to the year 2000, a style that emphasizes a sense of technology and the future. Y2K is a millennium future style) and quirky core aesthetics. These aesthetics are unique because they have not yet been fully utilized but are related to core Web3 participants who grew up in the late 1990s and early 2000s.
In contrast, many venture-backed projects often exhibit a soulless corporate style. The lack of authenticity and personality can hinder the formation of loyal followers, thus limiting the potential for exponential growth in attention.
In conclusion, to find a potential “cult” project, one must look for a coherent and unique theme that resonates with a wide audience. Hopefully, this article will provide you with insights and help you discover your own gem of a project.