Today our CEO shared the latest financial situation and turns out we only have 11 months of runway if we see the stables (aka cash in hand). And somehow it connects the dots about why so many projects are rebranding.

Let’s start from the beginning. In our treasury, besides the stables we also have the project tokens distributed from the initial offering. I remember it was like 10% of total supply, unlock in 1 year or something. If we count this in the runway, we should get like 20 months runway. It’s still not good enough. But our token price dropped 99%, only a few months ago when NFT is still a lovable thing and our runway can be like 10 years, so we can only wait for the token price to raise even a little bit, to get more runway.

So what if the market is still bad in 11 months, which most likely will be? We need our tokens to be more valuable. But it’s something hard to control even for core teams. In a bear market, the best we shill may only get 1% up, which in a bull market it can easily be 300% (for smaller projects like ours). Our token price has been like a serious erectile dysfunction that no one can cure.

That’s when I suddenly realized why so many projects are rebranding or renaming themselves nowadays.

1. You have a chance to launch another token to extract value from the market without minting more original tokens

2. It’s easier to manipulate the narratives as people tend to pay attention to fresh things, instead of old boring things. e.g. people are talking about GMX, not Uniswap

I can’t believe how many projects are rebranding and changing their name to an even worse ones. Don’t they know the essence of branding is to accumulate branding assets? They are willing to give that up must because the rebranding can really help, what do you think?

https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/19289043477987981042814920477202086135675567400894939442083619855128850333697/

Today our CEO shared the latest financial situation and turns out we only have 11 months of runway if we see the stables (aka cash in hand). And somehow it connects the dots about why so many projects are rebranding.

Let’s start from the beginning. In our treasury, besides the stables we also have the project tokens distributed from the initial offering. I remember it was like 10% of total supply, unlock in 1 year or something. If we count this in the runway, we should get like 20 months runway. It’s still not good enough. But our token price dropped 99%, only a few months ago when NFT is still a lovable thing and our runway can be like 10 years, so we can only wait for the token price to raise even a little bit, to get more runway.

So what if the market is still bad in 11 months, which most likely will be? We need our tokens to be more valuable. But it’s something hard to control even for core teams. In a bear market, the best we shill may only get 1% up, which in a bull market it can easily be 300% (for smaller projects like ours). Our token price has been like a serious erectile dysfunction that no one can cure.

That’s when I suddenly realized why so many projects are rebranding or renaming themselves nowadays.

1. You have a chance to launch another token to extract value from the market without minting more original tokens

2. It’s easier to manipulate the narratives as people tend to pay attention to fresh things, instead of old boring things. e.g. people are talking about GMX, not Uniswap

I can’t believe how many projects are rebranding and changing their name to an even worse ones. Don’t they know the essence of branding is to accumulate branding assets? They are willing to give that up must because the rebranding can really help, what do you think?

https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/19289043477987981042814920477202086135675567400894939442083619855128850333697/