What kind of Web3 projects do users want?

Recently, the phenomenon of VC coins and meme coins in the Web3 field has sparked extensive discussion within the industry, with people contemplating how to find better project development models. This article will review the development history of Web3 projects, analyze the current existing problems, and explore potential future development directions.

1. Review of Web3 Project Development

1.1 2017 ICO boom

2017 was a key year for the explosion of Initial Coin Offerings (ICO) in the blockchain field, with ICO financing exceeding 5 billion USD that year. The main issues exposed during this period include:

• Lack of regulation, frequent scams and Ponzi schemes
• The market bubble is serious, and many projects lack actual value.
• Insufficient investor education makes it difficult to assess project quality.

( 1.2 VC Entry and Credibility Endorsement

To address the chaos of ICOs, venture capital ) VC ### has begun to enter the blockchain field on a large scale. The main roles of VC include:

• Grassroots financing as an alternative to ICOs, reducing fraud risk
• Standardize project fund management to prevent the team from cashing out and running away.
• Provide resources and strategic guidance for the project
• Promote the compliant development of the industry

( 1.3 VC Coin Issues

However, the VC coin model has also gradually exposed some issues:

• There is a conflict of interest between the VC and the project parties.
• Unable to resolve the issues related to the subsequent development of the project.
• Some projects collude with VCs to deceive retail investors.

![The user neither wants VC coins nor meme coins, so what does the user want?])https://img-cdn.gateio.im/webp-social/moments-d5584807f5973071d6ba44e3c580ac81.webp###

( 1.4 Inscriptions and Fairlaunch

In 2023, the blockchain field saw the emergence of inscription technology and the Fair Launch model. This reflects users' pursuit of decentralization and fairness, but there are also some issues:

• Pseudo-fairness, large holders may disguise themselves as multiple small holders to participate
• The inscription has issues with liquidity and application scenarios.
• Value is easily lost to miners

) 1.5 Pumpfun and memecoin

In 2024, the Solana-based Pump.fun platform has spawned a large number of memecoins. The main issues with this model include:

• Systemic fraud, trust collapse
• False advertising is rampant
• Distort the market ecology, squeezing the development space for normal projects

![The user neither wants VC coins nor meme coins, so what does the user want?]###https://img-cdn.gateio.im/webp-social/moments-b123162116d9457a863c58c6e20b09f3.webp###

2. What kind of projects do users need?

By reviewing the development history of Web3 projects, we can summarize the main needs of users for the projects:

( 2.1 Continuous Construction Motivation

The project needs to have the motivation for long-term development, rather than stagnating after early financing. This requires:

• Reasonable token distribution and unlocking mechanism
• Continuous value injection and capture
• Effective project management and supervision mechanisms

![If the user neither wants VC coins nor meme coins, then what does the user want?])https://img-cdn.gateio.im/webp-social/moments-0ffe990691af605ffb564ad914d2cf3c.webp###

( 2.2 Fairness and Decentralization

Users hope that the project can:

• Achieve true fair distribution
• Reduce the risk of manipulation by large holders
• Maintain decentralized characteristics

![The user wants neither VC coins nor meme coins, so what does the user want?])https://img-cdn.gateio.im/webp-social/moments-f76022914c369f9dfdd8d8d50ffd5052.webp###

( 2.3 Value Injection and Application Scenarios

Successful projects should:

• There is a continuous injection of external value
• Provide practical application scenarios for tokens
• Form a positive economic model

![The user neither wants VC coins nor meme coins, so what does the user want?])https://img-cdn.gateio.im/webp-social/moments-19861252ec617cdccfe58c77155d3d90.webp###

( 2.4 Transparency and Community Participation

User Expectations:

• Project operation and financial information is transparent and public
• The community can participate in project governance
• Establish an effective stakeholder incentive mechanism

![The user neither wants VC coins nor meme coins, so what does the user want?])https://img-cdn.gateio.im/webp-social/moments-989fa85ba3441a63e6ba34d7f3d206c7.webp###

3. Future Development Direction

Based on a summary of history and an analysis of user needs, the possible development directions for future Web3 projects include:

( 3.1 Improved Governance Mechanism

• Combine DAO and foundation models for project management
• Introduce third-party supervisory institutions
• Design flexible token unlocking and usage rules

![The user neither wants VC coins nor meme coins, so what does the user want?])https://img-cdn.gateio.im/webp-social/moments-f4e8f48e1e7add5a808242fbb493cbf4.webp###

( 3.2 Continuous Value Capture

• Develop practical application scenarios and provide real demands
• Design a reasonable economic model to achieve a value closed loop.
• Explore business models integrating with traditional industries

) 3.3 Technological Innovation

• Improve public chain performance and scalability
• Develop cross-chain technology to enhance interoperability
• Explore cutting-edge technologies such as privacy protection

![The user neither wants VC coins nor meme coins, so what does the user want?]###https://img-cdn.gateio.im/webp-social/moments-e01a7e63c16261a255e9eace688e24aa.webp###

( 3.4 Compliance and Institutionalization

• Actively adapt to regulatory requirements
• Establish an industry self-regulatory mechanism
• Promote the improvement of relevant laws and regulations

) 3.5 User Experience Optimization

• Simplify product usage process
• Improve security and stability
• Strengthen user education and community building

![The user neither wants VC coins nor meme coins, so what does the user want?]###https://img-cdn.gateio.im/webp-social/moments-2ad6cc75e318612f17214c173982c8b2.webp###

4. Conclusion

The development history of Web3 projects is full of ups and downs, with each stage reflecting changes in user demands and industry progress. Future successful projects need to achieve a balance in fairness, sustainability, and value creation, while continuously innovating to meet new challenges. Only projects that truly address user pain points and create long-term value can stand out in this rapidly evolving field.