Metaverse coins will go to zero according to Crypto Cobain
A twitter user asked CT community which cryptocurrencies and crypto projects will disappear in few years. Crypto Cobain, an OG, said all Metaverse and GamiFi cryptocurrencies will go to zero as very soon, all of these projects will realize that they would need a lot of capital to build something substantial.
Cobain added all meme coins and tokens like Doge Coin, Shiba Inu will go to zero and most of them will not even bounce. Same will happen to NFT – they will go to zero and there would be no buyers.
Cryptocurrencies and tokens that require more coins to sustain them, that is, tokens that require constant emissions to survive will collapse as more and more people will come to know that their money is being used as exit liquidity. Most of such projects will be decimated.
Some may try to pivot or use treasury to stay afloat. Regulatory pressure will cause many governance tokens on dinosaur projects to issue burn for treasury claim or completely winding down.
95% of these trendy alt L1s will fail to maintain ecosystems & anything that will struggle with funding will disappear — eg Sushi maybe. And all the coins going full ponzinomics for growth purposes will die, like a bunch of the Avax ecosystem. Most NFT roadmaps will be abandoned.
— cobie (@CryptoCobain) December 10, 2021
War chest treasury projects are not guaranteed success. They will become complacent with their primary focus becoming trying to preserve the treasury or figure out how the team can personally claim some of it. Young, hungry teams with eyes on the prize will be much more effective.