Gameplay of the Virtual Launch Platform Genesis Launces

In the comment area, readers often ask me which projects I am optimistic about in addition to Virtual in the AI + Crypto track.

I haven't been able to reply. At first, I was thinking about the risks of other projects, but now after this period of time, I feel more and more that even from the perspective of the risks of the Virtual project, I think that there are no projects worth sharing in the current track.

Because other projects are riskier than Virtual, but I don't see their value and potential as greater.

I've now swapped out most of my AI proxy projects with Virtual, including the once popular GOAT, ai16z, SWARMS, and others on Solana.

Since the AI + Crypto track entered the bear market this year, the Virtual project has been insisting on construction and has not stopped in the bear market.

Its recent launch of Genesis Launches is another new idea after the ACP protocol.

Genesis Launches is essentially an ICO launch platform, which is not an original innovation, but it has improved greatly from the ICO that emerged in 2017 in two ways:

The first is to set the threshold for participation with a point system.

In a traditional ICO, anyone can participate in project financing, and there is no barrier to entry. Under that rule, large investors can monopolize the participation in project financing solely on the basis of financial strength.

Virtual adds a threshold to this rule and uses a points system. The earning of points is related to a variety of factors. All of these factors have one important thing in common: they value how long participants hold the token.

The project stipulates that some tokens are held for more points, the longer they are held. These holdings include not only projects that have already gone live and have been tested by the market, but also new project tokens that have been successfully listed on Genesis Launches.

On the one hand, this practice curbs the advantage of large investors to a certain extent, and on the other hand, encourages users to hold as much as possible the tokens they get in hand, so as to prevent speculators from smashing the market without scruples.

Second, the project has been supervised to a certain extent.

Regulation of projects, especially suspicious ones, has been sorely lacking in any ICO model in the past. Virtual made up for this shortcoming in this event by compensating some of the participants who had unfortunately participated in some of the losses suffered by the runaway project.

Although this approach is still in the experimental stage, and in my opinion, it will only work in the short term, and it is difficult to systematically monitor the project in the long term. However, it is also a very bold attempt for the project party to take this step, which is worth paying attention to.

In terms of the projects launched by the platform during this period, I am very impressed by two points:

- In the past, projects that had no practical use and relied solely on emotional value to attract users almost all failed.

- There are many projects that the upline hopes to finance, but most of the projects fail to be funded.

These two points indicate that the participants have finally begun to return to normal, and have begun to return to the examination and evaluation of the value of the project. The market has also begun to return to the normal state of financing and has begun to gradually move towards rationality.

However, even if the project is successfully funded, in my opinion, there is no project with special potential in the short term, and the vision they present and describe is basically the same story that has been told. It is difficult to see their future development and judge their future value in a short period of time.

In my opinion, the greatest value of Virtual is to guide the market step by step in a rational direction. Although the possibility of an outbreak is not visible in the short term, the signs it shows are clearly very different from pump.fun.

In Duan's words, Virtual's approach now is to "do the right thing."

Its bigger challenge in the future is to "get things right", which depends on --- project party to continue to move forward and innovate step by step.