Launching a token can be an easy path to riches for founders and the venture capitalists who back them. All too often, however, the tokens soon crash, and many of the projects later die.
The conversation – unusual because typically nobody wants to talk about this in public – took place at the BASS Denver conference sponsored by Stanford Blockchain Accelerator.
Helena Zhang, co-founder of ICME, says there are still "plenty of public companies searching for product market fit," ostensibly making the point that, maybe these early-stage token launches aren't really all that unusual in the broader scheme of markets. She added that a token sale can be good for marketing.
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Ange Gallego, co-founder of Dev.fun, had a very different perspective. "We fucked up," he says, referring to the crypto industry's massive issuance of tokens that often have little or no value.
Evgeny Medvedev, commander of operations at Legion, said he considered his project's token launch successful, but acknowledged it had quickly fallen back to the ICO price.
Crowded event where you barely know anyone = FOMO.