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Interested: The author holds a Near position
Original title: Near Protocol of the last public chain
The era of public chain contention has passed. Although I have witnessed the prosperity of the public chain, I did not participate in it. It is a pity to be a bystander.
Although everyone is now ridiculing the new public chain and the Ethereum killer in every possible way, this is not wrong, because most public chains are out of play. Ethereum’s DeFi theme puts an end to the last illusion of public chains. But we have to admit the fact that in the past three years, the investment returns brought by investing in public chains and Ethereum killers have been extremely generous.
Whether it is the better Ethereum at the beginning: LISK/WAVES/NEO, or the later professional high-performance public chain: ATOM/DOT/SOL/DFN. As long as you are willing to invest money to support the dreams of these teams, you will eventually get a satisfactory return on investment. The return on investment in the early stage of the project is calculated at hundreds of times and thousands of times, and even for the behemoth like DOT, private equity investors have dozens of times of return in the later stage. Even the recent SOL and NEAR, private equity investors have 5-10 times returns. These are the dividends of the times.
The thought that I missed so many opportunities to make a fortune, I really feel sorry for myself.
It was a failure.
Recently, I have been thinking about a question. Why have I been so obsessed with the public chain in the past two years? I have been persistently looking for the “next Ethereum”. Maybe I have never invested in a public chain project with a high return on investment. The so-called unavailable is always in turmoil, and the public chain is for me.
From this perspective, maybe I should really thank Near Protocol. Thanks to this last-generation public chain, it gave me a sense of participation in investing in the public chain and the expectation of a satisfactory return on investment.
In 19 years, I heard D1 Ventures talk about Near. They regretted that they didn’t vote for Near in the angel round. I forgot whether it was the angel round or the seed round. Anyway, it was the previous round of financing in 19 years. I didn’t quite understand why they regretted not voting for Near so much, so optimistic about Near.
Behind is the IOSG side. When I was having dinner with Jocy, the founder of IOSG, he gave me Amway Near. It’s strange to think about it now. At the beginning, I thought that Near was an ordinary project, and it was also a crowded track of the public chain. Everyone knew that the door of the public chain was welded to death, and Near was the last public chain. Chain up.
But I think about it now, mainly because I was too poor at the time, and any investment in the primary market was extremely luxurious for me. Looking back, investing in high-quality projects in the primary market in the bear market, such as Near and Polkadot, is a very profitable investment.
It can be considered fate. In the last Coinlist round of Near in 2020, I still participated in investing in some Near, which opened the way of Near immersive investment.
The issue of whether the new public chain is an enemy or a friend of Ethereum has been discussed recently. I remain neutral on this, none of this is critical. Whether you are a friend or enemy of Ethereum, just do your own thing. The most important thing is to continuously iterate the product and obtain the actual user adoption rate. This is like a student who has just left the society. Because of the family relationship and background, he joined a good company and got a good position at the beginning, but his own ability cannot keep up. This is useless. If you belong to someone else, you can’t hold it.
Of course, it is the best to become a friend of Ethereum, and the relationship between Near and the Ethereum Foundation is the closest at present. This is also obvious to all, and there is no need to question it. Taking a step back, as long as ETH2.0 is not fully released, the new public chain has room for operation and can do things.
Near’s Chinese community did a good job. To my surprise, the Chinese team’s efforts in the Chinese community far exceeded my expectations. I can see their efforts, and I am willing to grow together with the team and be immersed. Investment.
Speaking of immersive investment, there are many topics to talk about here. I think an organization with very positive values should help him since it has invested in the project. Everyone knows that the Chinese market has always accounted for a very large proportion of the crypto market. Due to cultural and communication reasons, there is a gap between foreign projects entering the Chinese market, so at this time, institutions need to stand up and help project parties make suggestions.
D1 and IOSG have made a very good immersive investment in the Near project. IOSG helped Near make four offline tours in China in 19 years. The founder of D1 will also regularly meet and communicate with Near’s Yilong, including us In it, immersive investment is also made from the perspective of the community, sharing the dynamic progress of the project with the community, and outputting the content.
This is one of the reasons I am optimistic about Near. Many institutions and communities have made immersive investments in Near, which has played a significant role in the long-term development of the Near project.
There are many small apps on Near, and each app has an actual user adoption rate. I am very optimistic and support these small applications. Many things have an accumulation process from quantitative change to qualitative change. The application on the public chain does not need to be as ambitious at the beginning, you can start from the subtleties. For example, the painting application some time ago is a good example.
Ethereum was also a lot of fun and interesting small applications at the beginning. For example, Uniswap was a joke at the beginning, and who would have expected it to eventually become a multi-billion-dollar project. Compared to some other public chains, there may be many ecological projects, but there are still some lack of substantive applications, and there may not even be such a painting application on Near.
I think this kind of small application is booming on Near. The adoption of practical applications is the foundation of the public chain. I hope that Near will continue to maintain it and make more fun and interesting small applications.
Now we have entered the era where data, products, and applications are king. For example, if you are a DeFi project, please show your products, show your TVL lock-up data, and show your DEX trading volume. Bragging is useless, Amber has already passed the bragging stage. In the last era, the project is more powerful than the one who boasted. In this era, whose product is iterated faster, whose users and adoption rate are higher, and whose data is better.
So I still suggest that you pay attention to the small apps on Near.
Finally, let’s be honest. One of the most important reasons for being optimistic about Near is valuation. The current valuation of Near is USD 200 million, and the overall valuation is USD 1 billion. And Polkadot is valued at $5 billion. On the premise that Polkadot is stable in its current position, Near has a good chance to tie Polkadot’s valuation.