It's quite sad to see Fantasy Top shut down, maybe it's just drawing the terminator for another Crypto race The core idea of Founder is quite similar to what I wrote about Web3 Game vs. World of Warcraft at the beginning of the year. Before, everyone felt that something was wrong, but now more people are willing to speak up about it. Let me translate it directly “ The core reason for our failure is only one: we attempted to place cryptocurrency on a model that was not originally built for cryptocurrency. The collectible card game is indeed effective. Wanzhi Pai, Pok é mon, and Game King are the world's largest and enduring entertainment brands. People love them, collect them, exchange them, and play with them for decades. But all cryptocurrency collectible card games have failed. TopShot、SoRare， Now it's our turn. This is not a coincidence, but a structural issue. The greatest collectible card game in history is first and foremost the game itself, followed by its peripheral products. People buy Wanzhi cards to play Wanzhi cards. The economic value of cards depends on the quality of gameplay and the depth of the community, rather than the entry threshold. When you develop collectible card games in the cryptocurrency field, the order is completely reversed. Cards are primarily for making money, followed by anything else. What you attract is not people who truly love games, but people who want to make money by playing cards. These two are not the same group of people. Once the economy is financialized from the beginning, every decision will become even more difficult. You cannot freely iterate the gameplay as any changes will affect the card price. You cannot try new game modes because they will redistribute value. You are no longer developing games, but starting to manage the economy. This is a trap, and we plunged straight into it. We saw the trap clearly and tried to escape. Arena eliminates ownership friction. Clout makes it easier for users to enter the game. F2P allows players to enter the game world for free. The predicted market shift retains social gaming elements, but completely divests the NFT layer. Every step is aimed at returning to the concept of 'game first'. But these attempts have not achieved sufficient results. The Blast phase makes the situation even more difficult. At that time, Blast's airdrop popularity reached its peak, and a large number of users flocked to Fantasy, hoping to get a share of the pie. It is said that the airdrop amount reached hundreds of millions of dollars. We earned around 70% of the total revenue in the first month of our launch on the main website. Such a high start made everything feel like it was declining afterwards. We were not building a steadily growing product at that time, but rather responding to price drops. Financialization has changed the composition of participants This pattern is repeated everywhere in the cryptocurrency field. Social tokens were supposed to completely change the relationship between creators and fans, but every attempt so far has ended in failure. The reason is simple: true fans are not primarily focused on profit, they come for artists, teams, and communities. Establishing a price relationship between fans and the things they love will completely change their relationship with each other. The most active 'holders' are no longer fans, but have become traders. This is not a minor issue, but a decisive one. Cryptocurrencies perform well in terms of incentive mechanisms and coordinating participants, which is their core advantage. But we impose things that already exist in fields such as Web 2.0, gaming, social and community, and assume that they will become better. The fact is not so. This will only make them unrecognizable. In most cases, doing so actually makes it harder for them to perform their original function. You cannot simply place cryptocurrency on top of Web 2.0 and expect user experience to expand. The financial layer is not a function, it will change the user group and their reasons for access. ” I also uploaded a screenshot of the article I wrote earlier this year, which can be considered a response