If a crypto project has no token, Would you still care about It?

[vs2014]

Firstly it's important to understand the difference between investing in a project and using a project's product. Moreover we should judge a project based on the service it can provide instead of looking for tokens rewards. However money always involved with crypto market and most of people will leave if there's no chance of making profit. Besides teams need financial support to run their protect along with its development. If a project can solve real life problem and match my interest, then no problem to choice the project.

[zasad@]

I’d like to add my two cents to my previous post. Crypto regulation in the U.S. is currently moving very slowly, which creates a number of regulatory-related risks. I’ve read that some major projects prefer to opt for a clear financing model based on equity an approach that is well-understood by all investors in this market.

[batako]

I've noticed that a lot of people in crypto pay attention to projects mainly because of their tokens, airdrops, or potential profits.

But what about projects that are actually building something useful without having a token?

Would you still follow them or use their products if there was no chance of getting an airdrop or making money from them?

On the other hand, there are projects with tokens already trading, but sometimes the product itself doesn't seem to get much attention.

I think this says a lot about what people are really looking for in crypto.

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

Curious to hear your thoughts.

No one cares about crypto but instant profits they might get while the hype is still there!

So, I bet, people wont follow let alone touching the product if a project didnt offer benefits for its users.

[coin-investor]

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

The value of a platform is not in a token but in its use case. The use case will stand the test of time, while the token will become useless if there is no platform associated with it with a usecase.

This is why memes become useless over time: a lack of use cases. Use cases are everything, no token can exist without it, but platforms can continue to exist without a token.

[MAAManda]

There are many impressive wallet projects currently in existence that do not have own tokens (such as Electrum, MetaMask, etc.). Blockchain infrastructure provider (like Blockscan, Alchemy, DefiLlama and others) also do not have own tokens.

You're right, mate. I missed all of that & maybe we can exclude Electrum since this discussion is in the altcoins section, as for others like MetaMask or DefiLlama, we never really know what the future holds. I feel that they will monetize their platform, much like what Arkham has done.

It honestly never occurred to me that something like that could exist in this industry, because, generally speaking, projects are focused on the output of the work being done, aren't they?

[_act_]

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

There are many projects that has no tokens. Even there were some that did not have a token before but later had a token. Example is Wallet Connect that did not have a token before until 2025, but people have been using WC since years ago. There are some like noncustodial wallets that do not have a token. If the project is useful, people will definitely use it. But you can see some of them not having tokens today, that does not mean they will not have tomorrow, although not all of them will have tokens.

Polymarket is widely used today, but not having token yet.

[Ahli38]

I've noticed that a lot of people in crypto pay attention to projects mainly because of their tokens, airdrops, or potential profits.

But what about projects that are actually building something useful without having a token?

No, you're wrong. People in the crypto space also discuss the benefits or even the utility of altcoins. You can see that some Layer 2 networks are frequently discussed even though they don’t have tokens. These projects usually prioritize scalability issues, where it can enhance their functionality. Ethereum Base is one example of a project that doesn’t have a token. However we still don’t know if they’ll actually launch their own token in the future as has been rumored. But from this we can see that these Layer 2 networks are frequently discussed because of their functionality, where they’re widely used on a large scale in the crypto world. I personally use the Base network for various purposes. And I think t that other Layer 2 solutions will also be widely discussed if their use cases are clear even without a token. On the other hand perhaps we can consider the Lightning Network’s Layer 2 as one such example.

[bangjoe]

Why would it be called a "crypto" project then?

I think a perfect example is companies that have not "tokens" but have a working product. There are so many of them out there, but even then people will get interested because they think the company's stocks or shares will grow with time.

At the end of the day, people are out there to make money; a few will just do it as a hobby or something like that.

I think there are for crypto projects that have many benefits but they don't have tokens, one of them is Dexscreener is a project that I often use to find meme tokens and yes it is very useful in essence.
Others such as Base or Robinhood network so far do not have official tokens, unlike other L2s that already have their own governance tokens, Metamask also as far as I remember does not have this token wallet that is often used, or like Defilama, Electrum and others do not yet have tokens, and products from them are very often used in the crypto ecosystem to this day.

And maybe there are many more projects that are very useful in the blockchain world but they do not or do not have tokens yet.

[Callido]

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

Curious to hear your thoughts.

It takes a lot to say yes, because the majority of crypto holders are in the business cause of profits, anything that will not generate profits is unlikely to be spent on. If the project is centralized, it means the owners are also profit-minded.

I can use them but not pay for them, if it is a platform. We use blockchain explorers but don't pay for them, and they don't have tokens.

[o48o]

I've noticed that a lot of people in crypto pay attention to projects mainly because of their tokens, airdrops, or potential profits.

But what about projects that are actually building something useful without having a token?

Would you still follow them or use their products if there was no chance of getting an airdrop or making money from them?

On the other hand, there are projects with tokens already trading, but sometimes the product itself doesn't seem to get much attention.

I think this says a lot about what people are really looking for in crypto.

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

Curious to hear your thoughts.

Can you explain what you mean by "crypto project" then? You mean like a cex, dex or a wallet? Those have existed before tokens and they were and still are popular. And i am definitely using them

Most projects don't need a token, they are just releasing it to fund themselves, or when it's needed it's an essential to make their chain secure. Those are just usually L1 projects with coins, not tokens.

[Josefjix]

Coingecko is a crypto project without a token, coinmarkcap has no token, noncustodial exchange has no token, some crypto casino platform has no token, fundraising as well as token launchpad platform has no token and many other projects.

It's good you should know what product they are offering and see if you can buy them. Some crypto platforms offers products to developers, AI automated tools, software and hardware for traders and developers without token. Do you see any need of buying these product to attaching to your platform?

It's up to you.

[TastyChillySauce00]

I might use it, provided it’s genuinely useful, but does such a project actually exist in the industry?

There are many impressive wallet projects currently in existence that do not have own tokens (such as Electrum, MetaMask, etc.). Blockchain infrastructure provider (like Blockscan, Alchemy, DefiLlama and others) also do not have own tokens.

Furthermore, there are certain DeFi lending or exchange projects that, from a technical standpoint, do not actually require a token. They simply create tokens for the purpose of managing funds, rather than having them play an active, direct role within their own service protocols. A case in point is Uniswap.

Blockchain infrastructure provider like Alchemy and others are registered companies and their product is subscription based instead of open protocol, having token would be strange.

I wish Metamask have some kind of governance through token shareholder voting though, the wallet is falling behind because it's directly managed by company that only wants to make profit and their $MASK airdrop is a bait for airdrop farmers to give them money and keep using their services.

[Delaforetnoire]

So here's my question: if a project has a useful product but no token, would you give it the same attention as a project with a token?

You clearly said that if there is a useful product and the product has good value, there is no reason to look at it negatively because they may not have their own project token, if they don't have one, there is nothing unusual about it.

Because there are many projects that are doing well but still do not have their own native token.

If we compare two projects, one that has no token but has a good product and another project that has a token along with other systems then the one with a token and everything else will be chosen, but if the one without a token has a good product, it cannot be considered bad either.