互聯網資本市場（ICM）代幣最近淹沒了市場

在過去的三天中，企業和開發人員已經推出了大約12,000個應用程序令牌，使投資​​者爭先恐後地跟上。

The Internet Capital Markets (ICM) tokens have been flooding the market lately, as businesses and developers have launched around 12,000 app tokens in the past three days. With this rapid surge, investors are scrambling to keep up and might need some help sorting through the good, the bad, and the ugly.

互聯網資本市場（ICM）代幣最近一直在淹沒市場，因為在過去三天中，企業和開發商已經推出了大約12,000個應用程序令牌。隨著這一快速的激增，投資者正在爭先恐後地跟上，並且可能需要在好，壞和醜陋的情況下進行一些幫助。

Amid the chaos, one expert has argued that these tokens actually represent Attention Capital Markets (ACM) and not Internet Capital Markets, and he also outlined strategies for capitalizing on the meta’s potential and highlighting its long-term opportunities.

在混亂之中，一位專家認為，這些代幣實際上代表了注意力資本市場（ACM），而不是互聯網資本市場，他還概述了利用元數據潛力並突出其長期機會的策略。

6 Factors to Assess Internet Capital Markets Tokens

6個評估互聯網資本市場代幣的因素

Breaking down the subject in a recent post on X, Yash Agarwal, co-founder of SendAI, explained that the Internet Capital Markets imply real ownership of equity through tokens on the blockchain.

仙台聯合創始人Yash Agarwal最近的一篇文章中分解了該主題，他解釋說，互聯網資本市場暗示了通過區塊鏈上的代幣對股權的真正所有權。

However, the recent app token launches on Solana (CRYPTO: SOL) via the Believe (ADJ) app don’t necessarily have any inherent equity value. Instead, they are better described as attention tokens.

但是，最近的應用程序令牌通過信仰（adj）應用程序在Solana（Crypto：Sol）上啟動不一定具有任何固有的權益值。相反，它們被更好地描述為註意力像徵。

“No equity value — apps don't have direct token integrations, and token holders don't have claim to any revenue. it's an attention token — and that's fine!,” Agarwal stated bluntly.

“沒有股權價值 - 應用程序沒有直接的令牌集成，而代幣持有人沒有任何收入。這是一個關注的象徵，這很好！” Agarwal直言不諱地說。

This clarity is useful for buyers, who can assess an app’s, and its token’s, potential by considering how much attention it is likely to get.

這種清晰度對於可以通過考慮可能受到多少關注來評估應用程序及其代幣的潛力的買家很有用。

“Attention = volumes = revenues (they're inherently incentivized to chase frothy narratives (like ai agents) to drive speculation),” Agarwal added.

“注意力=卷=收入（它們固有地激勵著追逐泡沫的敘述（如AI代理）來推動投機），” Agarwal補充說。

In addition to this key factor, Agarwal recommended considering several other attributes when evaluating an app token:

除了這個關鍵因素外，Agarwal還建議在評估應用程序令牌時考慮其他幾個屬性：

Also highlighting the importance of rational investment behavior, DeFi Mars, an on-chain analyst, urged the ICM community to focus on meaningful projects and strong teams.

鏈分析師Defi Mars還強調了理性投資行為的重要性，敦促ICM社區專注於有意義的項目和強大的團隊。

"Leave the copy-paste coins behind because in the new era of Internet Capital Markets, only quality survives!!," Mars wrote.

火星寫道：“將復製紙幣留在後面，因為在互聯網資本市場的新時代，只有質量才能生存！！”

The ease of token creation on the Believe app wasn't meant to be used to fuel the meme coin craze, but rather as part of a broader vision for Internet Capital Markets, he added.

他補充說，在相信應用程序上的代幣創建的便利性並不是要用來助長模因硬幣熱潮，而是作為互聯網資本市場更廣泛願景的一部分。

"These aren't just memes—they're building something and the market is rewarding that."

“這些不僅僅是模因 - 他們建立了一些東西，而市場正在為此帶來回報。”

Another analyst, Miya, pointed out that the Believe app—which was originally designed to serve as a replacement for traditional venture capital by enabling token-backed startup funding—is being misused.

另一位分析師Miya指出，該應用程序最初被旨在通過啟用代幣支持的啟動資金來替代傳統風險投資的應用程序。

The core idea of the Believe app is to build “network spirituality,” encouraging users to promote startups, grow user bases, and thereby increase token value.

相信應用程序的核心思想是建立“網絡靈性”，鼓勵用戶推廣初創企業，增長用戶群，從而提高令牌價值。

However, in the real world scenario, the platform has become a breeding ground for meme coins, which ultimately dilutes liquidity and undermines the essence of the Believe app, Miya said.

但是，在現實世界的情況下，該平台已成為模因硬幣的繁殖場，最終稀釋流動性並破壞了信仰應用程序的本質。

"I think we need to get to a point where Solana (or Believe) breaks free from all the low-quality slop meme coin trading and enters into a new stage, back to utility projects," Miya stated.

Miya說：“我認為我們需要達到索拉納（或相信）擺脫所有低質量的模因硬幣交易並進入新階段的地步，然後回到公用事業項目。”

The Future of Internet Capital Markets

互聯網資本市場的未來

Moreover, in addition to the evaluation factors, Agarwal also predicted several upcoming developments in this sector. Most importantly, on-chain equity will become a reality.

此外，除了評估因素外，Agarwal還預測了該領域的幾個即將發生的發展。最重要的是，鏈股權將成為現實。

In this case, owning tokens would directly translate to owning equity in the app at launch—a true embodiment of ICM.

在這種情況下，擁有代幣將直接轉化為啟動時在應用程序中擁有權益，這是ICM的真正體現。

"AI. It'll accelerate this meta a lot — is a huge tailwind and timing couldn't have been better," Agarwal asserted.

阿加瓦爾斷言：“ ai。它會很大程度上加速這個元的元來 - 這是巨大的尾風，時機再好不過了。”

Furthermore, launchpads will remain open and accessible to all. Nonetheless, specialized frontends will emerge to filter quality projects, with tiers forming based on user adoption and curation.

此外，發射台將保持開放且可供所有人訪問。儘管如此，專門的前端將出現以過濾質量項目，並根據用戶採用和策劃形成層。

Finally, Agarwal highlighted the growing opportunity for research firms and newsletters to provide high-quality, independent research on liquid tokens, similar to the offerings in equity markets. These organizations could also issue ratings for tokens, guiding retail investors in their investment decisions.

最後，阿加瓦爾（Agarwal）強調了研究公司和新聞通訊提供了越來越多的機會，可以為液體令牌提供高質量的獨立研究，類似於股票市場的產品。這些組織還可以為代幣發布評級，指導零售投資者進行投資決策。

While Agarwal’s predictions about Internet Capital Markets may yet come to pass, only time will tell whether this narrative will continue to gain traction or ultimately fade as the market matures.

儘管阿加瓦爾（Agarwal）對互聯網資本市場的預測可能會通過，但只有時間才能說明這種敘述是否會繼續吸引人或隨著市場成熟的最終消失。