Author: 0xJeff, Crypto KOL
Compiled by: Felix, PANews
Driven by the global AI wave, crypto AI Agents have surged in popularity, with numerous AI Agent projects emerging like mushrooms after rain. How can one successfully build an Agent project? What are the common misconceptions? Crypto KOL 0xJeff summarizes the common pitfalls.
In the past few months, I have spoken with hundreds of AI agent teams. Many teams have fallen into the same common traps. Below are the 7 major mistakes discovered during these conversations, along with suggestions on how to avoid them.
1. Imitating Pioneers
Virtuals Protocol pioneered the narrative of AI agent tokenization. By collaborating with top teams, they continue to create innovative agents. Virtuals Protocol holds over 50% of the AI agent market share due to their excellent storytelling and narrative building.
Many teams believe they can replicate the success of Virtuals Protocol by tokenizing their agents, pairing them with their own tokens, and launching on a new L1/L2 (hoping to achieve PMF immediately). (Note: PMF refers to Product-Market Fit)
In reality, this approach is ineffective for two main reasons:
There are already too many agent tokens in the market; simply launching another agent token is not enough.
The VIRTUAL/Agent LP structure is tricky, especially for early projects with low liquidity. Altcoins: The LP of altcoins is inherently fragile, leading to higher volatility and impermanent loss. Liquidity providers (LPs) will avoid them, resulting in even lower liquidity and extreme slippage.
What to do:
Find a unique niche market that addresses a real problem in a specific field.
Choose LP pairs of mainstream coins or altcoins with stablecoins. They are structurally more robust, especially in volatile markets.
2. Founders/Co-founders Lack Sales Knowledge
Many teams are composed of developers who do not understand sales. As the number one salesperson, if the founder is not interested in their own product, why would they expect others to be?
Conducting marketing efforts led by the founder and driven by the team (where the team actively engages in CT and continuously discusses their product) is organic marketing. People will become curious and try it out, providing feedback in the process. There is no need to burn money or tokens to acquire users.
3. Building Products That Fit the Narrative
Forking Compound, AAVE, OHM, or Solidly—just because they were popular at the time.
Launching an AI agent—just because it is trendy.
Building without understanding the problem to be solved or the target audience is one of the fastest ways to fail.
Before building, ask yourself:
Who are the real customers?
Is the build driven by hype or by solving a real need?
Are you forcing the product into a non-existent market?
Is your token the actual product?
4. Launching Tokens Before the Product
Launching tokens before the product means the token will become the main focus. Worse yet: the team starts selling tokens, competing for listings on exchanges, and neglecting product development.
This will never yield good results; without a product, revenue, and appeal, there is no reason for anyone to hold the token.
What should be done:
Find some form of PMF before launching the token.
Only issue tokens when there are clear network effects and actual value accumulation.
5. Skipping the "V" in MVP
MVP = Minimum Viable Product. But many teams skip the "Viable" part and launch a useless, minimal product that no one cares about.
An MVP should be a basic but fully functional product that allows early users to try it out—this way, you can collect feedback and iterate on the product.
What to do:
Engage in genuine communication with users.
Understand their needs and then build a product that users will actually use.
Do not cling to your assumptions before proving real value.
6. Lack of Clear KPIs, Goals, or Vision
Some teams drift aimlessly: chasing trends, blaming the market, and passively responding instead of executing a clear plan.
What should be done:
Set clear, measurable KPIs from day one.
Define what success looks like—what problem you are solving and what important milestones are.
Pivot if certain aspects are not working; no one gets it right the first time.
7. User vs. Investor Expectations
Web3 projects have two types of products:
Tokens
Actual products
This means attracting two types of supporters:
Speculators: those who speculate on tokens
Real users: those who care about the product
Many projects fall into the KOL trap: paying unreliable KOLs to promote their tokens. The result is attracting a large number of Degens who do not care about the product, and when prices drop or airdrops disappoint, they blindly sell off and label the project a scam.
What to do:
Have a strategy for your marketing targets.
Do not promote the token. Instead, clearly outline the tokenomics and value accumulation—why the token exists and how it benefits users.
Rather than wasting stablecoins and tokens on KOLs, let real partners become stakeholders.
Speculators and real users have different needs. One wants to use the product, while the other wants to buy low and sell high. Supporters of both will emerge, but ensure that you attract and incentivize the right people.
Conclusion
Avoid these common mistakes, focus on real user needs, and build something truly important. The market rewards those who create real value, not those who chase trends, hype, or short-term speculation.
Good projects are not built overnight, nor are they built by imitating others. Take the time to understand your users, improve your product, and develop a sustainable strategy. The success of Web3 projects comes from innovation, execution, and resilience, not just launching a token or following a narrative.
If you want to participate in the long term, work towards long-term development.
Related Reading: Reflecting on AI Agent Entrepreneurship Models: Attention is Not Everything, Real Needs are Key
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