The rise and fall of Internet Computer (ICP) and what you can learn from it.

2018 was the date DFINITY, the company behind ICP, was planning to launch their project which had the goal to reduce the costs of cloud services by creating a decentralized "internet computer". 3 years later, in 2021, the project was finally launched. The company was backed by some really big investors and it raised $102 million from these investors at a valuation of more than $9.5 billion. These funds helped the developers to promote Internet Computer significantly before its launch. 

What we can learn from this?

Sometimes a great marketing campaign is all a project has to offer.

Just because something took a longer time to develop doesn't guarantee its success/quality.

After being launched, various websites started predicting left and right how ICP would end up being a TOP 10 crypto project. Reaching an all time high of over 600$ sure made it seem that way. BUT then, ICP's value decreased till it reached its all time low of 27$, which was highly unusual for a project of this scale.

Currently, ICP is considered one of the biggest crypto failures to happen this year and analysts are skeptical about it making a come back.

FOMO can be your biggest enemy sometimes.

Hopefully, not many events like that one will happen soon. It definitely made some people lose a lot of money.

Take care y'all.