Many projects that initially received support from Kaito Kickstarter have experienced significant valuation declines following the token launch event (TGE), raising concerns about long-term sustainability post-launch. Play AI, which was valued at $50 million at launch, now has an FDV of only $2.1 million, reflecting a sharp decline in market confidence. Hana Network also follows this trend, dropping from an initial valuation of $40 million to an FDV of $10.5 million.
More notably, Novastro plummeted from $50 million to just $1.05 million FDV, becoming one of the projects with the deepest correction. Bitdealer is no exception, decreasing from $35 million to $2.8 million FDV. These sharp adjustments after TGE indicate that initial hype does not guarantee long-term value, and highlight the importance of platform, tokenomics, and sustainable user engagement.
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