CZ: Web3 Companies Should Issue Tokens to Accelerate Growth, Not to Gather Initial Funds

Web3 companies should issue tokens to accelerate growth, not to gather initial funds, said CZ at a fireside chat at Korea Blockchain Week 2022 on Tuesday. "When people come into Web3 and want to develop applications, projects or startups, they want to issue tokens right away. I advise against that," said CZ who explained that establishing product market fit should precede token issuance. "Once you issue a token, the token has a certain utility. Whenever you change that, your token holders get affected. Either positively or negatively, usually negatively."