Binance founder Changpeng Zhao (CZ), who occasionally makes headlines in the cryptocurrency world with projects he praises, this time expressed his regret about a failed attempt. CZ stated in his assessment that the messaging platform ReachMe didn't meet his expectations. Zhao said the lesson he learned from this experience was that crypto projects shouldn't issue tokens without ensuring product-market fit. Related News: This Altcoin Consistently Sees Unusual Transfers to Arthur Hayes' Wallet from Developers ReachMe was a “Pay-to-Reach” messaging app built on the BNB Chain. The system, which allowed users to pay to send direct messages to influencers, was intended to reduce spam. However, contrary to expectations, the app ended up pulling more junk content instead of helpful links. The project, which never issued a token, failed to find product-market fit and was shut down as a small-scale experimental venture. Drawing lessons from this process, CZ issued the following warning to crypto entrepreneurs: “Don’t rush into issuing tokens, only consider it after the product has really generated interest.” *This is not investment advice. Continue Reading: Binance Founder CZ Reveals the Crypto Project He Regrets Supporting
