The ICO era is returning? Airdrop financing models are being rewritten

【Crypto World】Airdrops as the main financing method seem to be coming to an end. A recent clear signal is that regulated ICOs are making a comeback in the United States. The practices of some leading platforms have already confirmed this trend—successful projects like MegaETH tell us that the market is correcting the previous misaligned incentive mechanisms.

In simple terms, the over-reliance on airdrops and venture capital-driven models in the past caused quite a few problems. It distorted the true market pricing and made profit distribution somewhat chaotic. The current shift aims to address exactly this issue.

There are several benefits to this new financing approach. First, users can participate directly in fundraising, enabling a genuine price discovery mechanism. Second, the interests of project teams and users can be better aligned—everyone is on the same boat. Lastly, airdrops are not disappearing but evolving. In the future, they are more likely to be used as loyalty rewards or governance incentives rather than as the main force behind fundraising.

This change reflects the maturity of the entire Web3 ecosystem—from wild growth to a pursuit of real value.