Project builders need more than capital injections.

They need runway. They need believers who won't flip tokens at the first pump. They need real users, not mercenaries.

That's where Initial Wrapped Offerings flip the script.

VC money comes with a countdown timer and quarterly check-ins. IWOs? They attract people who lock tokens because they're betting on the actual product, not just the next exit multiple.

Different incentives. Different outcomes.