No, your dApp does not need a token to succeed

There is a destructive belief in the crypto-ecosystem that a successful decentralized application (dApp) needs a native token to support it. It is because of this belief that many projects raise tens to hundreds of millions of dollars only to find themselves attempting to make their dApps work with their tokens instead of building usable products.

It is hard, however, to blame entrepreneurs in this space. When your competitors are raising, via ICOs, what amounts to Series D rounds for back-of-a-napkin products you can’t help but to take a seat on that same rocket ship. Ultimately, ICOs have done a disservice to entrepreneurs: ICO wealth has blinded many who now believe that successful dApps need native tokens. This is not true.

Tokenless dApps like OpenBazaar and Mastodon have succeeded not because have they raised millions of dollar through ICOs (they haven’t) but because they are building products in spaces where needs are unmet. Additionally, instead of making their dApps challenging to use — by incorporating “