In the fast-paced world of crypto, it's easy to get caught up in the hype. But a recent tweet from PixOnChain draws a striking parallel between today's blockchain projects and the internet boom of the 1990s. Quoting a post from Caldera about their impressive revenue generation, PixOnChain reminds us that history doesn't repeat itself, but it often rhymes.

Back in the '90s, internet companies were all about "eyeballs" – that is, attracting users and attention without much thought to actual profits. Valuations skyrocketed based on user growth metrics, assuming the money would follow. Sound familiar? It's a lot like how many crypto projects, especially meme tokens, have operated for years. Tokens launch with viral marketing, celebrity endorsements, and community buzz, driving prices up without a solid business model underneath.

PixOnChain points out that the dot-com crash weeded out the pretenders, leaving giants like Amazon, eBay, and Google to build the modern web. Similarly, crypto has raised billions through token sales, often with little more than a whitepaper and promises. But as the industry matures, narrative alone won't cut it. "Narrative got us here," the tweet says, "revenue will decide who stays."

This hits home for meme tokens, which thrive on memes, social media trends, and community engagement but rarely generate real on-chain revenue. Projects like Dogecoin or Shiba Inu started as jokes, yet they've built massive followings. However, without sustainable income streams – think transaction fees, staking rewards, or integrated utilities – they risk fading when the hype dies down.

Enter Caldera, the rollup ecosystem highlighted in the quoted tweet. Rollups are layer-2 scaling solutions on Ethereum that bundle transactions to make them cheaper and faster. Caldera has deployed over 30 mainnet chains, generating more than 2,700 ETH (about $12 million) in transaction fees. That's real usage translating to real revenue. Each new rollup they launch adds to this, showing a scalable model that's grounded in actual blockchain activity.

For meme token enthusiasts, this is a wake-up call. While pure speculation can pump prices short-term, long-term survival might depend on evolving beyond memes. Imagine meme tokens integrating with rollups for low-cost games, NFTs, or DeFi features that rake in fees. Projects that pivot to revenue-generating utilities could mirror the dot-com survivors, becoming staples in the crypto ecosystem.

Of course, not every token needs to be a revenue machine – some will always be about fun and culture. But as investors get savvier, betting on projects with tangible economics could pay off. If you're building or investing in meme tokens, take a page from Caldera's book: focus on real usage to drive lasting value.

Curious about more insights? Check out the original tweet here and Caldera's announcement here. Stay tuned to Meme Insider for the latest on how meme tokens are adapting in this revenue-driven era.