In the fast-paced world of cryptocurrency, ideas that flopped in previous cycles often make a triumphant return when the timing is right. Richard Chen, founder of VarrockVC and former General Partner at 1confirmation, recently shared this insight on X (formerly Twitter), highlighting how execution and market readiness matter more than being first.

Chen points out that before Polymarket became a go-to platform for decentralized prediction markets, there were predecessors like Augur, Veil, and Guesser. These early attempts at creating betting platforms on blockchain aimed to let users wager on real-world events, from elections to sports outcomes, without intermediaries. However, they struggled with issues like slow transaction speeds, high fees, and limited user adoption during the 2018-2020 bear market. Fast forward to today, and Polymarket is thriving, thanks to improved blockchain infrastructure, like faster layer-2 solutions, and a surge in interest during high-stakes events like the 2024 U.S. elections.

Similarly, in the realm of user-friendly wallets, Privy has carved out a niche with its embedded wallet technology, which seamlessly integrates crypto storage into apps without forcing users to manage complex seed phrases upfront. But this isn't a new concept—projects like Fortmatic (now Magic Labs), Bitski, and Portis tried the same approach years ago. They aimed to lower the barriers to entry for non-technical users but hit roadblocks due to immature ecosystems and regulatory uncertainties. Now, with better developer tools and widespread mobile adoption, these ideas are finally clicking.

This "why now?" question that Chen emphasizes is crucial for anyone in blockchain, especially in the meme token space. Meme tokens, those viral, community-driven cryptocurrencies often inspired by internet jokes or cultural phenomena, have seen their own cycles of boom and bust. Think back to the early days: Dogecoin launched in 2013 as a satire but didn't explode until 2021, riding the wave of social media hype and celebrity endorsements. Before the current frenzy with tokens like PEPE or WIF, there were countless meme experiments that faded into obscurity because the market wasn't ready—liquidity was low, exchanges were clunky, and retail investors were scarce.

What changed? Timing. Today's meme token ecosystem benefits from decentralized exchanges (DEXs) like Uniswap and Pump.fun, which make launching and trading tokens as easy as posting a tweet. Social platforms like X and Telegram amplify virality faster than ever, and tools like AI-generated art lower the creative barrier. Plus, with broader crypto awareness post-Bitcoin ETFs, more people are dipping their toes in, turning memes into multimillion-dollar phenomena overnight.

But as Chen implies, first-mover advantage is overrated. Being the original doesn't guarantee success if the supporting tech or user base isn't there. For meme creators and investors, this means focusing on current trends: What's hot in culture right now? How can you leverage existing tools for better distribution? It's not about inventing a new wheel but timing your roll perfectly.

Replies to Chen's post echo this sentiment. One user noted how Augur "walked so Polymarket could run," underscoring the iterative nature of crypto progress. Another highlighted embedded wallets' evolution, with Magic Labs still powering big names like Polymarket itself. In the meme world, we see parallels—early memes paved the way for today's polished launches, complete with professional marketing and community bots.

Ultimately, Chen's tweet is a reminder that crypto is evolutionary. Ideas that didn't stick before can flourish with the right conditions. For meme token enthusiasts, this encourages patience and observation: Watch for resurfacing concepts, like AI-integrated memes or cross-chain virality, and strike when the iron's hot. As blockchain matures, the "why now?" mindset could be your edge in spotting the next big thing.