Recently, the attention platform in the Web3 space has sparked heated discussions again. Although it missed the opportunity for the surge of $ARBUS, the underlying development logic is worth exploring in depth.

In the current cryptocurrency market, platforms like Kaito, Cookie, and Arbus can be seen as "attention launchpads," similar to Daomaker and Coinlist from the previous bull market. The core competitiveness of these platforms lies not in technical algorithms, but in their service capabilities aimed at enterprises—specifically, their ability to attract high-quality projects for promotion. This directly reflects the project parties' evaluation of the platform's user quality, engagement, and conversion effectiveness.

Based on market performance, we can divide these platforms into three tiers:
Top: Kaito (circulating market cap approximately $270 million)
Intermediate: Cookie (circulating market value of approximately 89 million USD)
Emerging: Arbus (circulating market cap approximately $1.9 million)

The recent rise of Arbus is mainly due to the news that $ARBUS token stakers can receive $RING airdrops. However, after experiencing a significant increase, the market may see a certain degree of correction.

The collaboration case between Arbus and Ringfence is quite representative, revealing Arbus's actual capabilities in enterprise services. Although Ringfence has received investments from institutions like the Near Foundation and Morningstar Ventures, and the project quality is impressive, its circulating market value of 6.6 million USD limits the size of the incentive pool, making it difficult to support large-scale user participation.

A deeper challenge lies in the limitations of the ecosystem. Arbus currently mainly serves the Virtuals ecosystem, but the projects within this ecosystem are generally smaller in scale, which fundamentally restricts Arbus's development potential. In contrast, Kaito is able to provide services for the leading projects across the entire crypto market.

For Arbus, the breakthrough in the future may lie in:
1. Break through the limitations of the Virtuals ecosystem to attract a wider range of quality projects.
2. Innovative business models, such as starting from alpha mining like Surf and gradually evolving into a comprehensive trading platform, or learning from Kaito to provide diverse data services for project parties.

Currently, it seems that expanding service scope and attracting more quality projects is the most viable development path for Arbus. As the Web3 ecosystem continues to evolve, the landscape of the attention economy will also be continuously reshaped, and the development trajectory of emerging platforms like Arbus deserves ongoing market attention.