Projects like BTP initially seem interesting, but upon closer inspection, they are riddled with problems.

The core issue lies in the unequal tax structure—the taxes ultimately flow to the creators, and the cards or other assets they purchase ultimately belong to them, while the funds come entirely from investors. Essentially, it's the same old empty-handed white wolf logic, yet people continue to follow suit.

The previous wave of supporting auction WIF operations is a clear example. Creators earned plenty of buzz and profits through such marketing tactics, while ordinary participants were deeply trapped. Under this fragmented profit distribution model, retail investors bear all the risks, while the profits are structurally transferred to the operators.

After understanding this mechanism, it becomes clear why such projects keep reappearing—not because the projects themselves are particularly clever, but because participant psychology is easily manipulated.