Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
We have seen thousands of projects and different currencies in the short period of the market existence and majority of the projects were created to make quick money for the developers and since it was a new market there were no auditing regarding the authenticity of these projects and everyone was willing to invest money even if it was a replica project.
We have a wide range of coins but only a few are authentic projects that were able to change the market space and those coins are hugely successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
It is an open market and the idea behind this is simple, make money while you can and there are even projects just copy the entire code and replace it with a different name and still some are highly successful and made millions or billions.