Thesis of Hybrids Super Cycle

It’s been almost 8 months since Pandora’s launch, and now there are over 3,360 collections with a market cap of around $300M. 

The current daily trading volume is still around $5M, showing a huge increase over the past 2 months.

All this data demonstrates that hybrids have achieved real product-market fit (PMF) rather than being a short-term hyped narrative that dies after 2 or 3 months.

So, the next big question for hybrids is: What will catalyze the future growth to make hybrids a $300B market?

Building Scattering, the native marketplace for hybrid assets.

Launch a hybrid meme on @base 👇
https://scattering.io/launchpad/explore

2. Beyond memecoins, hybrids have an even bigger ambition: becoming protocol-level tokens.

Right now, many protocol tokens, including L1 tokens and DeFi dapps, use fungible tokens as their utility tokens. 

However, they also need to empower governance, revenue sharing, and community-building for select token holders.

Here’s a simple question: Why not empower these utilities on NFTs for better management, identity, and community culture building?

If you want governance rights, revenue sharing, or community identity, you could simply swap your tokens for NFTs. If you’re not interested, you can easily swap your NFTs back into tokens.

We believe some major dapps will embrace hybridization, combining fungible tokens with cultural elements.

3. After the protocol token stage, we’ll enter the ultimate user scenario: Real-World Assets (RWAs).

In the real world, many assets can be tokenized into hybrids to bring trustlessness and fairness to the blockchain. 

For example, Real Estate Investment Trusts (REITs) could be issued as hybrids, with each NFT representing ownership of a single housing unit. 

Homeowners could swap their ownership NFTs for tokens to gain liquidity or hold them to earn yield from interest.

Additionally, songs, eBooks, or tickets are a perfect match for hybrids—especially tickets, where VIP/common tickets could use rarity-based conversion ratios between tokens and NFTs.

These RWAs will bring hybrids to the ultimate level, potentially creating a market worth trillions.

In conclusion:

Hybrids are still in their early stages, but with enormous potential. It’s a great space for ambitious new builders and creators to explore.

Scattering will continue building the infrastructure and working together with builders in this space to accelerate its growth.

We can make it happen, and we will make it happen.

Here is our thesis:

1. Right now, the main driver of hybrids is memecoins, but with an upgraded version: Memecoins 2.0.

Currently, people are tied to extreme PvP (player vs. player) dynamics in memecoins and pump-and-dump schemes, which are not sustainable. 

The best way for hybrids to enter a super cycle is to bring culture into memecoins.

This is where hybrids come in. Everyone knows memecoins started from meme images, and almost every successful memecoin has its roots in a cultural phenomenon. 

However, at present, memecoins only bring assets and speculation to that culture, without integrating the culture into the memecoins themselves.

Hybrids can solve this by combining assets and culture into one entity: memecoins with on-chain metadata to record the culture permanently on the blockchain.

This trend is approaching quickly.