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ted (not lasso)
@ted
thoughts from a16zcrypto.com/stateofcrypto for discussion cc @a16zcrypto: competition gets most intense when resources are limited. in consumer crypto, resources = users. given the intense tribalism rampant on crypto twitter, it's no surprise that crypto isn't onboarding new users — and we haven't since april. since april, there has been a 3.25x increase in # of unique users on blockchains (37M to 125M) and plateaued mobile wallet users (27M). great, you may think. think again. from april to september: - transactions across blockchains dropped from 2.67B to 2.1B; the avg txns per unique user dropped nearly 75% from 72 to 16.8 - DEX volume dropped nearly 30%. stablecoin volume dropped almost 25%, although had a record month in august. NFT buyers dropped 25% - worse, imo, is the # of active and interested developer building publicly in crypto has been on a downward trend since january 2022 if you're a consumer app targeting crypto only, i hope you have enough runway to wait for a true bull market.
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Chris Carella
@ccarella
Would love for them to add some charts on investment(s) in the space. A lot of devs I know who left crypto did so after their startups shutdown and they needed to get another job and their wasn’t many new opportunities in crypto. That’s a personal anecdote and likely doesn’t tell the whole story but I think it is at least some of why developer interest is down. Despite FC hacker culture, most devs work on things for a paycheck.
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