Except for Bitcoin, all crypto asset prices are downstream of usage.

Better articulation

Two ways to increase asset prices in crypto:

1. attention
2. usage

Attention is easier but fleeting. Few assets can create ongoing attention. And even in that case, hard to compete with the attention / memetic Schelling Point of Bitcoin at scale.

The way to create ongoing value is transform attention to usage. 

But usage requires apps. Those can be onchain protocols, but likely also need retail / consumer apps to continue to scale.

Attention without usage eventually fades for everything else except Bitcoin. Half-life can be long.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

Reasonable that blue chip NFTs like Punks or Fidenzas are pure attention games. But remains to be seen how much they can scale in terms of total market cap.

it's just tulip mania because there's no one behind the curtain. it's not like supporting an artist or a dev