1/ Crypto is hyper-focused on RWAs, but what’s more interesting are NNAs - Net New Assets.

I’ll loosely define NNAs here as assets which are prohibitively expensive due to issuance or regulatory costs or assets that are outright outlawed.

Blockworks Research. @_RyanRConnor on twitter/X. 

2/ Crypto has already achieved strong PMF in the issuance of NNAs, but this success has largely gone unnoticed. 

Examples with PMF today include perpetual futures and meme coins.

3/ Some NNAs I think we can expect in the future are 
- perpetual options 
- life outcome shares 
- social outcome products
- structured MEV products
- health outcome contracts
- structured gambling products 
- hyper-local weather futures & options

Among many others

4/ There are obvious legal and ethical concerns here, but, as you all know, we should expect shots on goal here in a permissionless and open system.