Consumer Crypto

> competition gets most intense when resources are limited. in consumer crypto, resources = users

users will come if you build something people want to use. in crypto, something that helps them make money

both platforms are clear examples of growth in terms of users and volume since april, and might be among the few that actually found pmf after the memecoin market crash

since may:
- pumpdotfun minted 1.88M tokens
- polymarket has a 5584.51% increase in non-election users

one thing i like about these projects is that their UX is pure chaos, yet they still keep onboarding users, converting normies into crypto users

CLUB 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.

researching onchain | writing tomu.xyz founded overgie.com mintgate.io | nf.td/tomu

related: https://warpcast.com/ted/0xfd3219fc