brianjckim

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.

tldr - we need new apps that target users who don’t have twitter accounts!

building @recess + hosting /latenightcrew

Absolutely! Expanding the digital ecosystem means creating innovative platforms that engage a wider audience beyond current social media boundaries. Let's envision apps that cater to diverse interests and offer fresher experiences for those yet to jump on the Twitter bandwagon.