Throughout this whole 4 year cycle, our industry has only delivered 2 unique products that will add value to the real world. The first is Polymarket (improving/monetising information) and the second is Otherside (online networking hub for anon digital identities).
@Polymarket @OthersideMeta Everything else was simply infrastructure to trade/gamble tokens better within crypto (hyperliquid, pumpfun, trading bots), a rehash of existing defi/lending products that were built last cycle (eg AAVE > WLFI, Opensea > ME/BLUR), or additional blockchains/tokens that simply aren't needed. The only other area of potential was the RWA/tokenisation of physical goods, but it wasn't built out meaningfully this cycle (nor was AI) and was simply used as a quick pump/dump meta. A key reason why this was the hardest cycle yet to play, is that barely anything of value was built. Most fortunes were made/lost by PvP gambling on garbage, and (with few exceptions) anyone who believed in something instead of jumping from meta to meta got obliterated. We need the 2020 vibes/innovation back, and liquidity to be concentrated on the few projects actually pushing this space forward.