a16z published their state of crypto report last month. It’s a 50+ slide presentation that outlines where we are in Crypto’s lifecycle, current market conditions, and what the future holds.
The presentation is long, but I read through it so you don’t have to. Here are my key takeaways.
NFTs are becoming mainstream and that’s great for creators
NFTs are becoming mainstream and that’s great for creators. NFTs were a huge narrative in 2021. We saw pictures of Apes selling for millions of dollars.
A lot of what went on in the NFT space is unsustainable. Most projects that exist now will inevitably go to 0. But NFTs are more that just monkey pictures.
They have countless applications, and they’re going to play a key role in the creator economy.
Web3 is much better for creators that web2 already. Take a look at Web2 vs Web3 take rates:
Creators are already making more with NFTs than they did with Web2 platforms.
Crypto will have a huge impact on financial systems
7 billion people don’t have bank accounts. Demand for decentralized finance or DeFi and digital dollars has increased dramatically. DeFi has the potential to solve these issues.
Crypto has already had a huge impact. DeFi is huge on a global scale.