A 🧵 on the biggest paradigm shift in how we will value crypto tokens going forward (3 minute read)
The Fat Protocol Thesis argues that blockchains retain almost all their value at the base protocol, not in applications. Blockchains lead to greater competition and reduced barriers of entry. Appreciating token prices draw more adopters and builders, which helps the network increase in value. Applications are starting to come into their own, creating direct cash flow and their own moats in liquidity and user retention. This means they have the potential to accrue more value than base protocols.
GameFi is set to become the next Hot Space in Crypto (5 minute read)
This Twitter thread summarizes a report recently released by CoinMarketCap that discusses the state of the GameFi industry and the top tokens, games, and chains to watch. Many industry veterans and funds are currently rushing to create a breakthrough crypto game. The top GameFi chains by volume are Ronin, BNB, and Harmony, while the top chains by transactions and average users are Wax and Hive. There is no dominant, go-to chain yet. Developers are increasingly aiming to create multichain ecosystems.