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Profile

a16z crypto: The 2021-style crypto narrative has failed; project teams must demonstrate users and revenue

WuSaidBlockchainW
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a16z crypto Paul Cafiero stated that the technology and crypto industry are entering the "Show Me" era, and the previous model of gaining market recognition through vision, white papers, tokens, and team backgrounds is becoming ineffective.
With regulatory scrutiny, incidents involving bad actors in the industry, large-scale entry of traditional financial institutions, and the rapid deployment of AI products, external audiences' tolerance for "stories" has significantly decreased.
He believes that after institutions like BlackRock, Fidelity, JPMorgan, and Franklin Templeton entered the crypto and tokenization fields, the threshold for serious projects in the industry has been raised.
Project teams now need to showcase real data, on-chain transaction volume, active users, revenue, retention, deployed integrations, and verifiable partnerships.
He states that in 2021, perhaps 80% of the market could be convinced by vision and 20% by facts, but now that ratio has been reversed.
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RiskParityKid
· 6h ago
The entry of traditional institutions is indeed a double-edged sword—it brings in money as well as strict auditing standards, leaving zero room for shady, low-quality projects to survive.
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On-ChainCatUnderTheMoonlight
· 6h ago
Paul's words are straightforward: the vision premium is zero, and TVL and retention are the hard currency.
View OriginalReply0
0xLateDinner
· 6h ago
Finally, no need to look at PPTs; on-chain data will speak for itself.
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Mint-FlavoredGasFee
· 6h ago
Back in 2021, those people were still drawing up pie; now they need to put the GitHub commit count and DAU data on the table—no excuses.
View OriginalReply0

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