🗿 The current state of blockchain (from a marketer's pov)

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GM. Just got back from Brussels and wanted to provide my bird’s eye view of blockchain based on 3-day conversations with 20,000 builders.

Thanks to everyone who came to our L2 Latte event with Blocknative. They are going all-in on gas optimization and there is no one better in the space to work with.

At Supernova, we’re already looking ahead to Korea Blockchain Week and Token2049. If you are interested in co-producing an event with us, reach out and we’ll send a deck. We have some A-list partners specifically around gaming that are interested in activating.

Without further ado, the current state of blockchain (from a marketer’s pov):

1. Marketing appears to be an afterthought – companies are taking a long-term view of crypto and remain product-focused. The main problem with that, as our friend Geoff Renaud points out, is that people are building based on today’s narratives. Not enough people are looking ahead.

2. It is evident we are a few years away from mass adoption. When it happens, it will come via financial services and have little to no cultural relevance. The blockchain industry has become a self-preserving echo chamber with very little user growth. Sure, people are making money, but in a vacuum. A major breakthrough will need to occur to find new users at scale. As stated, that breakthrough will likely be institutional.

3. Consumer crypto is essentially non-existent – every promising project either has a token or serves B2B. Farcaster raised a bunch of money and feels relevant but I don’t think we need a second Twitter. On principle, yes, we need an open social graph. But substantially no one cares enough to change their habits and by the time the market does demand an open social graph a different player with fresh powder will emerge.

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A curation of ethcc adjacent tweets:

Berachain is sus

Vape2earn was received very well

Uniswap is run by girlies

Aptos is kinda irrelevant

We have it good

More marketing thoughts from ethcc

Chain abstraction is so hot rn

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.