Pro
Consumer Crypto & Net New Assets
It’s Time For Consumer Crypto
The consumer crypto era has definitively begun, as crypto consumer apps are proving to be viable business models worthy of founder dedication and VC capital.
We think a number of bullish factors are colliding, making now the time for consumer crypto to flourish.
- Crypto’s installed base is meaningfully large. Phantom wallet has 15 million MAUs and mainstream recognition.
- Speculation has been culturally normalized. Sportsbook odds are ubiquitous, prediction markets are increasingly taking mindshare in traditional media.
- Crypto consumer apps are generating meaningful profits. Pumpfun style memecoin trading has demonstrated significant product-market fit, generating over $700 million in annual revenue. Telegram trading apps like Axiom are also generating significant earnings. Investors and builders are taking note.
- UX is sufficient. Transactions on platforms like Solana and Hyperliquid have a web2-like feel and are viewed as essentially free by retail, in contrast to crypto’s long history of poor UX and high fees.
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Ryan spends his time on infrastructure, DePIN, and the consumer space. He was previously a macro researcher and investor.
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