Narrative Games: Part 2
This report was originally published as an Enterprise tier report on June 11, 2024.
Key Insights
- Messari Research holds quarterly "Narrative Games" meetings to assess the potential of compelling narratives based on token supply overhang, impact, probability, and market consensus.
- This second part of “Narrative Games” covers the AI x Crypto intersection, SocialFi, and Bitcoin Programmability.
- The AI x Crypto intersection specifically focuses on inference networks. New protocol launches and excitement around TGEs will likely overcome the downside of supply overhang, but as is the case with all infrastructure layers, inference networks will need to find real demand drivers.
- Decentralized SocialFi is the financialization layer for decentralized social. It promises to accelerate the adoption of decentralized social through new and powerful financial incentives for creator and user growth.
- Bitcoin has largely been viewed as a store of value, while other alternative L1s have become more akin to tech platforms for application development. Now, this is changing, as Bitcoin is leaning into modular programmability.
Prior to joining Messari, Seth worked in traditional finance software and services, and has a MSc in Applied Mathematics. Seth is a Senior Research Analyst on the Enterprise Research team, and focuses on infrastructure, verifiable compute, and the AI x Crypto intersection.
Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.
Red is a researcher, educator, and developer in the web3 space. Red's background is in electrical and software engineering. His main interest is privacy technology, through zero-knowledge proofs and general cryptography.