Rethinking the rise strategy of the Crypto Assets industry

During downturns in the Crypto Assets market, industry insiders often blame the inability to attract Web2 users, believing that the lack of new funds flowing in is the main reason. This viewpoint introduces the so-called "mass adoption" theory, which suggests that Crypto Assets products need to cater to the non-profit-oriented Web2 user base. However, this logic contains certain misconceptions.

Understanding the True Meaning of "Public"

When discussing mass adoption, we first need to clarify the definition of "the public". Simply equating it with traditional Web2 users is inaccurate. In fact, "the public" consists of individuals with different characteristics but can be categorized.

The core value of Crypto Assets lies in their permissionless nature, which primarily targets those groups restricted by banks, governments, and large corporations. These users often have an arbitrage mindset and an anti-establishment tendency, and can be referred to as "merchant" type users. They may not engage in actual business activities, nor are they necessarily wealthy, but they often belong to minority groups.

These users tend to fully price their resources such as time, energy, and connections in order to maximize their returns. Therefore, profit is often their primary goal.

Assessment of the Current Status of the Crypto Assets Industry

According to statistics from a certain data platform, the number of global Crypto Assets users reached 520 million in 2023. Considering that the top 10% of the global population (about 800 million) accounts for 52% of the world's total income, we can speculate that there may still be about a 30% rise potential in the Crypto Assets industry.

This means that in 2024, for the population with a higher education level, not having heard of Bitcoin is actually a rare occurrence. Therefore, we may have already approached the actual target market (TAM) limit of the Crypto Assets industry.

Focus on the existing market and high-frequency users

The rise logic of the Crypto Assets industry is similar to that of the gambling industry. From an overall industry perspective, the distinction between incremental and existing markets is not clear, as theoretically, everyone with financial capacity is a potential market. The growth of the Crypto Assets industry depends more on the activity level and transaction frequency of existing users.

Therefore, the focus of the industry should be on cultivating high-frequency users and large accounts. This process is similar to the gaming industry in cultivating users who are proficient and addicted to specific games, as well as attracting VIP customers.

From "Mass Adoption" to "Mass Access"

The Crypto Assets industry should clarify its position: to allow users to make money here. We need to provide a platform for "merchants" around the world who are trying to profit, provided they learn and abide by the rules of encryption.

Users primarily profit through games involving the flow of funds, such as trading, staking, and lending. The development of the industry should revolve around this core logic.

Users who do not follow the rules or suffer losses due to insufficient skills will be eliminated, leaving the proficient users as high-frequency users, among whom the outstanding can enter a more advanced "VIP" field.

Conclusion

"Massive Access" should become the core logic of project development and industry rise. This perspective helps explain why meme coins, inscriptions, and certain specific public chains are popular, rather than other seemingly more "mainstream" projects. It also illustrates why the lack of developer resources may be more critical than the number of users.