Introducing the 2022 State of Crypto Report

10 lessons from the past year

1. There has to be value: product market fit, there must be fundamental value for users


2. Web3 and crypto are not consumer friendly: people want problems addressed regardless of labels or terminology — " Crypto will scale when the technology becomes the invisible enabler of what consumer actually care about "


3. Incentive desig

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Crypto/Web3 is Inevitable: There’s a lot to unpack over the course of this report, but the general theme is consistent: we’re going from an internet built on “rented land” with monopoly overlords, to an infinite frontier of new possibilities. On the frontier, crypto presents a credible revolution to all monopolies, which is why its inevitability sc... See more

Takeaway: 1. This is the first cycle in which crypto is intertwined with the rest of the macro economy. Traditional funds and their portfolio companies agree on that each founder should limit their budget and keep improving.