2023-05-12 03:35:54
Five takeaways from Consensus 2023, the biggest crypto conference in the U.S.
With an oversaturation of L1s, crypto is missing a new narrative
All previous bull cycles had a narrative that drove excitement & price action, ranging from ETH Killers (2016-17), DeFi (’20), NFTs + Gaming (’21). There’s no prevailing narrative today, and crypto as a result feels adrift.
New Layer 2s are coming, and they won’t stop coming
Given the ever decreasing costs of launching an L2 through template-like deployments or shared network securities models combined with the persistent premium for L2 valuation, expect a hyper-saturation of L2s in the coming months.
Regulatory environment: slow progress in the U.S., opportunistic in Asia
Everyone is seeking clarity on the U.S. regulatory approach to crypto, while Hong Kong is fighting to recapture the flow of funds and innovation that had previously moved to Singapore.
More dry powder at the seed stage
Seed-stage VCs are resuming deployment after a period of observing from the sidelines. Numerous funds have reported active Q1s and are poised to maintain their momentum, anticipating a robust half-year of funding through 1H 2023.
Crypto gaming is experiencing a reset
Teams are still building new games, new gaming infrastructure is being developed, and investors are still deploying capital, now more responsibly and selectively. While crypto gaming hasn’t been figured it out yet, don’t sleep on it.
Full story: https://blog.coinlist.co/five-takeaways-from-consensus-2023/
38.0K views00:35