The Parts of Crypto That Work

Communities are active, stablecoins have clear utility and NFTs are a significant gateway.

It’s been a miserable year for crypto, hit by (or bringing upon itself), catastrophe after catastrophe, with the ultimate meltdown coming in the form of FTX’s collapse, which includes staggering levels of dishonesty, mismanagement, and what many observers would contend is blatant criminality.

On top of all this, there is still speculation that the crypto world has more shocks to come, and that a final (or should that be finally final) capitulation is yet to play out. That one last blow may or may not materialize, but either way, a period of reflection is in order.

Notably, there have been few voices declaring that crypto is dead and gone forever, unlike in previous bear markets. There seems to be a recognition now that the crypto sector is here to stay, although disagreements are common about precisely why it should stick around, and what we should do with it.

To pick itself up from the rubble and start bringing in interest again, crypto must get a better grasp on what it can do that has straightforward appeal to newcomers.