The time has come for true utility tokens.
Hence, nothing remains in the valley other than its stones, implying that survival is not only for the fittest but also for the good.
The demise of FTX and stablecoins earlier this year signalled the end of a cryptocurrency phase known as the greedy corruption axis.
What remains are projects that focus on technological innovation and projects that impact real life by providing tangible benefits to the community through the use of tokenized economics rather than financial speculation.
The development of projects based on smart contracts, distributed ownership, and trustless transactions will be the primary focus of investment capital in the new phase for the foreseeable future.
Only initiatives with substantial technological innovation obtain funding.
The development of actual utility tokens with circular economies reduces the incentives for speculation.
Investors in cryptocurrency “momentum” will vanish.
The remaining (true) initiatives are increasingly choosing to operate in regulated environments, viewing scrutiny as a benefit rather than a disadvantage. These are the stones that represent the aforementioned parable.