Crypto Projects Transitioning from Trading Revenue to Real-World Utility Potential

Recently, I have been writing a lot about abstract concepts in blockchain and cryptocurrency. About a year and a half ago, I argued that crypto projects should generate revenue through actual products and then buy back or burn tokens. This was before Uniswap, Jupiter, and Hyperliquid announced token buybacks. I believed this approach was natural, regardless of the regulatory considerations they were reviewing at the time. However, these projects share a common issue: they buy back tokens using profits generated solely from crypto trading, which is still their primary revenue stream. Essentially, they function like exchanges. If the tokenization of securities becomes fully successful, they could tap into a much larger market, but I find that scenario too uncertain. For investors to accept securities tokens, they must be able to claim ownership of assets like stocks. While trust might be high for securities bought through established brokerages in some countries—since government intervention would protect investors in case of a brokerage failure—the same cannot be assumed elsewhere. A year ago, I explored the potential of crypto and AI combined through a large language model, where proving one’s identity becomes possible as AI and human distinctions blur. But outside a few retail efforts, this has not yielded much revenue, and I’ve lost interest, especially seeing that $grass (the project) hasn't been transparent about its earnings, which I find disappointing. Now, I see enormous potential in abstract projects. Few discussed the potential of consumer chains back then—probably only people like Pengu and myself, who talked about the gap between the crypto world and the traditional market's purchasing power. In April, I judged Pengu as undervalued and still believe it’s reasonably priced today. Back then, Pengu was worth 1/1000th of Disney, now it's about 1/100th. Recently, I’ve been writing about abstract projects because they announced a potential opportunity to buy into a security-like token (tentatively called $abs). Although the details are unclear, if successful, this could be a great opportunity. At this point, I believe we should focus on projects capable of substantial growth outside of relying solely on crypto-generated revenue. Remember, users don’t need to understand blockchain technology—they just need to find it interesting, useful, or profitable.