Crypto sector currently experiencing a turbulent time “quiet quitting crisis,” A hedge fund veteran and digital asset expert says.
Employees who only do the minimal level of work are referred to as “quiet quitters”. work Their jobs requires that they. “quit” The idea of extra work is not a good one.
Travis Kling is the chief investment officer and founder of Ikigai Asset Management. says This phrase shows the state of cryptography today.
“What I’m seeing and hearing is that a meaningful swath of the crypto community is simply much less engaged than in prior years. And they are much less engaged because there is much less belief in the potential of crypto projects to solve real-world problems and gain significant adoption as a result. That was a dream that was consistently sold and bought from 2017 (the year I got in) until 2022 – ‘crypto will solve real-world problems and gain significant adoption as a result.’ Many billions of dollars of venture capital funding were raised on this premise.”
Kling argues Now it is apparent “how utterly pointless and ridiculously overvalued” Many crypto-projects are.
The crypto enthusiasts do not know what’s going to happen. next big leg up. No NFT summer. No NFT Summer. The gaming industry is DOA. Metaverse was a joke. The decentralized social media industry has plateaued. Crypto x AI is causing a lot of excitement, but it’s not worth the hype.
DePIN is working and growing and is exciting – probably the brightest spot in the alts landscape at the moment. It’s clear that people are interested in this sector because of its strong price growth, which is driven by the adoption of real-world applications. These areas are rare in the crypto world.”
DePIN, short for Decentralized Physical infrastructure Networks (decentralized physical networks), is a blockchain-based technology that aims to empower individuals or businesses to take control of physical infrastructure, such as data storage, wireless connectivity or computation power.
Kling argues Crypto is a term that has been coined. “not that early.”
“Bitcoin is worth a trillion bucks and half of Wall Street owns it at this point. All the rest of crypto is worth another trillion. Tether owns more Treasuries than Germany. There’s been more than $20 billion of venture capital poured into this space in the last four years. We’re not that early. Stop with the comparisons to ‘the internet in the late 90s and look what happened there.’ At best, Solutions are looking for the problems. A brutal and persistent grift is at worst.
Kling is not averse to the industry despite his negative feelings think The future US administration of former president Donald Trump could bring in regulatory changes that will boost altcoins if he wins the presidential election this November.
“We’ve been talking about this concept for years here – value creation and value accrual, and the bridge between the two being token structure. In a Trump administration, it could potentially be out with the worthless governance tokens, in with the yield-bearing, token-burning pseudo-securities – courtesy of a US regulatory framework that allows for such a thing. That’s a world where two years from now you could imagine a much less Fugazi Alt landscape.”
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