Brayton Williams on what to expect in crypto in 2018

Boost.vc cofounder Brayton Williams recapped some of teh mindboggling numbers for crypto in 2017 in a recent post:

2017 was certainly the year of cryptocurrencies. No one can doubt that.

  • Crypto market cap (from Coinmarketcap.com) went from $18.2B to $610B (33X).
  • Coinbase reached the #1 app on the IOS appstore.
  • Altcoins flourished as BTC dominance shrunk from 88% to 39%.
  • $3.7B was raised by ICOs.

And goes on to point out how the focus was alll about money.

However 2017 was all about the MONEY (and Cryptokitties). Crypto became a real asset class and money flew in. Why? The economy is strong, people have money and everyone is looking for new yields. Crypto was providing those yields and thus more and more money came flocking in. But the price of these assets has started to massively outgrow their true utility and fundamentals.

He cites Vitalik Buterin’s recent frustration with the fact that the rypto community has not yet produced even close to the value of money that has been poured in the market as a whole. However, he believe 2018 will attract a lot more talent:

The money inflow we saw in 2017 was almost necessary for our next step of fulfilling the real promise of cryptocurrency. People follow money. We are now seeing designers, UX experts and product people joining the space, which is what I think we were really missing. Cryptokitties was the first example of good UI meets blockchain and I think in 2018 that wave will hit us harder.

He then looks at why so many projects and teams are stuck at the building stage, rather than the shipping stage.

This brings up the question: Why aren’t projects shipping? Outside of normal product timelines (most projects are less than 6 months old and things take time), this is what I have come up thus far:

  1. The building blocks of the decentralized web are very new. Teams are building many things from scratch which takes time.
  2. The teams are highly technical but less product oriented. Thus many are building/experimenting with cool tech but these same people aren’t skilled in end user product development.
  3. What is the rush when you have 10+ years of runway.
  4. Token project market caps are EXTREMELY HIGH and are built on hopes and dreams. A mediocre product with minimal traction isn’t as alluring.
  5. Lambo. Scams. No intention from start to deliver.

Read the full post 2018 Crypto: The year of TALENT and SHIPPING – Brayton Williams – Medium at Medium