Lessons - Is Crypto’s Current Growth Sustainable? | Miko Matsumura - General Partner with Gumi Ventures

Where do you think the market is is standing in terms of investment opportunity? Of course not not not not a recommendation just you know for entertainment purposes I'm curious as to your opinion if this growth of the market is sustainable or if there has to be again like mass adoption milestones that have to hit so the whole market can continue to sort of grow at this trajectory I've become a little bit leery of kind of mass adoption Mass adoption is a little bit like democracy like it's it's pretty nice kind of in theory But without education it can have it has a dark side to it right which is you know I think our last attempt at mass adoption featured like a bunch of you know doge coins and yeah, I know That's not the mass adoption we need No, it's not that that's not what we need right what we need is you know We certainly need all those people to come back right, but we need them to come back smarter Right like like we need them to have learned a lesson right and it's it's a bit like you know a training I mean, you know, it's it's a little insulting to talk about People in the context of a dog, but you know hopefully you know they got swatted and it's an analogy Yeah, yeah And you know hopefully they're gonna come back a little smarter, you know, and and some of them won't come back at all Right so the lesson that a lot of people may have learned is all up, you know, cryptos are bad, right? And I may have learned that lesson, you know, but yeah, you know, I think everyone will eventually come back You know because it's my theory that All of these systems like all they do is they constantly Experience developer improvement and they just evolve and the one that Serves the most people the best is is going to you know, just become bigger and bigger and bigger and harder and harder to kind of You know, it will become unstoppable. So like You know, I think that in a way like one segment that I think is fascinating is this gaming segment called play to earn So it's going if you go into YouTube and you type play to earn Documentary You're actually going to learn something really fascinating, which is that there's a there's a blockchain game Called axi infinity right and In this most recent month the game actually generated eight and a half Million dollars of profit right and and this is really interesting when you start to think about it because That's an IPO level of right. That's like a hundred million dollar annual revenue rate right So it's it's if it were a company And not a decentralized network, you know, it would it would be able to IPO and effectively what's happening is that people in Places like the Philippines and Indonesia are playing this game axi and they're basically playing to earn Like a living right and and so that's one of the things that's incredible about This phenomenon is is that people went during COVID from driving a taxi To driving these little video things called axes, you know And and they're and they're actually making more money doing that than they were doing things on on You know, so when you when you want to talk about things like massive option And you want to talk about you know infrastructure You know and rules and consent right the thing that I think is fascinating is that this is a system That is definitely serving the people who are using it You know, and so that's that's an astonishing kind of Growth and you know, we my fund invested in like a gamer guild And this guild is their entire goal is to collect players of this game And effectively rent them the game pieces So that they can play the game and earn money. So it's it's it's really this absolutely wild and incredible frontier But if you if you understand the size of what we're talking about economically it's not only is it already Massive but you know, it's it's probably going to become tenix bigger So, you know, it's it's truly uh, you know, so that that's an impressive corner of the world You know, I guess what I wanted to say is I wanted to say that this is such a strange place to look For mass adoption But to me you have to look in the application arena right which is you have to look at people using it because they want to Right and the thing that's really interesting is is it turns out that these players are willing to jump through the complicated hoops Of custody and self-custody of blockchain assets and the reason they they're willing to jump through those hoops is Is that's how they put groceries on the table for their families, right? So, you know, it's like should I learn how to do this blockchain stuff It's existential like it's basically like oh COVID hit my family. We don't have any jobs like what do we do You know, so now they now they join this metaverse economy and they're playing this game and you know, it's it's really like a rocket ship So that that thing is very powerful