【特集】Driving Real Adoption in Crypto: Money, Status, and Functionality

The Value Action Gap in Crypto

The crypto industry faces a significant problem known as the "value action gap," where there is a disconnect between what people say they want and what they actually want. Despite strong theoretical sentiment for crypto's principles of self-sovereignty and decentralization, mainstream adoption remains low. To reach its potential, the industry must address this gap and understand users' true motivations.

What Really Drives Adoption

While many people express interest in crypto's underlying values, what truly drives adoption is simpler: money, status, and unique functionality. People are financially motivated, especially when facing economic insecurity. They are also driven by the pursuit of status and the ability to participate in exclusive communities. Additionally, they seek technology that solves real problems in innovative ways.

Double Down on What Works

To accelerate adoption, the industry should embrace these drivers and build products that align with consumers' motivations. Platforms like Axie Infinity and NBA Top Shot have achieved success by tapping into users' desires for financial gain and status. Additionally, the functionality of blockchain-based applications must surpass existing alternatives and provide significant value to users.

The Three Investment Theses

To prioritize the most promising projects, three investment theses drive the focus of firms like Double Down. The first is the "Money Game," which addresses income disparity and offers platforms for financial independence. The second is the "Status Game," which leverages blockchain-based communities and digital ownership to signal social standing. The third is the "Functionality Game," where technological advancements in Web3 must provide superior solutions to existing alternatives to drive mass adoption.

Conclusion

To drive real, mass-scale adoption in crypto, it is crucial to understand and cater to users' true motivations. Intellectualizing the technology alone is not enough; the industry must focus on delivering better lives through money, status, and functionality. Building sustainable businesses that align with these themes will attract both consumers and investors, leading to widespread adoption of crypto technologies.