🤔 So what is it?
This is not death. This is a transition from quantity to quality. Thousands of useless tokens will die, just as thousands of internet companies with the "e-" prefix once did. But the technology of distributed ledger will become as familiar a layer of the global financial system as the internet has become for communications.
Bitcoin is likely to survive and strengthen as "digital gold." Ethereum and other platforms will fight for the title of "world computer." However, thousands of second and third tier projects will indeed disappear forever.
This is similar to your thought that the industry has "worked itself out" as a hype. It has worked itself out in the form we have known it for the last 5 years. Now, a completely different, more boring, but also more reliable game begins.
This is not death. This is a transition from quantity to quality. Thousands of useless tokens will die, just as thousands of internet companies with the "e-" prefix once did. But the technology of distributed ledger will become as familiar a layer of the global financial system as the internet has become for communications.
Bitcoin is likely to survive and strengthen as "digital gold." Ethereum and other platforms will fight for the title of "world computer." However, thousands of second and third tier projects will indeed disappear forever.
This is similar to your thought that the industry has "worked itself out" as a hype. It has worked itself out in the form we have known it for the last 5 years. Now, a completely different, more boring, but also more reliable game begins.