The Rise of the Apps: Are #Blockchains Losing Their Edge? š¤
Applications are overtaking infrastructure in terms of revenue generation. š¤āļø This means that dApps (decentralized applications) are making more money than the blockchains they're built on. ššµ
Apps like #Pumpandfun and $MKR are generating more revenue than most of blockchains, or even he blockchains they're built on. š¤Æš Think $BNB chain with over 653x multiple, only recorded $131 million while Pump.Fun with zero multiple recorded over $262 million in revenue. š¤šŖ
Despite this, infrastructure tokens (like $ETH and #SOL ) are still valued much higher than app tokens. š This discrepancy is likely to change over time as apps become more powerful, they'll demand a larger share of the fees generated on the blockchain. š
So, what does this mean for L1s? š¤š They might need to find new ways to generate value, beyond just collecting fees.
What do you think? Is the age of the applications finally here? Let us know in the comments! š
Thanks Ryan Watkins for insight! š
