How Far Are We from True Consumer Mass Adoption?

As of September 9th, the TrendX platform's data statistics for BTC, ETH, and TON are as follows:

• The discussion volume for BTC last week was 11.51K, a 14.35% increase from the previous week, with a Sunday price of $54,273, a 15.2% decrease from the previous Sunday's $64,050.
• The discussion volume for ETH last week was 3.74K, an 11.72% increase from the previous week, with a Sunday price of $2,290, a 16.3% decrease from the previous Sunday's $2,737.
• The discussion volume for TON last week was 1.33K, a 24.03% decrease from the previous week, with a Sunday price of $4.63, a 12.8% decrease from the previous Sunday's $5.31.

Since the birth of Bitcoin (BTC) in 2009, the Web3 field has been striving to achieve the goal of mass adoption. However, this goal has always been a major challenge for the industry. Despite the emergence of various new technologies and projects in the market, most of them tend to focus only on short-term wealth effects, neglecting the sustainability of the projects and the key elements required to drive mass adoption.

The Current State and Bottlenecks of Web3

In the crypto market, the number of products that have truly achieved mass adoption is limited. One of the most successful examples is centralized exchanges (CEX), such as Binance, with over 200 million users, becoming a benchmark for the early mass adoption of Web3. However, apart from such success stories, the crypto industry still lacks applications that can penetrate the traditional Web2 field.

To understand the obstacles faced by Web3 in achieving mass adoption, it is necessary to clarify the current state and challenges of the industry. Despite the rapid development of the crypto market and the gradual expansion of user base and market size, there is still a significant gap between Web3 products and traditional Web2 products, which is a major factor hindering further adoption.

According to the analysis in the "Big Ideas in Tech 2024" report by A16Z, simplifying user experience is one of the basic conditions for achieving mass adoption of Web3. This conclusion indicates that despite the enormous potential of Web3 technology, its complex user experience and high usage costs greatly limit the acceptance and use by a wider audience.

Binance's "Road to One Billion On-chain Users" report also points out that to achieve mass adoption, two core requirements must be met: first, on-chain applications must meet the actual needs of users; second, these applications must be easy to understand and use. This indicates that Web3 products must not only have market fit but also lower the usage threshold through simplified user experience to attract a wider user base.

PMF and Web3: From Market Fit to Mass Adoption

Product Market Fit (PMF) is a basic condition for achieving mass adoption. Only when a product truly meets market demand and continuously provides the value users need can it gain widespread recognition and adoption. In the Web3 field, there are still few products that have achieved PMF, which is one of the reasons why the entire industry has difficulty achieving mass adoption.

In the early days of the crypto industry, many projects focused too much on short-term profits and neglected the long-term value and user needs of the products. However, products that have successfully crossed market cycles and achieved PMF usually have two key features: first, these products effectively solve actual user problems; second, they can stand out in a competitive market and have a sufficiently large market space.

Mark Suster, Managing Partner of Upfront Ventures, has pointed out that building products for mass adoption not only requires achieving PMF but also ensuring that the products have sustainable profitability and a sufficiently large target market. This indicates that to achieve mass adoption, it is necessary not only to meet current market demand but also to lay a solid foundation for future growth and expansion.

The Rise of Consumer Applications: From Leisure Consumption to Widespread Use

In the process of achieving mass adoption, the next important stage for the crypto industry will focus on consumer applications, especially user-oriented enterprises focused on non-essential or leisure consumption. These applications will play a pioneering role in driving the widespread adoption of Web3 because they are more likely to go viral and more effectively address problems that Web2 applications cannot solve.

The initial stage of consumer-level crypto applications will revolve around users' leisure time. Applications that can attract users' leisure time usually have stronger virality and higher user stickiness. By building these applications on the blockchain, developers can use decentralized technology to solve pain points in Web2 applications, further enhancing user experience.

The rapid rise of GameFi (blockchain games) and the NFT (non-fungible token) market is a typical representation of this trend. Products in these markets not only attract a large number of users' attention but also provide users with greater autonomy and value return through decentralized models. For example, users can truly own digital assets through holding and trading NFTs and can obtain real-world economic returns by participating in blockchain games.

Simplifying User Experience: Evolution of Web3 Infrastructure

Although consumer-level crypto applications have enormous potential, achieving widespread adoption still faces multiple challenges. Firstly, the infrastructure and tools of Web3 are not mature enough to support the growth of a large user base. Secondly, public understanding and acceptance of the concept of "digital ownership" are still in the early stages.

To address these challenges, the Web3 industry must establish a complete infrastructure and tool system to enable the concept of "digital ownership" to be widely understood and accepted by global society. This not only requires improving the performance and security of blockchain technology but also developing a series of user-friendly platforms and tools to help users better manage and utilize their digital assets.

Simplifying user experience is one of the key factors for Web3 to achieve widespread adoption. Lowering the entry barriers for users, simplifying on-chain operations, and providing more intuitive and user-friendly interfaces are the directions that developers need to focus on. The operational processes of many Web3 wallets and trading platforms are still complex and not user-friendly for ordinary users. To overcome this barrier, developers must optimize product design from the user's perspective and improve the overall experience.

AI Empowering Web3: Key Force Driving Mass Adoption

As Web3 technology continues to evolve, AI is gradually becoming an important force driving consumer-level applications and widespread adoption. AI not only simplifies the application of blockchain technology but also enhances the usability and user experience of Web3 products.

By introducing AI, Web3 products can achieve more intelligent automated processes and personalized services, greatly reducing the entry barriers for users. For example, AI can provide users with personalized asset management advice, automatically detect risks, simplify operational processes, thereby enhancing user trust and participation in Web3 products.

In addition, AI will also drive the innovation of a new generation of Web3 applications in the future. Especially in the consumer-level market, AI-driven smart contract execution and personalized experience optimization will make Web3 products more attractive, promoting their widespread adoption in the mainstream market.

TrendX, the Closest to Successful Web3 Mass Adoption

TrendX is a one-stop platform that helps users find investment opportunities through AI and big data technology. Since its establishment in 2022, TrendX has processed over 20TB of on-chain and off-chain data, analyzed real-time dynamics from billions of data, captured investment opportunities, and provided investment advice to users through intuitive interaction, adhering to the concept of "change is opportunity," and is committed to becoming the preferred Web3 investment platform for users.

TrendX has gathered over 60,000 KOLs in the Web3 industry, who share real-time industry dynamics and the latest information, providing users with reliable sources of information. By aggregating a massive amount of KOL information, TrendX has conducted filtering and selection of these data based on multiple dimensions such as race, project, KOL category, language, etc., enriching the platform's content and helping users make more accurate judgments in a complex market environment. It is also very user-friendly for Web2 users, allowing new users to quickly enter the circle and find corresponding KOLs and understand the most native information.

In addition, TrendX's intelligent investment tools, through the introduction of AI technology, enable users to extract valuable data from complex market information and convert it into effective investment decisions. This technology-driven investment method greatly improves user investment efficiency, reduces investment risks, and has earned TrendX a good reputation in the market.

Since May 2022, TrendX has attracted over 270,000 Web3 users to bind their wallets, reflecting that the platform has provided users with the tools and services they actually need. The scale of TrendX's database is also continuously expanding, reaching a level of over 1 billion, covering multiple dimensions such as on-chain transactions, tweet data capture and analysis, etc. The continuous accumulation and optimization of this data give TrendX a unique advantage in market analysis and user services, making TrendX the closest to successful Web3 Mass Adoption.

Future Outlook

In summary, achieving widespread adoption of Web3 is not an easy task, but it is also not out of reach. To achieve this goal, Web3 products must meet several conditions:

1. Truly meet user needs (PMF): Only products that truly solve user pain points can gain widespread recognition.

2. Large target market: Products with hundreds of millions of users or a market worth billions of dollars have the potential to be popular globally.

3. Simplify user experience: Lowering the entry barriers for users and making products easy to use are key to attracting a wide user base.

4. Mature infrastructure support: A sound upstream and downstream supply chain and infrastructure are important guarantees for supporting widespread adoption.

5. Effective user acquisition strategy: In a competitive market, how to accurately and massively acquire users is key to achieving mass adoption.

6. Sustainable business model: The long-term value and sustainability of products are important factors for their long-term development in the market.

Although the current Web3 industry faces many challenges, with the advancement of technology and the gradual improvement of infrastructure, we can expect to see more Web3 products achieve mass adoption in the coming years. The rise of consumer-level crypto applications signifies that the Web3 industry is gradually moving from the professional field to the mass market. To achieve this goal, Web3 products must undergo in-depth optimization and improvement in user experience, market positioning, infrastructure construction, and other aspects. In the future, mass adoption of Web3 will become a reality, not just an ideal.

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