Tokenization of assets has the potential to drive immense growth in the crypto industry, according to Staci Warden, CEO of Algorand Foundation.
In any industry, startups that find product-market fit can do well. However, in the world of web3, simply finding product-market fit is not enough. Warden insists that web3 companies must go beyond and discover tangible use cases for the emerging technology.
As the crypto industry strives to recover from the bear market, Warden believes that startups targeting real use cases – such as asset tokenization – will see significant growth. The bear market saw a decrease in activity as crypto tourists sought to strike it big. However, Warden asserts that the energy and enthusiasm for the industry has now lowered.
On the Chain Reaction podcast, Warden said, “We’ve lost some protocols, but I think those that are still with us, have a strong sense of product-market fit and are striving to pursue real use cases.”
Warden notes that many protocols and companies have taken the necessary steps to become regulated and bridge the gap between the traditional world and the world of crypto. She also highlights the increasing engagement in these areas, stating, “I don’t particularly like the term ‘real world’ because I believe crypto is very much a part of the real world. However, we are seeing more and more involvement in this aspect.”
For Warden, the key area for tangible use cases in the traditional world is the tokenization of assets. She believes that there are numerous opportunities in this space, even in areas that are not yet tradeable.
