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Mason Nystrom Profile picture
@masonnystrom
Sep 2, 2020 • 4 tweets • 2 min read • Read on X
One project at the intersection of sports and crypto is Chiliz(CHZ), a firm building the Chiliz exchange and the Socios fan engagement platform. Chiliz issues fan tokens – brand loyalty tokens – in partnership with professional football clubs which have accrued significant value. Image
Fan tokens currently enable token owners to vote in polls and access exclusive rewards, such as signed merchandise.

Interestingly, Juventus (JUV) and Paris Saint Germain (PSG) trade at 14% and 10%, respectively, to the valuations of the professional football clubs! Image
Chiliz has continued to grow its fan token offerings over the past few months. On August 25, Chiliz sold $730,000 of fan tokens in 15 minutes for three different football clubs.
Read the full piece to learn more about fan loyalty tokens and get the break down on how these tokens and CHZ may – or may not – accrue value moving forward. messari.io/article/game-c…

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More from @masonnystrom

Mason Nystrom Profile picture
Jan 14
New Blockchain Letter just dropped.

Three Big Trends in DeFi:
1️⃣ Consumer DeFi – fintech-grade UX meets onchain yields
2️⃣ Real World Assets (RWAs) – the bridge to TradFi capital
3️⃣ DeFi as Platforms – evolving from standalone apps to DeFi platforms

Let’s break it down 👇
Trend 1: Consumer DeFi 📱
Consumer grade crypto apps are coming.
Think fintech-like UX but crypto backends focused on…
💡 Opinionated discovery
📱 Mobile first
📈 Power-user features (e,g. multi-collateral leverage)
⚡ Seamless onchain interactions
UX is key. 🚪
Tech is catching up:
🔗 Chain abstraction
🔐 Smart wallets
📱 Mobile-first interfaces
Together, these unlock easy-to-use crypto apps that feel just like fintech—but with DeFi on the backend.
Read 16 tweets
Mason Nystrom Profile picture
Dec 5, 2024
Stablecoins represent a trillion dollar opportunity.

Over the next decade, digital dollars will come to define the world of finance.

Here's how we see the stablecoin landscape and where we seen opportunities today 👇
While the world is no longer early to Bitcoin, we're still in the early innings of stablecoins with only 20-30 million monthly active users of stablecoins.

Over the course of the next decade, I expect this number to grow significantly as hundreds of millions of users interact with stablecoins – directly or indirectly – in their daily lives.Image
Some of the stablecoin opportunities we're excited about:
Read 4 tweets
Mason Nystrom Profile picture
Nov 14, 2024
Great recent newsletter from @artemis__xyz about stablecoin activity.

Some takeaways that I thought were interesting 👇 Image
The on and offramp space, once dominated by Moonpay continues to grow more competitive.

Recently, traditional large fintech Revolut has grown as a leading stablecoin onramp provider. Image
Exchanges are still key liquidity hubs for specific regions and corridors. For instance, stablecoin remittance activity from U.S. based CEX's like Coinbase and Kraken @Bitso has nearly doubled in 2024.

Stablecoin activity will be most impactful in emerging market corridors like LATAM, South East Asia, and Africa.Image
Read 5 tweets
Mason Nystrom Profile picture
Oct 30, 2024
Thought provoking essay but I still stand in the fat app thesis camp.

While horizontal wallets certainly capture value today I think Applications will be better positioned than wallets in the future.

Applications will capture more value than horizontal wallets because:
1) Wallet fragmentation will happen. All large apps will launch their own wallets.
2) Every app in the future will be its own wallet capturing order flow and attention.
3) Crypto’s inevitable shift to mobile will favor applications over horizontal wallets.
1) All apps want to own the end user.

Wallets are increasingly commoditized and every sufficiently large app launches its own wallet - Uniswap, Coinbase, Magic Eden, Jupiter, etc.

I also disagree with the statement: “If an application increases its take rate, will users leave for a cheaper alternative?” Apps with retail users are sticky just like wallets are sticky.

The top applications all maintain healthy take rates - Uniswap, Magic Eden, Aave, Jupiter, Raydium.
2) Future apps launch with their own wallets.

There’s a reason we see fewer horizontal wallet companies being built today. New apps (whether consumer or defi) launch with their own wallets by default because of access solutions like Privy and Turnkey. It’s never been easier to integrate a wallet into an app. While horizontal wallets today have an advantage, new apps of the future can onboard users to their wallets directly. Apps like Farcsster are a one good example on this trend- people onboard to Warpcast directly.

Telegram bots are another perfect example of this - they’re first and foremost exchanges / trading apps but have wallets by default. They’ve grown because they offer better products (more social and convenient) that horizontal wallets.

Chain abstraction also arguably decreases the stickiness of Fat Wallets because it gets easier to move asset. Abstraction allows apps to vampire attack horizontal wallets to easily move funds to its own app integrated wallet without the user knowing or caring.
Read 5 tweets
Mason Nystrom Profile picture
Aug 1, 2024
The superpower of crypto is creating new assets and markets.

Now, I try to ask the question – how could this business become an exchange? For certain businesses it’s very clear, but for others, it requires some imagination.

Let’s talk about exchanges, and where to find them 👇Image
One of the most common and successful business models in crypto is the exchange model which is why we've seen so many companies and protocols eventually adopt the exchange business model.
Exchanges are well-positioned to develop in scenarios were:
- New assets emerge onchain
- Apps control distribution and can introduce transactional behavior
- New services emerge that impact valuable onchain state or are somehow connected to transactions
- Crypto games control their own asset issuance and have open economies
- Developer platforms can introduce service marketplaces or auction houses for transactions
Read 9 tweets
Mason Nystrom Profile picture
Jul 17, 2024
There are a few common crypto business models:
- Exchanges and marketplaces
- Transaction sequencing
- Asset managers

Let's dive into some examples 👇
Exchange Model
Subset 1) marketplace models – fee on transactions
- create a new asset and market (e.g. Polymarket, Perps)
- expand access to emerging asset (Coinbase and BTC)
- convenience fee (wallet swaps)
- SaaS enabled marketplaces – Proof marketplaces

Exchange subset 2): Liquidity servicing - build valuable pool of specialized liquidity and charge acces fee to end app (e.g. hooks) or match-maker fee (e.g. swaps)
- DEXs
- Lending
MEV / Transaction sequencing – own and monetize valuable order flow
- App PFOF (e.g. TG Bots)
- Sequencer model - own sequencer and MEV (e.g. L2)
- SaaS enabled tx sequencing and monitoring - RaaS, RPC providers, security providers, oracles etc.
Read 5 tweets

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