Mag 7 of the encryption world: Tokens need to make money, the public market may become a new focus.

[Coin World] This is an excerpt from the Empire newsletter. To read the full version, please subscribe. I know Permissionless has ended, but let's return to the main stage one more time. Specifically, I want to follow the Bell Curve x Empire Round Up. One of the most interesting parts of the conversation between company co-founders Mike Ippolito and Jason Yanowitz, Framework's Michael Anderson, and Inversion's Santiago Santos is that Crypto Assets may have its own version of the Mag 7 at some point (this term is used to describe the "Seven Giants," or some of Wall Street's top stocks).

Anderson said: "Metanarratives are: Tokens need to make money. Tokens need to have a business model. There needs to be value accumulated on the tokens, just like some publicly traded companies, and we do not have GAAP accounting standards."

"The next step is: how do we obtain GAAP accounting standards so that everyone can view these things on a fair basis? If you are making money, then you have a chance to enter Mag 7. If not, you don't have a chance."

At this time, Anderson believes that pump.fun can be considered part of the top Crypto Assets when launching a token. However, he also thinks that the native token of a certain trading platform has the "best existing token model."

"As Americans, we are not allowed to be customers of a certain trading platform, so no one knows about it, but this is the basic foundation of the token. It's not just a 20% or 25% profit; I don't think that's actually the case anymore, that was the way it started... Now, the token is - if you stake it on the trading platform, you will receive discounted fees, but you will also receive airdrops of any token listed on the platform, which you can sell immediately - and they really did that."

At the same time, Santos stated that the current focus is very much on: what the next publicly traded crypto assets company will be (not referring to SPACs or Treasury instruments, but a real crypto assets company), and how investors can get a piece of the pie like some publicly traded companies?

He said: "I might bet that more and more liquidity will enter the open market," he added, that people are more likely to follow ETFs and Crypto Assets stocks rather than the current tokens.

I want to say that this is a fairly constant theme of Permissionless. I acknowledge that I was not present in person, but I watched almost all the panels via live stream, and the theme was very clear.

Stablecoins occupy a significant space, while discussing how the industry can improve the token framework; of course, everyone is curious about the next company to make its debut in the public market. If the rumors are true, it will be a long list.