0xResearch Apps Are Taking Over Crypto | 6th Man Ventures
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May 12, 2025 
Mike Dudas and Carl Vogel, both from 6th Man Ventures, share their insights on the shifting landscape of crypto investments. They discuss the transition from infrastructure to application-layer focus, the oversupply of general-purpose L1s, and the emergence of innovative revenue models in the crypto space. The duo explores how new chains like Monad are navigating these changes and examine the evolving role of decentralized finance. Their take on the future of consumer crypto highlights the intriguing intersection of finance and gaming.
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Oversupply of Generalizable L1s
- There is an oversupply of general-purpose Layer 1 (L1) blockchains with extremely low actual utilization. - Investing in consumer-facing applications is now more attractive as they generate real revenue and drive user growth on chains like Solana.
Launch on Stable Ecosystems
- Advise founders to launch applications on chains with stability, capital, and active users to minimize risk. - Currently, Solana and Base are preferred ecosystems due to their established user bases and infrastructure.
Revenue from Day One in Crypto
- Crypto apps can generate revenue from issuance and trading right from day one because money is a core part of crypto experiences. - Developing a great product or game will naturally lead to revenue generation in crypto.