Pudgy Penguins CEO: The cryptocurrency industry is similar to the early 2000s and has reached the time of mainstreaming

Luca Netz, CEO of the NFT project Pudgy Penguins, published a long article titled "What is Consumer Crypto?" In which he mentioned: "Based on consumption habits, consumer cryptocurrency adoption can be divided into 3 stages: Stage 1: Discretionary spending; Stage 2: Necessary spending; Stage 3: Basic spending. Over the past 10 years, consumer adoption has been in the hands of blockchain companies that have raised tens of billions of dollars to further promote adoption, but mass market penetration and fragmentation are not parallel. The general approach is ambitious, but the effort required to achieve it is enormous. The cryptocurrency industry is now at a crossroads similar to the Internet boom in the early 2000s. After 10 years of building infrastructure, it is time for the industry to break through and enter the mainstream market."