Paul Cafiero: The crypto industry has entered the Show Me era, and the vision is no longer enough to win recognition

A16z Crypto Communication Partner Paul Cafiero stated on X platform that the crypto industry has entered the Show Me era, and relying solely on vision and MVP is no longer enough to win external recognition. With BlackRock launching tokenized money market funds, Fidelity applying for encrypted ETFs, and JPMorgan settling transactions on its internal blockchain, industry standards have been raised. The partnership requires actual deployment and endorsement, data needs the main network transaction volume, active users, revenue, and retention curve, and product market fit needs the organic growth community that existed before the release.