Keep pulling the thread on Ryan Selkis.
The media and data company Blockworks has acquired the crypto data platform Messari.
Michael Ippolito asserts that the most important current trend in crypto is the tokenization of real-world assets (RWAs) and rebuilding traditional capital markets on-chain.
Michael Ippolito claims that crypto founders regularly overstate their project's revenue by a factor of 10x.
Michael Ippolito argues that the crypto industry's current struggles are not due to external factors like regulators such as Gary Gensler, but because it has failed to produce competitive assets that attract buyers.
Blockworks' strategy to improve trust in crypto markets involves a three-layer approach: a disclosure layer, a standardized data layer, and a market infrastructure layer for financial institutions.
Blockworks' core belief is that traditional financial assets like stocks, bonds, currencies, and commodities will eventually be rebuilt on public blockchains.
Jason Yanowitz argues that AI-native information platforms can be built with significantly less headcount than legacy financial data businesses like S&P and Moody's because crypto data is inherently digital and structured.
Michael Ippolito asserts that the crypto industry has failed to achieve standardized, accurate information because there are no legal consequences, such as lawsuits or jail time, for misrepresenting data.
Michael Ippolito argues that fixing the issues with crypto tokens, such as trust and transparency, is an existential requirement for the success of the broader crypto industry.
The combined Blockworks and Messari entity aims to build a full stack for on-chain markets, consisting of a system of record, a trusted data layer, an API, a workflow layer, and a distribution layer.
Messari was founded by Ryan Selkis and Dan McArdle, with subsequent leadership from Eric Turner and then Duran Aksoy.
Messari's initial data strategy was to go broad by aggregating many data types, aiming to be a "Bloomberg for crypto."