$ALEX Masmej pfp

$ALEX Masmej

@alexmasmej

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Crypto is a backend technology. Robinhood launching its own chain—where they control token emission, redemption, UI, and distribution—says everything: no one cares about visible crypto apps. In fact, most people despise crypto apps. At best, they tolerate them when they’re invisible. Even if you’re a top-tier founder with $50M–$200M in funding, your flashy crypto consumer app won’t break 100K DAU, no matter what: - Without speculation, no one shows up. Worse: your users will try to speculate if you don't do it yourself to find a reason to stay on your app, with tokens like DEGEN ironically capturing more value than purple app it emerged from. - With speculation, founders are basically desperately trying to poach users from TikTok or X with free money. If that's your hook it just proves how little people care about your app and the spikes inevitably ends. It took me years to internalize this: web2 social media is already good enough for most. Crypto can't 10x it in a separate app. At least not as a GTM strategy. In 2020, ALEX coin was my breakout story. I raised $20K to escape socialist Paris and move to Silicon Valley to achieve my dreams of building a consumer app. But even ALEX was just the backend. That whole story played out through Twitter, Medium and news pieces about my journey; not one crypto app was popularized in this process. Later I raised $8M, and like @nikitabier said, I landed in a "golden jail", chasing PMF at any cost for an ambitious crypto app instead of seeing the obvious play. Now I do. My new thesis is crypto as backend rails embedded in existing web2 platforms. Excited to share my first product soon with this new thesis.
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