The industry benchmark
January 23, 2023
It's funny how the world works sometimes. For those who don't know, when we first started we were actually a blockchain company, touting the future of private credit and securitization on chain. We were doing "real world assets" as the crypto/blockchain community likes to call it, before it was in vogue. Fast forward a few years later, we've shied away from that vision for many reasons, most notably of which is that the blockchain really can't help that much with the securitization process as it exists today. Instead, we went back to Startup 101, focusing on building a product that the market actually wants, one that makes things more efficient, makes it easier, makes it more transparent. Yet in our absence, dozens of companies have sprouted up in the blockchain space who are touting the future of real world assets on chain. Interestingly enough, every one of these companies are putting us as the benchmark they're comparing themselves to as the company who has figured it out and is doing it right. We've heard it directly from people in the space that everyone from [ ] to [ ] to [ ] right now have been going back to their VCs to see if they can dig into more around how we do things and how we've scaled on the tech side. Now that the DeFi hype has died down, we are actually one of the largest marketplaces for real world assets today.
Anecdotes like this are very telling. Shiny new object syndrome is very real in startups and people just want to chase the next greatest thing. It raises money, it generates press, it feeds into the hype cycle. You saw that with blockchain, you saw that with crypto, and now you're seeing it with AI. But it's worth remembering why we're all here - to build a sustainable business with a product that people actually want. A laser focus on execution and shutting out the noise and all the hype is what's gotten us to where we are today and it's going to be what takes us into the future and puts all these competitors in our rearview mirror.
We are now the benchmark that everyone else is measuring themselves up against. Let's try not to disappoint them 😎
