Blockchain protocols are more scalable and composable. DeFi, DAO and NFT are becoming adopted standards for price discovery of both financial and creative assets. The remaining challenge is to bundle them into a consumer-ready holistic user experience that can be universalised towards product/market fit and data network effect. Everyone in the space is chasing that perfect configuration through experiments called “projects” that all articulate around modulation of similar use cases. Once this is figured out, decentralised applications and their underlying governance and ownership structures will disrupt the Internet as we know it, including VC, stock market, cap tables, ownership, economic models and our relationship to creative value assessment.