Ask Messari Copilot: Can a full-stack, centralized-style experience coexist with crypto’s ethos of decentralization?

See Copilot's Response: https://messari.io/copilot/share/centralization-vs-decentralization-5b85d971-6184-4512-9110-1598a3900bb8

Kain Warwick breaks down how Infinex is rewriting the rules of crypto UX. From building its own wallet and signing infrastructure to full-stack app architecture, Infinex is ditching the dApp playbook to offer users a seamless, centralized-like experience—without sacrificing custody. If you're curious about the future of crypto applications and the battle to onboard the next wave of users, this one’s for you.

00:42 Introductions

1:05 Infinex Vision

4:13 UX in Crypto

5:45 User Growth

8:12 How Infinex Works

19:05 Scaling Infinex

23:15 Competition

31:42 Updates & Perception

38:46 Kaito Plans

42:15 Conclusion

Hosted by Kinji Steimetz and Dylan Bane of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

What does it really take to launch a token in 2025? The Enterprise team dives into the rise of Launchcoin and the emergence of Internet Capital Markets—an onchain movement redefining how tokens are created, distributed, and valued. From memecoin mechanics to institutional implications, this episode dissects the thesis and traction behind tokenized everything on Solana.

💥 We also debate how to value L1s:

→ Is REV (Revenue) the most grounded valuation metric?

→ How do monetary premiums, economic security, and execution narratives shape prices?

→ Are current valuations justifiable—or wildly overblown?Plus, we touch on:

- The Coinbase S&P 500 inclusion

- BTC breaking 6 figures

- Hyperliquid’s growth dilemma

- Dylan’s DePIN Valuations report (featuring DRNs vs. PRNs)

- What we’re doing onchain—from Tama.fun to HyperEVM farming

💡 Ask Messari Copilot: How might tokenization tools like Launchcoin evolve to enable real equity, revenue sharing, or governance rights—and what regulatory or technical hurdles stand in the way?

✨ See Copilot's Response: https://messari.io/copilot/share/tokenization-s-future-equity-revenue-and-governance-d63e860a-1b2e-49da-8f64-f6ea5ecd3fe6

00:39 Introductions

1:13 Market Update

7:12 Coinbase in S&P

11:55 Analyst Forecast

13:27 How to Value L1s

36:09 IPO Multiples

38:24 Internet Capital Markets

46:19 Hyperliquid & Bear Case

59:52 On-Chain Stuff

1:11:44 Conclusion

Hosted by Matthew Nay of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

We're back with Episode 4 of Shoot the Sh*t Fully Diluted Podcast, where the Messari Enterprise team dives deep into what’s fueling crypto’s recent momentum.

Join Matthew Nay and the Enterprise team (Sunny Shi, Kinji Steimetz, Andrew Dyer, Chris Davis & Dylan Bane) as they shoot the sh*t about:

🔹 Macro trends: BTC’s outperformance, S&P's rally, and tariff drama between the US and China.

🔹 AI subnets & decentralized training: BitTensor’s shoots, gradients, and more.

🔹 Ethereum’s L1 scaling push: Is this the turnaround moment for ETH?

🔹 Stablecoin meta: Mastercard x Circle, Ripple’s rumored bid for Circle, and more.

🔹 Hyperliquid flywheel: HIP3, staking incentives, and why it might be the next top-10 protocol.

🔹 Onchain activity check-in: Launchpad wars, NFT grinds, and Treeverse MMOs.

This one’s jam-packed. Whether you’re macro-curious, AI-obsessed, or just tracking new alt metas—there’s alpha for everyone.

💡 Ask Messari Copilot: What would it take for Ethereum L1 to recapture DeFi mindshare from L2s and alt L1s—performance, incentives, or something entirely different?

✨ See Copilot's Response: https://messari.io/copilot/share/ethereum-l1-defi-comeback-bebd6c1a-a97f-49d2-98c4-136ca02b558c

00:44 Introductions

1:10 Market Sentiment

15:48 Ethereum Foundation

25:11 AI Adoption

36:57 DePIN Projects

39:45 Energy & Crypto

41:31 Crypto Payments

56:15 EVM Innovations

1:05:10 On-Chain Projects

1:12:08 Conclusion

Hosted by Matthew Nay of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

What’s really holding crypto back? It’s not infrastructure—it’s product.

In this episode of Fully Diluted, Hivemapper CEO Ariel Seidman joins Messari’s Dylan Bane to unpack the deep infrastructure powering Hivemapper’s decentralized global map—and why real utility, not hype, is the key to crypto’s next chapter.

0:50 Introductions

4:02 HiveMapper Intro

12:13 Market Demand

18:55 Token Model

29:20 Regulation & Adoptio

36:05 Crypto Culture

38:56 App Layer & Roadmap

46:04 Conclusion

Hosted by Dylan Bane of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

In this episode of Fully Diluted, Pranav Kanade and Wyatt Lonergan from VanEck Digital Assets are joined by Kinji Steimetz and Dylan Bane from Messari to explore the evolution of crypto beyond speculation.

They dive deep into tokenization, stablecoins, the rise of real-world assets (RWA), and how stablecoin-powered infrastructure could reshape global payments and financial access.

The conversation spans market structure reforms, the future of tokenized equities, the critical path for Deepin networks, and the competitive dynamics among base layers like Solana and MegaETH.

Learn why the industry's future success depends not on better casinos—but on rewarding real, productive innovation.

0:46 Introductions

5:41 Stablecoin Use

15:53 Tokenized Assets

23:33 On-Chain Limits

28:15 DePIN Infrastructure

44:53 Base Layers

51:24 Conclusion

Hosted by Kinji Steimetz and Dylan Bane of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

We're back with Episode 3 of Shoot the Sh*t Pod — and this one’s stacked.

Join Matthew Nay and the Enterprise team (Sunny Shi, Kinji Steimetz, Andrew Dyer, Chris Davis & Dylan Bane) as they dive into:

🔹 Real-time blockchains: MegaETH is setting a new bar.

🔹 AI Roasting & CT Drama: AIXBT is back on its BS, targeting Sunny in a wild Twitter roast.

🔹 Macro madness: Talking stagflation risks, Fed policy, and market sentiment.

🔹 Token volatility: What happened with Mantra?

🔹 Content coins vs. memecoins: The Base/Zora launch sparked a frenzy.

🔹 Gaming onchain: MegaETH’s Crossy Road-style demo shows what fast infra can unlock.

🔹 Decentralization vs. performance: Where are devs and users really drawing the line in 2025?

00:00 Introductions

1:05 AI Roasting

4:23 Macro Environment

20:20 Token Volatility

30:46 Tokenization & Utility

48:54 Decentralization

51:51 Conclusion

Hosted by Matthew Nay of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

Ask Messari Copilot: How can decentralized protocols change the economics of R&D in science and AI?

See Copilot's Response: https://messari.io/copilot/share/decentralizing-r-d-economics-069debfe-3e9a-4281-8c5c-442e829d94b5

How do we incentivize the next great algorithm? Why does open-source AI matter more than ever in a world of geopolitical tension and centralized power?

In this episode, we dive deep with John Fletcher—physicist, mathematician, and creator of The Innovation Game—to explore a decentralized protocol for algorithm development, the future of AI scaling, and how crypto can align incentives for global innovation. From AI arms races to source separation in music production, this conversation spans the spectrum of science, strategy, and society.

Read Their Recent Blog To Learn More: https://medium.com/@tigfoundation/the-innovation-game-how-a-market-for-open-algorithms-sets-science-free-b2eb6abcaa1e

00:50 Introductions

2:20 Protocol Basics

8:23 Algorithmic Use Cases

12:46 Historical Context

18:27 Open Source Challenges

24:47 Predictability

29:25 Scaling and Global Talent

36:08 Licensing

42:36 Geopolitics

50:42 Inspiration

53:37 Conclusion

Hosted by Chris Davis of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

Ask Messari Copilot: What are the most promising models for scaling DePIN infrastructure?

See Copilot's Response: https://messari.io/copilot/share/scaling-deepin-infrastructure-models-ffbd3d95-53c1-4cdc-98cd-58d36f43250a

In this week’s episode, the Messari Research team breaks down the latest market narratives—from DePIN’s growing pains to macro risks and app consolidation on Solana. We’re talking tariff chaos, Circle’s IPO delay, gaming tokenomics, and what we’re actually doing onchain during all the volatility.

The Analysts Discuss:

📡 DePIN Revenue: Can protocols like Helium, GEODNET, and Glowe scale?

📉 Macro: Tariffs, market uncertainty, and crypto relative strength

🏦 Circle IPO: Why it got delayed and what that means for stablecoins

🧬 Solana: Super apps, vertical integration, and the memecoin washout

🎮 Gaming: Token design, GUN launch fallout, and consolidation

🔬 Infra: MegaETH testnet and why infra still matters

🧪 Onchain Life: What the team’s farming, testing, and feeding (yes, Mega E-fluffs)

00:00 Introductions

1:06 Tariff Fallout

12:16 Circle IPO Delay

19:30 Superapp Thesis

28:07 State of Gaming

32:03 Cycle Analysis

38:22 DePIN Tokenomics

44:30 Current Interests

53:28 Conclusion

Hosted by Matthew Nay of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

Ask Messari Copilot "Which protocols have shown the strongest fundamentals this cycle despite underperforming in price?"

https://messari.io/copilot/share/evaluating-protocol-fundamentals-9ada2e1c-b1e5-4cd7-be67-dc24f483a0dc

In this episode, the Messari Enterprise team sits down for a candid conversation on where we are in the crypto market cycle—and where we might be headed.

We dive into:

🧠 How the market became too self-aware and what that means for future participation

📉 Why ETH and altcoins are underperforming—even with a strong BTC ETF backdrop

🏦 The real role of Bitcoin: risk-on asset or digital gold?

🧪 Narrative fatigue, ETF skepticism, and the memecoin-to-perps trading migration

🚀 What we're still bullish on: DPIN, Hyperliquid, product-led chains, and the long arc of self-custodyFrom macro outlooks and market structure to the memes that move markets, this is one of our most wide-ranging (and honest) conversations yet.

The Fully Diluted Podcast with Messari Research brings you insightful, no-hype takes on what actually drives value in crypto. Subscribe to get weekly episodes with the best builders and researchers in crypto.

00:00 Intros

01:12 Crypto Market Narratives & Trends

10:55 Bitcoin & Ethereum Investment

22:16 Blockchain & Infrastructure

30:55 AI & Crypto Integration

36:07 DeFi, Liquidity & Trading Strategies

46:26 Future Predictions & Closing Thoughts

Hosted by Dylan Bane of Messari

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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This episode and its contents do not necessarily reflect the opinions of Messari, Inc. Hosts and guests may hold cryptocurrencies discussed in this content. This content is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this content is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This content should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this content.

Join Anyone and Messari's Dylan Bane as they explore the future of decentralized online privacy.

Anyone is building the largest internet-routing DePIN in the world: a modular privacy layer for any application to use seamlessly.

The Fully Diluted Podcast with Messari Research brings you insightful, no-hype takes on what actually drives value in crypto. Subscribe to get weekly episodes with the best builders and researchers in crypto.

Hosted by Dylan Bane

Follow Messari on Twitter: https://twitter.com/MessariCrypto

Follow Unqualified Opinions on Spotify: https://open.spotify.com/show/0uG5qpwFg67zTt0VQRTaZ7?si=13163cbebe01415e

Follow Unqualified Opinions on Apple Podcasts: https://podcasts.apple.com/us/podcast/messaris-unqualified-opinions/id1455666979

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